New Chase Recon Policy?

[Anonymous]

I'll bite.  Here's a data point.

My personal file at the time of the app.  6 new cards reporting.

BoA 02-2014

Amex 05-2014

Cap 1 12-2014

Sallie Mae 1-2015

BoA BBR 01-2015

Chase AARP 01-2015

2 AU cards, one from 1996, one from 2012.  Flawless payment history, ~$10,000 through credit cards per year (probably closer to $14,000).  Overall 3.1 years AAoA at the time of the app.

Denied for 6 new accounts in 2 years.

I understand that Chase doesn't weight AU accounts very highly in their internal scoring method.  That could be a reason I was denied when some people with more new accounts over the last 2 years were approved.

[Anonymous]

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@JSS3 wrote:

@Got the AARP @2000/ 16.24%. Instant approval. Double pull.

Last 2 years:

15 TU inqs. 756 FICO
20 EX inqs. 730 FICO

23 accounts(waiting on 2 more to report. So 21 at time of app).

3rd Chase account(Amazon, Slate, AARP)

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Congrats on the approval but the AARP is a co branded card which according to what people are saying are not affected by this new policy.

[JSS3]

@Random83 asked for more data points on cobranded cards.

[vanillabean]

With the exception of the Freedom and the CSP that DW and I respectively got half a year ago, we have enjoyed the quiet life in the garden club of credit cards for nearly five years. We have no need and no want for any more cards, Chase or non-Chase, in the foreseeable future. Why would anyone want as many as five cards in two years? It's not like we're playing poker or anything like that and need a full deck, is it?

[Anonymous]

In the name of science, I suppose I will join. I feel a lot better after reading this.

I applied for the Chase Slate today, got denied. Tried to recon twice, they didn't give me the light of day. On my third try, the guy had more of a conversation with me, asked me why I wanted the card, etc. He said he would look into it, put me on hold, and after 4 minutes politely said why he just couldn't do it and tried to explain why.

I got the "over 5 accounts opened in the last 2 years" speech as well. Two were with Chase, the Amazon and the Freedom. I cancelled the Freedom when I got the Amazon, which I still have. I was planning to hit the garden for the next two years while I finish school, but I was hoping to get my foot further in the door with Chase before that in case something like this happened and they started turning everyone down.

Anyways, my AAoA is probably somewhere around a year.

Util: Under 5%

My Scores range between 705-725.

(I don't have anything more precise, but this is the ballpark for what I've got)

Between 8/13 and 6/15, 7 new accounts, two of which were cancelled.

Hope this helps the cause.

[CreditCuriosity]

Still wonder if this is mainly for their cards or co-branded cards as well.. Need more data still....Have all their cards I want now, it is the co-branded ones I would like in the future!

[Imperfectfuture]

Data points noted in mia25 approval thread, is the number of cards closed. The difference between those with approvals, multiple chase cards, and some opened within the last two years. Captool took note in that thread as well (if memory still serves).

Don't close the Chase cards until after a year. They are focusing more on churning, than actual accounts opened. Several recent chase approval threads bear this out.

Mia was questioned re closure of card and why.

[kkapdolee]

Are airline cards like Chase United and Chase Southwest considered co-branded cards or Chase cards?

[Imperfectfuture]

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@kkapdolee wrote:

Are airline cards like Chase United and Chase Southwest considered co-branded cards or Chase cards?

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Co branded.

[Anonymous]

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@CreditCuriousity wrote:

Still wonder if this is mainly for their cards or co-branded cards as well.. Need more data still....Have all their cards I want now, it is the co-branded ones I would like in the future!

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Not sure why there would be any confusion on this point still. There are TONS of data points about this new policy on other sites and the irreversible decision has been for their cards - Freedom, CSP, Ink and apparently now Slate. I heard someone mention Slate earlier but I hadn't seen someone mention a denial for "too many new accounts in the last 2 years" reason with that card in particular until On_My116's post.

If this is a churning issue like many of us believe, then I don't get why Slate would be a problem. Maybe it was just easier to program those automatic denials on all their own CC products instead of creating an exception. 

I think you'll be good to go with with co-branded cards with more open accounts than their current limit of 5. Standard denial reasons still apply for them of course, but at least you'll have a potentially winnable recon with them.