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Inq sensitivity for Chase

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Valued Contributor

Re: Inq sensitivity for Chase

I just barely slipped in with Chase at 4/24, and then had 4 other new accounts post within 3 months of apping with them. Only because you can't PC BCE to ED, so i had to app for it. NFCU card was added so that I could add Money without too many hoops to jump through.

I would definitely warn against this, I didn't intend for it to line up this way, but things just happend. Luckily they have't taken any AA. Though I imagine if my debt load had increased, they might have.

 

My goal one day, if I can ever get lower than 5/24 again, will be to get the Freedom. Trying to set a goal that by 2020 I have fewer CC, and would like to ditch everything but Amex Gold & ED, Discover, CSP & Freedom, and my local CU. 

 

Message 11 of 16
Super Contributor

Re: Inq sensitivity for Chase


@NRB525 wrote:

How is your current spend allocated? Are you running a lot of spend through the Chase cards you have?

And which Chase cards?

 

Rather than randomizing the four, I would ask which card do you think you will get the most use from?

Are you intending to keep them long term, including AF, or are any viewed as short term?


The CIP would be to keep long term and probably would take the place of the CSR since I only keep that to the ability to transfer points now. It is certainly my highest priority card to get for the signup and ability to transfer points and the cell phone feature.The United cards would be to earn signups. The hyatt cards I tend to keep. 

;
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 12 of 16
Super Contributor

Re: Inq sensitivity for Chase


@redpat wrote:

Agree w/ kdm and others.

 

OP, how many chase cards have you closed post SUB?

 

This seems to be a factor also from other posts regarding shutdowns.

 

2/24 might not matter if you closed six cards and received SUBS then renewing the same card for another SUB.


The only cards with chase I close are co-brand hyatt cards and I had a marriott card once. The hyatt cards I normally keep for two years and then reapp. The rest of the cards I kept and PC to non-AF cards. So I have two old ink cards which I have had for years along with two freedoms one of which is my oldest card (its been open with chase for 6 years) and I have the CSR which I want to replace witht he CIP.

;
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 13 of 16
Super Contributor

Re: Inq sensitivity for Chase

I think regardless of opening/closing histor with Chase cards, one Chase card every 3-6 months is the best advice. From all I have heard, they just aren't fond of multiple recent applications at all these days. You may get lucky and nothing may happen, but some have definitely been shut down. Slower is better with Chase. They really have caught on to excessive credit seeking behavior and aren't shy to take action about it.

 

Most consumers aren't going to open a card more than every 6 months anyway, and almost certainly not with the same bank. Just try to keep in mind that you want to appear as "average" as possible. Don't stick out to an algorithim or you will have an issue.

Message 14 of 16
Super Contributor

Re: Inq sensitivity for Chase

My suggestion would be to get the CIP first, then 6 months or so for the Hyatt, since those are keepers.

I would be concerned about a past pattern of cycling the Hyatt. Future closures of any Chase cards may start to raise issues.

If the United cards are not keepers, are just harvesting bonus, I’d have to weigh how much that bonus is really worth, vs long term Chase card earnings.

I have taken the view that cards I really want are with banks that I do not rock the boat.

If I don’t really care about the bank for long term, then I may be more inclined to app for a bonus knowing there is a high probability the card will be closed in two years. If I am not concerned about a long term relationship with a bank like Barclays then that frees up the apping options. Chase is not one of those banks, for me.
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 15 of 16
Regular Contributor

Re: Inq sensitivity for Chase


@kdm31091 wrote:

I would just be really careful. Things are not how they used to be. Chase has been known lately to shut down newly approved accounts if they feel you are apping too frequently, etc. I would spread out the new openings as much as you can, regardless of 5/24. One new account per month with a bank is a lot. I'd probably wait 3 months in between each to be safe because Chase doesn't play around these days.


I agree with this... It may be in your best interest to consider other options that aren't so, "jumpy"... Why take the risk if you don't have to. And if they do shut you down, all of those hp's will be in vain. Good luck and keep us posted! Smiley Wink

Message 16 of 16
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