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Should i be worried about Chase shutdown?

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orestrus
Frequent Contributor

Should i be worried about Chase shutdown?

Hi all! Today i was approved for Chase Aeroplan with $10k limit. My AAOA ~ 5 years, no derogs, ~ 8% util & 740 Experian. After gardening for a few years i decided to apply for few new cc's. 6 months ago i got barclays (my biggest regret) with toy limit, Calital One and Chade Freedom.  6 months later applied for Venture and Chase. Both approved. In my situation i got 5/24, but 5 cards in the last 6 months. Obviously no more applications. Should i be worried about Chase? Read a few scary stories here that they like to shut down new and existing cards if they see too many new cards. Appreciate all feedback!

BofA 5k, Cap 1 Journey 300, Cap 1 QS1 300, Walmart 6k,
Amex BCE 2000, Amex PRG, Amex Delta Gold 2k, Macy's 5k, Bloomies 6k, Amazon 6k, JCP 5k Macy's Amex 1.5k,
Message 1 of 7
6 REPLIES 6
simplynoir
Community Leader
Mega Contributor

Re: Should i be worried about Chase shutdown?

As long as you do not apply for anymore new cards and let things settle down you should be fine. Keep the utilization under control, pay your bills on time, and let your recent accounts age up and you will be good to go

Message 2 of 7
orestrus
Frequent Contributor

Re: Should i be worried about Chase shutdown?

u made my day🙏🙏 Thank you💪💪
BofA 5k, Cap 1 Journey 300, Cap 1 QS1 300, Walmart 6k,
Amex BCE 2000, Amex PRG, Amex Delta Gold 2k, Macy's 5k, Bloomies 6k, Amazon 6k, JCP 5k Macy's Amex 1.5k,
Message 3 of 7
SouthJamaica
Mega Contributor

Re: Should i be worried about Chase shutdown?


@orestrus wrote:

Hi all! Today i was approved for Chase Aeroplan with $10k limit. My AAOA ~ 5 years, no derogs, ~ 8% util & 740 Experian. After gardening for a few years i decided to apply for few new cc's. 6 months ago i got barclays (my biggest regret) with toy limit, Calital One and Chade Freedom.  6 months later applied for Venture and Chase. Both approved. In my situation i got 5/24, but 5 cards in the last 6 months. Obviously no more applications. Should i be worried about Chase? Read a few scary stories here that they like to shut down new and existing cards if they see too many new cards. Appreciate all feedback!


I don't think your credit card acquisitions are so numerous that they would trigger a closing of your accounts.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 687

Message 4 of 7
Fairpayment
New Member

Re: Should i be worried about Chase shutdown?

Any update? 

Message 5 of 7
SouthJamaica
Mega Contributor

Re: Should i be worried about Chase shutdown?


@orestrus wrote:

Hi all! Today i was approved for Chase Aeroplan with $10k limit. My AAOA ~ 5 years, no derogs, ~ 8% util & 740 Experian. After gardening for a few years i decided to apply for few new cc's. 6 months ago i got barclays (my biggest regret) with toy limit, Calital One and Chade Freedom.  6 months later applied for Venture and Chase. Both approved. In my situation i got 5/24, but 5 cards in the last 6 months. Obviously no more applications. Should i be worried about Chase? Read a few scary stories here that they like to shut down new and existing cards if they see too many new cards. Appreciate all feedback!


I don't think Chase will view it as so excessive that they would feel the need to claw back your Chase accounts.  But yeah, you should stop for awhile.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 687

Message 6 of 7
Fairpayment
New Member

Re: Should i be worried about Chase shutdown?

It's April now, any updates so far? I also have 5 new accounts opened within the last 6 months, that includes 2 chase cards. Please update lol

Message 7 of 7
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