flyingsna

Wanted to get some info on FT-- There's been a few DP on r/churning regarding people who double dipped (CSR/CSP) early Sept.

After auto approval on both, one account becomes Closed before the card is even shipped. Seems like Chase is making big anti-churning changes!

I would recommend taking a lot of consideration to this if you're planning a double dip.

Edit: Am I allowed to I add links from r/churning?

Diplomatico

https://old.reddit.com/r/churning/co..._for_churners/

sdsearch

Yes, but there's one thing that write-up that I disagree with.

"4/24 Double Dip

Obviously, this is dead."

It's not obvious at all, because Chase evaluates 5/24 based on looking your credit report for cards with an "opened on" date in the past 24 months. Well, new cards typically take several weeks (if not a month or more) to show up on your credit report, and so if you are trying to get 2 cards while at 4/24 you don't need to get them on the same day at all. You just need to get the second one approved before the first one is showing up on your credit report.

Meanwhile, all these posts on reddit are about same day double dipping, not about double dipping a couple weeks apart. But it's double dipping a couple weeks apart which would have to be dead to kill 4/24 double-dipping, wouldn't it?

pallhedge

Applying for cards a couple weeks apart is not double-dipping and doesn't take advantage of the loophole. Try that at 4/24 and the second card will be denied--which is why double-dipping started.

sdsearch

Why? Chase evaluates 5/24 by looking at your credit report and counting all the banks cards showing there with an "opened on" date in the past 24 months.

But new cards take a while to show up on your credit report, so as long as you apply for the second card soon enough to be approved before the first card shows up on your credit report, Chase won't see it.

Yes, they could theoretically look inside their own systems to see it, but we know for a fact that they don't do that for Chase business cards. So why would they do it for this if they don't do it for Chase business cards?

flyingsna

Applying for a 2nd card after a few days (even before 1st shows up on your credit report) would also require a second hard pull, if I'm not mistaken. The issue is that CSP and CSR are both "Sapphire" family cards, which Chase only allows one. If you apply for a 2nd Sapphire card, they would deny you.

pallhedge

All I have are data points--they don't answer the question "Why?". Early on, Chase biz cards counted towards one's 5/24. That changed after a few months. We know for a fact that they no longer count via crowd sourced data points.

Similarly, crowd sourced data points also prove that they they count recently opened Chase personal cards that don't yet appear on your credit report. That was the genesis of the double-dip. Once the 5th card is approved, there is a finite amount of time where you can apply and be approved for card 6. That time is measured in hours, not weeks.

All that said, I agree with you that this aspect of the double-dip is not necessarily dead. At least I haven't seen enough proof. Chase is clearly reviewing double Sapphire apps. This probably extends to double Southwest apps. What about a United Explorer and Freedom double-dip? Would that also be reviewed? I'm not convinced it would be. Time will tell.

mia

I speculate that the Chase business card manager complained that their own business cards were at a competitive disadvantage compared to American Express, Citi, which are hidden from the 5/24 algorithm.

vbnet

Hold your breath, keep your fingers crossed, I just tried it. Approved for both. Should I reduce the credit limit or let it ride? I was officially 2/24 personal, 1 biz, I'll keep my cell on in case they try calling and maybe I can negotiate reducing credit limit if that's a problem.

pallhedge

What cards did you apply for? Both Sapphires?

vbnet

yah, sometimes I'm just a glutton for punishment jk. Hoping to pull it off with a possible lowering of cl on csp rather than closure.

seems it can go either way according to posts on reddit.

pallhedge

Well, we must be reading a different reddit. Nonetheless, I'm rooting for you.

vbnet

reddit is cumbersome to learn from because of all the comments and a gazillion posts a day. I must admit the odds are bad but what the heck.Thanks for the well wishes, and of course I will report back.

vbnet

Well, that didn't take long. 24 hours after the 2nd app being approved, Chase called from a Tempe Arizona (420) area code. They wanted to close the CSP (my 2nd app) but did give me the option of choosing. Reason: multiple applications on the same day and encouraged me to apply again in the future (I think that would be a waste of time and pulls). But I was nice. I asked if she could push it through and she said not with multiple applications on the same day.

Darn, I had the organic spend all laid out.