topic Chase New Account Closure - Can I get it reopened in Credit Cards

Chase New Account Closure - Can I get it reopened

Anonymous — Fri, 23 Nov 2018 15:24:12 GMT

Hello, First post ever on here but have been lurking for a long time.

About a week back I applied for the Hyatt credit card and then the same day I applied for thr IHG card. Both were approved and got about 18k and 20k in line respectively. I called today since I have not received my cards yet and was wondering if I could get the full 16 digit since I am staying at a Holiday Inn this weekend and was hoping I somehow could still use my card this weekend without the phsyical card. Long story short I was told a second review of my account was conducted and they closed my IHG card. Does anyone know if there is any special number I can call to get a third review done? I make 6 figures and my scores are in the 780s so want to plead my case I am not a credit risk to them.

Re: Chase New Account Closure - Can I get it reopened

Anonymous — Fri, 23 Nov 2018 16:15:35 GMT

Multiple numbers tried and sounds like no luck. Apparently I wasn't supposed to be able to aply for more than one card in a day. Sadly with IHG now under 5/24 and I applied for the Hyatt and IHG as my #4 and #5 and then earlier this week got a different card for #6 and I am over the 5/24 for sure. Wonder how this app approval and then account closure is going to reflect on my credit score (I hope they don't even report the account). Also not sure if it will count towards my future 5/24 since it was technically opened...

Re: Chase New Account Closure - Can I get it reopened

Medic981 — Fri, 23 Nov 2018 16:44:41 GMT

Welcome to the myFICO forums!

Chase has the 5/24 rule, that applies to certain cards, which is no more than 5 revolving credit accounts opened within a rolling 24 month period and the 2/30 rule which is no more than 2 Chase cards opened within a 30 day period. As these are open secrets, we know about them, however, Chase will not openly acknowledge them. As such, there are many intricacies that are not well known to the credit consuming public.

With this in mind, if you apply for a Chase 5/24 and run afoul of the rule one day, as I understand it, does not mean a day, a week or a month later you can't apply and be approved as long as you meet Chases internal, double super secret, never on a Friday of an odd-numbered month with a full moon credit application criteria.

Re: Chase New Account Closure - Can I get it reopened

bourgogne — Fri, 23 Nov 2018 16:49:13 GMT

hi, chase is great but they can be touchy sometimes and this is one of those times. if it were me I would dispute the account if/when it shows up and maybe the hp as well if I had success with the account removal but I think you probably own the hp. this is not like last year when doing multi apps were not an issue, esp if it were a consumer and biz card together. shame as you seem to be the real deal and the kind of customer they would like to have and your sl's and scores back this up. your future is i am sure bright with the bank, again if it would me I would put 6 statements past you on the hyatt and then reapply if you wish. this is esp true if this is your first chase card.

Re: Chase New Account Closure - Can I get it reopened

simplynoir — Fri, 23 Nov 2018 16:54:10 GMT

@Medic981 wrote:
Chase has the 5/24 rule, that applies to certain cards

Believe the 5/24 rule applies to ALL Chase cards now. Or at least according to datapoints collected from DoC.

Re: Chase New Account Closure - Can I get it reopened

staticvoidmain — Fri, 23 Nov 2018 16:57:41 GMT

Based on recent data points, there seems to be a 1/1 rule, one card per day, or they will close the second card. Or is this tied to the 5/24 and 2/30 rule? (When people try to apply same day and go over the rule limit)

Re: Chase New Account Closure - Can I get it reopened

FinStar — Fri, 23 Nov 2018 16:58:14 GMT

OP, technically since you applied for the account, and were initially approved, the dispute will likely not fly.

Within the application and CCA fine print, there's a clause that allows the lender (legally) to close the account at any point, in this case due to Adverse Action (i.e. secondary UW/audit review).

So, the account will simply reflect on your CRs as 'Closed by Credit Grantor'. Just shrug it off as a lesson learned. Countless threads on this topic in various blogs/forums.

Re: Chase New Account Closure - Can I get it reopened

Anonymous — Fri, 23 Nov 2018 17:15:19 GMT

1/1 - Yes with my data point I would say there is a one-one rule now as well.

Right to close - As for thier right to close that is correct, and though I havn't recieved the NOAA yet in the mail, the rep told me it will state something along the lines of due to the amount of total credit limit with the lending being too high.

Since I havn't figured out how to do a signature yet I will put my stats here (let me know how to set this up). These are in order of applying and removing the IGH right after the Hyatt card.

Discover It 7 years 1 month $15,200; Chase Freedom 5 years 3 months $7,200; BofA Cash 4 years 6 months $6,500; FNBO 2 years 10 months $4,200; Citi Double 1 year 9 months $11,000; Barclay Uber 1 year $15,000; AMEX Platinum new; Hyatt new $18,700; AMEX Gold new

Their loss - I agree, every credit decision to warn off risk does sometimes have adverse impacts on potential good customers. Especially since I already had a purchase lined up to meet the sign-up bonus.

5/24 - Since all the reports of 5/24 now being used for all card and with me having Citi Double, Uber, Platinum, Hyatt, and Gold now I have blown my 5/24 and don't plan to reapply today like all the agents wanted me to do such.

5/24 one open in three months - if you are keen on details you will see I will have an open spot for 5/24 in a few months I could apply for the IGH card then, but I am also planning on buying my first home in late 2019/2020 so I get a little concered about inquiries the closer I get to that event happening.

Sign-up bonus - Since the card was technically opened if I ever down the road do reapply and thoughts on if I will get a second chance at the sign-up bonus?

Re: Chase New Account Closure - Can I get it reopened

NRB525 — Fri, 23 Nov 2018 17:48:33 GMT

@simplynoir wrote:
@Medic981 wrote:
Chase has the 5/24 rule, that applies to certain cards
Believe the 5/24 rule applies to ALL Chase cards now. Or at least according to datapoints collected from DoC.

Ok, then I am glad I did not pursue either Citi AA card or Chase United card. Will use my 4/24 status to cycle my Hyatt card, in the next few weeks, which up until now looked like a "extra".

Re: Chase New Account Closure - Can I get it reopened

FinStar — Fri, 23 Nov 2018 17:59:24 GMT

Based on recent DPs (Reddit, DoC, etc.) the IHG card appears to be considered part of the 5/24 restriction. So, even if you apply again in the next 90 days, it'll likely to be denied, but YEMV. The opening/AA closure of you IHG account will count toward 5/24.

Folks often perceive it as the lender's loss when in all reality it isn't, whether you would meet the spending for the SUB or not. They can afford to be selective. On the upside, your Hyatt card was not shutdown so be glad it remained open... given the double-app you submitted.

Potentially, beyond the 24 month boundary, if you were to apply again, it's possible that you could qualify for the SUB since technically it wasn't collected or redeemed due to AA. In other words, your plane never got off the ground. You'd need to check at that point depending on what rules or restrictions may apply in the future

Re: Chase New Account Closure - Can I get it reopened

Medic981 — Fri, 23 Nov 2018 18:02:23 GMT

@Anonymous wrote:

Since I havn't figured out how to do a signature yet I will put my stats here (let me know how to set this up).

If you use this link THIS IS HOW YOU ADD CREDIT CARD PICS TO YOUR PROFILE you will see how to set up your signature line. I know you have to obtain a certain level of member before you are able to do so.

On the upper right-hand side is the menu three dots, go to "report inappropriate content" which will get you to a moderator or administrator and they can add your stats to your signature line if you have not achieved the status needed do it yourself.

Again, Welcome to the myFICO forums.

Re: Chase New Account Closure - Can I get it reopened

RonM21 — Fri, 23 Nov 2018 20:35:58 GMT

Welcome @durac! It's unfortunate that this happened to you, but still, congrats on the approval for the card you keep! it appears there really will not be a way around this based on the different reasons mentioned in the prior posts. But you seem to be in a good position with your scores/profile, and that is great. I wouldn't worry too much about this. The good thing is you found these forums and will be able to use this to your advantage in the future. Topics like this and countless others are discussed daily and will give you more knowledge moving forward with future apps, or even how to handle certain things in your profile. Next time, you'll be on top of it!!

Re: Chase New Account Closure - Can I get it reopened

Anonymous — Fri, 23 Nov 2018 20:56:14 GMT

I doubled-appd about 3 months ago for Sapphire Reserve and Freedom. Both apps went to review which was a mild surprise. My Fico in the 785/800's and 6 figure income. I was approved for the CSR @ 34k and denied for the Freedom. Fast forward to last week, I double-appd for Freedom and Marriott while 3/24. I was approved for both @ combined 40k+ SL. I'd also appd and received the AMEX Platinum in between. I received the Freedom today and quickly put some spend on it. Still waiting for the Marriott with the credit portal showing the status as active. I have shuffled out a large chunk of the credit line from the Marriott to the other 2 cards, just incase it gets the axe.

It's certainly YMMV.

Re: Chase New Account Closure - Can I get it reopened

Bees18 — Fri, 23 Nov 2018 21:04:26 GMT

Is it two chase cards in one day, or two cards period in the same day will cause a closure?

I am planning once its been 6 months from my most recent card to app for both a chase and barclay card at the same time. Currently at 3/24.

Is this doable?

Re: Chase New Account Closure - Can I get it reopened

Anonymous — Sat, 24 Nov 2018 06:24:16 GMT

@FinStar wrote:

Folks often perceive it as the lender's loss when in all reality it isn't, whether you would meet the spending for the SUB or not. They can afford to be selective.

Right, and having a purchase lined up to meet the SUB isn't particularly positive from an issuers viewpoint, as the SUB is often going to cost more than the related swipe fees. (I guess the ideal customer, if they don't pay interest, is one who doesn't quite meet the SUB but continues to use the card heavily thereafter!)

Re: Chase New Account Closure - Can I get it reopened

Anonymous — Sat, 24 Nov 2018 08:22:31 GMT

@Bees18 wrote:
Is it two chase cards in one day, or two cards period in the same day will cause a closure?

I am planning once its been 6 months from my most recent card to app for both a chase and barclay card at the same time. Currently at 3/24.

Is this doable?

chase cards only

I think chase does not know about either (chase or barclay) in real time but their own card will soon show up in some sort of internal cross check (thus preventing double dipping, causing one or more of 'under review' apps to be denied or one or more of the approved ones to be closed like what happened to the OP).

That said, unless the barclay card you are looking at is a business card, might want to think twice about hitting 5/24 limit before getting all chase cards that you might ever want.

Re: Chase New Account Closure - Can I get it reopened

UpperNwGuy — Sat, 24 Nov 2018 22:24:32 GMT

@Medic981 wrote:
@Anonymous wrote:

Since I havn't figured out how to do a signature yet I will put my stats here (let me know how to set this up).
If you use this link THIS IS HOW YOU ADD CREDIT CARD PICS TO YOUR PROFILE you will see how to set up your signature line. I know you have to obtain a certain level of member before you are able to do so.

On the upper right-hand side is the menu three dots, go to "report inappropriate content" which will get you to a moderator or administrator and they can add your stats to your signature line if you have not achieved the status needed do it yourself.

Again, Welcome to the myFICO forums.

Medic981: You need to ask one of the moderators to help you reduce the size of the images of the credit cards in your signature. They take up too much space and are a distraction to the readers.