Chase Sapphire Preferred - too many accounts 5/24

[coldfusion]

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@Anonymous wrote:

Am I pushing any boundaries?  I thought I am playing by the house rules.

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You're vying to take a 3rd bite out of the Sapphire SUB apple and  Chase doesn't want to play that particular game with you. 

[babygirl1256]

@Anonymous Welcome to the forum . . . with the Chase 5/24 rule I think that you must have fewer than five approvals for credit cards over 24 months -and- I believe you would need to wait for some of your cards to age. If your new cards were 6/19, 10/19, 2/21 and 3/21 that would make you 4/24 . . . hopefully it works out!!!

[SouthJamaica]

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@Anonymous wrote:

TL;DR: Do I wait for June and reapply or proceed in the journey elsewhere?

I'm new to SUB game, and just got my first rejection due to 5/24 when applying to CSP: "Too many credit cards opened in the last two years associated with you".  Also, my online account showed I was pre-qualified for CSP but I guess that's not a guarantee.  I previously had CSP in 2014-2016, and CSR from 2016-2019 (100k SUP).

In 2018, I opened Cap1 Venture (downgraded to Venture1 in 2019), Barclary Arrival+ (downgraded to Arrival in 2019), and Amex Delta Gold (closed 2019).  In 6/19 and 10/19, got into Citi with Double and Costco cards.  In 2/21 and 3/21, opened Penfed Pathfinder and Amex Delta Platinum.

I'm hoping that I just need to wait a month and try CSP again before proceeding with other issuers.  I'm traveling in July and November 2021 and Europe 2022.  Considering hotel cards (Hilton Aspire for Diamond or a Marriott Chase/Amex).  Advice appreciated.

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From what you've described, you're at 4/24, not 5/24.

[Anonymous]

Thank you.  Making more sense.  The vague "Too many accounts" may mean too many recently opened accounts.

Does the community know how long I need to wait?  Is there any harm for reapplying every month?  I understand the HP brings down my score a few points every time.

So far, reasonable advice is 90-days.

[FinStar]

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@Anonymous wrote:

Thank you.  Making more sense.  The vague "Too many accounts" may mean too many recently opened accounts.

Does the community know how long I need to wait?  Is there any harm for reapplying every month?  I understand the HP brings down my score a few points every time.

So far, reasonable advice is 90-days.

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The reasonable approach is 90 days based on your estimation of the data you've shared.

Keep in mind, the reason cited "Too many credit cards opened in the last two years associated with you" is referencing the 5/24 restriction.  I would review your CRs to confirm.  So, even if you opened an account within the 24 month timeframe and closed it, it counts.  Also, this includes charge accounts, retail store accounts, lines of credit, such as overdraft LOCs, PLOCs, HELOCs, etc., and any revolving account where you may be an authorized user, if applicable.  The only known exclusions are installment loans such as auto, student, home equity loans or a mortgage.

[Anonymous]

I just checked Equifax and their site has a closed accounts section that revealed that my Amex Delta Gold was actually opened 06/2019.  That's the mystery fifth account opened within the 24 months.  Appologies for the inaccuracy and confusion.  Thank you to all that challenged the wrong information.

[KLEXH25]

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@Anonymous wrote:

I just checked Equifax and their site has a closed accounts section that revealed that my Amex Delta Gold was actually opened 06/2019.  That's the mystery fifth account opened within the 24 months.  Appologies for the inaccuracy and confusion.  Thank you to all that challenged the wrong information.

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In addition to their 5/24 rule, some other things Chase doesn't like are: new accounts right before opening a Chase card, new accounts after opening a Chase card, and SUB chasing. Even if they approve you for a card, they have been known to close them if they see something they don't like after.

[jcooks]

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@Anonymous wrote:

From June 2019-present: (1) Amex Delta Gold (closed), (2) Cap1 Venture+, (3) Barclay Arrival, (4) Penfed Pathfinder, and (5) Amex Delta Platinum.

I'm not sure what you meant by six-month recency.  Does that mean there's no point in waiting until July to try CSP again?

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What about the Citi Costco card that you listed in first post?

[Anonymous]

I was in a state of confusion when posting the list of five.  Both Arrival and Venture1 cards were opened in 2018.  In that list, second one should be Citi DoubleCash and third one should be Citi Costo.

(1) Amex Delta Gold (6/19, closed 5/20)

(2) Citi DoubleCash (6/19)

(3) Citi Costco (10/19)

(4) Penfed Pathfinder (2/21)

(5) Amex Delta Platinum (3/21)

In 07/21, I'll drop down to 3/24.

In 11/21, I'll drop down to 2/24.

Next Chase cards likely to be CSP, Quest, and Bonvoy.  In the Amex family, Platinum or Aspire.

[GrandBay]

@Anonymous  I would not recommend applying monthly. Just wait until July/August before applying when you are down to 3/24. Personally, I would garden for the next 6 months and re-apply then but thats a personal call.  Also, are you chasing cash back cards or travel based cards?