New Chase Recon Policy?

[Anonymous]

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@Anonymous wrote:

I applied for the Freedom yesterday and received the pending message. I applied for the IHG card shortly after and was instantly approved. When I called recon, I was told that my Freedom app was denied for too many new accounts in the past 2 years. I called again later and was told the same thing. Both times I attempted to shift credit from the IHG or CSP but they said they couldn't do that, and in fact there's nothing they could do to overturn an app that was denied for too many new accounts opened (new policy). I looked around on Reddit and FT and it looks like the same thing has been happening to several people over the past week. Some are reporting the limit is 5 new accounts in 2 years, and that it only applies for Chase's own cards and not co-branded ones. That would explain why I was able to get the IHG but no luck with the Freedom. Note that # of inquiries doesn't seem to be the issue, it's specifically the number of new accounts opened. Anyway, I'm just wondering if anyone has further data points or can report an experience to the contrary. 

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I was approved for the Freedom on recon four days ago, with seven new accounts in the last two years. I think that's just a new excuse added to their crib sheet.

[LuckyBird]

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@Anonymous wrote:

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@LuckyBird wrote:

hmmmm....this may explain why my pre-qual for CSP and Slate disappeared...

I opened a Freedom last summer.  Actually went on a spree and opened 5 or 6 new accounts last summer, since I'd been pretty inactive credit-wise for several years and only had a couple of cards that I wasn't really using.  The I opened a couple more in the fall and a couple more over the winter.  I ended up closing some of those accounts and a couple of old ones.  Not really sure how many accounts I've opened in total in the last year, but probably in the neighborhood of 10 or 11.

I check the pre-quals periodically just out of curiousity and have always (since last summer) had a pre-qual for those 2 Chase cards, but about 2 or 3 weeks ago they disappeared and it shows NOTHING for me.  My scores are appreciably higher now than when I got the Freedom, I only carry one small balance at 0% for utilization of ~5%, use the Freedom (as well as other accts) fairly regularly and always PIF.  Nothing but positive changes on my CR since I got it.

HMMM....

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Same thing happened to me, my pre-quals disappeared soon after the 5th card started reporting. They actually auto-increased my CLI for the CSP, so I was pretty surprised.

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I only have the one Chase card.  Most of my new accounts were last June-September (including the Freedom).  Then I opened 1 in October, 1 in December, and 1 in January. 

Pre-quals were there through all of this.  Just disappeared about 2 weeks ago.

[Anonymous]

I think if there was a change, it was very recent. At least I got one card out of it, hopefully they'll combine HPs.

[taxi818]

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@Anonymous wrote:

I applied for the Freedom yesterday and received the pending message. I applied for the IHG card shortly after and was instantly approved. When I called recon, I was told that my Freedom app was denied for too many new accounts in the past 2 years. I called again later and was told the same thing. Both times I attempted to shift credit from the IHG or CSP but they said they couldn't do that, and in fact there's nothing they could do to overturn an app that was denied for too many new accounts opened (new policy). I looked around on Reddit and FT and it looks like the same thing has been happening to several people over the past week. Some are reporting the limit is 5 new accounts in 2 years, and that it only applies for Chase's own cards and not co-branded ones. That would explain why I was able to get the IHG but no luck with the Freedom. Note that # of inquiries doesn't seem to be the issue, it's specifically the number of new accounts opened. Anyway, I'm just wondering if anyone has further data points or can report an experience to the contrary. 

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They must have just started this as i got my freedom a month ago. and i know i opened at least 18 accounts in the last 2 years. hmm. im not going for any more chase cards anytime soon anyway. im just shocked.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I applied for the Freedom yesterday and received the pending message. I applied for the IHG card shortly after and was instantly approved. When I called recon, I was told that my Freedom app was denied for too many new accounts in the past 2 years. I called again later and was told the same thing. Both times I attempted to shift credit from the IHG or CSP but they said they couldn't do that, and in fact there's nothing they could do to overturn an app that was denied for too many new accounts opened (new policy). I looked around on Reddit and FT and it looks like the same thing has been happening to several people over the past week. Some are reporting the limit is 5 new accounts in 2 years, and that it only applies for Chase's own cards and not co-branded ones. That would explain why I was able to get the IHG but no luck with the Freedom. Note that # of inquiries doesn't seem to be the issue, it's specifically the number of new accounts opened. Anyway, I'm just wondering if anyone has further data points or can report an experience to the contrary. 

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I was approved for the Freedom on recon four days ago, with seven new accounts in the last two years. I think that's just a new excuse added to their crib sheet.

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I honestly don't believe this is an excuse for them otherwise there'd be more data points of successful recons. You are the only person on MyFICO, Flyertalk and Reddit reporting that you've successfully gotten past this new policy. I've read through every discussion I can find on this topic and you are the only example of a non-cobranded card. No one else has reported success with more than 5 accounts on a Freedom/CSP/Ink denial.

The only thing that I've seen that's different from your profile to everyone else's is that you don't have a card that woulld allow you to transfer those UR points. Virtually all other data points are for CSP/Ink cards OR people applying for a Freedom who already had a CSP/Ink.

[Bman70]

IDK, Chase has always picked a reason to highlight, when in fact the entire profile goes into the decision. 2 years seems like a long time frame for them to go back. It seems like one of those rules that is enforced if you have a certain profile, but let slide if you're above a certain score. They don't necessarily share that though.

But we're bound to have someone on the forum who got a Freedom in the last few days, and has more than 5 accounts. Come on, Freedom has always been the app spree favorite. :-D

I have 4 new accounts in the past year, and have been eyeing that Freedom $200. Discover hasn't reported yet (approved on Monday), so that makes 3 new accounts. Maybe I should apply before it reports. 

[B335is]

Chase reconsideration certainly seems to have changed its tone recently. I've had good results just waiting out a pending application rather than calling in for immediate review.

[Anonymous]

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@B335is wrote:
Chase reconsideration certainly seems to have changed its tone recently. I've had good results just waiting out a pending application rather than calling in for immediate review.

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This is my philosophy as well. Given that they are clearly attempting to identify bonus seekers, I feel like calling as soon it goes to pending would only make them more suspicious.

[Anonymous]

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@Bman70 wrote:

IDK, Chase has always picked a reason to highlight, when in fact the entire profile goes into the decision. 2 years seems like a long time frame for them to go back. It seems like one of those rules that is enforced if you have a certain profile, but let slide if you're above a certain score. They don't necessarily share that though.

But we're bound to have someone on the forum who got a Freedom in the last few days, and has more than 5 accounts. Come on, Freedom has always been the app spree favorite. :-D

I have 4 new accounts in the past year, and have been eyeing that Freedom $200. Discover hasn't reported yet (approved on Monday), so that makes 3 new accounts. Maybe I should apply before it reports. 

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Are you prequalified for it?

[Bman70]

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@Anonymous wrote:

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@Bman70 wrote:

IDK, Chase has always picked a reason to highlight, when in fact the entire profile goes into the decision. 2 years seems like a long time frame for them to go back. It seems like one of those rules that is enforced if you have a certain profile, but let slide if you're above a certain score. They don't necessarily share that though.

But we're bound to have someone on the forum who got a Freedom in the last few days, and has more than 5 accounts. Come on, Freedom has always been the app spree favorite. :-D

I have 4 new accounts in the past year, and have been eyeing that Freedom $200. Discover hasn't reported yet (approved on Monday), so that makes 3 new accounts. Maybe I should apply before it reports. 

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Are you prequalified for it?

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I was a while back.. Checking again now.