Warning: Don’t apply for too many Chase credit cards

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Warning: Don’t apply for too many Chase credit cards

Million Mile SecretsWarning: Don’t apply for too many Chase credit cardsMillion Mile Secrets Team

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I had my toughest call with the Chase credit card reconsideration department a few weeks ago, and I’ve decided to be very selective with my Chase credit card applications.

Hey, there must be a pretty good reason if Gary from View from the Wing isn’t maxing out the Chase offers!

A few weeks ago, I applied for the Chase Southwest credit card which offered 50,000 points ($833 in flights), because it was the best sign-up bonus, in my opinion, for domestic travel.

Since I have 3 other Chase cards (the Chase British Airways, Priority Club, and United business card), I expected to get a denial letter in the mail.

I wasn’t worried, because as I explained in an earlier post on Why The Chase “6-Month Rule” Is a Myth:

Most banks set a limit on the TOTAL credit amount which they will extend to you.  This limit is based on the bank’s internal risk-taking (or underwriting) policy, your income, length of credit history, and other variables on your credit report.

You may reach this total limit with 2, 3, or 4 or more credit cards, depending on the credit limit assigned to each credit card.

Sure enough, I got a denial and the reason was “Too many requests for credit or opened accounts with us”

No problem, I’ve counseled many folks on how to call credit card reconsideration analysts and get approved for credit cards so I wasn’t worried.

I logged into my Chase account online so that I could see my current accounts, and had a copy of my credit report with me.  I then called the “secret”  reconsideration line and was immediately speaking with a credit reconsideration analyst.

Chase Reconsideration Call

Me: Hello!  I recently applied for the Chase Southwest credit card and was wondering if there was any way to get that approved?  I’m a long time Chase customer and I know that I have very large credit lines with Chase.

(I let the rep know immediately that I am an existing Chase customer with large credit lines, so that the rep can classify me as an existing creditworthy customer)

Analyst: Sure.  Let me take a look.  What’s your reference number?  Ok, let me put you on hold.

Me (thinking): This is going to be a cakewalk!

Analyst: It looks like there is a lot of activity on your credit history.  You’ve opened 7 accounts in the last 2 years with Chase.  Is there a reason why you need so much credit?

Me: *I knew immediately that this wasn’t going to be an easy call!*

I don’t need the credit, in fact you’ll notice that I always pay off my balances and have never missed a payment.  My…

Analyst (interrupts): It is concerning that you have so much credit bureau activity and you’ve closed quite a few accounts as well.

Me: I can see why that is concerning.  I moved from Chicago and I didn’t need my Continental Airlines personal and business cards anymore because Continental doesn’t have good service from my airport.

In fact, that’s one of the reasons why I want the Chase Southwest credit card since Southwest has great flight availability from my airport.  I also applied for the Priority Club credit card recently, because it is one of the preferred hotel groups for my company.

And I cancelled my United Economy Plus credit card because the annual fee was too much and I already had a United credit card.

(I truthfully explained why I was opening and closing credit card accounts, that didn’t reference the huge sign-on bonus.  I was trying to show the analyst that I wasn’t applying for credit cards because I was broke or just for the sign-on bonuses.)

Analyst: Let me see what I can do.  *Places me on hold*

Me (thinking): Almost there!

Analyst: Unfortunately, I’m not going to be able to approve you right now.  Your activity is troubling, so try again in 3 months.

Me: *Trying hard to not sound surprised*  Sure, fair enough. It is what it is.

(In my experience, being calm and agreeable when someone conveys bad news almost always gets you respect and reconsideration, because most folks give up or argue rudely when confronted with bad news).

But I also wanted to let you know that I’ve been a Chase customer for over 10 years, and I’ve recently been putting a lot of expenses on my British Airways card.  And I’ve never missed a payment with Chase or anyone else.

(I wanted the analyst to know that I was a long time loyal customer, and that I was putting a lot of spending on my British Airways credit card to qualify for the Companion Pass which would let me have 2 award redemptions for the price of 1.  The credit card market is saturated, and banks like customers who spend a lot on their credit cards).

What would you suggest I do?

(A person is more likely to pursue a course of action if he or she believes it is THEIR idea.  I wanted to see if the rep would suggest closing a credit card or transferring credit from an existing card).

Analyst: *Puts me on hold again*  Well, we can do a line exchange.

Me: What’s that?

(I know what a line exchange is, but want the analyst to explain it to me so that the analyst feels important and more committed to the solution he suggested).

Analyst: We reduce your credit line on an existing credit card and transfer that line to your new credit card.  How much would you like to transfer over?

Me: You can transfer $7,000 from my United credit card since I don’t use that very much.

Analyst: *waits for system to approve the line transfer*  Ok, you’re all set now.  You’ll receive a letter in the mail in 5 to 7 business days.  Thanks for calling Chase.

Me: Thanks!  That’s why I’ve been a Chase customer for more than 10 years.  Have a good day.

Lessons Learned:

Chase is getting serious about not approving applications if there is a pattern of opening lots of reward credit cards.  Chase currently does not give you the bonus on a credit card again if you already received the bonus earlier, unlike Citibank and American Express.

You may be able to get 3 or 4 Chase cards approved in a short period of time, especially if you don’t have a lot of Chase credit cards.  But, it gets harder in future years, as Chase can see your history of opening and closing accounts.

As Mommy Points wrote earlier on the same topic, Chase issues a lot of reward cards (Priority Club, Marriott, United, Southwest, Hyatt etc.) so you really don’t want to be on their blacklist.

And they have blacklisted folks from applying for credit cards.

Bottom Line:

I’m going to be very selective with my Chase credit card applications and limit myself to 2 to 3 applications a year with Chase.

It is VERY important to only apply for a Chase card with a high sign-up bonus, since you will NOT be able to get the sign-up bonus on that same card type again.

For example, I would NOT recommend applying for the current Chase Southwest Airlines credit card which offers only 25,000 points since there were 2 better offers earlier this year.  I’d wait for a better offer.

Now, here’s hoping that the Chase Sapphire Preferred will increase the sign-on bonus as it battles it out with the American Express Premier Reward Gold card!

Large credit card bonuses lets us all have Big Travel with Small Money!

What have been your experiences applying for credit cards with Chase?  Tell us in the comments.

Related Posts:

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Good news! I called back the reconsideration line and let them know about the limit decrease on my personal card and also made sure it was clear that the rental unit was part of our primary residence so no additional mortgage risk for it. The rep said she is now recommending approval but initially denied apps have to be run by a supervisor first so they’ll have an official answer within 3 days.

I applied for the Southwest Plus card with 50K bonus a few weeks ago and was instantly approved. 10 days later, I applied for the Business version using my SSN. I received a denial letter stating too many inquiries with them. When I called the reconsideration line, they asked for business information and, rather than BS it, I gave them real information about our basement rental, saying I’d like to start segregating expenses. They put me on hold for 5 minutes or so and then denied based on short history (3 years), low revenue (20K/year), and something vague about too many Chase requests on my personal account (besides the Southwest card, most recent was Amazon card in 2013). I asked if lowering the 27K limit on my new Southwest card would help and she said it would overall but business card would still be denied based on short credit history/low revenue.

I went ahead and lowered my limit on the new card to 7K (my % available credit is still pretty high because I have a few other cards and pay off every month). Any advice on what to say when I call the reconsideration line again?

OR, should I just apply for another personal card (Southwest Premier) and hope I get approved since I lowered the limit on the Plus card? If they ask me why I applied for it, should I still say it’s to segregate my rental expenses or would that be frowned upon since it’s not a business card?

Jordan Kaplowitz

I just applied for the Chase Freedom card. This was my 4th card application and 3rd chase application in 1.5 months. I did not get instantly approved, so I called them up. The guy on the phone was super friendly, and approved it within 5 mins.

Thank you chase!

I just wanted to relate my experience with the Chase reconsideration line. I applied for the Chase Sapphire preferred and was given the dreaded 30 day letter. I called the reconsideration line and they noted eight and eight-year-old bankruptcy and a couple tax liens on my record the gentleman was very helpful disappeared for about 10 minutes while they considered me. He came back with th I just wanted to relate my experience with the Chase reconsideration line. I applied for the Chase Sapphire preferred and was given the dreaded 30 day letter. I called the reconsideration line and they noted eight and eight-year-old bankruptcy and a couple tax liens on my record the gentleman was very helpful disappeared for about 10 minutes while they considered me. He came back and indicated because I had a banking relationship with them and had not included any Chase debt in the bankruptcy, I would be approved for an initial $5,000 limit!!! By the way, I was originally denied in the system I was told due to the BK!

It ought to be noted that this is to a great extent an American issue. In numerous different nations, (for example, Britain, Australia, New Zealand), you can just send cash from your financial balance to another person’s as an essential capacity of having a record. No charges, no chaos, no center men standing watchman. Essentially a check sans paper. I don’t know why we haven’t made sense of this in the US. (clearly on the grounds that banks have a huge hall and they have no craving to secure individuals and to charge charges for things.

I also would like to congratulation for this great contribution of chase online app.

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