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.
Am I️ on the radar for Chase???
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.
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.
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.
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!