Chase 24 hour rule?

[909]

Last week I applied for a Chase Sapphire Reserve and Chase Amazon Prome card. I was approved for $35K for the CSR and also approved for the Chase Amazon Prime card. What happened to the Amazon card is interesting. First it was approved for $5K, minutes later it was bumped up to $9,600 (when I logged on to the Chase app it showed $9,600, the online approval showed $5K). Then a couple of days later I received a letter that the Chase Amazon card was reviewed and declined.

I called Chase and was told that if Chase receives multiple apps in 24 hours the apps receive a second manual review which is where my accoount was closed. Reasons included sufficient of credit with Chase already, too many inquiries, etc.

Before these apps my newest account is a HELOC was that I opened in November. Before that my AoYA was 31 months (no new credit cards or loans in 2 1/2 years).

The good news is that they kept the CSR open and I received a decent CL. I also kept the $70 (so far) Amazon credit from opening the Amazon Prime card. The bad news is that I got a worthless inquiry and a new account which will reduce my AAoA.

Is this 24 hour rule something that other folks were aware of?

[FinStar]

Not so much of a "24 hour" rule OP.

As far as the Chase Amazon CC, the initial SL approval is temporary until the card is activated.

The AA you experienced is Chase's secondary risk review process with regard to multiple product applications in a short period of time. This has been going on for a few months as of late. Not to mention that the 5/24 restriction has also expanded to all of their CC products since mid-November.

[909]

Thanks for the insights! The 5/24 doesn't apply to me but the secondary review certainly did. The phone rep mentioned that it was triggered by mutiple apps in 24 hours but it may be as you suuggest that it's due to multiple apps in a short pertiod of time.

Do we have any idea of what a short period of time is? Is it likely that if I reapply for Amazon in 30 days that there wouldn't be an AA? The 5% rewards at Amazon is appealing since I shop there a lot. My overall revolving limit is $180K, Util is always below 3% and Fico 8s are in the low 800s.

Thanks.

[FinStar]

Honestly, given your recent adverse action outcome I wouldn't push the envelope with Chase. Wait at minimum of ~3 months. Just my 02¢.

By your own admission, you wouldn't have to worry about the 5/24 restriction and the Amazon Visa product isn't going anywhere.

[rbentley]

You could always app for the Amazon store card underwritten by Sync. It has the same 5% off Amazon, offers SP CLI and often higher SL. The major drawback is that it is a store card and can only be used at Amazon, although it does report to all the bureaus and can be helpful in your UTL.

[patoot10]

By the end of August. Chase started shutting down the second account approved in the same day. People used to do that so they can end up with 1 hard inquiry or double dip 2 cards if they are sitting at 4/24. What happened to you is normal and with a little bit of research before applying for two cards of Chase you could have found out about that.

Chase doesn't have a 24 hour rule but you can't get 2 cards in the same calendar day. The modified Chase double dip is to apply for a card and get approved then apply for the other one within 24 hours but in a different calendar day which if yielded a second approval will not get closed and they won't pull your credit for the second application.