topic Re: Inq sensitivity for Chase in Credit Cards

Inq sensitivity for Chase

red259 — Thu, 17 Jan 2019 07:44:42 GMT

So I appear to be 6/24 at the moment. In may I will drop down to 4/24 and then in june 2/24. I would like to go for 3 or 4 chase cards total. Two business and two personal. Over what time period would I need to spread these apps out to avoid denials for too many inqs/agressive credit seeking? I have a thick credit file, good scores, have held chase credit cards for years. Likely cards I am considering are ink preferred, united business card, hyatt personal card and united personal card all subject to change depending on the bonuses at the time. Also, i would not be applying for all at the same time but likely one a month. Even though its a few months away I am starting to think about app orders and what my particular needs are etc.

Re: Inq sensitivity for Chase

kdm31091 — Thu, 17 Jan 2019 11:31:58 GMT

I would just be really careful. Things are not how they used to be. Chase has been known lately to shut down newly approved accounts if they feel you are apping too frequently, etc. I would spread out the new openings as much as you can, regardless of 5/24. One new account per month with a bank is a lot. I'd probably wait 3 months in between each to be safe because Chase doesn't play around these days.

Re: Inq sensitivity for Chase

AverageJoesCredit — Thu, 17 Jan 2019 11:58:48 GMT

Id agree with Kdm on this. Slow and Steady , especially if one values their cards with Chase. Not saying closures would happen but why risk it. Id even go as far as saying 1 every 6 months for breathing room?

Re: Inq sensitivity for Chase

UpperNwGuy — Thu, 17 Jan 2019 13:25:46 GMT

I agree with Kdm too.

Re: Inq sensitivity for Chase

NRB525 — Thu, 17 Jan 2019 14:27:52 GMT

How is your current spend allocated? Are you running a lot of spend through the Chase cards you have?

And which Chase cards?

Rather than randomizing the four, I would ask which card do you think you will get the most use from?

Are you intending to keep them long term, including AF, or are any viewed as short term?

Re: Inq sensitivity for Chase

Anonymous — Thu, 17 Jan 2019 14:34:13 GMT

I agree with them. Chase certainly with shut down a card. They do SPs and if they see "seeking" behavior they will probably not only deny a card but shut down the ones you have with them. It happened to me with Citi Bank, they shut down 5 of my cards from a SP with the latest card I was approved for. I hear Chase is even more strict so I can only imagine what they would do. I say one every 6 months as well or every 4 months minimum.

Re: Inq sensitivity for Chase

bourgogne — Thu, 17 Jan 2019 15:06:28 GMT

@UpperNwGuy wrote:
I agree with Kdm too.

I agree with your agreement of him lol. just had a chat with my banker a few weeks ago about this topic, he said card apps across the board are really being scrutinized esp the inks - tons of denials. he manages a branch in a very affluent area in los angeles, so it can happen to anyone. there was one week a few years back that I had to get the house re-piped and I got a card on mon and then back again on wed. did lots of double taps with friends. those days are gone. I would wait 6 cuts between apps at a min with them these days

Re: Inq sensitivity for Chase

redpat — Thu, 17 Jan 2019 15:19:55 GMT

Agree w/ kdm and others.

OP, how many chase cards have you closed post SUB?

This seems to be a factor also from other posts regarding shutdowns.

2/24 might not matter if you closed six cards and received SUBS then renewing the same card for another SUB.

Re: Inq sensitivity for Chase

xaximus — Thu, 17 Jan 2019 15:27:03 GMT

I concur with what the posts stated. 1 every 6 months to be on the safe side. Chase has definitely cut down and is being quite conservative. I recently had a chat with a banker at my branch and she stated the same thing. With the way the economy is looking and other factors, they are being more conservative and taking time on credit apps.

Re: Inq sensitivity for Chase

bourgogne — Thu, 17 Jan 2019 15:37:20 GMT

@xaximus wrote:
I concur with what the posts stated. 1 every 6 months to be on the safe side. Chase has definitely cut down and is being quite conservative. I recently had a chat with a banker at my branch and she stated the same thing. With the way the economy is looking and other factors, they are being more conservative and taking time on credit apps.

yep, it would seem the party is over or at least has slowed down a lot. all of my apps w them have been done at the branch, even co-brands. all instant except the 8th one - 10 if counting apps. I always had to give the ex pin which was expected but always approved after that. not the last time. the ink unlimited immediately went pending with my banker on the phone w lending - they said there is nothing he could do, that the account was locked out whatever that means. called the stat line a day later, talked to the csr and she said it was in the dreaded shutdown dept and they were reviewing all my accounts. great. she said i have to wait 10 days for the decision. before I called on the 10th day I checked the portal and there it was. I think I am sticking with 8 max now lol

Re: Inq sensitivity for Chase

Anonymous — Thu, 17 Jan 2019 17:29:50 GMT

I just barely slipped in with Chase at 4/24, and then had 4 other new accounts post within 3 months of apping with them. Only because you can't PC BCE to ED, so i had to app for it. NFCU card was added so that I could add Money without too many hoops to jump through.

I would definitely warn against this, I didn't intend for it to line up this way, but things just happend. Luckily they have't taken any AA. Though I imagine if my debt load had increased, they might have.

My goal one day, if I can ever get lower than 5/24 again, will be to get the Freedom. Trying to set a goal that by 2020 I have fewer CC, and would like to ditch everything but Amex Gold & ED, Discover, CSP & Freedom, and my local CU.

Re: Inq sensitivity for Chase

red259 — Thu, 17 Jan 2019 22:21:00 GMT

@NRB525 wrote:
How is your current spend allocated? Are you running a lot of spend through the Chase cards you have?
And which Chase cards?

Rather than randomizing the four, I would ask which card do you think you will get the most use from?
Are you intending to keep them long term, including AF, or are any viewed as short term?

The CIP would be to keep long term and probably would take the place of the CSR since I only keep that to the ability to transfer points now. It is certainly my highest priority card to get for the signup and ability to transfer points and the cell phone feature.The United cards would be to earn signups. The hyatt cards I tend to keep.

Re: Inq sensitivity for Chase

red259 — Thu, 17 Jan 2019 22:12:38 GMT

@redpat wrote:
Agree w/ kdm and others.

OP, how many chase cards have you closed post SUB?

This seems to be a factor also from other posts regarding shutdowns.

2/24 might not matter if you closed six cards and received SUBS then renewing the same card for another SUB.

The only cards with chase I close are co-brand hyatt cards and I had a marriott card once. The hyatt cards I normally keep for two years and then reapp. The rest of the cards I kept and PC to non-AF cards. So I have two old ink cards which I have had for years along with two freedoms one of which is my oldest card (its been open with chase for 6 years) and I have the CSR which I want to replace witht he CIP.

Re: Inq sensitivity for Chase

kdm31091 — Fri, 18 Jan 2019 12:32:06 GMT

I think regardless of opening/closing histor with Chase cards, one Chase card every 3-6 months is the best advice. From all I have heard, they just aren't fond of multiple recent applications at all these days. You may get lucky and nothing may happen, but some have definitely been shut down. Slower is better with Chase. They really have caught on to excessive credit seeking behavior and aren't shy to take action about it.

Most consumers aren't going to open a card more than every 6 months anyway, and almost certainly not with the same bank. Just try to keep in mind that you want to appear as "average" as possible. Don't stick out to an algorithim or you will have an issue.

Re: Inq sensitivity for Chase

NRB525 — Fri, 18 Jan 2019 20:06:33 GMT

My suggestion would be to get the CIP first, then 6 months or so for the Hyatt, since those are keepers.

I would be concerned about a past pattern of cycling the Hyatt. Future closures of any Chase cards may start to raise issues.

If the United cards are not keepers, are just harvesting bonus, I’d have to weigh how much that bonus is really worth, vs long term Chase card earnings.

I have taken the view that cards I really want are with banks that I do not rock the boat.

If I don’t really care about the bank for long term, then I may be more inclined to app for a bonus knowing there is a high probability the card will be closed in two years. If I am not concerned about a long term relationship with a bank like Barclays then that frees up the apping options. Chase is not one of those banks, for me.

Re: Inq sensitivity for Chase

Flex1 — Fri, 18 Jan 2019 20:34:42 GMT

@kdm31091 wrote:
I would just be really careful. Things are not how they used to be. Chase has been known lately to shut down newly approved accounts if they feel you are apping too frequently, etc. I would spread out the new openings as much as you can, regardless of 5/24. One new account per month with a bank is a lot. I'd probably wait 3 months in between each to be safe because Chase doesn't play around these days.

I agree with this... It may be in your best interest to consider other options that aren't so, "jumpy"... Why take the risk if you don't have to. And if they do shut you down, all of those hp's will be in vain. Good luck and keep us posted!