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Spree results : Chase closed one of my CC

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Spree results : Chase closed one of my CC

Did a big spree last month that I posted about recently. Though I mistakenly continued the spree after the post to experiment and this is why I'm regretting it.

App'd for 2 Chase on same day both approved at first (CSP & Disney). Great! Thought I was an outlier to the rule but nope. Got the cards last week and this morning I received a notice from Chase they're closing the Disney card.

Reasons : TOO MANY REQUESTS FOR CREDIT OR REVIEWS OF CREDIT
SUFFICIENT CREDIT AVAILABLE WITH CHASE

Anyway for those interested the total spree since mid Feb was:
Barclays Uber
BoA cash rewards
US Bank Cash+
CSP
Citi double cash
Wells Fargo Propel
HSBC cash rewards
Amex BlueBusinessPlus
Amex Prime Business card

Honorable mention here CapOne, triple pull denied app, no recon available. This one still stings.

Well I hope this serves as good datapoint to some and learn from my mistake.

-Edit-

Fico scores were 780-790.  They are now at 738-750 with Experian being lowest.

The score Chase showed on my closure letter was 756 Experian (2/25)

Message 1 of 18
17 REPLIES 17
Established Contributor

Re: Spree results : Chase closed one of my CC

Thanks for sharing...Chase has tightened up in most every respect. You’re fortunate both Chase cards weren’t closed. With the improved economy and interest rates rising, its much more of a seller’s market for the creditors, and they are flexing the muscle.
Back In the garden June 2019 until TBD
FICO 8 Scores (Inquiries) May 29, 2019

Military Star - $8.7K | FCCU Platinum Signature VISA - $13K | Care Credit - $25K | Barclay AA Red MC - $5K | Best Buy Citi Visa - $3K | Cap1 Savor - $3.1K | USAA Signature VISA - $6K | PFCU Power Cash Rewards Signature VISA - $28.5K | CSR $15K | USAA AMEX - $12K | AMEX BCP - $35K | Chase Freedom Signature Visa- $7.5K | HSBC Rewards MC - $1.75K | CITI DC - $10.3K | Discover It - $16K | NFCU Cash Rewards Signature Visa - $10K | NFCU CLOC - $15K | TD Ameritrade Client Rewards Visa - $1.5K | Chase FU Signature $15K | Citi AA Plat MC $13K
AAoA 6 Yrs 10 Mos AoOA 16 Yrs 2 Mos AoYA 1 Mos
Currently 13/24
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0/24 on 3/20/21
Installment Loans
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Student Loans $32K of $66.65K @ 2.75% (51.93% Paid)
Annual Income ~ $110K
Message 2 of 18
Community Leader
Super Contributor

Re: Spree results : Chase closed one of my CC

Sorry for your AA. It happens! 
You didn't mention your scores in the DPs. Also the Amex CCs don't count as they are hidden TLs.
I've read over the last year, Chase tightened on the double apps. If you'd apped for one Chase. I think you'd have been fine.
They've closed down quite a few members here that did the same. Not sure your other apps had anything to do with it to be honest.
 
Seems as if their system doesn't flag you on the DBL apps. They come back and manually review and still take one away.
Back in the day, you could DBL app them and come out unscathed. That ship has sailed.
Message 3 of 18
Regular Contributor

Re: Spree results : Chase closed one of my CC

Thank you for sharing.  I will keep all this in mind when I come out of the garden.

 

tenor.gif


Message 4 of 18
Community Leader
Mega Contributor

Re: Spree results : Chase closed one of my CC

Indeed, that many cards at once, id count my lucky charms both were not closed. 2 in one day did you in but it could have been much worse. More than likely a strong profile saved you. If it was someone rebuilding , i wouldnt be suprised to see all Chase cards closed..
#ChaseCreditCardHobby Enthusiast
2022
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Message 5 of 18
Regular Contributor

Re: Spree results : Chase closed one of my CC

@bambino444

 

That is some app spree.......I'm curious, did you note which bureau each one pulled for you?

Message 6 of 18
Valued Contributor

Re: Spree results : Chase closed one of my CC

Well Barclays reports to the bureaus in like 3 days so I'm not so sure they will like 6 accounts immediately showing up after them.  I hope the AA is over but I'm skeptical.  

 FICO 8
Message 7 of 18
Established Member

Re: Spree results : Chase closed one of my CC

So I posted about my Chase double app experience in this post:
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Chase-Sapphire-amp-Freedom-approval/td-p/5523...

That post describes my stats, but mine has been a month later. I still keep wondering if they are just going to up & close mine. How many days in total was it between your application approved and then getting the Disney card closed?
Starting Score: 696
Current Score: 779
Goal Score: 800


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Message 8 of 18
Super Contributor

Re: Spree results : Chase closed one of my CC

Unfortunately this is basically normal with Chase now and is why I strongly recommend anyone and everyone space out Chase apps by 6 months and even longer if you are applying for other cards in the meantime. Applying for 5,6,7+ cards at a time across banks is asking for trouble. They have seen all the blogs etc recommending double dipping and all of these things had become more and more popular so the result is that they aggressively seek to lock out this type of behavior.

 

Score and credit profile are IMO basically totally irrelevant with these situations. It's simply an algorithim that determined you are too agressive in seeking credit/chasing rewards/etc. Your score and profile will not save you, because the decision had nothing to do with creditworthiness and everything to do with aggressive credit seeking and reward chasing. I don't say it to be harsh, just that it can and does happen to anyone at any credit score level.

Message 9 of 18
Super Contributor

Re: Spree results : Chase closed one of my CC

 

As the OP unfortunately discovered Smiley Sad a Chase same-day double app nowadays usually leads to the 2nd card being shut down within a few weeks.

 

The most current strategy with known successful data points, if you are not subject to the Chase 5/24 and 2/30 rules, is to apply for your preferred card and if instantly approved wait and apply for the 2nd card on the very next day.  

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

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Message 10 of 18
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