@Anonymous wrote:Overall was 3%. That consisted of one card at $858/$4000 with the rest reporting zero.
Hmm, that's low. But maybe they have a trigger of 2% or under. Doesn't seem so likely though since they approved you and you're using very little of your available credit. Well, we always try to analyze their decision making, but I doubt even the recon reps ever share the full account approval algorithms, if they even actually know.
They are bound to loosen up.. Especially for co-branded cards as one would think they would get backlash form whether it is Hyatt/Marriott/IHG/AARP/etc.. Something is going on, what it will take more time to figure out or a UW will have to be nice enough to shed some light. These companies can simply go to Barclay's or another CC issuers if this keeps up and appears to be the new normal.. Weird this is they advertise on this forum
.. If they don't want people like us to apply for their cards, then why advertise the IHG, etc here ?
@wacdenney wrote:I'm glad I got all the Chase I wanted when I did!!
While I still had one other card I really wanted I am glad I have the four chase cards that I do and I am really glad that I only downgraded the CSP to CS instead of outright cancelling it. At least this way if I needed to upgrade back to the CSP I could easily do so without reapping and risking a denial.
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@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Bman70 wrote:
IDK, Chase has always picked a reason to highlight, when in fact the entire profile goes into the decision. 2 years seems like a long time frame for them to go back. It seems like one of those rules that is enforced if you have a certain profile, but let slide if you're above a certain score. They don't necessarily share that though.
But we're bound to have someone on the forum who got a Freedom in the last few days, and has more than 5 accounts. Come on, Freedom has always been the app spree favorite. :-DI have 4 new accounts in the past year, and have been eyeing that Freedom $200. Discover hasn't reported yet (approved on Monday), so that makes 3 new accounts.
Maybe I should apply before it reports.
See my post earlier in the thread,
Are you sure all 7 of your accounts were reporting at the time of application?
Yes, all were reporting. One from April, 2014, one from August 2014, three from January 2015, and two from April, 2015.
Does your signature show all your open credit cards? If so, then I wonder if they are only using this too many accounts in last 2 years if you also happen to have more than X number of accounts. I'm guessing everyone reporting denials on other forums has a pretty large number of credit cards and most of the people here have a large number as well.
ZeroViBritannia, do you have 9 accounts exactly or are there some store cards you might not be including in your signature?
9 accounts, 6 reporting (5 in the past 2 years)
@CreditCuriousity wrote:They are bound to loosen up.. Especially for co-branded cards as one would think they would get backlash form whether it is Hyatt/Marriott/IHG/AARP/etc.. Something is going on, what it will take more time to figure out or a UW will have to be nice enough to shed some light. These companies can simply go to Barclay's or another CC issuers if this keeps up and appears to be the new normal.. Weird this is they advertise on this forum
Well of course they want people to app. The difference is that they do not want people to app in an overkill way. Exceeding what they feel is a "normal" number of new accounts in x amount of time is risk, period. They're still a business and exist to make money. Therefore, risk has to always be factored in. Someone obtaining let's say 5 cards with them in under a year is probably raising a red flag, for example.
The point is yes they want apps but they do not want excessive apps. I think that is the point behind the tightening up. They will only get backlash from Hyatt etc if the tightening up was super excessive. But let's be honest -- although not all, some people who are "into credit" like us simply obtain these cards for bonuses and then close them. Hardly the kind of customer they care about retaining. It's also part of the reason, in my view, that they have to tighten up: churning. Restricting a number of new accounts or making it harder to get approval will cut down on it.
