Chase Sapphire Preferred-Denied

[kdm31091]

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@lhcole77 wrote:
My spend on my multiple cards far exceeds what an "average" consumer spends on 2-3 cards. Let us not forget: average consumer, average spend. I'm much more profitable than someone who is average. I imagine many on myFICO with multiple cards are.

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I think the point is that the more cards you have, the less spend is going to be on each one. Since you don't increase your total spend by adding more cards, it's inevitably diluted more. If you have ~20 cards you probably aren't spending a 500 or 1k a month on each one all the time.

I would hope nobody is spending more just because they have multiple cards. Number of cards should not influence your spend one way or another. Fewer cards mean less chance for you to use the competitor's card, which is Chase's point here.

If you're just saying your income is higher and so you spend more, that's fine, but still don't need a certain number of cards for that per se.

[Random_idiot]

Sorry for that gdale! How did you apply? online or in branch? I've read success stories of in branch applications..

[tacpoly]

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@lhcole77 wrote:
My spend on my multiple cards far exceeds what an "average" consumer spends on 2-3 cards. Let us not forget: average consumer, average spend. I'm much more profitable than someone who is average. I imagine many on myFICO with multiple cards are.

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Chase wants people who spend like you charging everything on just their card.  You're not really profitable for Chase when you spread your spend across many cards.  But if they had to compromise, Chase is choosing exclusivity (people who have few cards) vs promiscuity (people who have many cards). 

[Schwartzinator]

This is such an incredibly stupid rule. If the goal is to stop churners, then they should have an option to forgo the signup offer. I would happily still apply for the CSP or CSR as my Amex cards aren't always accepted.

[Anonymous]

As other posters have said, you have a great herd of cards. Sorry you got denied with two HP's. This has been a very informative thread. That said, I wonder how many banks have quiet internal requirements similar to Chase but we just haven't picked up on it such as Barclays? We go after Chase but I just wonder if there aren't silent others! Also, I did not know about internal risk limits before this board and now I understand why Citi, Chase and US Bank put a lid on my acquiring more cards with them.

[Anonymous]

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@gdale6 wrote:

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@Anonymous wrote:

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@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.

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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?

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Online, nearest branch is 120 miles away. Im usually auto approved for all my cards never even thought they would hit me with 5/24 as I see some are auto approved way over it apping online.

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You might be able to have them run the pre-qualf by calling that branch over the phone.