cancel
Showing results for 
Search instead for 
Did you mean: 

12 New accounts in 2 months. Will chase or any bank take AA?

tag
josian10
Member

12 New accounts in 2 months. Will chase or any bank take AA?

When I started with Navy Fed I was only preapproved for the secured card, opened up 3 pledge loans and direct deposit of a couple thousand. Checked the prequal last night and was pre approved for all their cards even after going on an application spree and getting multiple Amex cards, the GM rewards, Discover IT cash back, Chase freedom flex and unlimited (was over 5/24 and got denied because of overdrawn charges but called in and was approved after verifying some info) and the X1 credit card invite finally came through so I applied and got approved after sending in bank statements. I was approved for the Navy Fed Flagship for $18k.

 

I joined on January 29, don’t even have 3 full months with NFCU. Also got approved for CLOC

 

Just turned 20 in December and I’m liking where my progress is going so far. But my goal since the start has been to get as many lines opened now so I can just enter the garden and have them age 2 years and increase my score and credit worthiness so when the time comes for me to really need credit it won't be a problem. I was at 4/24 and was waiting for my credit profile to get more attractive before getting the freedom flex but the temptation for the AMEX gold got to me and I got it. I read somewhere that if it hadn’t been reported on my credit report then I was in the clear to get the chase card still. I was waiting to get the freedom flex before I applied for more cards so after I got denied for it I thought the Amex gold card must’ve finally showed up on my report and got denied because I was over 5/24, I looked on the reason for denial and showed that it was due to the service fee on my checking account made it overdrawn. Called and told them that my account was positive and they reviewed it and got approved for it. I applied for the freedom unlimited and got the same reason for denial. Called and got approved. These cards got me at 7/24. I applied for the Amazon visa and got the same reason for denial, I called and got second denial which didn’t surprise me, I got 3 cards with them in just 6 months, the CSP in August and the Flex and Unlimited the same day two days earlier. They just said they couldn’t extend more credit since I’ve opened too many accounts in the past 6 months.

 

Since I was approved for the chase trifecta I applied for a lot of the cards on my list and got approved. My plan is to enter the garden for the next year and a half to two years now that I have the main chase cards plenty of medium to high limit ones and age these babies up.

 

Was surprised at being approved for the chase cards but that might help someone waiting to be under 5/24. Call and explain yourself, if your reason for denial does not say too many accounts opened in the past 24 months. Call and you have a high chance of getting approved if you go in with a plan on the reason why you want the card, I messed that part up when I called for the Amazon visa with chase because I didn’t have a specific reason to have it the guy didn’t seem convinced, I called again and other analysts after seeing reason for second denial by the first analyst we’re sticking with the decision. So the first time is the charm here, you only have one shot, it’ll get much harder to convince the other analysts if the first one denies you for a valid reason. But I still would’ve been denied either way since I had relatively opened a lot of cards with them in 6 months.

 

Keep in mind that although on my report it might not say I'm over 5/24 chase knows that since they're the bank that approved me for the freedom flex. So I got approved for the freedom unlimited even being at 6/24 because when I got the flex the Amex gold hadn't shown up yet, when I applied for the unlimited a day later it was on there. 

 

I have 9 new credit card accounts that will report as new accounts in a month or two, Ik it will impact my average age dramatically but my over all credit limit that will report will be almost $50k (I don’t count the X1 into that since supposedly it hasn’t reported to the bureaus since it began approving people.)

 

That being said my questions are these, was I too aggressive? Did I get too many cards at once? Will AMEX or Chase or any other bank soft pull me even if I freeze all of my accounts and take an adverse action against the card I currently have and the ones I was just approved for?

 

I now have 14 credit cards that will report 168 on time payments in the next 12 months with a CL of $47k. $65k if X1 ever begins reporting to Bureaus. 3 pledge loans that will be payed off in 6 months. Now that I have entered the garden I was planning on taking out a larger pledge loan of $5k-$10k in 6 months and pay down 90% then pay the rest off over a year term. Any thoughts on that?

 

Should I add 1 or 2 AU’s with many years of history to try and alleviate the impact to my average age? It’s only 6 months rn because of the AMEX gold that just reported. Idk if new accounts or credit age will trigger the AAs. Or am I fine and should leave it alone and stop adding new accounts all together.

 

I was sure I thought everything through but kind of second guessing myself now that I’ve gotten everything approved and looking at all of it from afar. Did I make the right moves? Am in the right spot for the next 2 years? Was all this a mistake and will drop my score dramatically for no reason and get shut down left and right? Been taking care of my credit just to make this move and enter the garden. Need opinions and advice. Thank you 🙏🏼

73 REPLIES 73
josian10
Member

Re: 12 New accounts in 2 months. Will chase or any bank take AA?

I apologize for the extremely long explanation, I wanted to be thorough and give y'all context. And sorry for the unnecessary advice about the chase cards and approval, should've made another thread instead of extending this one even further. 

Message 2 of 74
CYBERSAM
Senior Contributor

Re: 12 New accounts in 2 months. Will chase or any bank take AA?

Is April 1st here already? 🤡😂

 

Normally congrats would be in order, but in your case holy smokes is more fitting!

 

I think your main focus should be saving these accounts from getting closed! Having only 47K on 14 CCs you may want to AZEO for next few months! Your score is going drop significantly once they all report and that could spook some creditors!

 

Regardless of how many CCs you end up with, is best to garden for at least 2 years for someone in your predicament till everything settle down after app spree such as yours!

Best of luck! 👍







                
Message 3 of 74
josian10
Member

Re: 12 New accounts in 2 months. Will chase or any bank take AA?


@CYBERSAM wrote:

Is April 1st here already? 🤡😂

 

Normally congrats would be in order, but in your case holy smokes is more fitting!

 

I think your main focus should be saving these accounts from getting closed! Having only 47K on 14 CCs you may want to AZEO for next few months! Your score is going drop significantly once they all report and that could spook some creditors!

 

Regardless of how many CCs you end up with, is best to garden for at least 2 years for someone in your predicament till everything settle down after app spree such as yours!

Best of luck! 👍



Would I not just be able to close a few accounts before they hit my report? Or will it still report as new opened account then show as a closed account?

Message 4 of 74
tcbofade
Super Contributor

Re: 12 New accounts in 2 months. Will chase or any bank take AA?

That's a lot.

 

No, closing the accounts won't stop them from reporting.  They will still report as accounts that you opened.

 

I'm not worried about Navy Federal or Capital One... I think that you are OK there.

 

Chase may or may not close a few of those accounts for you.  We've seen it happen, but that doesn't mean that it WILL.

 

It could.

 

Settle down.

 

No inquiries for the next year or so.

 

Good luck!

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 5 of 74
josian10
Member

Re: 12 New accounts in 2 months. Will chase or any bank take AA?


@tcbofade wrote:

That's a lot.

 

No, closing the accounts won't stop them from reporting.  They will still report as accounts that you opened.

 

I'm not worried about Navy Federal or Capital One... I think that you are OK there.

 

Chase may or may not close a few of those accounts for you.  We've seen it happen, but that doesn't mean that it WILL.

 

It could.

 

Settle down.

 

No inquiries for the next year or so.

 

Good luck!



Yea chase is the one I'm worried about, they're the bank I have the most cards with and would hate to lose them. 

 

Definitely not applying for anything else, I'm hoping in a year this will pay off. But never doing this again, didn't even think of what a bank might think after opening so many new accounts all at once. I don't care for getting denied for a card since I don't plan on applying for anything else. Just worried about losing the relationships I just acquired. 

I'll update in a few months if nothing has changed with the banks, and I'll update if I had any AA's. Fingers crossed. 🤞🏼

Thank you!

Message 6 of 74
SouthJamaica
Mega Contributor

Re: 12 New accounts in 2 months. Will chase or any bank take AA?


@josian10 wrote:

Yea chase is the one I'm worried about, they're the bank I have the most cards with and would hate to lose them. 

 

Definitely not applying for anything else, I'm hoping in a year this will pay off. But never doing this again, didn't even think of what a bank might think after opening so many new accounts all at once. I don't care for getting denied for a card since I don't plan on applying for anything else. Just worried about losing the relationships I just acquired. 

I'll update in a few months if nothing has changed with the banks, and I'll update if I had any AA's. Fingers crossed. 🤞🏼

Thank you!


Chase is the one most likely to take adverse action.

 

In any event, what's done is done.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 7 of 74
OmarGB9
Community Leader
Super Contributor

Re: 12 New accounts in 2 months. Will chase or any bank take AA?

Yes, I think you were a bit aggressive. 12 new accounts in 2 months with a thin file is pretty excessive, IMO. On a thick, well-aged file, they may get away with it, but in this case, I don't know. Chase is known to SP your reports for a few months after approving you to keep tabs on you and see if you're seeking credit excessively (which this would definitely qualify as, in their eyes) and can CLD/shut you down completely. I hope for your sake they don't, but who knows. Good luck.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 8 of 74
Kforce
Valued Contributor

Re: 12 New accounts in 2 months. Will chase or any bank take AA?


@OmarGB9 wrote:

Yes, I think you were a bit aggressive. 12 new accounts in 2 months with a thin file is pretty excessive, IMO. On a thick, well-aged file, they may get away with it, but in this case, I don't know. Chase is known to SP your reports for a few months after approving you to keep tabs on you and see if you're seeking credit excessively (which this would definitely qualify as, in their eyes) and can CLD/shut you down completely. I hope for your sake they don't, but who knows. Good luck.


^^^ This

Message 9 of 74
AverageJoesCredit
Legendary Contributor

Re: 12 New accounts in 2 months. Will chase or any bank take AA?


@josian10 wrote:

When I started with Navy Fed I was only preapproved for the secured card, opened up 3 pledge loans and direct deposit of a couple thousand. Checked the prequal last night and was pre approved for all their cards even after going on an application spree and getting multiple Amex cards, the GM rewards, Discover IT cash back, Chase freedom flex and unlimited (was over 5/24 and got denied because of overdrawn charges but called in and was approved after verifying some info) and the X1 credit card invite finally came through so I applied and got approved after sending in bank statements. I was approved for the Navy Fed Flagship for $18k.

 

I joined on January 29, don’t even have 3 full months with NFCU. Also got approved for CLOC

 

Just turned 20 in December and I’m liking where my progress is going so far. But my goal since the start has been to get as many lines opened now so I can just enter the garden and have them age 2 years and increase my score and credit worthiness so when the time comes for me to really need credit it won't be a problem. I was at 4/24 and was waiting for my credit profile to get more attractive before getting the freedom flex but the temptation for the AMEX gold got to me and I got it. I read somewhere that if it hadn’t been reported on my credit report then I was in the clear to get the chase card still. I was waiting to get the freedom flex before I applied for more cards so after I got denied for it I thought the Amex gold card must’ve finally showed up on my report and got denied because I was over 5/24, I looked on the reason for denial and showed that it was due to the service fee on my checking account made it overdrawn. Called and told them that my account was positive and they reviewed it and got approved for it. I applied for the freedom unlimited and got the same reason for denial. Called and got approved. These cards got me at 7/24. I applied for the Amazon visa and got the same reason for denial, I called and got second denial which didn’t surprise me, I got 3 cards with them in just 6 months, the CSP in August and the Flex and Unlimited the same day two days earlier. They just said they couldn’t extend more credit since I’ve opened too many accounts in the past 6 months.

 

Since I was approved for the chase trifecta I applied for a lot of the cards on my list and got approved. My plan is to enter the garden for the next year and a half to two years now that I have the main chase cards plenty of medium to high limit ones and age these babies up.

 

Was surprised at being approved for the chase cards but that might help someone waiting to be under 5/24. Call and explain yourself, if your reason for denial does not say too many accounts opened in the past 24 months. Call and you have a high chance of getting approved if you go in with a plan on the reason why you want the card, I messed that part up when I called for the Amazon visa with chase because I didn’t have a specific reason to have it the guy didn’t seem convinced, I called again and other analysts after seeing reason for second denial by the first analyst we’re sticking with the decision. So the first time is the charm here, you only have one shot, it’ll get much harder to convince the other analysts if the first one denies you for a valid reason. But I still would’ve been denied either way since I had relatively opened a lot of cards with them in 6 months.

 

Keep in mind that although on my report it might not say I'm over 5/24 chase knows that since they're the bank that approved me for the freedom flex. So I got approved for the freedom unlimited even being at 6/24 because when I got the flex the Amex gold hadn't shown up yet, when I applied for the unlimited a day later it was on there. 

 

I have 9 new credit card accounts that will report as new accounts in a month or two, Ik it will impact my average age dramatically but my over all credit limit that will report will be almost $50k (I don’t count the X1 into that since supposedly it hasn’t reported to the bureaus since it began approving people.)

 

That being said my questions are these, was I too aggressive? Did I get too many cards at once? Will AMEX or Chase or any other bank soft pull me even if I freeze all of my accounts and take an adverse action against the card I currently have and the ones I was just approved for?

 

I now have 14 credit cards that will report 168 on time payments in the next 12 months with a CL of $47k. $65k if X1 ever begins reporting to Bureaus. 3 pledge loans that will be payed off in 6 months. Now that I have entered the garden I was planning on taking out a larger pledge loan of $5k-$10k in 6 months and pay down 90% then pay the rest off over a year term. Any thoughts on that?

 

Should I add 1 or 2 AU’s with many years of history to try and alleviate the impact to my average age? It’s only 6 months rn because of the AMEX gold that just reported. Idk if new accounts or credit age will trigger the AAs. Or am I fine and should leave it alone and stop adding new accounts all together.

 

I was sure I thought everything through but kind of second guessing myself now that I’ve gotten everything approved and looking at all of it from afar. Did I make the right moves? Am in the right spot for the next 2 years? Was all this a mistake and will drop my score dramatically for no reason and get shut down left and right? Been taking care of my credit just to make this move and enter the garden. Need opinions and advice. Thank you 🙏🏼


I'm actually impressed with the amount of approvals in the time frame given, the quality of the cards, and at only 20yo. Getting a Navy FS at 18k is also very impressive considering many more seasoned profiles do not.  I'm going to venture you have an adequate income that may have helped in some of these approvals. Aggressive yes, lucky maybe, but if these stick, what a way to build your profile. Bravo Zulu Smiley Happy

Message 10 of 74
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.