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Going under 5/24 and how would you organize apps

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Super Contributor

Going under 5/24 and how would you organize apps

In late april I will go from 5/24 to 4/24. Then in May I believe I will drop down to 2/24. I currently hold the following chase cards: CSR, Hyatt, two ink cards, Freedom unlimited and Freedom 5% so six cards total. Looking on the best way to handle my apps. I am going to start with the CIP a business card in May. I also want to pick up the chase ink no AF card. I would want to wait a minimum of one month maybe longer between these apps, because I don't want to be under pressure to meet too much signup spend at once. After the second card I should be at 2/24. By then it should have been over two years since I last got the SUB on my old hyatt card. I would close that hyatt card and reapp for the new version of the hyatt card. Then after that I would be interested in either the united card or IHG card neither of which I have had before. I know its a lot of chase cards but I was thinking about spreading these apps out at least a month apart maybe 1 1/2 to two months apart. I have a long history with chase and currently have open cards with them that are around six years old. Does this plan sound feasible?

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 1 of 15
14 REPLIES 14
Super Contributor

Re: Going under 5/24 and how would you organize apps

Regarding resetting the Hyatt card, I tried that in late 2018, and failed. 

I closed the card, then waited a few weeks.

Reapped the card and was denied because I “already have a Hyatt card”. The reset time was not long enough, Chase had not forgotten it. Others suggested at least 45 days to allow Chase to forget the prior existence.  

 

I called them after the denial, and was able to simply reopen the legacy card as the New Hyatt, same original open date, same account, same limit, just new Hyatt earnings and no bonus.  

 

Overall, the number of accounts you have in potential apps and resets seems like a lot to me. I would space them out even farther, because you will start to get a really large Chase portfolio very quickly. With the scrutiny among all banks recently, this seems to me ( unscientific ) to be risky.  

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
Message 2 of 15
Senior Contributor

Re: Going under 5/24 and how would you organize apps

I'm not sure how Chase determines business card CLs, but my 4th and 5th Chase cards (all personal) both brought my total Chase credit to 50% of my reported (rounded) income.

 

So you might want to request a CLD or three at some point.

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival
Perks: Schwab Platinum, IHG49, Hyatt75, Brilliant, Delta Platinum
Potential closures/downgrades: Savor, BCP, Double Cash
Message 3 of 15
Super Contributor

Re: Going under 5/24 and how would you organize apps


@NRB525 wrote:

Regarding resetting the Hyatt card, I tried that in late 2018, and failed. 

I closed the card, then waited a few weeks.

Reapped the card and was denied because I “already have a Hyatt card”. The reset time was not long enough, Chase had not forgotten it. Others suggested at least 45 days to allow Chase to forget the prior existence.  

 

I called them after the denial, and was able to simply reopen the legacy card as the New Hyatt, same original open date, same account, same limit, just new Hyatt earnings and no bonus.  

 

Overall, the number of accounts you have in potential apps and resets seems like a lot to me. I would space them out even farther, because you will start to get a really large Chase portfolio very quickly. With the scrutiny among all banks recently, this seems to me ( unscientific ) to be risky.  


Hmm the reset timer on the hyatt card is interesting. I'm pretty sure I closed my hyatt card last time and reapped a few days later and did not have an issue like this. I will look back at my records to see. In any event if I follow my plan my hyatt card will have been closed for over 45 days before I reapp for it since I am going for the business cards first.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 4 of 15
Super Contributor

Re: Going under 5/24 and how would you organize apps


@wasCB14 wrote:

I'm not sure how Chase determines business card CLs, but my 4th and 5th Chase cards (all personal) both brought my total Chase credit to 50% of my reported (rounded) income.

 

So you might want to request a CLD or three at some point.


I'm at about 45% of my reported income right now. I know some people advocate not lowering credit limits because chase will reapportion some credit automatically upon approval from other cards. The hyatt card needs to be closed anyway and I have a decent sized credit line on another business card that I don't use. If I really wanted to control where the money comes from I could reduce the credit line on some of my long term credit cards and then just reallocate the credit from the new cards back to them if or when I decide to close those newer cards. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 5 of 15
Established Contributor

Re: Going under 5/24 and how would you organize apps

Give it at least a month between apps and between closing and applying. Also do the business cards first since they don't count towards 5/24.
Message 6 of 15
New Contributor

Re: Going under 5/24 and how would you organize apps

I'd say probably wait at least 2 months between the apps.



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Message 7 of 15
Community Leader
Senior Contributor

Re: Going under 5/24 and how would you organize apps


@red259 wrote:

In late april I will go from 5/24 to 4/24. Then in May I believe I will drop down to 2/24. I currently hold the following chase cards: CSR, Hyatt, two ink cards, Freedom unlimited and Freedom 5% so six cards total. Looking on the best way to handle my apps. I am going to start with the CIP a business card in May. I also want to pick up the chase ink no AF card. I would want to wait a minimum of one month maybe longer between these apps, because I don't want to be under pressure to meet too much signup spend at once. After the second card I should be at 2/24. By then it should have been over two years since I last got the SUB on my old hyatt card. I would close that hyatt card and reapp for the new version of the hyatt card. Then after that I would be interested in either the united card or IHG card neither of which I have had before. I know its a lot of chase cards but I was thinking about spreading these apps out at least a month apart maybe 1 1/2 to two months apart. I have a long history with chase and currently have open cards with them that are around six years old. Does this plan sound feasible?


Out of curiosity, do you have any other cards besides Chase. I only ask because I wonder if your CC portfolio is diverse enough just in case in the future Chase decides to go on a rampage. 

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 8 of 15
Super Contributor

Re: Going under 5/24 and how would you organize apps


@CreditInspired wrote:

@red259 wrote:

In late april I will go from 5/24 to 4/24. Then in May I believe I will drop down to 2/24. I currently hold the following chase cards: CSR, Hyatt, two ink cards, Freedom unlimited and Freedom 5% so six cards total. Looking on the best way to handle my apps. I am going to start with the CIP a business card in May. I also want to pick up the chase ink no AF card. I would want to wait a minimum of one month maybe longer between these apps, because I don't want to be under pressure to meet too much signup spend at once. After the second card I should be at 2/24. By then it should have been over two years since I last got the SUB on my old hyatt card. I would close that hyatt card and reapp for the new version of the hyatt card. Then after that I would be interested in either the united card or IHG card neither of which I have had before. I know its a lot of chase cards but I was thinking about spreading these apps out at least a month apart maybe 1 1/2 to two months apart. I have a long history with chase and currently have open cards with them that are around six years old. Does this plan sound feasible?


Out of curiosity, do you have any other cards besides Chase. I only ask because I wonder if your CC portfolio is diverse enough just in case in the future Chase decides to go on a rampage. 


Yes I have cards with multiple lenders. Many amex cards, a cap 1 card a barclays card or two a citi card. My primary current focus is chase and amex rewards program though. In the future I will reinvest in the citi ty points program, but probably not for another year. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 9 of 15
Community Leader
Super Contributor

Re: Going under 5/24 and how would you organize apps

By color?Smiley Wink
By colour?Smiley Wink
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2022
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Message 10 of 15
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