Chase app velocity

[MrDisco99]

I just got a Chase Ink Cash card in March.  My plan was going to be to apply for the Ink Unlimited when I finished the bonus spend on that card, and then go for the CSP a month or two after that.

However, I'm seeing recommendations of waiting 90 days between Chase apps.  I got my Chase Freedom and Freedom Unlimited on the same day, but that was several years ago.  Are there velocity rules with Chase that I need to consider?  What are the chances I'll get approved for the Ink Unlimited or CSP only 2 months after getting the Ink Cash?

Other factors... I am 4/24 and about to be 3/24 so that should hopefully not be a factor.  I have a high balance on my Ink Cash $2000/$5000 that I was thinking I might pay over time.  Would it make more sense to pay that down before my next Chase app?

[GatorGuy]

It's a minimum of 30 days but ideally 90 days. I would also pay off that balance if it was me. I would hold off atleast 3 months before applying for a 3rd card. Chase doesn't like credit seeking, even more so when it's them.

[coldfusion]

Back when churning Chase cards was a thing and you had a track record of success (i.e. you had a strong credit profile) the unwritten rule of thumb was to follow a cadence of 1 Chase card every 4 months. 

Chase has a rolling 2/30 rule and while one can get approved for a card on each of 2 consecutive days they currently do not support 2 approvals on the same day.  Occasionally someone manages to slip through the cracks and gets 2 approvals on the same day but invariably when Chase' back end catches up a few weeks later they leave the 1st card alone but close the 2nd card.

[SPChaser]

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@coldfusion wrote:

Back when churning Chase cards was a thing and you had a track record of success (i.e. you had a strong credit profile) the unwritten rule of thumb was to follow a cadence of 1 Chase card every 4 months. 

Chase has a rolling 2/30 rule and while one can get approved for a card on each of 2 consecutive days they currently do not support 2 approvals on the same day.  Occasionally someone manages to slip through the cracks and gets 2 approvals on the same day but invariably when Chase' back end catches up a few weeks later they leave the 1st card alone but close the 2nd card.

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Darn @coldfusion thought it was 1/30 and maybe 2 for the same day, if you're lucky. 

[MrDisco99]

OK so it sounds like I need to space these out further.

I'm moving ahead with paying my Ink Cash down to zero now before anything else.  I'm thinking I'll go for the CSP after that which would be a little over 2 months since getting the Ink Cash.  That will bump me up to 4/24.

As for the Ink Unlimited, I was going to go for that next (before the CSP) but advice here and elsewhere seems to suggest I should space business card apps even further apart.  So I'm thinking after the CSP I'll wait another 3 months before going for the Ink Unlimited, which would be 5 months since the Ink Cash.

Does that sound like a more solid plan?

Also I got a mailer this week saying I should app the CSP with a solid APR listed.  Never got one of those before.  That seems encouraging.

[coldfusion]

There is kind of a fine line because you're mixing both personal and business cards in your plan. But...

I'll also note that 1 other relevant factor is how much exposure you currently have with Chase - currently about $40K if your signature reflects current reality.  That's pretty comparable with where you're currently at with Citibank and pales compared to your exposure with AMEX; while not so relevant in the sense that Chase wouldn't be highly motivated to match levels it does infer that it isn't a stretch to think Chase wouldn't be an outlier if they were willing to increase their exposure.

I'd probably go with the CSP first as per your comment above and then reassess your timeline moving forward based upon the outcome.  Also keep in mind that if there is a denial at some point there is the option to offer upon recon to reallocate limit from an existing card in order to secure an approval; just note that while with Chase you can reallocate limit from personal to business cards you can't go the other way. 

[MrDisco99]

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@coldfusion wrote:

I'd probably go with the CSP first as per your comment above and then reassess your timeline moving forward based upon the outcome.  Also keep in mind that if there is a denial at some point there is the option to offer upon recon to reallocate limit from an existing card in order to secure an approval; just note that while with Chase you can reallocate limit from personal to business cards you can't go the other way. 

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Yeah that's my thinking as well.  I have plenty of credit on my other cards to comfortably pull from if it comes to that.

Also, I tried to get credit moved from my personal cards to Ink Cash when I first got it and they flat out said they could not do that.  Two different people told me such.  I know Amex allows it, but if Chase did then it seems they don't anymore.

[FinStar]

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@MrDisco99 wrote:

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@coldfusion wrote:

I'd probably go with the CSP first as per your comment above and then reassess your timeline moving forward based upon the outcome.  Also keep in mind that if there is a denial at some point there is the option to offer upon recon to reallocate limit from an existing card in order to secure an approval; just note that while with Chase you can reallocate limit from personal to business cards you can't go the other way. 

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Yeah that's my thinking as well.  I have plenty of credit on my other cards to comfortably pull from if it comes to that.

Also, I tried to get credit moved from my personal cards to Ink Cash when I first got it and they flat out said they could not do that.  Two different people told me such.  I know Amex allows it, but if Chase did then it seems they don't anymore.

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Chase stopped doing CL reallocations from personal cards to business cards for almost ~2 years.