How will the anticipated Chase 5/24 change your app strategy

[Anonymous]

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@creditguy wrote:
While Chase can certainly do as they wish, so can customers, and I predict they will give other banks their business and chase will regret implementation of 5/24 for all cards. There's being conservative and there's being ridiculous and 5/24 for all cards is fairly unrealistic and ridiculous.

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creditguy, I totally understand your perspective as I also have applied for a number of CC accounts over the past year, but I think that we are often in an echo chamber on this forum wherein we believe that our activities and priorities match those of the broader market. The truth is that most consumers have a couple of credit cards at any one time (check the Gallup numbers on this). Five credit cards in total is outside the norm for most people, so 5 in 24 months would not be restrictive for the vast majority of CC customers. Let us also not forget that Chase has been doing this on their Bank cards and if it was hurting their profitability, it is unlikely that they would be extending the policy.

[Anonymous]

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@Kevin86475391 wrote:

If Chase ever made a non-travel card sort of like the CSP with points/cash back toward resturants I'd snap it up, but the current CSP doesn't interest me.

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Isn't the Chase AARP card 3% straight Cashback at restaurants? 

[CreditCuriosity]

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@Anonymous wrote:

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@Kevin86475391 wrote:

If Chase ever made a non-travel card sort of like the CSP with points/cash back toward resturants I'd snap it up, but the current CSP doesn't interest me.

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Isn't the Chase AARP card 3% straight Cashback at restaurants? 

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Yes and gas

[Anonymous]

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@CreditCuriousity wrote:

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@Anonymous wrote:

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@Kevin86475391 wrote:

If Chase ever made a non-travel card sort of like the CSP with points/cash back toward resturants I'd snap it up, but the current CSP doesn't interest me.

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Isn't the Chase AARP card 3% straight Cashback at restaurants? 

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Yes and gas

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omg I love that card - unlimited too and 0 annual fee

[Themanwhocan]

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@Anonymous wrote:

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@Kevin86475391 wrote:

If Chase ever made a non-travel card sort of like the CSP with points/cash back toward resturants I'd snap it up, but the current CSP doesn't interest me.

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Isn't the Chase AARP card 3% straight Cashback at restaurants? 

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Yes, it is one of seven cards on my Restaurant chart that give 3% on Restaurants, with an eighth (Security Service) giving 3.3% .

Of course thats ignoring the US Bank Cash+ with 5% fast food restaurants and 2% other restaurants.

So, there are alternatives. 

[Open123]

Before the rumored ful 5/24 implementation in April, I plan on 2 more Chase Apps.  Without a doubt, the first will be approved, but curious about the second.

[Themanwhocan]

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@Open123 wrote:

Before the rumored ful 5/24 implementation in April, I plan on 2 more Chase Apps.  Without a doubt, the first will be approved, but curious about the second.

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I applied for AARP and Disney in December, both were approved. And I was just approved this week for the United MileagePlus Explorer card, in spite of 8 new cards in the past 6 months. So there is hope. At least until the rules of the universe change...

[Anonymous]

So i'm assuming if you wanna get more chase cards best to do it before April 5/24 rule kicks in for all Chase cards even co-branded? If so I wanna get Marriot and Southwest. How long to wait between apps? I know you can double app but for me it seems like I only get approved for one out of the 2 from past experiance.

[Open123]

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@Anonymous wrote:

So i'm assuming if you wanna get more chase cards best to do it before April 5/24 rule kicks in for all Chase cards even co-branded? If so I wanna get Marriot and Southwest. How long to wait between apps? I know you can double app but for me it seems like I only get approved for one out of the 2 from past experiance.

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While I'm uncertain where the rumor originated from, these rumors tend to be accurate, more often than not.  So, to be safe, it's probably prudent to App before April.  I'd say, leave at least 11 days between Apps?

[red259]

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@Anonymous wrote:

So i'm assuming if you wanna get more chase cards best to do it before April 5/24 rule kicks in for all Chase cards even co-branded? If so I wanna get Marriot and Southwest. How long to wait between apps? I know you can double app but for me it seems like I only get approved for one out of the 2 from past experiance.

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Dunno how long you should wait between apps, but I would app for whatever you want in march and keep in mind there is a backlog in apps so you may be better off pulling the trigger sooner than later. Not sure what will happen to people who app before the change but have a decision pending when the changeover in policy occurs on co-brands.