Yikes, Hope I'm not next!
Aug 28, 2018, 1:36 pm
#1
Original Poster
Join Date: Aug 2007
Location: United States
Programs: Hilton, marriott, IHG, Club Carlson, United Airlines,timeshare owner
Posts: 213
Yikes, Hope I'm not next!
Aug 28, 2018, 3:03 pm
#2
Join Date: Aug 2011
Location: ELP
Programs: AAdvantage, Amex MR
Posts: 2,314
This worries me too, but I figure my strategy is still low enough to stay under Chase's radar. In a couple of weeks I plan on applying for the Chase southwest card to fund a trip to Las Vegas next spring, then later this fall I plan on going for a hotel card, either IHG or Hyatt to fund some travel next summer, then lay low next year, then apply for maybe one or two more at the end of the year. Will only use the cards for standard purchases until the signup bonus is hit, no MS, no Gift cards, nothing out of the ordinary.
I figure even if I churn and collect signup bonuses, as long as its only 1 or 2 cards a year I doubt Chase will pay attention to me.
You only need to worry if you are the type that once you are under 5/24 you open another chase card or two to get back to the limit, then hit up other banks all in a short amount of time, buy loads of gift cards at office supply stores, only use the card for bonus categories, etc.
From reading the shutdown thread it seems the majority of shutdowns occur due to either opening many cards in a short period of time or manufactured spend. Even moderate MS is seeming to get people on Chase's radar now.
I figure even if I churn and collect signup bonuses, as long as its only 1 or 2 cards a year I doubt Chase will pay attention to me.
You only need to worry if you are the type that once you are under 5/24 you open another chase card or two to get back to the limit, then hit up other banks all in a short amount of time, buy loads of gift cards at office supply stores, only use the card for bonus categories, etc.
From reading the shutdown thread it seems the majority of shutdowns occur due to either opening many cards in a short period of time or manufactured spend. Even moderate MS is seeming to get people on Chase's radar now.
Aug 28, 2018, 5:31 pm
#4
Join Date: Feb 2009
Posts: 6,606
This worries me too, but I figure my strategy is still low enough to stay under Chase's radar. In a couple of weeks I plan on applying for the Chase southwest card to fund a trip to Las Vegas next spring, then later this fall I plan on going for a hotel card, either IHG or Hyatt to fund some travel next summer, then lay low next year, then apply for maybe one or two more at the end of the year. Will only use the cards for standard purchases until the signup bonus is hit, no MS, no Gift cards, nothing out of the ordinary.
I figure even if I churn and collect signup bonuses, as long as its only 1 or 2 cards a year I doubt Chase will pay attention to me.
You only need to worry if you are the type that once you are under 5/24 you open another chase card or two to get back to the limit, then hit up other banks all in a short amount of time, buy loads of gift cards at office supply stores, only use the card for bonus categories, etc.
From reading the shutdown thread it seems the majority of shutdowns occur due to either opening many cards in a short period of time or manufactured spend. Even moderate MS is seeming to get people on Chase's radar now.
I figure even if I churn and collect signup bonuses, as long as its only 1 or 2 cards a year I doubt Chase will pay attention to me.
You only need to worry if you are the type that once you are under 5/24 you open another chase card or two to get back to the limit, then hit up other banks all in a short amount of time, buy loads of gift cards at office supply stores, only use the card for bonus categories, etc.
From reading the shutdown thread it seems the majority of shutdowns occur due to either opening many cards in a short period of time or manufactured spend. Even moderate MS is seeming to get people on Chase's radar now.
The Yahoo user comments show how clueless people are to how this game works
This article is not news, we already knew all this. My wife and I switch on and off getting cards for 2 years while the other one is idle. Our new strategy is from once we hit 5/24 at Chase that's it....no more trying to sneak in Chase cards that don't fall under 5/24. We then move on to other banks and get back to Chase years later
Last edited by flyer4512; Aug 28, 2018 at 5:48 pm
Aug 29, 2018, 11:42 am
#5
Join Date: Mar 2007
Location: SJC/SFO
Programs: WN A+ CP, UA 1MM/*A Gold, Mar LT Tit, IHG Plat, HH Dia
Posts: 6,285
I saw that article this morning, too, and then came here to see the discussion. 
Major media routinely misunderstands specialized forums like those cited. Those of us in these forums are like the 1%. We hit credit card offers harder than the other 99% of credit card consumers. Furthermore, the people experiencing shutdowns are like the 1% of the 1%, a very narrow subset. The media presents these stories as if the average consumer is at risk because they want to gain clicks from the average person, while in reality it's only those at the extreme end of the spectrum who are being affected.
Major media routinely misunderstands specialized forums like those cited. Those of us in these forums are like the 1%. We hit credit card offers harder than the other 99% of credit card consumers. Furthermore, the people experiencing shutdowns are like the 1% of the 1%, a very narrow subset. The media presents these stories as if the average consumer is at risk because they want to gain clicks from the average person, while in reality it's only those at the extreme end of the spectrum who are being affected.
Aug 30, 2018, 12:24 pm
#8
Join Date: Aug 2015
Location: SIN
Posts: 1,098
Nope. If you earned the points, they don't claw back. Unless you were doing something like buying and returning stuff repeatedly.