topic Re: 5/24 Chase App Spree in Credit Cards

5/24 Chase App Spree

Creditrecipe — Wed, 22 Jun 2016 18:15:25 GMT

If I was going to do an app spree and wanted to apply for Chase should I apply for them first so they do not see the new inquiries and possibly deny based on the fact that I may have more than 5 new cards this month? Has anyone done a recent app spree and included chase?

Re: 5/24 Chase App Spree

Discover2016 — Wed, 22 Jun 2016 18:25:04 GMT

Chase has been known to monitor your CR's with sp's DAILY for about a week or so if I remember correctly after you apply, somebody on here had their new Chase cards closed before they even got them because of many inquiries after the Chase inquiries. However, Chase doesn't use inquiries in the 5/24 calculations. Just don't too bananas in your spree.

Re: 5/24 Chase App Spree

Creditrecipe — Wed, 22 Jun 2016 18:50:23 GMT

But if I was to get approved for 5 other cards do you think they would go back and deny the card?

Re: 5/24 Chase App Spree

driftless — Wed, 22 Jun 2016 18:53:38 GMT

@Creditrecipe wrote:
But if I was to get approved for 5 other cards do you think they would go back and deny the card?

Yes. I would apply to Chase or do an app spree but not both. Pick one.

Re: 5/24 Chase App Spree

MyLoFICO — Wed, 22 Jun 2016 18:59:12 GMT

App Chase first. There are threads here where people are finding the new 2/24 rule is in place. App them, get their cards in hand, then do the rest of your spree. Best of both worlds.

Re: 5/24 Chase App Spree

Anonymous — Wed, 22 Jun 2016 19:05:26 GMT

I'd pickup two Chase cards. Grab them while you can.

On that note, how long should he wait before applying for anymore cards? to not be in fear of Chase closing his accounts.

Re: 5/24 Chase App Spree

MyLoFICO — Wed, 22 Jun 2016 19:08:13 GMT

Good question. It will take someone with more experience than me to take a stab at that question. I only have 1 Chase card and i got it after I was 22/24. No, that isn't a typo.

Re: 5/24 Chase App Spree

MyLoFICO — Wed, 22 Jun 2016 19:10:09 GMT

One thing I think we can all agree on is to not app anything without a solid plan of attack. There are no do-overs.

Re: 5/24 Chase App Spree

Creditrecipe — Wed, 22 Jun 2016 20:35:30 GMT

Thanks

Re: 5/24 Chase App Spree

RonM21 — Thu, 23 Jun 2016 00:22:21 GMT

Chase can be very sensitive at times. The prior posts are all correct, pretty much adding up to the thought of being careful how you tread with them.

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 05:07:34 GMT

@driftless wrote:
@Creditrecipe wrote:
But if I was to get approved for 5 other cards do you think they would go back and deny the card?
Yes. I would apply to Chase or do an app spree but not both. Pick one.

Just to make sure I'm understanding you correctly: if you get approved for 5 cards, apply and get approved for a Chase card such that the 5 earlier cards are not on you CR at time of approval but will be within 10 or so days of being approved for the Chase card, Chase will cancel your new line of credit with them?

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 05:55:02 GMT

I would get them in hand. Use them for a bit, then go on an app spree. A bit safer imo.

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 09:38:40 GMT

@Anonymous wrote:
I would get them in hand. Use them for a bit, then go on an app spree. A bit safer imo.

To get your hands on them quicker I would suggest calling in after you're approved and asking for the card to be expedited. There's no extra fees and you can get the card as soon as the next business day. Good luck with your spree OP!

Re: 5/24 Chase App Spree

MyLoFICO — Thu, 23 Jun 2016 11:19:39 GMT

In my humble opinion app sprees are overrated. Get the Chase cards in, use them, and then re-evaluate your next card requirements.

Re: 5/24 Chase App Spree

driftless — Thu, 23 Jun 2016 12:10:00 GMT

@Anonymous wrote:
@driftless wrote:
@Creditrecipe wrote:
But if I was to get approved for 5 other cards do you think they would go back and deny the card?
Yes. I would apply to Chase or do an app spree but not both. Pick one.
Just to make sure I'm understanding you correctly: if you get approved for 5 cards, apply and get approved for a Chase card such that the 5 earlier cards are not on you CR at time of approval but will be within 10 or so days of being approved for the Chase card, Chase will cancel your new line of credit with them?

Yes, there are threads to indicate Chase will close your account(s) post-approval.

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 17:03:17 GMT

@MyLoFICO wrote:
App Chase first. There are threads here where people are finding the new 2/24 rule is in place. App them, get their cards in hand, then do the rest of your spree. Best of both worlds.

Just to be aware so we don't lead people in the wrong direction: there is no 2/24 rule.

Would not want anyone to be confused.

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 18:46:14 GMT

2/24 would definitely seem a bit excessive without testing the waters with their 5/24 first.

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 19:10:23 GMT

@driftless wrote:
@Anonymous wrote:
@driftless wrote:
@Creditrecipe wrote:
But if I was to get approved for 5 other cards do you think they would go back and deny the card?
Yes. I would apply to Chase or do an app spree but not both. Pick one.
Just to make sure I'm understanding you correctly: if you get approved for 5 cards, apply and get approved for a Chase card such that the 5 earlier cards are not on you CR at time of approval but will be within 10 or so days of being approved for the Chase card, Chase will cancel your new line of credit with them?
Yes, there are threads to indicate Chase will close your account(s) post-approval.

While I don't think this occurs as (nearly) automatically with apping above 5/24, it certainly makes sense. If Chase believes that 5/24 has good justification (and presumably they do, as otherwise they are losing business for no good reason!) it would occur to them that people planning sprees might app with Chase first. So checking for that shortly after approval is the way to go.

Re: 5/24 Chase App Spree

Anonymous — Thu, 23 Jun 2016 19:12:59 GMT

@Anonymous wrote:
@MyLoFICO wrote:
App Chase first. There are threads here where people are finding the new 2/24 rule is in place. App them, get their cards in hand, then do the rest of your spree. Best of both worlds.
Just to be aware so we don't lead people in the wrong direction: there is no 2/24 rule.

Would not want anyone to be confused.

Exactly. We need to stop telling people that such a rule exists. It doesn't no matter what once person might have been told.