Jan 19, 2017, 8:44 pm
Last edit by: StartinSanDiego
Please read this Wiki before posting questions in the thread.
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This thread--a continuation of previous discussions through May 2015 and December 2016--focuses on general Chase policies & practices for new applications. For information on specific Chase cards and their bonuses/terms/benefits, see the following threads and their associated wikis: Table of Contents
Does Chase have a limit on the number or frequency of applications like Citi's 8/65 rule?
What's this I hear about Chase denying applications to people who have recently opened a lot of credit cards?
Does the 5/24 rule apply to applications for all Chase cards?
How does Chase calculate the number of an applicant's new cards for purposes of the 5/24 rule?
How does Chase calculate the relevant 24-month period? By calendar months? By exact days?
Can I get around the 5/24 policy by closing cards I've opened in the past 24 months?
Is there any way around the 5/24 policy (targeted mailers, pre-approvals, Chase Private Client status)?
Can I apply for a specific Chase card and earn the bonus again after doing so previously?
I'm an authorized user for a card issued to my spouse/parent. Does that prevent me from signing up for the same card and earning a bonus?
I already have several Chase cards with a substantial aggregate line of credit. Will it improve my odds if I close an existing account (or lower its credit line) before applying for another?
I wasn't auto-approved. Should I call in?
How can I determine the deadline for meeting the spend requirement to earn the signup bonus?
Once I meet the card's spend requirement, how soon will I receive my signup bonus points?
Should I downgrade or cancel my existing cards before applying?
Useful Chase telephone numbers
This thread--a continuation of previous discussions through May 2015 and December 2016--focuses on general Chase policies & practices for new applications. For information on specific Chase cards and their bonuses/terms/benefits, see the following threads and their associated wikis:
- Chase Freedom
- Chase Freedom Unlimited
- Chase Sapphire Preferred
- Chase Sapphire Reserve
- Chase Ink Plus
- Chase Ink Business Preferred
- Marriott Premier Visa
- IHG Rewards Visa/MC
- Hyatt Rewards Card from Chase
- Chase BA Visa
- United MileagePlus Explorer Card; business card
- United MileagePlus Club Card (and business card)
- Southwest Airlines, 4 cards currently available
- Chase Amazon Visa
- Does Chase have a limit on the number or frequency of applications like Citi's 8/65 rule?
- What's this I hear about Chase denying applications to people who have recently opened a lot of credit cards?
- Does the 5/24 rule apply to applications for all Chase cards?
- How does Chase calculate the number of an applicant's new cards for purposes of the 5/24 rule?
- How does Chase calculate the relevant 24-month period? By calendar months? By exact days?
- Can I get around the 5/24 policy by closing cards I've opened in the past 24 months?
- Is there any way around the 5/24 policy (targeted mailers, pre-approvals, Chase Private Client status)?
- Can I apply for a specific Chase card and earn the bonus again after doing so previously?
- I'm an authorized user for a card issued to my spouse/parent. Does that prevent me from signing up for the same card and earning a bonus?
- I already have several Chase cards with a substantial aggregate line of credit. Will it improve my odds if I close an existing account (or lower its credit line) before applying for another?
- I wasn't auto-approved. Should I call in?
- How can I determine the deadline for meeting the spend requirement to earn the signup bonus?
- Once I meet the card's spend requirement, how soon will I receive my signup bonus points?
- Should I downgrade or cancel my existing cards before applying?
- Useful Chase telephone numbers
Does Chase have a limit on the number or frequency of applications like Citi's 8/65 rule?
Chase does not have a known limit. However, several reports (for example) indicate that Chase is highly sensitive to multiple applications within a short time period, and that the second (or subsequent) applications run a substantial risk of being denied. In many cases, this is likely related to Chase's practice of allocating a large credit line (up to an applicant's personal maximum) when approving a new card such as the first application in a series. (See also the discussion below concerning aggregate Chase credit lines.)
What's this I hear about Chase denying applications to people who have recently opened a lot of credit cards?
Starting in May 2015, Chase began denying applications for its own personal cards (e.g., Sapphire Preferred, Freedom, Slate & Freedom Unlimited) if the applicant's credit report shows that she or he opened 5 or more credit cards with any card issuer in the prior 24 months ("the 5/24 rule").
For a few days in early September 2016, Chase included explicit language ("You will not be approved for this card if you have opened 5 or more bank cards in the past 24 months") on the application page for the Sapphire Reserve card--and then promptly removed it. The absence of this language on landing/application pages for the CSR or any other Chase card is not a reliable indicator of whether the 5/24 policy applies.
See the next section for co-branded cards exempt from the 5/24 policy, and the later section discussing potential ways around 5/24.
For a few days in early September 2016, Chase included explicit language ("You will not be approved for this card if you have opened 5 or more bank cards in the past 24 months") on the application page for the Sapphire Reserve card--and then promptly removed it. The absence of this language on landing/application pages for the CSR or any other Chase card is not a reliable indicator of whether the 5/24 policy applies.
See the next section for co-branded cards exempt from the 5/24 policy, and the later section discussing potential ways around 5/24.
Does the 5/24 rule apply to applications for all Chase cards?
Previously the rule did not apply to applications for the Ink Plus business card or to co-branded cards such as United, Hyatt, IHG, etc. However, on May 22, 2016 Chase extended its 5/24 rule to cover Ink business cards and some co-branded cards. (Note that there were premature reports that Chase Ink Plus would be made subject to the rule in March 2016 (which did not happen), and that all co-branded cards would follow in April 2016 (also did not happen).)
Although we had numerous reports of applications prior to May 22 being denied for a United/Hyatt/IHG/WN card by a CSR citing the 5/24 rule, the available evidence strongly suggested that those applicants had other serious issues--multiple Chase applications in a short period; large existing Chase credit line--and that overzealous CSRs gratuitously (and erroneously) invoked the 5/24 rule in the past as an additional supposed justification for the denial. Thus, it is difficult to separate such false positives from any change in Chase policy.
Instead, the most useful data points are those where an applicant is approved for a Chase card despite being over 5/24. Since May 22, 2016, we have such reports for these co-branded cards (in order from oldest to newest for each card):
For a longer list of cards apparently not subject to 5/24, check this link:
In November 2018, Chase seems to have possibly expanded 5/24 to more cards, possibly including some mentioned above. See this link:
Please follow discussion in the thread for current updates.
Although we had numerous reports of applications prior to May 22 being denied for a United/Hyatt/IHG/WN card by a CSR citing the 5/24 rule, the available evidence strongly suggested that those applicants had other serious issues--multiple Chase applications in a short period; large existing Chase credit line--and that overzealous CSRs gratuitously (and erroneously) invoked the 5/24 rule in the past as an additional supposed justification for the denial. Thus, it is difficult to separate such false positives from any change in Chase policy.
Instead, the most useful data points are those where an applicant is approved for a Chase card despite being over 5/24. Since May 22, 2016, we have such reports for these co-branded cards (in order from oldest to newest for each card):
- Hyatt (link; link; link; link; link; link; link; link; link; link)
- Marriott business card (link; link; link; link; link; link; link; link; link; link)
- IHG (link; link; link; link; link; link)
- BA (link; link)
For a longer list of cards apparently not subject to 5/24, check this link:
In November 2018, Chase seems to have possibly expanded 5/24 to more cards, possibly including some mentioned above. See this link:
Please follow discussion in the thread for current updates.
How does Chase calculate the number of an applicant's new cards for purposes of the 5/24 rule?
The 24-month count includes personal cards opened at other banks, and even cards on which the applicant is only an authorized user and not the primary cardholder. Chase has been extremely inflexible with this policy, with agents stating that there is nothing they can do to circumvent this restriction. However, in some cases Chase may reconsider a denial if the applicant has <5 new cards excluding cards on which s/he is an authorized user. You may need to escalate to the next level of customer service agent, as many front-line agents seem to be unable or unwilling to remove the authorized user accounts from the count.
Note:
Note:
- The actual cut-off number of recently opened cards may not be 5; it may be lower or perhaps higher, and it may differ for different applicants. Note also that the number of inquiries on a given credit reporting agency (or the total across all CRAs) is irrelevant.
- Cards not reported to EQ/TU/EX, such as most business cards and store charge cards, don't count towards this 5-card limit (for the simple reason that Chase cannot see them). Two FTers had previously reported that even Chase business cards are NOT included in the 5/24 tally, and more recently a third FTer has documented a case where they would have been 6/24 if a Chase business card had been counted. Similar conclusions have also been made by some travel bloggers.
How does Chase calculate the relevant 24-month period? By calendar months? By exact days?
In February 2017, a FTer reported a successful application a day or two after dropping from 5/24 to 4/24. However, because Chase sometimes approves applicants who are at 5/24 exactly (see above), this data point does not conclusively prove that Chase drops cards from its calculation on the exact 24-month anniversary of the previous bonus.
Can I get around the 5/24 policy by closing cards I've opened in the past 24 months?
No. Chase uses the information from your credit report, and closing an account doesn't make it disappear.
Is there any way around the 5/24 policy (targeted mailers, pre-approvals, Chase Private Client status)?
As to targeted mailers, we have insufficient anecdotal evidence to reach any reliable conclusions. (Reports suggesting no exemption from 5/24 here and here.)
There have been reports of people with more than 5 cards opened in the last 24 months being successful if they are already pre-approved for the card in question. To find out if you are pre-approved, you can call or go into a branch to ask. Success stories appear to be connected to Chase Private Client (CPC) status and the rollout of the Chase Sapphire Reserve card. In-branch pre-approvals (showing a green screen on the banker's computer) result in automatic approvals. Some (but not all) CPC clients had success in recon calls[[I]citation needed].
There have been reports of people with more than 5 cards opened in the last 24 months being successful if they are already pre-approved for the card in question. To find out if you are pre-approved, you can call or go into a branch to ask. Success stories appear to be connected to Chase Private Client (CPC) status and the rollout of the Chase Sapphire Reserve card. In-branch pre-approvals (showing a green screen on the banker's computer) result in automatic approvals. Some (but not all) CPC clients had success in recon calls[[I]citation needed].
Can I apply for a specific Chase card and earn the bonus again after doing so previously?
It depends. A Chase card may be "churned" when an entirely new version becomes available. For example, business cards are distinct from personal/consumer cards. Note that simple variations among bonus offers do not amount to new versions/products for purposes of this rule.
Beginning in 2014, Chase began including explicit language in most of its offers, such as the following:
Effective August 2018, Chase imposed stringent additional restrictions on receiving the signup bonus for any version of the Sapphire card. See Sapphire (CSR & CSP) 48 months between bonuses, August 2018 and the master threads for each card (listed above) for details and discussion.
There are four key considerations in determining whether you can churn a given card:
Beginning in 2014, Chase began including explicit language in most of its offers, such as the following:
This new cardmember bonus offer is not available to either (i) current cardmembers of this consumer credit card, or (ii) previous cardmembers of this consumer credit card who received a new cardmember bonus for this consumer credit card within the last 24 months.
There are four key considerations in determining whether you can churn a given card:
- The 5/24 policy discussed in detail above.
- The 24-month bonus waiting period--in the case of Sapphire cards, the collective 48-month period--is measured not from the date of your previous application (or approval date, if different), but instead from the date you received the signup-related bonus on the previous card, which may be 3-4 months later than the approval date. The same rule applies regardless of the type of signup bonus received (points, miles, or free-night certs); anniversary benefits unrelated to spending requirements, such as annual IHG & Marriott certs, do not count as signup bonuses.
- For cards such as BA Visa where the signup bonus is earned in multiple stages, the most recent reports are that the 24-month clock starts running only on receipt of the last bonus installment. In an older report, one FTer found that the 24 months appear to run from the initial bonus; after some difficulty, another FTer was told the same thing.
- If you still have your old card of the same type, you're ineligible.
- Chase's policy does not indicate whether there is also a minimum waiting period between cancellation and reapplication, and there is not yet sufficient anecdotal evidence from FTers to draw firm conclusions. At a minimum, a prudent churner will wait at least a week or two after cancellation before reapplying so that all of Chase's systems fully reflect that closure. (See first bullet point above.) At least one FTer has reported re-applying successfully 14 days after canceling the previous card.
I'm an authorized user for a card issued to my spouse/parent. Does that prevent me from signing up for the same card and earning a bonus?
No. Being an additional user on someone else's account poses no bar to applying for that same card & bonus, except insofar as such cards may count toward the 5/24 rule (as discussed above).
I already have several Chase cards with a substantial aggregate line of credit. Will it improve my odds if I close an existing account (or lower its credit line) before applying for another?
Yes.
In the past, the conventional wisdom among FTers was that you were more likely to hurt your chances by closing an account or reducing CL unilaterally. However, substantial evidence from 2014 onward strongly indicates that Chase is increasingly likely to reject applications (or at least not auto-approve them) where an applicant has an existing total credit line that is high compared to his/her income & spending patterns. (For many members, the threshold appears to be in the $45K-60K range, but that is highly speculative.)
Recent reports suggest that closing accounts and/or voluntarily reducing credit lines increases the odds of auto-approval or in-branch pre-approval. (You can do either by calling or simply sending a secure message through your Chase online account. You do not need to provide a reason for the request.) For best results, keep at least $5K-10K in excess credit; if your application is not approved, you can always contact the reconsideration department and offer to reallocate that portion of your existing credit line. Note: despite allowing credit line to be moved between personal and business accounts in the past, Chase is no longer permitting such reallocation in either direction.
With respect to timing, it is better to reduce any CL as soon as you can conveniently do so, e.g., after meeting the bonus spend on a card you do not plan to use regularly thereafter. (Do not reduce CL on a given card if it would increase your "credit utiilization"--that is, the ratio of outstanding balance to CL--above ~30%. A high credit utilization number is a red flag for banks and can adversely affect your credit score.) Waiting until one's next application to lower a CL is less than optimal, as the reduced CL is not immediately recognized by all of Chase's systems.
There is no known minimum wait between lowering a CL and having the freed-up amount become available for purposes of a new application. A prudent applicant will, as recommended above, plan well in advance; failing that, an applicant would be wise to wait at least 24 hours between lowering a CL and applying for a new card.
In the past, the conventional wisdom among FTers was that you were more likely to hurt your chances by closing an account or reducing CL unilaterally. However, substantial evidence from 2014 onward strongly indicates that Chase is increasingly likely to reject applications (or at least not auto-approve them) where an applicant has an existing total credit line that is high compared to his/her income & spending patterns. (For many members, the threshold appears to be in the $45K-60K range, but that is highly speculative.)
Recent reports suggest that closing accounts and/or voluntarily reducing credit lines increases the odds of auto-approval or in-branch pre-approval. (You can do either by calling or simply sending a secure message through your Chase online account. You do not need to provide a reason for the request.) For best results, keep at least $5K-10K in excess credit; if your application is not approved, you can always contact the reconsideration department and offer to reallocate that portion of your existing credit line. Note: despite allowing credit line to be moved between personal and business accounts in the past, Chase is no longer permitting such reallocation in either direction.
With respect to timing, it is better to reduce any CL as soon as you can conveniently do so, e.g., after meeting the bonus spend on a card you do not plan to use regularly thereafter. (Do not reduce CL on a given card if it would increase your "credit utiilization"--that is, the ratio of outstanding balance to CL--above ~30%. A high credit utilization number is a red flag for banks and can adversely affect your credit score.) Waiting until one's next application to lower a CL is less than optimal, as the reduced CL is not immediately recognized by all of Chase's systems.
There is no known minimum wait between lowering a CL and having the freed-up amount become available for purposes of a new application. A prudent applicant will, as recommended above, plan well in advance; failing that, an applicant would be wise to wait at least 24 hours between lowering a CL and applying for a new card.
I wasn't auto-approved. Should I call in?
It may be better to avoid calling Chase unless your application is denied. Many recent calls on pending applications led to denials, and many people report having success letting applications work their way through the system. Be patient. Time is on your side; increasingly, Chase CSRs are not.
If you do call, expect extensive and possibly hostile questioning. Be prepared to answer questions regarding the need for more credit, past credit apps for both Chase and other banks, income, business finances, etc. Know your CLs with Chase before you call so you know which card/s you are willing to decrease the CLs on. If the app is for a significant other who dislikes such calls, they can authorize you to speak on their behalf and hand the phone over to you.
If you do call, expect extensive and possibly hostile questioning. Be prepared to answer questions regarding the need for more credit, past credit apps for both Chase and other banks, income, business finances, etc. Know your CLs with Chase before you call so you know which card/s you are willing to decrease the CLs on. If the app is for a significant other who dislikes such calls, they can authorize you to speak on their behalf and hand the phone over to you.
How can I determine the deadline for meeting the spend requirement to earn the signup bonus?
Just send Chase a secure message (SM) through your online account. Although the deadline should in theory be N months from the date of approval (not the date of application or card activation)--where N is the number of months specified in the offer--Chase typically pads this period to account for the time required to fabricate and deliver physical cards. For example, a recent "3-month" deadline was in fact 114 days, as confirmed by Chase's SM confirmation.
Once I meet the card's spend requirement, how soon will I receive my signup bonus points?
Bonus points typically accrue at the close of the billing period in which you incur the corresponding charges. Points should appear in your hotel/airline account within a few days thereafter.
NOTE: If you complete your required spending in the last 7-10 days of the statement period, the bonus may not post until the following month's statement, even if the regular per-dollar points post on the first statement. This is normal behavior for Chase and is not worth a phone call.
NOTE: If you complete your required spending in the last 7-10 days of the statement period, the bonus may not post until the following month's statement, even if the regular per-dollar points post on the first statement. This is normal behavior for Chase and is not worth a phone call.
Should I downgrade or cancel my existing cards before applying?
See the discussion at
Useful Chase telephone numbers
(800) 432-3117 – General Application Status Line, automated
(800) 436-7927 – Alternative General Application Status Line, automated
(888) 609-7805 – Alternative Personal Reconsideration line with live rep
(888) 269-8690 - Business Credit Card Application Status Line, automated
(800) 453-9719 – Business Credit Card Reconsideration Line with live rep
(800) 955-9900 – General Card Services and Application status, automated
(888) 298-5623 – Credit Reallocation Office (Personal cards)
(800) 453-9719 – Credit Reallocation Office (Business cards)
(888) 622-7547 – Executive Offices
(877) 470-9042 – Personal Application Verification line with live rep
Twitter: @ChaseSupport
Note: In the past, automated telephone status reports stating that Chase would notify you in 2 weeks often resulted in an approval, whereas the "7-10 days" telephone recording often indicated imminent denial. In 2016, this pattern became increasingly unpredictable, with many applicants receiving approval despite an earlier "7-10 days" automated telephone message. As a result, automated telephone responses should not be regarded as reliable indicators of an application's likely outcome.
(800) 436-7927 – Alternative General Application Status Line, automated
(888) 609-7805 – Alternative Personal Reconsideration line with live rep
(888) 269-8690 - Business Credit Card Application Status Line, automated
(800) 453-9719 – Business Credit Card Reconsideration Line with live rep
(800) 955-9900 – General Card Services and Application status, automated
(888) 298-5623 – Credit Reallocation Office (Personal cards)
(800) 453-9719 – Credit Reallocation Office (Business cards)
(888) 622-7547 – Executive Offices
(877) 470-9042 – Personal Application Verification line with live rep
Twitter: @ChaseSupport
Note: In the past, automated telephone status reports stating that Chase would notify you in 2 weeks often resulted in an approval, whereas the "7-10 days" telephone recording often indicated imminent denial. In 2016, this pattern became increasingly unpredictable, with many applicants receiving approval despite an earlier "7-10 days" automated telephone message. As a result, automated telephone responses should not be regarded as reliable indicators of an application's likely outcome.
Applying for Chase Credit Cards, 2017-2019
Sep 1, 2018, 5:16 am
#1966
Join Date: Dec 2011
Location: ORD
Posts: 701
I applied for the IHG Premier card. I was denied for to many accounts/ to much credit. I have 5 chase accounts and my wife recently added me as an authorized user on her Hyatt account. I hadn’t applied for a credit card since 1/1/18. I waited out the process and received the letter. Then I called recon and they told me to call the number on the lettter. That department gave me the number to call lending which I think was also recon but a different number. When I called them I asked to have credit moved from one card to be approved for the IHG card. After a brief hold, she came back and said she put in for the request but that department couldn’t receive inbound calls. They called today and they said the final decision was a denial. Score is mid 800’s with 0 late payments and no balances. Any thoughts on how long I should wait to apply again? Cancel a card? Lower credit limit? If I don’t receive an instant approval, I am thinking I should recall recon immediately because they said there was nothing they could do after the letter was sent out.
TIA for any advice.
TIA for any advice.
Sep 2, 2018, 11:50 pm
#1968
Join Date: Nov 2007
Location: San Diego
Posts: 75
Called the status line and says there is no record of my application. So now to reapply. I am under the 5/24, but wondering if I should wait longer to apply for the Freedom Unlimited card since I just opened a CSR card in early July 2018. Do you think 2 months is sufficient time? I also lowered my limits on the other accounts including CSR by 10k. I have several other Chase accounts (IHG, Freedom, Southwest).
Sep 3, 2018, 4:23 am
#1969
Join Date: Mar 2014
Location: NYC
Programs: DL Platinum, AA Plat Pro, Bonvoy Lifetime Platinum, JetBlue Mosaic 3, Amtrak Select
Posts: 966
Has anyone else made a promise to them self to never apply for a chase card again??
After getting two United personal card bonuses (holding the last one for now to appease chase), one United biz card bonus, getting the WOH Card (which I greatly value for the easier path to globalist status and the free night at 15k spend), getting the CSR at opening for 100k, getting the CSP at the rare 70k bonus period, getting a southwest card eons ago, getting 30k for the chase freedom, PCing my CSP to a freedom unlimited and getting an Ink bonus, I feel like chase has given me enough international business / first class tickets... and am afraid one more application may end the party for me.
I don’t MS and generate tons or organic travel and dining spend because of my job, so I’d be really upset to lose my Chase relationship and don’t believe a 50k bonus is worth it. Rather focus on other banks for sign up bonuses, because outside of Chase and Amex, I don’t value any of the other banks for credit card rewards.
After getting two United personal card bonuses (holding the last one for now to appease chase), one United biz card bonus, getting the WOH Card (which I greatly value for the easier path to globalist status and the free night at 15k spend), getting the CSR at opening for 100k, getting the CSP at the rare 70k bonus period, getting a southwest card eons ago, getting 30k for the chase freedom, PCing my CSP to a freedom unlimited and getting an Ink bonus, I feel like chase has given me enough international business / first class tickets... and am afraid one more application may end the party for me.
I don’t MS and generate tons or organic travel and dining spend because of my job, so I’d be really upset to lose my Chase relationship and don’t believe a 50k bonus is worth it. Rather focus on other banks for sign up bonuses, because outside of Chase and Amex, I don’t value any of the other banks for credit card rewards.
Sep 6, 2018, 7:01 am
#1970
Join Date: Sep 2018
Posts: 7
New member here.
Last week I had to visit two separate Chase branches; during these visits I was informed by two personal bankers and a Business Relationship Manager that I had pre-approvals for all the credit cards offered by Chase. I declined to apply because I am 13/24, and my credit reports were locked. But by Saturday (Sept 1) my curiosity got the better of me so I unlocked my credit reports, and applied in-branch for the Sapphire Reserve card.
The personal banker who completed my application only asked for my income and my mother's maiden name. After submitting the application I asked if I had been approved; he did not say "Yes" but instead told me I would be receiving the card in 7-10 days. He then printed up a two-page document titled "Credit Card Rates and Fees for New Accounts" and handed it to me in a blue Chase folder.
My limited understanding is that a 7-10 day message means denial so I wondered why the PB responded so confidently. Hoping to ease my anxiety I called the Application Status line yesterday (9/5) and got a message stating that my application was being reviewed and I would be informed of a decision in 7-10 business days. At this stage, and given that I'm well in excess of 5/24, should I wait out the decision or do I now call in for reconsideration?
Thanks.
Last week I had to visit two separate Chase branches; during these visits I was informed by two personal bankers and a Business Relationship Manager that I had pre-approvals for all the credit cards offered by Chase. I declined to apply because I am 13/24, and my credit reports were locked. But by Saturday (Sept 1) my curiosity got the better of me so I unlocked my credit reports, and applied in-branch for the Sapphire Reserve card.
The personal banker who completed my application only asked for my income and my mother's maiden name. After submitting the application I asked if I had been approved; he did not say "Yes" but instead told me I would be receiving the card in 7-10 days. He then printed up a two-page document titled "Credit Card Rates and Fees for New Accounts" and handed it to me in a blue Chase folder.
My limited understanding is that a 7-10 day message means denial so I wondered why the PB responded so confidently. Hoping to ease my anxiety I called the Application Status line yesterday (9/5) and got a message stating that my application was being reviewed and I would be informed of a decision in 7-10 business days. At this stage, and given that I'm well in excess of 5/24, should I wait out the decision or do I now call in for reconsideration?
Thanks.
Sep 6, 2018, 9:43 am
#1971
Join Date: Nov 2014
Location: NYC
Posts: 557
New member here.
Last week I had to visit two separate Chase branches; during these visits I was informed by two personal bankers and a Business Relationship Manager that I had pre-approvals for all the credit cards offered by Chase. I declined to apply because I am 13/24, and my credit reports were locked. But by Saturday (Sept 1) my curiosity got the better of me so I unlocked my credit reports, and applied in-branch for the Sapphire Reserve card.
The personal banker who completed my application only asked for my income and my mother's maiden name. After submitting the application I asked if I had been approved; he did not say "Yes" but instead told me I would be receiving the card in 7-10 days. He then printed up a two-page document titled "Credit Card Rates and Fees for New Accounts" and handed it to me in a blue Chase folder.
My limited understanding is that a 7-10 day message means denial so I wondered why the PB responded so confidently. Hoping to ease my anxiety I called the Application Status line yesterday (9/5) and got a message stating that my application was being reviewed and I would be informed of a decision in 7-10 business days. At this stage, and given that I'm well in excess of 5/24, should I wait out the decision or do I now call in for reconsideration?
Thanks.
Last week I had to visit two separate Chase branches; during these visits I was informed by two personal bankers and a Business Relationship Manager that I had pre-approvals for all the credit cards offered by Chase. I declined to apply because I am 13/24, and my credit reports were locked. But by Saturday (Sept 1) my curiosity got the better of me so I unlocked my credit reports, and applied in-branch for the Sapphire Reserve card.
The personal banker who completed my application only asked for my income and my mother's maiden name. After submitting the application I asked if I had been approved; he did not say "Yes" but instead told me I would be receiving the card in 7-10 days. He then printed up a two-page document titled "Credit Card Rates and Fees for New Accounts" and handed it to me in a blue Chase folder.
My limited understanding is that a 7-10 day message means denial so I wondered why the PB responded so confidently. Hoping to ease my anxiety I called the Application Status line yesterday (9/5) and got a message stating that my application was being reviewed and I would be informed of a decision in 7-10 business days. At this stage, and given that I'm well in excess of 5/24, should I wait out the decision or do I now call in for reconsideration?
Thanks.
If you were given a document with a range of APRs, you may have been lied to about being preapproved.
Sep 6, 2018, 10:12 am
#1972
Join Date: Jan 2013
Posts: 1,435
I wouldn't go so far as to say you were lied to, but I would guess you were mis-informed by an over-eager clerk (who probably makes some commission on every new account he signs up). It's the old "listening to some kid at Chase instead of Flyertalk" syndrome, Happens to many of us.
Sep 6, 2018, 12:15 pm
#1973
Join Date: Sep 2018
Posts: 7
If the document you were given has a fixed APR and a notice about pre-screened offers of credit, then you were preapproved and should be approved. They could just be performing normal verification or review.
If you were given a document with a range of APRs, you may have been lied to about being preapproved.
If you were given a document with a range of APRs, you may have been lied to about being preapproved.
I also remembered being given similar documents when I applied for the Chase Freedom card in December 2017 so I grabbed them to compare. The Disclosure for the Chase Freedom has a 0% APR for the first 15 months, then a single APR for purchases. I wasn't aware of the Application Status line so I never called and the Freedom card just showed up in the mail after the holidays.
I suppose I should assume I was "lied to" but I was told about the pre-approvals by three different bankers at two separate locations. I first went to a branch near my office to make a deposit and I asked the teller if I had any pre-approvals. He told me "Yes" and that I should see I personal banker. I spoke with the PB and she confirmed I had several pre-approvals and encouraged me to apply. I declined but I asked her if she could print out which credit products I had pre-approvals on and she gave me a 2-page listing that shows the CSP, CSR, Slate, Freedom, Freedom Unlimited, United MileagePlus Club, and United MileagePlus Explorer cards.
The next day I went to my "home" branch to open a Business Checking account so I spoke with a Business Relationship Manager. After spending nearly an hour opening the account, I specifically asked the BRM if I had any pre-approvals and she too said yes and rattled off a list that included several Ink cards in addition to the personal cards I was told about the day before. She even removed the privacy screen from her monitor and turned it to face me and I saw several images of what looked like mock-ups of credit cards where she read off the names. Unfortunately my mind was racing too much at that point to ask her to print it out.
But it was on the basis of those two previous conversations with the PB and BRM that I went back to my "home" branch again on Saturday. The PB I'd worked with in the past was off that day so I met with another one who took my application for the CSR and submitted it. But before doing so I told him that I had been previously informed of pre-approvals and he looked it up; I could see him look at a drop-down list then he confirmed I had pre-approvals for several credit products out of which I chose to apply for the CSR. He only asked for my income and mother's maiden name which I understand is the only information required when pre-approved.
Anyway, the question is do I ride out the 7-10 day process or call recon right away?
Last edited by BelleCityFlyer; Sep 6, 2018 at 12:55 pm
Sep 6, 2018, 12:19 pm
#1974
Join Date: Sep 2018
Posts: 7
I wouldn't go so far as to say you were lied to, but I would guess you were mis-informed by an over-eager clerk (who probably makes some commission on every new account he signs up). It's the old "listening to some kid at Chase instead of Flyertalk" syndrome, Happens to many of us.
My apologies for the length of my comment.
Sep 6, 2018, 4:01 pm
#1976
Join Date: Dec 2017
Posts: 1,107
Something to consider is your 5/24 may not be as bad as you think. There are cards out there which Chase does not count against that limit. So, in theory at least, it is possible that you’re not in near the shape regarding 5/24 that you assume. Note I said “possible”, and not “probable.”
I would wait it out and see what happens. Check your Chase account off and on, and maybe call again a week from now.
I would wait it out and see what happens. Check your Chase account off and on, and maybe call again a week from now.
Sep 6, 2018, 11:10 pm
#1977
Join Date: Aug 2015
Location: WAS/TYO
Programs: AA PPro, TP Gold, UA Silver, Bonvoy/Hilton Gold, Global Entry
Posts: 296
I've applied for a Chase card before, and I've been rejected pretty instantly. I called recon as soon as the 7-10 day message popped up, and was told instantly that my credit history was too thin ( < 1 year) to qualify and was told to apply again when my file matures.
So I did just that a few days ago, and was met with the dreaded 7-10 day message. This time, I waited 3-4 days after I first noted the 7-10 day message, and then called recon. This time, I was told that my application was still "pending," and that I needed to give it more time. I've also recently changed addresses, which I suspect is not yet on file on my credit report (my latest financial statements all reflect my old address).
I was wondering - are most rejections instant (as I experienced on my first try)? What are the chances that this is a verification thing, and not a rejection?
Thanks in advance!
So I did just that a few days ago, and was met with the dreaded 7-10 day message. This time, I waited 3-4 days after I first noted the 7-10 day message, and then called recon. This time, I was told that my application was still "pending," and that I needed to give it more time. I've also recently changed addresses, which I suspect is not yet on file on my credit report (my latest financial statements all reflect my old address).
I was wondering - are most rejections instant (as I experienced on my first try)? What are the chances that this is a verification thing, and not a rejection?
Thanks in advance!
Sep 7, 2018, 5:52 am
#1978
Join Date: Sep 2011
Posts: 1,857
- You weren't pre-approved
- You were pre-approved however the banker applied via a regular link rather than the pre-approval link
Sep 7, 2018, 7:32 am
#1979
Join Date: Sep 2018
Posts: 7
The APR range on your disclosure form indicates one of 2 things:
- You weren't pre-approved
- You were pre-approved however the banker applied via a regular link rather than the pre-approval link
Then I looked at the Disclosure I got when applying for the Freedom card last year and it does contain the language you described on the first page, then directs me to read additional information in a section titled "Notice About this Offer."
At this point I'm tempted to call the personal banker and get clarification about what he actually did since it looks like a denial.