Why the 2 year wait for chase sapphire?

[takeshi74]

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@Booboo71 wrote:

Why is Chase saying you have to wait 2 years before you can be approved or be able to apply for the Sapphire card? I realize for the part of too many applications biut that seems somewhat ridiculous. Any thoughts?

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It would help to post your history.  You can't assume that everyone is familiar with it.  Everyone does not have to wait 2 years.  You have to wait given your recent activity and Chase's policy.  They set their policies and underwriting critieria just like every creditor sets their own.  If you think it's ridiculous you don't have to do business with them and can use creditors that are not "ridiculous" to you.

They're extending the credit.  It's up to them to determine their criteria and what risk they're willing to take.  Of course the people wanting the credit extended to them think that they should get it regardless of circumstances but that's not how the system works.

When you're lending something to someone do you make the decision whether or not to do so or do you simply allow the person asking to you borrow to tell you?

[kdm31091]

It is what it is. They made the policy because of churners/abuse, and we can thank them for ruining it for everyone. They just move on to the next card to milk, but people who really want a CSP are screwed if they have too many new accounts.

However, I get why Chase has the policy anyway. Nobody really should need more than 5 cards in 2 years. I know we think that sounds crazy but the majority of people dont even get one new card a year so I can see Chases point limiting it.

OP you just have to wait. It's not the end of the world and its not going anywhere.

[icyhot]

This makes me so glad they approved me DAYS before it was implemented. After denying me for almost every single other card they offer

[icyhot]

If OP has 10 other Chase cards, would they be able to move limits to open a CSP? Or does that fall under the policy as well

[CreditCuriosity]

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@icyhot wrote:
If OP has 10 other Chase cards, would they be able to move limits to open a CSP? Or does that fall under the policy as well

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nope falls under policy due to UR bonus spend out of chase's pocket, not co-branded businesses pockets

[Anonymous]

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@kdm31091 wrote:
It is what it is. They made the policy because of churners/abuse, and we can thank them for ruining it for everyone. They just move on to the next card to milk, but people who really want a CSP are screwed if they have too many new accounts.

However, I get why Chase has the policy anyway. Nobody really should need more than 5 cards in 2 years. I know we think that sounds crazy but the majority of people dont even get one new card a year so I can see Chases point limiting it.

OP you just have to wait. It's not the end of the world and its not going anywhere.

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Need vs Want. Sounds like first world problem. Lol.

[Anonymous]

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@kdm31091 wrote:
It is what it is. They made the policy because of churners/abuse, and we can thank them for ruining it for everyone. They just move on to the next card to milk, but people who really want a CSP are screwed if they have too many new accounts.

However, I get why Chase has the policy anyway. Nobody really should need more than 5 cards in 2 years. I know we think that sounds crazy but the majority of people dont even get one new card a year so I can see Chases point limiting it.

OP you just have to wait. It's not the end of the world and its not going anywhere.

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For those accusing churners and abusers of "ruining it for everybody" recall that from the viwpoint of the average consumer, there is no valid reason for having FIVE new accounts in two years ("Wow, you must have so much debt") so it is only being ruined for people who are up to something themselves.

[SLO805]

I was denied for too many 1) inquiries and 2) new accounts within the past 24 months. 

They told me i can reapply and get approval once some of them were no longer in the 'past 24 months' from the date of Chase application.  Considering the fact I just started rebuilding December 2013, everything i've done and applied for/opened falls within that period lol.

[kdm31091]

Do two wrongs make a right, though? Churning vs a bunch of new cards? Either way its not what creditors like to see.

There is a direct link between churning and policy changing/nerfs. Anyone who wants to ignore that has their head in the sand.

Issuers dont just change policies willy nilly. Something cuts into their profits, theyre gonna fix it. The standard "churners are a minority" I dont buy because there are tons of blogs online about churning. People know it and do it and thats fine, but the consequences are that the doors get closed and the cards often nerfed.

Now issuers dont like a lot of new accounts, period, churned or not. Youre being extended money and the issuer must analyze the risk. Tons of new accounts is a perceived risk.

[Anonymous]

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@kdm31091 wrote:
Do two wrongs make a right, though? Churning vs a bunch of new cards? Either way its not what creditors like to see.

There is a direct link between churning and policy changing/nerfs. Anyone who wants to ignore that has their head in the sand.

Issuers dont just change policies willy nilly. Something cuts into their profits, theyre gonna fix it. The standard "churners are a minority" I dont buy because there are tons of blogs online about churning. People know it and do it and thats fine, but the consequences are that the doors get closed and the cards often nerfed.

Now issuers dont like a lot of new accounts, period, churned or not. Youre being extended money and the issuer must analyze the risk. Tons of new accounts is a perceived risk.

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Two wrongs don't make a right, but claiming that people doing nasty practice A (churning/MS) has prevented me indulging in nasty practice B (getting a whole bunch of new cards) is a little strange.    Now while I can still disagree with (for example) yfan's claim that churning reduces overall benefits for good decent people, it has some plausiibility,   but complaining about being stopped getting a Chase card because I got 5 new ccs in two years is much less coherent.  As you say, both are "bad", which is why I disagreed with your claim that one caused the other.