Talk about a brick wall.
I mean a solid as a rock brick wall.
What wall? you ask.
The new-ish rule from Chase that if you have applied for more than 5 credit cards (including authorized users from any bank) in the past 2 years (yes that is 24 months as you see above) you have ZERO chance of being approved for many Chase cards. Soon, it seems, all of them including co-branded cards and business cards as well.
Notice the credit score above. What stands out to you. Maybe the fact that it is just a few points away from a “perfect” score? Yeah, I am impressed with my wife’s score.
My wife decided, for the points yes but also for testing purposes, to go for a new Chase Sapphire card because it had been a while (years) since she had one. The result when calling in to see if there was a way to get approved (since there was no instant approval) was NO. No moving of credit lines around and no chance to speak to a supervisor or anyone else. She was told this was a “policy decline” and no one could change that at Chase bank to approve the card. Period!
Now keep in mind the same day she was approved for a:
- Barclaycard Arrival Plus World Elite MasterCard
- Citi Prestige Card (too good an offer to pass up)
- Hilton HHonors Card from American Express (we need hotel points)
- Americard Travel Rewards Credit Card
Now with AMEX we have to be careful, if we want a new card bonus, that we have never had THAT specific card bonus before but even if you have had that, under the new rules with AMEX, you can still at least get the card again – just not the bonus.
See why the Chase rule is so nasty and long term just a stupid rule for the bank? They are flat out blocking you for LIFE to ever get most cards EVER again (unless you are willing to wait 2+ years between card applications).
Even if you just want it to use as a card with no bonus. Something to keep in mind if you currently HOLD certain Chase cards.
These are interesting times in the world of travel cards. As many have reported at some point this month the 5/24 rule from Chase will engulf co-branded as well as business cards. If there are any of these types of cards you are thinking of going for, if you delay much longer, you may be out in the cold (for good)! – René
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