Well, got my first denial. And it sucks...

[longtimelurker]

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@Kb109 wrote:

By loyal I meant that I used their products over others. Like most of my travel spend was on my CSP. I think I have a right to be pissed off. They know that I am a very low risk customer.

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Right, but all part of the credit card game.   My most recent experience: applying for the Discover IT, getting DOUBLE pulled (EX,EQ) and then getting rejected because I hadn't had my Discover Miles card long enough, something which a) a rep told me before I applied didn't matter, and b) they knew the date of my card and didn't need to do any pulls.    Annoying, but I didn't get TOO pissed.  (After sending two anonymous death threats I felt better).

[Kb109]

icyhot, I get that. I just needed to vent.

[LuckyBird]

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@longtimelurker wrote:

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@Kb109 wrote:

4 in the last two years, which includes my mortgage. So three credit cards and one mortgage in two years. Freaking insane. I'm closing my Chase checking account and moving it over to my credit union where I keep my savings account. If this is how they want to treat a long-time loyal customer, I will take my money elsewhere. I'll keep my CSP and Ink open for the benefit of my average age of accounts.

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Moving the checking may well be a good move, but you are taking this way too personally.   It's just an automatic risk evaluation algorithm, and not a judgement on your goodness as a person.

And, my pet peeve, you aren't apparently a "loyal" customer, merely a long-standing one.   Loyal customers stick by their companies even when being screwed!

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I have to disagree.  I'm with the OP on this one. 

Loyal customers stick by their companies UNTIL they get screwed.  And then, all bets are off. 

If they're not going to consider and give some weight to your loyalty up to that point when making new credit decisions, why should they continue to benefit from it afterwards?  There should be room for underwriting exceptions in cases like this.  I'd take my money and credit card business elsewhere, too.

[icyhot]

Ah ok. Understandable

[kdm31091]

It very well may be due to the recent tightening up. Of course you can call and recon, but you're more than likely going to get a $500 Freedom if anything. 4 accounts in 2 years is unfortunately right around the new limits they have imposed.

You can always wait and try again later. Really, that's about all you can do if recon fails (and you may want to avoid getting a $500 Freedom because Chase isn't known for CLIs).

Also - you mentioned "keeping other Chase accounts open for AAOA". This is not true per se. Closing the accounts won't do anything to your AAOA for 10 years, by which point your newer accounts have aged anyway. AAOA is not instantly killed by closing accounts.

Denials happen. It's a fact of life. I think it's a bit premature to say "omg I'm taking my money away from them!" but you do what you feel is right. Just realize no lender is going to give you whatever you want whenever you want it.

[longtimelurker]

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@LuckyBird wrote:

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@longtimelurker wrote:

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@Kb109 wrote:

4 in the last two years, which includes my mortgage. So three credit cards and one mortgage in two years. Freaking insane. I'm closing my Chase checking account and moving it over to my credit union where I keep my savings account. If this is how they want to treat a long-time loyal customer, I will take my money elsewhere. I'll keep my CSP and Ink open for the benefit of my average age of accounts.

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Moving the checking may well be a good move, but you are taking this way too personally.   It's just an automatic risk evaluation algorithm, and not a judgement on your goodness as a person.

And, my pet peeve, you aren't apparently a "loyal" customer, merely a long-standing one.   Loyal customers stick by their companies even when being screwed!

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I have to disagree.  I'm with the OP on this one. 

Loyal customers stick by their companies UNTIL they get screwed.  And then, all bets are off. 

If they're not going to consider and give some weight to your loyalty up to that point when making new credit decisions, why should they continue to benefit from it afterwards?  There should be room for underwriting exceptions in cases like this.  I'd take my money and credit card business elsewhere, too.

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OK, consider "loyalty" to a country, "My country right or wrong" type stuff.   IME, (self-proclaimed) loyal customers are those for whom the relationship is (mutually) beneficial, so I use credit card X, or shop at store Y, or use cell provider Z because the rewards suit my needs, the price/ selection is good, the service coverage in my area is strong etc.

To me, "loyal" suggests that someone has made an *extra* committment, more than simple self-interest.  So in the normal case, the customer has been benefitting as much as the company, so no extra claims to "loyalty" are really justified, the company just needs to consider the cost of losing this customer which may or may not be less than the cost of losing a new one

But hey, this is a CC forum and not a semantics one.  That said, I am of course right.

[CreditCuriosity]

4 accounts in two years and they declined you.. Chase is really going to piss off alot of people other than even this forum or other CC forum crowds if they keep this up on their branded cards (meaning the general normal person that doesn't visit forums )... Sorry to hear..  It is hard not to take it personal especially with you income/spend and relationship with them..  Whomever says CC isn't a game of sorts is wrong, they play it and we play it back.. Always other lenders that will gladly take your business, but I understand chase to some extent to.. Since this new policy has came around the last few weeks I have been making other plans for different lenders.

[Anonymous]

So my father in law has a CSP and told him about the new policy..he's response.."Who the hell opens up that many credit cards in two years anyways." I just died a little inside, lol. Anyways, I don't see how this is going to effect a lot of people other us around the forums who take a different type of interest in credit cards. Everybody just honestly needs to relax.

[kdm31091]

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@CreditCuriousity wrote:

4 accounts in two years and they declined you.. Chase is really going to piss off alot of people other than even this forum or other CC forum crowds if they keep this up on their branded cards (meaning the general normal person that doesn't visit forums )... Sorry to hear..  It is hard not to take it personal especially with you income/spend and relationship with them..  Whomever says CC isn't a game of sorts is wrong, they play it and we play it back.. Always other lenders that will gladly take your business, but I understand chase to some extent to.. Since this new policy has came around the last few weeks I have been making other plans for different lenders.

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Chase most likely does not want people who "play the game" as far as excessive account churning and such. Not saying that describes OP however, but the point is their policy does have some reasoning as to why it exists. I think the hype around the new policy is a bit much. Outside of these forums, most "regular people" are certainly not applying for 4+ cards in 2 years. Most people have a few cards and keep them for a long time. So this policy is not going to cause a meltdown for Chase other than for the minority we are.

It sucks for people like OP who were not taking advantage of the system but what can you do? Wait it out and try again later, or get a different card...you already have a Discover which is very similar to Freedom anyway. No point in taking it personal. Policies are policies, whether you have money with them or not.

[CreditCuriosity]

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@kdm31091 wrote:

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@CreditCuriousity wrote:

4 accounts in two years and they declined you.. Chase is really going to piss off alot of people other than even this forum or other CC forum crowds if they keep this up on their branded cards (meaning the general normal person that doesn't visit forums )... Sorry to hear..  It is hard not to take it personal especially with you income/spend and relationship with them..  Whomever says CC isn't a game of sorts is wrong, they play it and we play it back.. Always other lenders that will gladly take your business, but I understand chase to some extent to.. Since this new policy has came around the last few weeks I have been making other plans for different lenders.

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Chase most likely does not want people who "play the game" as far as excessive account churning and such. Not saying that describes OP however, but the point is their policy does have some reasoning as to why it exists. I think the hype around the new policy is a bit much. Outside of these forums, most "regular people" are certainly not applying for 4+ cards in 2 years. Most people have a few cards and keep them for a long time. So this policy is not going to cause a meltdown for Chase other than for the minority we are.

It sucks for people like OP who were not taking advantage of the system but what can you do? Wait it out and try again later, or get a Discover instead of a Freedom

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Chases choice obviously.. I just don't see this policy sticking, but I can be wrong..  They are losing customers whether they are happy to lose them is up for debate.  I am sure they are gaining customers to..  Once they have more time with this policy and sample size of impact postive or negative, they will look at their dashboards/reports and decide whether it was a good policy change or not and either keep it or revert it.  I am glad I have the CSP/Freedom already..  As far as I know this policy doesn't apply to co-branded cards or the brands they represent could choose to jump ship from chase to another lender such as Barclay's, BofA, etc.