topic Re: What are your thoughts? in Credit Cards

What are your thoughts?

Anonymous — Fri, 07 Jul 2017 23:51:36 GMT

So my fiancée was just at 4/24 then app'd and was approved for Chase Ink Preffered.

And in about a month she plans on applying for the Discover It card. She wants to apply A) For the $200 no spend requirement sign up bonus. ($50 each for referral from me to her = $100 then I'm under a year so I get the CashBack match and so does she = $200 total).

Additionally I'll likely max out my 5% category for July through the end of September. And she can use that category really well too.

So I want to know:

A) What do you think of this?
B) I've heard of Chase closing accounts if you're approved then app for another credit card soon after applying with them so I don't want this to happen. You think they will?

Re: What are your thoughts?

Anonymous — Sat, 08 Jul 2017 03:09:29 GMT

Bump

Re: What are your thoughts?

NRB525 — Sat, 08 Jul 2017 05:35:57 GMT

For opening one other account you wonder if Chase will close the Ink?

No one can tell you for sure, except Chase either doing something or doing nothing.

Re: What are your thoughts?

Anonymous — Sat, 08 Jul 2017 05:51:36 GMT

I mean people could say, "No that's nonsense, Chase would only do that if you opened 2 or more close together after approval from them".

Or

"Chase has been account closing crazy recently they might actually do it, though I don't see why it's only one more account, not like it's 5 or 10".

Those were the expected replies.

Re: What are your thoughts?

Anonymous — Sat, 08 Jul 2017 15:50:44 GMT

I’m hardly a Chase expert but I think things will be ok.

I think the issue would be is if one was applying for several cards after being approved by Chase. Most app sprees that include Chase has Chase first then people will move on down the line for what they want.

Re: What are your thoughts?

Anonymous — Sat, 08 Jul 2017 16:54:50 GMT

@Anonymous wrote:
I mean people could say, "No that's nonsense, Chase would only do that if you opened 2 or more close together after approval from them".

Or

"Chase has been account closing crazy recently they might actually do it, though I don't see why it's only one more account, not like it's 5 or 10".

Those were the expected replies.

Have you really read stuff lately that Chase is going to take AA for one card?

I'm not the fourm police but.... we can always raise questions about very unlikely things:

"I have a Capital One card, CL $8K, that I haven't used for 6 months. I just made a $10 charge at Safeway, should I be concerned?"

Re: What are your thoughts?

tcbofade — Sun, 09 Jul 2017 01:08:24 GMT

@Anonymous wrote:
@Anonymous wrote:
I mean people could say, "No that's nonsense, Chase would only do that if you opened 2 or more close together after approval from them".

Or

"Chase has been account closing crazy recently they might actually do it, though I don't see why it's only one more account, not like it's 5 or 10".

Those were the expected replies.
Have you really read stuff lately that Chase is going to take AA for one card?

I'm not the fourm police but.... we can always raise questions about very unlikely things:

"I have a Capital One card, CL $8K, that I haven't used for 6 months. I just made a $10 charge at Safeway, should I be concerned?"

In other words, no. Chase is not likely to close your account for opening another credit card elsewhere.

...if you open 15 of them, you might see some AA from Chase...

Re: What are your thoughts?

Anonymous — Sun, 09 Jul 2017 01:10:39 GMT

Okay thanks!

And what do you think of the reasoning for getting Discover?

Re: What are your thoughts?

Anonymous — Sun, 09 Jul 2017 09:26:36 GMT

@Anonymous wrote:
So my fiancée was just at 4/24 then app'd and was approved for Chase Ink Preffered.

And in about a month she plans on applying for the Discover It card. She wants to apply A) For the $200 no spend requirement sign up bonus. ($50 each for referral from me to her = $100 then I'm under a year so I get the CashBack match and so does she = $200 total).

Additionally I'll likely max out my 5% category for July through the end of September. And she can use that category really well too.

So I want to know:

A) What do you think of this?
B) I've heard of Chase closing accounts if you're approved then app for another credit card soon after applying with them so I don't want this to happen. You think they will?

I dont have experience to weigh in on your specific issue, but do remember them raising my apr from 7.99% to 29.99% not for missing a payment with them, or evemn with anyone else, but from having too high of a balance with other cards. So while that may not be totally related to your question, it is in a sense that they can change their relationship with you based on things on your report other than derogatories. I happen to think your question is quite valid, and no more nonsensical than Chase is for having a set in stone 5/24 rule in the first place. Very little with these companies would shock me, even though I do understand where those who mocked you are coming from. This game as a whole causes a lot of unnecessary worry. Gun to head, I'd say you'll be fine, but I'm far from certain with Chase.

Re: What are your thoughts?

fltireguy — Sun, 09 Jul 2017 12:24:06 GMT

CaptainJ - universal default apr went away years ago, it is prohibited by the CARD act