Chase Sapphire Preferred-Denied

gdale6 · ‎08-22-2016

Hi all,

Havent been denied a card in over 6 years until running up against the absurd 5/24. Had 7/24 ( will be 5/24 in 3 mos) and over 780 Fico was still kicked out. Wont app for anything with them again, a waste of not 1 but 2 pulls. I dont like how Chase runs their operations, not taking cash in branches for payments, refusing to issue credit if you have more than 5 CCs in 2 years while still making nearly 6B a quarter in profits, they act like they are king. Anyway, rant over on these fools....

Adding: Forgot to say got 30 day message, they took 1 day to deny.... The app was NOT given careful consideration a bunch of you know what./24

Adding: Was actually 6/24 according to their rules on 5/24 posted earlier the week of Aug 25th in the CC Forum.

sunkissed · ‎08-22-2016

Sorry gdale6. You're not the only one frustrated with this 5/24 nonsense. I am also over - and not even sure by how much because I don't know how store card upgrades are counted. I haven't been brave enough to try for CSR yet and don't know if I will.

echoecho · ‎08-22-2016

Same here as soon as I got a replacement for it hopefully with NFCU. Last month I did a cli spree on ALL of my 4 cc, all but chase gave. It's now on the sock drawer except for my quarterly payment for water and trash pickup. Have not had any cli from them in years since I normally don't ask but the other three dutifully auto cli me. Not Chase. Just wanted to rant about chase too, tanks.

Glkslngr · ‎08-22-2016

Very shocking. I would be pretty upset myself.

Discover2016 · ‎08-22-2016

@gdale6 wrote:
Hi all,

Havent been denied a card in over 6 years until running up against the absurd 5/24. Had 7/24 ( will be 5/24 in 3 mos) and over 780 Fico was still kicked out. Wont app for anything with them again, a waste of not 1 but 2 pulls. I dont like how Chase runs their operations, not taking cash in branches for payments, refusing to issue credit if you have more than 5 CCs in 2 years while still making nearly 6B a quarter in profits, they act like they are king. Anyway, rant over on these fools....

I was also pretty bummed about 5/24 since I really wanted the Reserve

Gardening until September 2025
Next app: Mortgage in September 2025

sandman2435 · ‎08-22-2016

@gdale6 wrote:
Hi all,

Havent been denied a card in over 6 years until running up against the absurd 5/24. Had 7/24 ( will be 5/24 in 3 mos) and over 780 Fico was still kicked out. Wont app for anything with them again, a waste of not 1 but 2 pulls. I dont like how Chase runs their operations, not taking cash in branches for payments, refusing to issue credit if you have more than 5 CCs in 2 years while still making nearly 6B a quarter in profits, they act like they are king. Anyway, rant over on these fools....

Adding: Forgot to say got 30 day message, they took 1 day to deny.... The app was NOT given careful consideration a bunch of you know what.

I totally understand where you are coming from,I've been banking with chase for almost 5 years and I keep a good amount of money in there,I have personal checking,busniess checking,personal savings,business savings,6 chase credit cards(can not get FU,CSP,CSR and Freedom.,because of 5/24)I have well into 800's with all 3 credit reports,Pay in full every month,make well into 6 figures for an income and have no debt own a very profitable buiness(house and truck paid off) have a nice size roth IRA(not kept in chase)So today I walked in my branch and was the first one there this morning,I asked my banker if I had any pre-approvals(wishful thinking)and like always I never get pre-approvals,I think its because of the amount of credit I have avaliable to me,I did the app and it came back 7 to 10 days,My banker asked me if she wanted to call into lending to see what was up,I told her that I would just wait for the decline letter,She asked what makes you think that you will be declined,So I let my banker in on the 5/24 rule and she was kinda surprised that chase had that rule,And knowing me the big credit card guy filled her in on it,I told her that I'm way over the 5/24 and to bypass it.2 things, have a pre-approval waiting in the branch or become a CPC and put in $250,000 in chase,Chase knows that most of use will pony up the $450.00 for the card and maybe only half can make the min spend of $4000,00 to get the 100,000 UR bonus,I know I'm going to get a decline letter next week,But at least I gave it a try,I missed the leaked app that came out last week were most was getting approved,I missed the leaked app by about 5 minutes as the cable guy came to the door and I had to walk away from the computer for over an hour

Anonymous · ‎08-22-2016

@gdale6 wrote:
Hi all,

Havent been denied a card in over 6 years until running up against the absurd 5/24. Had 7/24 ( will be 5/24 in 3 mos) and over 780 Fico was still kicked out. Wont app for anything with them again, a waste of not 1 but 2 pulls. I dont like how Chase runs their operations, not taking cash in branches for payments, refusing to issue credit if you have more than 5 CCs in 2 years while still making nearly 6B a quarter in profits, they act like they are king. Anyway, rant over on these fools....

Adding: Forgot to say got 30 day message, they took 1 day to deny.... The app was NOT given careful consideration a bunch of you know what.

sorry to hear this gdale, I was already hit once with it in May when I got my Ink+ app in before they applied this auto-denial, but they dragged their feet so long that by the time it got to final approval the rule was on business cards too and they then denied me. I'm waiting for a CSR 5/24 denial as we speak. Haven't called the status line but the data is pretty strong that online apps over 4/24 are all being hit with it.

Just for a data point, did you apply online or at a branch for CSP?

CreditCuriosity · ‎08-22-2016

Sorry to hear gdale. I personally believe it is a very dumb rule being the 5x24 rule. Especially with a card with a high AF of 450, granted the sign-up bonus is alot,, but as stated alot of people don't make the spend to get bonus. You think they would value relationships and such which apparently they do to some extent if one goes into branch if pre-appproved you can possibly get past the 5x24 rule. I think partially what ruins it is people that dropped their CL say on their Ritz card to 1500 to avoid the 450 AF and get it refunded and get two 600 airline credits then cancel the card before the AF comes up again is probably the cause of this rule or partial reason for it. This makes me angry, but Chase should change their rules to what Amex just did w/regards to AF's thus they can't be cheated near as much is alot better policy. I really hope this chase 5x24 rule bytes them in the butt eventually. I can guarantee they are making money off me still even though I am over 5x24. I don't carry balances either, but had 3 of their AF cards and intend to carry them all more than a year as I have on one of them already. They are grouping everyone into a segment which is unfortunate

I barely missed the "leaked" link as well by 20-30 mins as work called and was working or would have this card in myhand as well. Unfortunate for us that we missed it, but glad that others at least got by although it still makes me angry that there was two sets of standards. Not angry at those that got approved on leaked link, just Chase I guess.

Edit: also agree with complete greed of their profit, yet they want to squeeze more.

Anonymous · ‎08-22-2016

@sandman2435 wrote:
...did the app and it came back 7 to 10 days,... ...,I know I'm going to get a decline letter next week,But at least I gave it a try,...

Have you called the robo lady? I got the 7-10 from the banker when I applied in branch this morning (I think that's just their generic answer), but when I call I get '2 weeks'. That's usually a better sign that 7-10. I'm still at 2 weeks, so it's not a sure thing either.

kdm31091 · ‎08-22-2016

Chase is a very customer unfriendly bank as a whole, from my view. They very seldom reward users with an auto CLI. They insist on a HP for every increase and often the result is dinky. They refuse to lower APR under any circumstances. In short, they act like they're doing you a favor by extending you a card and you should just shut up and be happy with it.

As much as 5/24 pisses people off, I look at it as, if they don't want your business, find a bank that does. Chase has some great cards but they don't have to be the be all end all.

5/24 is an overreaction to churning and reward abuse, which could have been corrected with many other, less ridiculous policies. I don't get why, if bonus churning is such a concern, they don't just give you the card but NOT the bonus if you are over 5/24. Sure, would still suck, but people could get the cards they wanted. Now they're totally locked out.

Having said that, people are unwittingly bowing to Chase by driving many many miles to branches, moving thousands in assets etc to circumvent 5/24. I wish people would stop. If people actually vote with their feet and tell Chase these policies are ridiculous, maybe it'll change at some point. I totally get wanting to maximize profits and lock out abuse but 5/24 is overkill IMO. While the average consumer is not impacted by it at all, it still sucks. Guess we just have to choose our apps very very carefully, but at the same time, why give everything else up for Chase?