CSR Denied and no option for recon!

[Anonymous]

People only PC to CSR as consolation lol. Never PC.

[red259]

I agree with the comment should look at closing cards. Im over 5/24 but i have not closed any of my chase cards and pay the AFs. A card like the reserve would motivate me to focus much more spend with chase beyond the bonus. Sadly their general 5/24 rule knocks out some profitable clients. I will have to check for prequals once i am stateside.

[msbia]

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@Anonymous wrote:
People only PC to CSR as consolation lol. Never PC.

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This is a broad and kind of erroneous statement. I product changed because I have a LOT of UR points already and didn't want to get double pulled for a denial because of 5/24. I weighed the benefits of the card versus the $450 AF and with my upcoming travel, found I would come out ahead. I will be under 5/24 by next summer, I can downgrade the CSR back to CSP and reapply if I want at that point. There is no consolation for me, it's all a win/win. 

[kdm31091]

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@Anonymous wrote:
Instead of Chase using a "5/24" rule wouldn't it be easier and more beneficial to look at "quantity of closed accounts and timeframe" ??? It would be much easier to find "churners" from closed accounts vs many newly opened accounts, especially on these high AF card's. From almost everything I've read, true "churners" open many accounts to gain the sign on bonuses and normally close them out prior to the one year anniversary and recurring AF being charged. While I've opened many new cards in the past two year's, I've only closed one account, my horrendous Credit One. I haven't opened a single account I don't plan to use and keep for many years to come, unless the benefits were to change drastically.

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I get what you are saying but the more accounts you have the less you will be using/spending on your Chase cards. They don't want people who will just get it and SD it even if it's not actually closed.

Do I like 5/24, no, but I've accepted it. It is what it is until they change it someday.

[takeshi74]

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@Creditaddict wrote:

I clearly have read some that have gotten by the 5/24 but not nearly as far by as I would have been if I had gotten it but it just seems like Chase is shooting themselves in the foot on this one.

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Some have but you need to do your research to see how.

And seriously, Chase is shooting themselves in the foot for not approving you?  They set the policy based on their experiences with their customers.  The policy doesn't exist for your benefit but to protect them.

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@Anonymous wrote:
Instead of Chase using a "5/24" rule wouldn't it be easier and more beneficial to look at "quantity of closed accounts and timeframe" ??? 

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You're assuming that churners are their only concern.  AFAIK Chase hasn't been transparent about 5/24, it's specific purpose(s), the reasoning behind it, etc.

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:
Instead of Chase using a "5/24" rule wouldn't it be easier and more beneficial to look at "quantity of closed accounts and timeframe" ??? It would be much easier to find "churners" from closed accounts vs many newly opened accounts, especially on these high AF card's. From almost everything I've read, true "churners" open many accounts to gain the sign on bonuses and normally close them out prior to the one year anniversary and recurring AF being charged. While I've opened many new cards in the past two year's, I've only closed one account, my horrendous Credit One. I haven't opened a single account I don't plan to use and keep for many years to come, unless the benefits were to change drastically.

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I get what you are saying but the more accounts you have the less you will be using/spending on your Chase cards. They don't want people who will just get it and SD it even if it's not actually closed.

Do I like 5/24, no, but I've accepted it. It is what it is until they change it someday.

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Yes, and also Chase (or any other issuer) doesn't have to be exactly right in every single case, just enough to exclude most unprofitable people without excluding too many profitable people (with errors on both sides)   And presumably, they did data analysis showing the 5/24 was a good predictor.

And it is a dynamic environment, so you may app for, and plan to use the CSR forever, but when in three months LTLBank comes out with a much better card, despite your good intentions, you S/D and then downgrade your CSR.

[wachme]

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@msbia wrote:

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@Anonymous wrote:
People only PC to CSR as consolation lol. Never PC.

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This is a broad and kind of erroneous statement. I product changed because I have a LOT of UR points already and didn't want to get double pulled for a denial because of 5/24. I weighed the benefits of the card versus the $450 AF and with my upcoming travel, found I would come out ahead. I will be under 5/24 by next summer, I can downgrade the CSR back to CSP and reapply if I want at that point. There is no consolation for me, it's all a win/win. 

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That's still a consolation. If you were under 5/24, your first choice would have been to apply for the CSR and not PC based on your statement. You settled for option #2.

[Creditaddict]

We received our PC CSR cards by UPS yesterday for my partners account.

Looks nice, but it's no Ritz Card... For the AF, Chase really should have considered a Rtiz Metal card for it!

[msbia]

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@wachme wrote:

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@msbia wrote:

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@Anonymous wrote:
People only PC to CSR as consolation lol. Never PC.

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This is a broad and kind of erroneous statement. I product changed because I have a LOT of UR points already and didn't want to get double pulled for a denial because of 5/24. I weighed the benefits of the card versus the $450 AF and with my upcoming travel, found I would come out ahead. I will be under 5/24 by next summer, I can downgrade the CSR back to CSP and reapply if I want at that point. There is no consolation for me, it's all a win/win. 

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That's still a consolation. If you were under 5/24, your first choice would have been to apply for the CSR and not PC based on your statement. You settled for option #2.

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Completely subjective and highly argumentative. Moving on. 

[CreditMagic7]

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@Creditaddict wrote:

We received our PC CSR cards by UPS yesterday for my partners account.

Looks nice, but it's no Ritz Card... For the AF, Chase really should have considered a Rtiz Metal card for it!

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I'm still hanging on to that lowly CSP (Metal Card) but Chase even with this newest card release in the CSR is so completely soured some folks including myself, that as long as they cling to that 5/24, attention is turned elsewhere and away from them.

Still, it's amazing for me to see so many still flocking to try to reel in Chase Cards. at a time when they have buckled down hard.