Jonesdds

I'm saying I wouldn't want to close one of her three personal cards as they all earn free night certs we use and get much more value than the annual fees. But, if I closed one as the agent for Chase suggested, those would count against 5/24 if we reapplied. When she applied for them they didn't at that time, now they do. That's the point I'm making.

As said in my original post I assumed when she called she'd be able to move CL over to get approval, or maybe just lower some of what she has. But when we made that offer it was still a no....she'd gladly reduce some or all to get approval.

nwflyboy

Got a question about how Chase looks at combined credit extended across personal and business cards...

The short version: When applying for a personal Chase card, does Chase look at their total combined credit exposure on both your existing personal and business cards together? Or are those two separate buckets?

Longer version: I've had a long, beneficial relationship with Chase. Currently have 5 Chase business cards, and 4 Chase personal cards. I've had most of these cards for many years (I went on a diet once Chase started getting serious with their 5/24 policies, and have kept a pretty clean nose for the past 3-4 years). I'm currently at 2/24 by Chase's count. Combined credit line for all business cards is roughly $40K, combined credit line for all personal cards is roughly $25K, so combined Chase credit card exposure around $65K. (Income is substantially more than 2X that, FICO 860.) Last time I applied for a Chase card (was a business card), about a year ago, I was surprised at how small a credit line they gave me ($4K), and I took that as a clear sign that I was nearing the limit of what they were comfortable extending.

I'm planning to close one of my business cards soon. I'm also planning to reduce the credit limits (a bit) on several of my business and personal cards. Between one (business) card closure and reducing CLs on multiple cards (both business and personal), I'm looking to free up a combined total of around $10K credit. More than half of that would come from closing/reducing CLs on my business cards, some of it would come from reduced CLs on personal cards.

My goal would be to get auto-approval for a new personal card that I hope to apply for soon (I'd give it a month for the credit reduction to work its way through their system). While I'm reasonably confident they would approve me, I'd like to avoid getting a crazy low credit line on the new card. So I'm hoping that reducing Chase's exposure by $10K would make them comfortable with a credit line somewhere approaching that figure. But that would probably require that they look at their credit card exposure for both personal and business cards as a single, pooled value. My question is: is that a reasonable assumption? Or do they look at personal and business credit as two separate buckets (meaning: any reduction in my business card credit would not really give me any more head room for a new personal card)?

Hope the above all makes sense. Thanks.

pallhedge

Yes they did. Since the inception of the 5/24 rule, all personal credit cards have always counted.

Jonesdds

I'm sorry, I said that all wrong and my point about that made no sense. You could apply and get them if you were 5/24 or over a year or two ago. And that will probably be a limiting factor in her ability to get those cards again. That is the point I meant to make.

pallhedge

That makes sense. Thanks for the clarification.

mia

Is there any reason not to lower the limit on all three of these cards to, say, $5000? This does not require closing any card, just lowering the limits. This may not get today's application approved, but there will be others.

EdofFX

Forget about what the agent said about closing. Mia is asking about reducing the credit limits on her existing cards, not closing any of them. Your wife can just send a Secured Message to Chase to reduce the credit limit on any particular card to just one or two thousand. They usually do it within 24 hours in my experience.

It may take awhile for those credits to become available to her again. I usually wait about 30 days before applying to be on the safe side. Perhaps others can chime in if they have turned the credit around in a shorter time frame.

ChateauMargaux

Applied for Freedom Flex and got pending review - should I call?

Currently at one new account in the past 24 months.

pallhedge

Sure, it can't hurt.

ChateauMargaux

Denied because I had "too many recent Chase credit card requests". I applied for CSP in June (instant approval) and Ink Business Unlimited in June (denied). Besides that, no other Chase credit card applications since May 2018.

MarbeL1337

Chase's terms state:
"I understand that any new cardmember bonus offers for this product are not available to either current or previous cardmembers of this product who received a new cardmember bonus for this product in the last 24 months."

Does the 24 months since you received the last bonus count between when you last got the bonus and when you'll get the new bonus? Or does the 24 months count between when you last got the bonus and when you sign up for the new offer?

I signed up for the Chase Ink Business credit card somewhere around 6/1/18. This is the date I received an email that says "You're approved for Ink Business Preferred". I probably took the whole 3 months to get the bonus last time, meaning I could have received the bonus as early as 9/1/18. However, credit card companies don't usually post bonuses right away, so I estimate I could have received the bonus as late as 11/1/18.

I'm wondering if I'm good to apply for the card again or if I need to wait. Unfortunately, I didn't keep good records. I've closed the credit card since then so I can't go to Chase.com to see when the points were added to my account. It's a business credit card so credit karma is no help either in determining when I opened the account. Luckily I at least had an email saying I was approved on 6/1/18.

I appreciate the help!

-Jeff

Happy

It is based on the Bonus ISSUED date which is almost always on the statement closing date, which mostly has no relationship to the date you are approved.

MarbeL1337

OK, so it's based on when I received the bonus. Is the end point of 24 months when I'll receive the next bonus, or when I sign up for the new credit card?

Diplomatico

The latter.

MarbeL1337

Thank you! I'll wait to 11/1 to be safe