topic Should i be worried about Chase shutdown? in Credit Cards

Should i be worried about Chase shutdown?

orestrus — Thu, 12 Jan 2023 20:52:42 GMT

Hi all! Today i was approved for Chase Aeroplan with $10k limit. My AAOA ~ 5 years, no derogs, ~ 8% util & 740 Experian. After gardening for a few years i decided to apply for few new cc's. 6 months ago i got barclays (my biggest regret) with toy limit, Calital One and Chade Freedom. 6 months later applied for Venture and Chase. Both approved. In my situation i got 5/24, but 5 cards in the last 6 months. Obviously no more applications. Should i be worried about Chase? Read a few scary stories here that they like to shut down new and existing cards if they see too many new cards. Appreciate all feedback!

Re: Should i be worried about Chase shutdown?

simplynoir — Thu, 12 Jan 2023 21:33:48 GMT

As long as you do not apply for anymore new cards and let things settle down you should be fine. Keep the utilization under control, pay your bills on time, and let your recent accounts age up and you will be good to go

Re: Should i be worried about Chase shutdown?

orestrus — Thu, 12 Jan 2023 22:08:23 GMT

u made my day🙏🙏 Thank you💪💪

Re: Should i be worried about Chase shutdown?

SouthJamaica — Fri, 13 Jan 2023 19:09:34 GMT

@orestrus wrote:
Hi all! Today i was approved for Chase Aeroplan with $10k limit. My AAOA ~ 5 years, no derogs, ~ 8% util & 740 Experian. After gardening for a few years i decided to apply for few new cc's. 6 months ago i got barclays (my biggest regret) with toy limit, Calital One and Chade Freedom. 6 months later applied for Venture and Chase. Both approved. In my situation i got 5/24, but 5 cards in the last 6 months. Obviously no more applications. Should i be worried about Chase? Read a few scary stories here that they like to shut down new and existing cards if they see too many new cards. Appreciate all feedback!

I don't think your credit card acquisitions are so numerous that they would trigger a closing of your accounts.

Re: Should i be worried about Chase shutdown?

Fairpayment — Thu, 06 Apr 2023 01:15:36 GMT

Any update?

Re: Should i be worried about Chase shutdown?

SouthJamaica — Thu, 06 Apr 2023 01:56:10 GMT

@orestrus wrote:
Hi all! Today i was approved for Chase Aeroplan with $10k limit. My AAOA ~ 5 years, no derogs, ~ 8% util & 740 Experian. After gardening for a few years i decided to apply for few new cc's. 6 months ago i got barclays (my biggest regret) with toy limit, Calital One and Chade Freedom. 6 months later applied for Venture and Chase. Both approved. In my situation i got 5/24, but 5 cards in the last 6 months. Obviously no more applications. Should i be worried about Chase? Read a few scary stories here that they like to shut down new and existing cards if they see too many new cards. Appreciate all feedback!

I don't think Chase will view it as so excessive that they would feel the need to claw back your Chase accounts. But yeah, you should stop for awhile.

Re: Should i be worried about Chase shutdown?

Fairpayment — Fri, 07 Apr 2023 00:48:33 GMT

It's April now, any updates so far? I also have 5 new accounts opened within the last 6 months, that includes 2 chase cards. Please update lol