Chase no CLI approval over 5/24

[ntenseone]

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@K-in-Boston wrote:

It sounds like the primary reason for the denial was having too many new accounts, not due to a 5/24 policy.  Chase really scrutinizes credit reports for CLI requests, and since they're looking at your credit report it's easy for them to specifically tell you that the reason you are being denied is for having 7 new accounts in 24 months rather than a more generic "too many new accounts." 

Depending on your profile, a lot of new accounts can be overcome.  I got a CLI on my CSR last year while I was LOL/24, and haven't heard of any new extensions on the 5/24 policy other than for new applications (and even then, green checkmark, black star, and in-branch preapprovals can overcome that).  What are your current scores and how does your utilization look?

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I was at 756-770 a couple months back, but purchased my first ever brand new car for my wife, opened a Citi card w/ 21mo 0% BT offer and paid off two of my wife's cards (41% util on that card now), opened an account at Furniture Row so we could replace our bed(much needed) and I've been pushing my CFU to nearly 80% util in order to have a good reason to ask for CLI on it, specifically. Past that I was going to put some MAJOR spend (~12k) on it this coming month, but it looks like I'm going to just use my CSP instead.

All other cards combined to ~21% util right now.

Score is sitting at 683-710 now.

[ntenseone]

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@K-in-Boston wrote:

It sounds like the primary reason for the denial was having too many new accounts, not due to a 5/24 policy.  Chase really scrutinizes credit reports for CLI requests, and since they're looking at your credit report it's easy for them to specifically tell you that the reason you are being denied is for having 7 new accounts in 24 months rather than a more generic "too many new accounts." 

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So, going back to this, I called Chase again this morning just to try to have a little more in depth conversation, and the nice gentleman that I spoke with specified explicitly that if there are 5 or more new credit card style accounts in 2yrs or less that it is a "hard stop" for them and they simply cannot approve a CLI until they fall off. We talked about my spend and my payment history and he confirmed that I'm a fantastic customer, and if it weren't for 5/24 that it would be no problem, but until that time I must wait.

[Gmood1]

@ntenseone 

Thanks for the update and great information.

Well, you have your answer now.

You can either sit around and wait on Chase as if they are the only bank on earth.

Or venture out and date a couple of different FIs.

You may realize, Chase isn't the bee's knees of loans and other credit products.

Good luck

[Anonymous]

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@ntenseone wrote:

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@K-in-Boston wrote:

It sounds like the primary reason for the denial was having too many new accounts, not due to a 5/24 policy.  Chase really scrutinizes credit reports for CLI requests, and since they're looking at your credit report it's easy for them to specifically tell you that the reason you are being denied is for having 7 new accounts in 24 months rather than a more generic "too many new accounts." 

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So, going back to this, I called Chase again this morning just to try to have a little more in depth conversation, and the nice gentleman that I spoke with specified explicitly that if there are 5 or more new credit card style accounts in 2yrs or less that it is a "hard stop" for them and they simply cannot approve a CLI until they fall off. We talked about my spend and my payment history and he confirmed that I'm a fantastic customer, and if it weren't for 5/24 that it would be no problem, but until that time I must wait.

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Interesting. I genuinely haven't been aware of this being the case ever--but we are now in a very strange time. As I mentioned above, I am going to test this out once my Amazon card hits the 2 year mark and moves me out of the 5/24 space (if Chase does actually count the Ink cards as part of the 5, which is something that has been talked about here before--although not certain). 

Thanks for the data point. 

[K-in-Boston]

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@ntenseone wrote:

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@K-in-Boston wrote:

It sounds like the primary reason for the denial was having too many new accounts, not due to a 5/24 policy.  Chase really scrutinizes credit reports for CLI requests, and since they're looking at your credit report it's easy for them to specifically tell you that the reason you are being denied is for having 7 new accounts in 24 months rather than a more generic "too many new accounts." 

---

So, going back to this, I called Chase again this morning just to try to have a little more in depth conversation, and the nice gentleman that I spoke with specified explicitly that if there are 5 or more new credit card style accounts in 2yrs or less that it is a "hard stop" for them and they simply cannot approve a CLI until they fall off. We talked about my spend and my payment history and he confirmed that I'm a fantastic customer, and if it weren't for 5/24 that it would be no problem, but until that time I must wait.

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Thanks for the updates.  If this is now policy, it's a very recent development.  I was going to call in and ask for a CLI on my CSR (I moved $8k from it to CFU when I opened it a year ago to take advantage of the 0% for 12 months), but since I'm planning to grab a Marriott card from them in March when I drop to 3/24 (and then PC to Ritz-Carlton, "the one that got away," after a year), I didn't want to run into any issues of having to recon that app and move lines around if that CLI puts me close to my max with Chase.  Now I'm half-tempted to call in... "for science."

[Remedios]

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@Gmood1 wrote:

I equate Chase to that nose in the air girl or boy at school, that thinks everyone wants them. 😆

Sorry about your denial.

Chase only wants a monogamous relationship it seems.

This is something new to me. 

Though, they've always been CLI shy.

If you make them your one and only.

You may get a CLI in a few years.

Kidding of course...well not really.

I'd find another main squeeze and give them that business. But that's just me.

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Imma bout to start cryin' salty tears for all those poor souls who are still getting over rejections 

Lending and otherwise. 

[M_Smart007]

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@ntenseone wrote:

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@K-in-Boston wrote:

It sounds like the primary reason for the denial was having too many new accounts, not due to a 5/24 policy.  Chase really scrutinizes credit reports for CLI requests, and since they're looking at your credit report it's easy for them to specifically tell you that the reason you are being denied is for having 7 new accounts in 24 months rather than a more generic "too many new accounts." 

---

So, going back to this, I called Chase again this morning just to try to have a little more in depth conversation, and the nice gentleman that I spoke with specified explicitly that if there are 5 or more new credit card style accounts in 2yrs or less that it is a "hard stop" for them and they simply cannot approve a CLI until they fall off. We talked about my spend and my payment history and he confirmed that I'm a fantastic customer, and if it weren't for 5/24 that it would be no problem, but until that time I must wait.

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They must have changed their policies since 9-9-2019

I was ROFL/24 at the time .. like could not even count the new accounts in /24

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Chase-Amazon-9000-00-CLI/m-p/5738392#M624911

ETA:

Approved shortly after that with many thanks to @CreditCuriosity 

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Chase-Marriott-Approval-LOL-24/m-p/5811610#M6...

[Gmood1]

@M_Smart007 

Do I have to continue to remind you?

@M_Smart007  = immortal

Rest of us = mortal 😂😂😂😂

[M_Smart007]

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@Gmood1 wrote:

@M_Smart007 

Do I have to continue to remind you?

@M_Smart007  = immortal

Rest of us = mortal 😂😂😂😂

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@Gmood1 

@M_Smart007  = Not so Smart!

[Meanmchine]

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@Gmood1 wrote:

Wow!! 

I can think of several other FIs that would give you keys to the vault with such a dedicated spend.

Never put all your eggs in one FIs basket. Especially large banks like Chase. 

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+1