goldgirl

Reasoned discussion is one thing. So is satire. Snideness is just disrespectful to everyone else who participates in this thread by posting or reading.

beltway

There's always the RBP or my preferred solution, the customized ignore list.

goldgirl

I had no idea we could do that! You have cheered me immensely! Thank you!

Brugge

You are twisting the facts again. The OP was not denied b/c of the over 5/24 rule, it was only one factor among several in the denial. Without the excess total CCL, the OP would most likely been approved.

RNE

Read my remarks again; they expressly address the wiki, not any persons at all. I challenge ideas only.

beltway

For details, see "Dealing with Troublesome Users" in the FlyerTalk FAQ. Note that there's also a shortcut: click on the user's name in any of his/her posts and select "Add [username] to Ignore List."

Brugge

The way this works is somewhat strange, but I've seen it posted enough, and had it happen to me, to be fairly sure this is quite common. You can lower your CL in advance, give it a few weeks to become available again, and get approved. But if you are over what they want to give you, especially if there are a couple of other worrying factors re your app, they will NOT let you move credit, or reduce credit, to get approved. In fact, they will not even let you completely close one or two cards to get a new one approved. They are stuck on NO, and there is just one reasoning with them.

The movie "ONCE" has a song about it:

sdsearch

Too late, I've updated the wiki the facts. The facts, though, are not that 5/24 no longer is excluded from partner cards. The facts are that at least one person had 5/24 cited as a denial reason when applying for a second partner card immediately after being approved for the first partner card.

You concentrated on the fact that this person get denied for an IHG card, but missed the fact they got approve for a Hyatt card the same day. Chase didn't change their policies between this persons' Hyatt card app and IHG card app. Chase simply didn't like the person "overreaching" on Chase partner cards "too fast". And is that really something new?

There are lots of ways to get a bank "angry" at you. They do not require "new" policies.

Sedentary

So, now we're supposed to believe what the reps say, RNE? Back when 5/24 was just being discovered you insisted that the reps were unreliable and did not speak for Chase. Now you're backing an unreliable quote from a FT poster (s/he can't remember the third reason, so what makes you sure they got the first quote right?) on what some random CSR said as gospel from Chase?

I'll believe someone was denied for a co-branded (or biz) card under the two year rule when I see that given as the reason on a rejection letter.

RNE

I agree with you on this. It's just one instance of an exception to the rule.

I agree with you on this. The comments of a rep are not conclusive.


RNE, the "rule" is unruly.

farnorthtrader

I was denied for an IHG card and the reason given was too many new card accounts in the last two years. I offered to close another to open it and the response was no, that would only add to the number of new accounts and they would not do it. Whether that restriction was 5 or not, I do not know, because I had 20 overall and 6 just with Chase. My personal opinion is that they simply did not want to give me another card (I have 5 personal and 4 business with about $150K limits) and this was the reason they chose so that they could deny it. Nonetheless, it is an example of them denying a co brand card with them citing too many new accounts as the basis for their decision.

Sedentary

It's an example of a rep stating that was the reason. What did the letter say?
Better yet, post a picture/scan of the letter (just the paragraphs that shows the card and the reason(s) for denial).

Brugge

What's your total CL with just Chase? I'm wondering if that could be the main reason.

beltway

As he said,
Unless you have a C-suite salary, a 150K CL seems like an engraved invitation to denial of the next app. My guess is that the system auto-denied you because you'd topped out your CL. Having had the 5/24 rule beaten into them recently, the CSRs reflexively cited this very real policy even though it had nothing to do with your initial denial.

The lesson here? Trim excess CL before submitting an application. (A certain flat-earther insists this sort of activity is a red flag to Chase. Ignore him; we have no rational basis for thinking this is even vaguely true.) The good old days when Chase would relent after a denial & let people move CL around are behind us, it appears.

farnorthtrader

Sorry, really didn't pay any attention to the letter. Like I said, I think they were just looking for a reason to deny me and this is the one that was handy, but thought I should report what was cited as the reason. The rep actually did (or said they did) review it with a supervisor (and they had me on hold long enough, that they certainly should have). As for the limits, I spend a lot of money through them for my company, nearly maxing out two ink card 5x categories with legitimate business expenses, plus considerably more non-bonus spend. They have reviewed my business financials, so they are quite aware of my credit needs.
Just another note that I was approved for an Ink cash card after the 5/24 rule came into effect, although I applied for it before the rule. At the time, I would have had at least 18 new accounts in 24 months, so I am not sure that even this is an absolute rule, at least for business accounts, and that it might just be a "just about all the time rule unless we don't want to follow it". I have found that I seem to be able to get approved for credit cards from most issuers that don't seem to follow "the rules" that FTers have figured out. I think that, for the most part, issuers decide if they want to give you a card or not based on an overall assessment, then figure out reasons for their decision, and if they can cite a "rule" then that works pretty well for them.
My favorite was the AMEX decline for my wife where they cited too many new AMEX accounts in the last few months. The only problem being that she has only opened one new AMEX account in the last year. Then, when I applied for an SPG business AMEX card for her less than a month later, she is approved with a 20K limit. They make a decision, then find an excuse.