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Chase New Account Closure - Can I get it reopened

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Anonymous
Not applicable

Chase New Account Closure - Can I get it reopened

Hello, First post ever on here but have been lurking for a long time.

About a week back I applied for the Hyatt credit card and then the same day I applied for thr IHG card. Both were approved and got about 18k and 20k in line respectively. I called today since I have not received my cards yet and was wondering if I could get the full 16 digit since I am staying at a Holiday Inn this weekend and was hoping I somehow could still use my card this weekend without the phsyical card. Long story short I was told a second review of my account was conducted and they closed my IHG card. Does anyone know if there is any special number I can call to get a third review done? I make 6 figures and my scores are in the 780s so want to plead my case I am not a credit risk to them.
16 REPLIES 16
Anonymous
Not applicable

Re: Chase New Account Closure - Can I get it reopened

Multiple numbers tried and sounds like no luck.  Apparently I wasn't supposed to be able to aply for more than one card in a day.  Sadly with IHG now under 5/24 and I applied for the Hyatt and IHG as my #4 and #5 and then earlier this week got a different card for #6 and I am over the 5/24 for sure.  Wonder how this app approval and then account closure is going to reflect on my credit score (I hope they don't even report the account).  Also not sure if it will count towards my future 5/24 since it was technically opened...

Message 2 of 17
Medic981
Valued Contributor

Re: Chase New Account Closure - Can I get it reopened

Welcome to the myFICO forums!

 

Chase has the 5/24 rule, that applies to certain cards, which is no more than 5 revolving credit accounts opened within a rolling 24 month period and the 2/30 rule which is no more than 2 Chase cards opened within a 30 day period. As these are open secrets, we know about them, however, Chase will not openly acknowledge them. As such, there are many intricacies that are not well known to the credit consuming public. 

 

With this in mind, if you apply for a Chase 5/24 and run afoul of the rule one day, as I understand it, does not mean a day, a week or a month later you can't apply and be approved as long as you meet Chases internal, double super secret, never on a Friday of an odd-numbered month with a full moon credit application criteria. 







Your FICO credit scores are not just numbers, it’s a skill.
Message 3 of 17
bourgogne
Valued Contributor

Re: Chase New Account Closure - Can I get it reopened

hi, chase is great but they can be touchy sometimes and this is one of those times.  if it were me I would dispute the account if/when it shows up and maybe the hp as well if I had success with the account removal but I think you probably own the hp.  this is not like last year when doing multi apps were not an issue, esp if it were a consumer and biz card together.  shame as you seem to be the real deal and the kind of customer they would like to have and your sl's and scores back this up.  your future is i am sure bright with the bank, again if it would me I would put 6 statements past you on the hyatt and then reapply if you wish.  this is esp true if this is your first chase card.

Message 4 of 17
simplynoir
Community Leader
Mega Contributor

Re: Chase New Account Closure - Can I get it reopened


@Medic981 wrote:

Chase has the 5/24 rule, that applies to certain cards


Believe the 5/24 rule applies to ALL Chase cards now. Or at least according to datapoints collected from DoC.

Message 5 of 17
staticvoidmain
Established Contributor

Re: Chase New Account Closure - Can I get it reopened

Based on recent data points, there seems to be a 1/1 rule, one card per day, or they will close the second card. Or is this tied to the 5/24 and 2/30 rule? (When people try to apply same day and go over the rule limit)

Message 6 of 17
FinStar
Moderator Emeritus

Re: Chase New Account Closure - Can I get it reopened

OP, technically since you applied for the account, and were initially approved, the dispute will likely not fly.

Within the application and CCA fine print, there's a clause that allows the lender (legally) to close the account at any point, in this case due to Adverse Action (i.e. secondary UW/audit review).

So, the account will simply reflect on your CRs as 'Closed by Credit Grantor'. Just shrug it off as a lesson learned. Countless threads on this topic in various blogs/forums.
Message 7 of 17
Anonymous
Not applicable

Re: Chase New Account Closure - Can I get it reopened

1/1 - Yes with my data point I would say there is a one-one rule now as well. 

 

Right to close - As for thier right to close that is correct, and though I havn't recieved the NOAA yet in the mail, the rep told me it will state something along the lines of due to the amount of total credit limit with the lending being too high.  

 

Since I havn't figured out how to do a signature yet I will put my stats here (let me know how to set this up).  These are in order of applying and removing the IGH right after the Hyatt card.

Discover It 7 years 1 month $15,200; Chase Freedom 5 years 3 months $7,200; BofA Cash 4 years 6 months $6,500; FNBO 2 years 10 months $4,200; Citi Double 1 year 9 months $11,000; Barclay Uber 1 year $15,000; AMEX Platinum new; Hyatt new $18,700; AMEX Gold new  

 

Their loss - I agree, every credit decision to warn off risk does sometimes have adverse impacts on potential good customers.  Especially since I already had a purchase lined up to meet the sign-up bonus.

 

5/24 - Since all the reports of 5/24 now being used for all card and with me having Citi Double, Uber, Platinum, Hyatt, and Gold now I have blown my 5/24 and don't plan to reapply today like all the agents wanted me to do such.

 

5/24 one open in three months - if you are keen on details you will see I will have an open spot for 5/24 in a few months I could apply for the IGH card then, but I am also planning on buying my first home in late 2019/2020 so I get a little concered about inquiries the closer I get to that event happening.  

 

Sign-up bonus - Since the card was technically opened if I ever down the road do reapply and thoughts on if I will get a second chance at the sign-up bonus?

Message 8 of 17
NRB525
Super Contributor

Re: Chase New Account Closure - Can I get it reopened


@simplynoir wrote:

@Medic981 wrote:

Chase has the 5/24 rule, that applies to certain cards


Believe the 5/24 rule applies to ALL Chase cards now. Or at least according to datapoints collected from DoC.


Ok, then I am glad I did not pursue either Citi AA card or Chase United card. Will use my 4/24 status to cycle my Hyatt card, in the next few weeks, which up until now looked like a "extra".

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 9 of 17
FinStar
Moderator Emeritus

Re: Chase New Account Closure - Can I get it reopened

Based on recent DPs (Reddit, DoC, etc.) the IHG card appears to be considered part of the 5/24 restriction. So, even if you apply again in the next 90 days, it'll likely to be denied, but YEMV. The opening/AA closure of you IHG account will count toward 5/24.

Folks often perceive it as the lender's loss when in all reality it isn't, whether you would meet the spending for the SUB or not. They can afford to be selective. On the upside, your Hyatt card was not shutdown so be glad it remained open... given the double-app you submitted.

Potentially, beyond the 24 month boundary, if you were to apply again, it's possible that you could qualify for the SUB since technically it wasn't collected or redeemed due to AA. In other words, your plane never got off the ground. You'd need to check at that point depending on what rules or restrictions may apply in the future
Message 10 of 17
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