goodeats21

Interesting stats. I had no idea that many people were getting cards in such a short period of time. Of course, these numbers are not limited to just Chase Bank, so probably not a true 21%...but a bigger number than I imagined, for sure.

JHake10

Mostly one seat which is much easier. I do look for two on some occasions. I find that KE is better than SQ in that regard. I'm a UA 1K and don't see two seats on most preimum routes to/from the US somewhat in advanced. I had to wait until 1 day before departure to get LHR-SFO (on a Tuesday). Luckily for me as a 1K I don't pay any award fees.

WrightHI

They could add UA-specific perks to both the UA and premium UR cards. Delta and Amex seem a lot more strategic in how they line up the co-brand and MR cards with distinct and partially complementary benefits packages. Copy some of what they're doing - which is pretty much UA's business model - and you'd create more reasons for people to hang onto, and pay fees for, multiple cards.

And they probably need to admit that the current SR structure is just too generous. It's pretty much a pure points play, so attractive mostly to the sort of people who are good at maximizing their redemption values. Eliminate transfers from the free UR cards, increase the effective annual fee on the SR (via increased topline and/or reduced travel credit), and add UA lounge access to the SR, and you'd still have a pretty compelling package that would drive more spend to UA miles. We'd hate it, but it ought to work.

mikesyr18

Great find. I had no idea over 20% of the cardholder population was over 5/24.

flyershmlyer

can you provide link to this stats?

RNE

It is a true 21% because Chase doesn't count only its cards in the 5/24 measurement. All banks' cards count.

No. The stats appear at the bottom of my personal Creditwise page. But everyone who has Creditwise should see the same data.

flyershmlyer

Thanks for this!

Couple of things then to keep in mind when analyzing these numbers:

1. Creditwise shows account past 2 years, not just credit card accounts. This could be new car loan, student debt, etc. I know, these are not big, but still something to keep in mind when comparing these numbers to 5/24 rules.

2. They have distribution for the other factors that are important for credit score. One interesting thing:

20% people with less than 90% on-time payment! That would mean a person would miss at least one payment each year for each account to go below 90%. Oh, and also 18% have over 60% credit-card debt.

And I think there's a strong correlation between number of accounts and on-time payments. (People in debt roll-over credit cards, and also miss payments. Or some people are just reckless: open lots of cards, and also don't make payments).

So, for those people, even without 5/24, they might not get a Chase product. So, the relevant 5/24 crowd is much, much smaller than 21%, I think.

mia

This is worse than it may appear. For credit reporting purposes a payment isn't late until 30 days after the due date. In effect, you have to fail to pay for two consecutive statements.

RNE

Do we really know what types of accounts Chase considers?

I don't agree, but I respect your opinion.

mikesyr18

I believe the point others are making is that if 21% of today's credit card holders apply for a Chase card, they'll be denied because of 5/24.

I believe speculating on other points (such as who owns what card, who qualifies based on other credit factors, etc.) is making the conversation more complicated than it needs to be.

flyershmlyer

so far all datapoints refer to credit cards. unless you have a counterexample.

that's fine. my point is to contribute something meaningful to the discussion, and not necessarily change one person's opinion.

Oreto

I can believe this because I've seen people take up Target or Macy's or whomever with their "Save 15% today on your purchases today by applying for our card" spiel. Card benefits aside, the people utilizing these offers are in the market to save chump change in exchange for a hard pull.

Right now, I'm at 3/24 so I don't have an insight into the thought processes of some of these individuals but I do see this enough that it bears mentioning.

theonewhoflutters

Counterpoint: I'm just diving into this crazy world and just recently got approved for the CSR. So recently that I haven't had to pay the fee yet.

Already getting travel credits (and indeed, using all of mine for '17 this month)

hkcj

Are there any examples of UR dropping partners? In such a case, is it immediate? E.g. do I need to take defensive steps and transfer my points to United now? (Which decreases their value, of course.)

mia

Amtrak:

Announcement regarding Chase Ultimate Rewards


Korean Air disappeared temporarily:

Chase has stopped transfers to Korean Air [now back]