topic To much chase love? in Credit Cards

To much chase love?

Josh2942 — Sun, 21 Jun 2015 05:08:54 GMT

I just got approved for my 7th chase card. The IHG with $7k My first approval for a co branded card above the minimum $5k. My first Chase card was in March of last year. A freedom with $500 limit. Before that I moved all my assets to Chase. Checking and saving. Had a lease on a 2014 Mazda. Paid in full one year lease than moved to a 2015 Mazda lease. That lease is around $13k for two years. But back to the cards. I have a Sapphire Preffered with $10,000 the freedom now has $10,000 I have a Hyatt with $6,000 a Marriot with $5,000. Amazon Visa with $4,000. Slate for $1,500. And now the IHG with $7,000. Got every sign up bonus to. Total credit lines around 170k income $200,000. Never missed a payment and have utilization of 1.5%. Do you think they would have a problem with me closing the Marriot and IHG over to the freedom for a total of $23,000

Re: To much chase love?

Anonymous — Sun, 21 Jun 2015 05:22:19 GMT

Congrats! Chase must really love you. As to your question, I've heard they are pretty easy to move limits with, but if you just got approved for the IHG you might want to wait a little while before moving that line over and closing it.

Re: To much chase love?

Techno — Sun, 21 Jun 2015 06:25:37 GMT

Congratulations, i am the same way with chase they approve me for almost anything, i have all my assets with them aswell. unrelated, how is your mazda 13k for two years? did you get the Grand touring fully loaded?

i got the i touring + tech pack(around 21k selling price) for 9.5k for 3 years.(15, Leased in jan)

also how did you jump from 14 to 15, did you "trade it in" or is there a special thing where if it's mazda to mazda you can trade in without a huge penalty, because depreciation is huge first year.

Re: To much chase love?

Josh2942 — Sun, 21 Jun 2015 10:10:25 GMT

Oh yeah there was huge depriaciation. I cheaper out to start. I got the basic sport. Put 13,000 miles and needed to be in something better. So I put 3500 down plus the trade in to get the sgrand touring. A got a good deal though. I worked in unlimited car washes and life oil changes

Re: To much chase love?

Revelate — Sun, 21 Jun 2015 10:52:06 GMT

Maybe a dumb question but out of that set of cards, why pick the Freedom as the aggregate CL target? I can't see rationally it's being a default or big purchase use card nor a balance carrying one... and given the free night which rather obviates the AF on at least the Marriot and I think IHG has something similar, why whack both short of something which supersets one or both like the Ritz or your spend not lining up with Chase's partners?

Also from my desire to be proverbial needle in a haystack from a lender's perspective, not certain on this one given Chase's recent change to origination policies anyway which certainly at second glance appear to be designed to combat exactly the behavior you're describing. Something to consider anyway that they might look more than sideways at the request, no idea on liklihood but it's a non-zero probability.

Re: To much chase love?

Anonymous — Sun, 21 Jun 2015 12:56:32 GMT

If you close the IHG so soon after after approval and achieving bonus you definitely run the risk of raising alarms with Chase. Something to consider.

Re: To much chase love?

kdm31091 — Sun, 21 Jun 2015 16:02:07 GMT

@Anonymous wrote:
If you close the IHG so soon after after approval and achieving bonus you definitely run the risk of raising alarms with Chase. Something to consider.

That and the plain fact of having 7 accounts with them! I'd definitely be nervous.

Re: To much chase love?

EmmyWannabeOrman — Sun, 21 Jun 2015 19:30:05 GMT

Can you send some Chase love over here? Lol. I guess if you don't carry high balances and you pay your bills on time everything is good.

@Josh2942 wrote:
I just got approved for my 7th chase card. The IHG with $7k My first approval for a co branded card above the minimum $5k. My first Chase card was in March of last year. A freedom with $500 limit. Before that I moved all my assets to Chase. Checking and saving. Had a lease on a 2014 Mazda. Paid in full one year lease than moved to a 2015 Mazda lease. That lease is around $13k for two years. But back to the cards. I have a Sapphire Preffered with $10,000 the freedom now has $10,000 I have a Hyatt with $6,000 a Marriot with $5,000. Amazon Visa with $4,000. Slate for $1,500. And now the IHG with $7,000. Got every sign up bonus to. Total credit lines around 170k income $200,000. Never missed a payment and have utilization of 1.5%. Do you think they would have a problem with me closing the Marriot and IHG over to the freedom for a total of $23,000

Re: To much chase love?

Anonymous — Sun, 21 Jun 2015 20:41:21 GMT

I really think now is the time for people who want to get in with Chase to get an IHG card...

Re: To much chase love?

Anonymous — Sun, 21 Jun 2015 21:32:42 GMT

@Josh2942 wrote:
Never missed a payment and have utilization of 1.5%. Do you think they would have a problem with me closing the Marriot and IHG over to the freedom for a total of $23,000

Cool stuff...congrats on the new card. I usually wait awhile before combining limits...no need to call attention to a new account too early. I do remember reading "somewhere" that they want to see how you deal with a new card before allowing you to move limits. Maybe I dreamed it up though but I vaguely remember "something" like that. Are you afraid of them shutting you down due to 7 cards?

I can confirm an 8th card with Chase and Finstar recently reported his 7th Chase so you don't have to worry getting co-branded cards. It really does seem confined to "real" Chase cards.

I too had read the horror stories but I can speak from experience with a 7th and 8th Chase card (most are co-branded) just days ago.

I have noticed one thing is that my new limits are significantly lower post June My pre-June max limits were 17K for a Ritz and 17K for a IHG. My 2 new cards... $5K Amazon and 3.5K Disney card. Maybe I am hitting internal Chase limits or maybe it's new underwriting rules... I dunno. I just know it's alot lower limits for me on these last 2 cards.

I have Freedom, CSP, SWA, Slate, IHG, Ritz, Amazon, Disney within the last 2 years. The Amazon and Disney were just like 2 days ago...special thanks to Finstar for reporting that a 7th Chase was possible or I wouldn't have dared apply.

And surprise, suprise, it was a single EQ pull for BOTH cards. Not 2 pulls, not Experian.

Re: To much chase love?

red259 — Sun, 21 Jun 2015 21:41:11 GMT

@Josh2942 wrote:
I just got approved for my 7th chase card. The IHG with $7k My first approval for a co branded card above the minimum $5k. My first Chase card was in March of last year. A freedom with $500 limit. Before that I moved all my assets to Chase. Checking and saving. Had a lease on a 2014 Mazda. Paid in full one year lease than moved to a 2015 Mazda lease. That lease is around $13k for two years. But back to the cards. I have a Sapphire Preffered with $10,000 the freedom now has $10,000 I have a Hyatt with $6,000 a Marriot with $5,000. Amazon Visa with $4,000. Slate for $1,500. And now the IHG with $7,000. Got every sign up bonus to. Total credit lines around 170k income $200,000. Never missed a payment and have utilization of 1.5%. Do you think they would have a problem with me closing the Marriot and IHG over to the freedom for a total of $23,000

I wouldn't be closing a card that was literally just opened. That can be viewed as a backdoor way of trying to get a CLI. Given your exposure with Chase I'd just chill and maintain your accounts normally at least for a year. You don't need to pay the AF on cards that have no value to you, but changing things around with new accounts does not seem like a good course of action. It may get someone at Chase to look closer at your accounts and that is probably not something you want happening until they age some.

Re: To much chase love?

Josh2942 — Sun, 21 Jun 2015 23:23:34 GMT

I stay exclusively at Hyatt hotels that's why I pay the annual fee for that one. I also wouldn't close it before the 11th month mark. I should have clarified that. I got the 70,000 Marriott bonus and was not impressed with their category 6 hotel in New York City. The name escapes me. Even at the lowest category Hyatt hotel I think it's light years ahead of any IHG or Marriot with 1-4 range. I would actually probably put half on my Hyatt. I not afraid of them closing my accounts because I don't do high risk behavior. I don't manufacture spend and do keep a large amount in savings and checking. I have only been declined for the Ink card. That's actually next on my list.

Re: To much chase love?

Josh2942 — Sun, 21 Jun 2015 23:26:02 GMT

I wasn't going to do it right away but I've never been declined a credit limit increase from chase and they let me request it on two accounts at once with one hard pull. Never used the back door either. Only to check status. I guess I'll just get the bonus and cancel it in January

Re: To much chase love?

kdm31091 — Mon, 22 Jun 2015 00:02:43 GMT

@Anonymous wrote:
@Josh2942 wrote:
Never missed a payment and have utilization of 1.5%. Do you think they would have a problem with me closing the Marriot and IHG over to the freedom for a total of $23,000
Cool stuff...congrats on the new card. I usually wait awhile before combining limits...no need to call attention to a new account too early. I do remember reading "somewhere" that they want to see how you deal with a new card before allowing you to move limits. Maybe I dreamed it up though but I vaguely remember "something" like that. Are you afraid of them shutting you down due to 7 cards?

I can confirm an 8th card with Chase and Finstar recently reported his 7th Chase so you don't have to worry getting co-branded cards. It really does seem confined to "real" Chase cards.

I too had read the horror stories but I can speak from experience with a 7th and 8th Chase card (most are co-branded) just days ago.

I have noticed one thing is that my new limits are significantly lower post June My pre-June max limits were 17K for a Ritz and 17K for a IHG. My 2 new cards... $5K Amazon and 3.5K Disney card. Maybe I am hitting internal Chase limits or maybe it's new underwriting rules... I dunno. I just know it's alot lower limits for me on these last 2 cards.

I have Freedom, CSP, SWA, Slate, IHG, Ritz, Amazon, Disney within the last 2 years. The Amazon and Disney were just like 2 days ago...special thanks to Finstar for reporting that a 7th Chase was possible or I wouldn't have dared apply.

And surprise, suprise, it was a single EQ pull for BOTH cards. Not 2 pulls, not Experian.

To each their own, but I'd never want to have 7 or 8 cards with a single lender. Too many eggs in the basket. There's only so much exposure before you get flagged. Approval doesn't mean someone isn't going to look at your accounts down the line.

I think it's par for the course that the more accounts you get with them, the limits will tend to be lower.

While nobody can say "omg you have 7 accounts OP, you'll be shut down" I would certainly hesitate to suggest it's a great idea to have so many with one lender. Yes there are people around here with that many, but income level and files are all different, so the risk level for Chase is always different. It's not as simple as "so and so has 8 cards with Chase so you can/should too!", that's all. Regardless, OP has to do take the data and do what they are comfortable with.

Re: To much chase love?

Anonymous — Mon, 22 Jun 2015 17:56:17 GMT

Can't imagine 7, not sure I'd want more than two. Especially considering their tightening lately.

Re: To much chase love?

Josh2942 — Mon, 22 Jun 2015 18:07:34 GMT

You can't be afraid of AA if you aren't doing anything wrong