topic Re: Woah Chase! in Credit Cards

Woah Chase!

willwar14 — Fri, 24 Jun 2016 19:35:20 GMT

I know my dad had this coming so please refrain from rude comments.

About 3 weeks ago my dad put in apps for AARP + Ritz, was 2 weeks message for about 2 weeks then went to 7-10 day message, he recieved 2 letters in the mail saying to call lending to verify his fraud alert. He did and they said they sent them for final review. Was holding 2 weeks message until today, he decided to call in and ask for a status update on AARP.

Well he recieved one alright, he called lending and the frontline CA denied him on the spot citing "Too many new accounts opened in the last 24 months" (he is well over 5/24, 16/24 to be exact) needless to say he will not call in for his Ritz app, and just let it play itself out. They pulled experian at a 811, depending on what happens with his ritz app in the next few weeks he might try and recon AARP but, its moot now since the credit lines they dish out on that card are low-ish. His Ritz app is holding at 2 weeks message, and AARP went to 7-10 day message after the call.

Re: Woah Chase!

NRB525 — Fri, 24 Jun 2016 19:38:48 GMT

Thanks for the info. Best of luck to DD, let us know how it goes.

Re: Woah Chase!

yfan — Fri, 24 Jun 2016 19:46:31 GMT

Can I ask why he applied, wrt the 5/24 rule? Was he unaware of the 5/24 rule or did he just want to test it?

Re: Woah Chase!

CreditCuriosity — Fri, 24 Jun 2016 20:09:07 GMT

Reconing wold be a bad idea very bad idea imo for your dad if he is declined for other card.. The amount of credit he has picked up recently as you are aware is very scary for any lender to see.. If you get an UW in a bad mood he can say bye to his other Chase cards as well.. Just food for thought.

Re: Woah Chase!

willwar14 — Fri, 24 Jun 2016 19:56:57 GMT

@yfan wrote:
Can I ask why he applied, wrt the 5/24 rule? Was he unaware of the 5/24 rule or did he just want to test it?

The 5/24 rule appearently doesn't apply to Ritz and AARP, I think lending will deny someone for 5/24 if you speak with them, rather if you just let the app play itself out you can bypass it.

Re: Woah Chase!

creditguy — Fri, 24 Jun 2016 19:57:41 GMT

@yfan wrote:
Can I ask why he applied, wrt the 5/24 rule? Was he unaware of the 5/24 rule or did he just want to test it?

The 5/24 did not always apply to co branded chase cards. Now that it is affecting co branded cards, there is some mystery as to which co branded cards are indeed affected by 5/24. Since Chase doesn't just come out and say which cards, we have to rely on data points from threads like this. So in fairness, I'm sure he applied not knowing the cards were affected by 5/24 and the jury is still out on Ritz in this case.

Re: Woah Chase!

willwar14 — Fri, 24 Jun 2016 20:00:59 GMT

@CreditCuriousity wrote:
Reconing wold be a bad idea very bad idea imo for your dad if he is declined for other card.. The amount of credit he has picked up recently as you are aware is very scary for any lender to see.. If you get an UW in a bad mood he can sasy by to his other Chase cards as well.. Just food for thought.

You are 100% right, im thinking the AARP denial might be a blessing in disguise and a warning to slow the **bleep** down, before AA is taken. This is actually his first denial, he just picked up another 3 Amex cards and a 5/3rd card.

Re: Woah Chase!

Anonymous — Fri, 24 Jun 2016 20:05:55 GMT

Definately don't call for the other card and just let it play out. Keep us posted on final results should he get an update. Will keep fingers crossed for him and hope Chase comes through for him.

Re: Woah Chase!

MTSN — Fri, 24 Jun 2016 20:42:07 GMT

I have to ask - what in the heck is he doing getting 19 new cards in 24 months and counting?! Seems extremely reckless and risky to me.

Re: Woah Chase!

Anonymous — Fri, 24 Jun 2016 20:47:58 GMT

@willwar14 wrote:
I know my dad had this coming so please refrain from rude comments.

About 3 weeks ago my dad put in apps for AARP + Ritz, was 2 weeks message for about 2 weeks then went to 7-10 day message, he recieved 2 letters in the mail saying to call lending to verify his fraud alert. He did and they said they sent them for final review. Was holding 2 weeks message until today, he decided to call in and ask for a status update on AARP.

Well he recieved one alright, he called lending and the frontline CA denied him on the spot citing "Too many new accounts opened in the last 24 months" (he is well over 5/24, 16/24 to be exact) needless to say he will not call in for his Ritz app, and just let it play itself out. They pulled experian at a 811, depending on what happens with his ritz app in the next few weeks he might try and recon AARP but, its moot now since the credit lines they dish out on that card are low-ish. His Ritz app is holding at 2 weeks message, and AARP went to 7-10 day message after the call.

Yikes....

At least there is an adult in the house

YOU☺

Re: Woah Chase!

Anonymous — Fri, 24 Jun 2016 21:07:16 GMT

@MTSN wrote:
I have to ask - what in the heck is he doing getting 19 new cards in 24 months and counting?! Seems extremely reckless and risky to me.

That's not that much for the audience here! Less than 1 per month

Re: Woah Chase!

Anonymous — Fri, 24 Jun 2016 21:11:29 GMT

@MTSN, have you met Ron1? lol

Re: Woah Chase!

Gmood1 — Fri, 24 Jun 2016 21:14:44 GMT

Shoot.. I had more than that in 6 months. lmao

Re: Woah Chase!

willwar14 — Fri, 24 Jun 2016 21:17:01 GMT

Oh I am no better, my dads just been chasing sign up bonuses.

Re: Woah Chase!

Anonymous — Fri, 24 Jun 2016 21:48:33 GMT

@willwar14 wrote:
Oh I am no better, my dads just been chasing sign up bonuses.

You guys are such bad examples!

Shame on you...

Re: Woah Chase!

pizza1 — Sat, 25 Jun 2016 00:40:21 GMT

@Anonymous wrote:
@MTSN wrote:
I have to ask - what in the heck is he doing getting 19 new cards in 24 months and counting?! Seems extremely reckless and risky to me.
That's not that much for the audience here! Less than 1 per month

ppffft!! right! Amateurs!

Re: Woah Chase!

MyLoFICO — Sat, 25 Jun 2016 01:00:47 GMT

I'm at 23/24 so I will just go overe here in the corner *slowly walks to nearest corner* and have a seat.

I agree though not to call them. I did on mine and got instant declined because of the 5/24. Let it go and see how it plays out.

Re: Woah Chase!

RonM21 — Sun, 26 Jun 2016 01:40:10 GMT

23/24...that is some serious movement!

Re: Woah Chase!

woodyman100 — Sun, 26 Jun 2016 01:55:41 GMT

@Anonymous wrote:
@MTSN, have you met Ron1? lol

Ron1 has fallen off of the grid. Haven't seen him around since February or so

Re: Woah Chase!

gibeon — Sun, 26 Jun 2016 02:10:34 GMT

I think the real lesson here is to never ever talk to Lending if it can possibly be avoided.

FYI, approved for AARP 1 month ago and was at 39/15... (Currently have an IHG pending on 2 weeks, and am at 43/16. First Chase card was approved at 31/11... I'm slowing down at least...)