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How many CC’s after CSP approval?

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How many CC’s after CSP approval?

I️ went on an App spree and feel terrible.
Only had discover for a whole year then went for GAP and VS at $500 approval 3 weeks ago. Applied for CSP, got a 30 day message. Got approved for $5200 this tuesday.
Went to target and shopped on amazon, approved for $500 yesterday.

Note, I️ am going on vacation. Got the CSP for the $800 hotel we will be staying at next week and the dining we will be doing. Got the store cards for the clothes and target and amazon for travel luggage and other stuff.

I️ have always paid in full, so that is not a problem. My worry is that none of the CC’s except GAP and Target have been reported and Chase will see I️ went for 2 more CC’s after approval. After reading stories, I️ am worried about a cancellation from them as they are the only bank I️ have been banking with.

I️ am gardening for now, got everything I️ need. The approval after approval made me excited but I️ wanted to stop after the CSP. Target and Amazon apps were just impulse applications. Smiley Sad

Am I️ on the radar for Chase??? Smiley Sad
Message 1 of 8
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Moderator

Re: How many CC’s after CSP approval?


@cgr15 wrote:
I️ went on an App spree and feel terrible.
Only had discover for a whole year then went for GAP and VS at $500 approval 3 weeks ago. Applied for CSP, got a 30 day message. Got approved for $5200 this tuesday.
Went to target and shopped on amazon, approved for $500 yesterday.

Note, I️ am going on vacation. Got the CSP for the $800 hotel we will be staying at next week and the dining we will be doing. Got the store cards for the clothes and target and amazon for travel luggage and other stuff.

I️ have always paid in full, so that is not a problem. My worry is that none of the CC’s except GAP and Target have been reported and Chase will see I️ went for 2 more CC’s after approval. After reading stories, I️ am worried about a cancellation from them as they are the only bank I️ have been banking with.

I️ am gardening for now, got everything I️ need. The approval after approval made me excited but I️ wanted to stop after the CSP. Target and Amazon apps were just impulse applications. Smiley Sad

Am I️ on the radar for Chase??? Smiley Sad

It's hard to say OP, but what's done is done.  No one would be able to tell you with absolute certainty how some lenders' risk algorithms work, especially Chase.  What is known for sure is that Chase tends to SP your CRs shortly after an approval so the best thing to do is do not apply for anything out of impulse, fly below the radar and manage your newly acquired accounts accordingly.  Potentially, nothing may come out of it, but none of us know for sure. 

Message 2 of 8
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Member

Re: How many CC’s after CSP approval?

Thank you for the response.
My whole dilemma is that I️ either charge all that I️ have purchased with the other cards, $800 hotel, and whatever we spend on dining during our vacation week on the CSP, and then also risk being closed for using it so much within a short period of time or just open new credit lines for my purchases. Read a lot about Chase closing cards on high spending (even though the 4,000 limit for the 60k points is three months???)

Hate having to walk on eggshells with Chase.
This card is my first travel card and after researching, what best suits me and my lifestyle. But sucks how easily it can be taken away. Smiley Sad

Just waiting on these cards to post the charges to pay them all off. Hoping everything shows up with no balance. Chase is also able to see what I️ have in the bank, so I hope it can let me be overlooked for all these new cards. Smiley Sad
Message 3 of 8
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Frequent Contributor

Re: How many CC’s after CSP approval?

I agree. I opened my first Chase card in 08/2016. It was my 4th credit card at the time, followed by 8 other new cards in short order, primarily because I wanted my portfolio to age together (including 2 other Chase Cards). Anyway, the point is you never really know what action they will or will not take. They have never taken an action against my cards or credit limits and I still receive offers for other Chase cards, although I put most of my spend on Amex, go figure. I run less than $30 dollars per month combined through my 3 Chase cards. 




Message 4 of 8
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Contributor

Re: How many CC’s after CSP approval?

Op you’ll probably be fine but stop applying for more cards.
Message 5 of 8
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Super Contributor

Re: How many CC’s after CSP approval?

At this point there's nothing you can do as the damage is done and the accounts will report, so there's not much point in stressing over it. I would just lay low with inquiries/new accounts and if anything does happen you can deal with it at that time. Nobody really knows Chase's specific algorithim obviously. Of course it's possible your account could be CLD or closed but it's very possible nothing will happen too. The best thing is to just manage the new accounts and let your credit report cool down either way.

Message 6 of 8
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Community Leader
Senior Contributor

Re: How many CC’s after CSP approval?

There’s no guarantee either way. The only thing you can do is pay off your cards as quickly as possible so at least you’re not reporting high balances. I wouldn’t get too depressed, because Chase may very well leave you alone if you stay in the Garden. Fingers crossed! Good luck!

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Message 7 of 8
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Community Leader
Mega Contributor

Re: How many CC’s after CSP approval?

I say strike while the iron is hot. If you get 5 more cards and Chase closes your card, you'll have 5 more as backupsSmiley Happy

Lol, just kidding. As said, its done. Dont stress over who to use in case. If you have a SUB to reach use your Chase and meet it. Enjoy your approvals and just remember pick up cards at a leisurely pace from here on outSmiley Happy
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