topic Re: How will the anticipated Chase 5/24 change your app strategy in Credit Cards

How will the anticipated Chase 5/24 change your app strategy

red259 — Thu, 11 Feb 2016 17:29:04 GMT

With the news that the Chase 5/24 is potentially being extended to business cards and co-branded chase cards how will this impact your strategy if at all? For me at first I did not care. I had the CS and freedom card, so the only personal cards I still needed were some of the co-brands. When it was mentioned that they anticipate extending the policy to business cards I went and apped for the ink plus. Now with this stuff about the co-branded cards I'm feeling pressured to make an app earlier than I'd like, specifically for the Ritz card.

Since you can get the signup bonus once every 24 months I am considering just doing busiiness card apps going forward. With the exception of one or two minor cards I have the personal cards I want. If I go this route and decide to avoid personal card apps until I can reapply for the CSP/Hyatt then I will have to give up on reapplying for citi personal cards like my ciit AA plat and citi Hilton reserve. If that is the situation then I would go ahead and cancel those cards instead of paying the AF on them (assuming I can't get retention offers to offset). I guess the real question for me is do I consider these chase cards worth giving up on offers from other lenders. Chase has lost some luster over the past two years with devals on travel partners etc. I'm not sure they are really worth the effort compared to what I would have to give up.

Re: How will the anticipated Chase 5/24 change your app strategy

Anonymous — Thu, 11 Feb 2016 18:16:12 GMT

It won't. I only plan on 2 more cards after all is said and done, only one more Chase card (CSP).

Re: How will the anticipated Chase 5/24 change your app strategy

Anonymous — Thu, 11 Feb 2016 18:18:42 GMT

@Anonymous wrote:
It won't. I only plan on 2 more cards after all is said and done, only one more Chase card (CSP).

**bleep**. When did they establish this/???!!

Re: How will the anticipated Chase 5/24 change your app strategy

CreditCuriosity — Thu, 11 Feb 2016 18:26:10 GMT

If this is true it won't impact me at all as I have the Freedom/Csp/Ritz/Hyatt all the chase cards I truely find valueable... Be nice to get other sign-up bonuses in the future, but happy with what I have and woulnd't go out of my way to go out of the garden to grab anything if indeed this is true. As stated I am in the garden until Dec. and plan to sticking with this despite a large score increase recently.

Re: How will the anticipated Chase 5/24 change your app strategy

heyarrnold — Thu, 11 Feb 2016 19:00:44 GMT

Well, I don't see myself opening anymore personal cards for some time. I will be adding a new business account, but other than that, it doesn't change anything. If the Ritz 140k offer shows up within this month or the next, I'll app. Otherwise, IDC.

Re: How will the anticipated Chase 5/24 change your app strategy

EAJuggalo — Thu, 11 Feb 2016 20:28:48 GMT

It's putting me on hold for a while. My next app is going to be for the Chase Disney as soon as everything I just opened starts hitting the report. With what I have now the only two cards I still want at all after that are an Amex either a BCE or an Everyday and a Discover IT. I was going to consider a couple store cards before I app'd for those but probably not now.

Re: How will the anticipated Chase 5/24 change your app strategy

Anonymous — Thu, 11 Feb 2016 20:28:51 GMT

Well I really want the Hyatt and was going to app for it in December. Now I don't know. I just picked up the AARP in December and the Marriott in January so I'm pretty sure that Chase would shoot me down if I tried for it now and I would prefer to wait so that I could use the certificates summer of 2017.

Re: How will the anticipated Chase 5/24 change your app strategy

Anonymous — Thu, 11 Feb 2016 20:33:51 GMT

@CreditCuriousity wrote:
If this is true it won't impact me at all as I have the Freedom/Csp/Ritz/Hyatt all the chase cards I truely find valueable... Be nice to get other sign-up bonuses in the future, but happy with what I have and woulnd't go out of my way to go out of the garden to grab anything if indeed this is true. As stated I am in the garden until Dec. and plan to sticking with this despite a large score increase recently.

Congrats on your score increase. Best of luck on your gardening goal.

Re: How will the anticipated Chase 5/24 change your app strategy

redpat — Thu, 11 Feb 2016 20:38:26 GMT

None. I just want UR points to transfer, I won't be apping for anymore chase cards.

Re: How will the anticipated Chase 5/24 change your app strategy

Anonymous — Thu, 11 Feb 2016 20:48:54 GMT

I had planned to apply for the SWA credit card later on in the year, but if the new policy kicks in before then I will wait. In the meantime if something comes up I will use one of my cash back cards. Other than a travel card, I basically have all of my spend covered. Good luck to everyone!

Re: How will the anticipated Chase 5/24 change your app strategy

DoroLucky — Thu, 11 Feb 2016 21:12:13 GMT

What is teh 5/24?

Re: How will the anticipated Chase 5/24 change your app strategy

gdale6 — Thu, 11 Feb 2016 21:40:42 GMT

Chase isnt going to extend it to their co-brand cards unless they dont intend on having any co-brand business relationships the business entity they are partnering would never allow such a thing.

Re: How will the anticipated Chase 5/24 change your app strategy

lg8302ch — Thu, 11 Feb 2016 21:48:41 GMT

@gdale6 wrote:
Chase isnt going to extend it to their co-brand cards unless they dont intend on having any co-brand business relationships the business entity they are partnering would never allow such a thing.

I hope you are right ... For my app strategy it will not change much as I set myself a limit of 1 card every 6 months so that is 4 cards in 2 years. Like this it allows me to get 1 more ..lol

edit: I just did not follow my plan lately

Re: How will the anticipated Chase 5/24 change your app strategy

Anonymous — Thu, 11 Feb 2016 21:50:09 GMT

@gdale6 wrote:
Chase isnt going to extend it to their co-brand cards unless they dont intend on having any co-brand business relationships the business entity they are partnering would never allow such a thing.

I tend to agree. I could see them making bonuses once in a lifetime like Amex but I can't see United or the other partners agreeing to this kind of limitation.

Re: How will the anticipated Chase 5/24 change your app strategy

gdale6 — Thu, 11 Feb 2016 21:51:14 GMT

@DoroLucky wrote:
What is teh 5/24?

http://ficoforums.myfico.com/t5/Credit-Cards/UPDATE-POLICY-CHANGE-CHASE-Lets-put-our-heads-together-on-recent/m-p/4034901/highlight/true#M1134193

Re: How will the anticipated Chase 5/24 change your app strategy

Discover2016 — Thu, 11 Feb 2016 21:59:07 GMT

This new extension of their 5/24 policy (if it happens) won't affect me at all, I plan to garden for the next 24mo.

Re: How will the anticipated Chase 5/24 change your app strategy

Discover2016 — Thu, 11 Feb 2016 22:03:03 GMT

Well, I was just looking at the Chase website, the only other card I wanted was the United Club, so if I have to wait 24mo thats ok, since I will have 24mo of payment history on my current Chase cards so I should get a nice SL.

Re: How will the anticipated Chase 5/24 change your app strategy

redpat — Thu, 11 Feb 2016 22:10:42 GMT

@gdale6 wrote:
Chase isnt going to extend it to their co-brand cards unless they dont intend on having any co-brand business relationships the business entity they are partnering would never allow such a thing.

Why not. Using a co-branded card for the sign-up bonus and then putting it in the SD does nothing for that partner. It's all about usage and having a better customer. These forums are not the norm and neither is having 7 or more chase cards.

Re: How will the anticipated Chase 5/24 change your app strategy

gdale6 — Thu, 11 Feb 2016 22:22:21 GMT

@redpat wrote:
@gdale6 wrote:
Chase isnt going to extend it to their co-brand cards unless they dont intend on having any co-brand business relationships the business entity they are partnering would never allow such a thing.
Why not. Using a co-branded card for the sign-up bonus and then putting it in the SD does nothing for that partner. It's all about usage and having a better customer. These forums are not the norm and neither is having 7 or more chase cards.

Im a businessman, I would never partner with a bank that would limit my opportunity to make money and yes you are correct myFico and other crdit board users are a small slice but business is business and I would want 0 restrictions in the number of cards arena. I also doubt they could uniformly apply it without first getting an okay from their partners as it would require a contract change, you just cant go around issuing edicts when contracts are involved.

Re: How will the anticipated Chase 5/24 change your app strategy

redpat — Thu, 11 Feb 2016 22:27:33 GMT

@gdale6 wrote:
@redpat wrote:
@gdale6 wrote:
Chase isnt going to extend it to their co-brand cards unless they dont intend on having any co-brand business relationships the business entity they are partnering would never allow such a thing.
Why not. Using a co-branded card for the sign-up bonus and then putting it in the SD does nothing for that partner. It's all about usage and having a better customer. These forums are not the norm and neither is having 7 or more chase cards.
Im a businessman, I would never partner with a bank that would limit my opportunity to make money and yes you are correct myFico and other crdit board users are a small slice but business is business and I would want 0 restrictions in the number of cards arena. I also doubt they could uniformly apply it without first getting an okay from their partners as it would require a contract change, you just cant go around issuing edicts when contracts are involved.

They are the bankers (chase), I'm the partner, the credit card and banking side is not my core business and I would rather take the professional advice of my partner who handles my CC business and knows it better than I would. I'm sure the partners are aware of this.