Chase Terms Try to Eliminate Churning

[Anonymous]

So I was reading through the terms of the Ink Cash and found two things that strick me as interesting. First: "Chase cardmembers who currently have or have had a Chase credit card in any Rewards Program associated with this offer, may not be eligible for a second Chase credit card in the same Rewards Program". Since this card is Ultimate Rewards, it seems that if Chase wanted to, they would deny you the signup bonus for this card if you had any other card that earns Ulitmate Rewards points (CSP, CSR, Freedom, FU, Slate, other Ink cards). Second: "Chase cardmembers currently receiving promotional pricing, or Chase cardmembers with a history of only using their current or prior Chase card for promotional pricing offers, are not eligible for a second Chase credit card with promotional pricing". Seems that if you get Chase cards and only use them for the offers, Chase could deny you the promotional offers on the second card. 

I know I'm reading very hard into this and it probably won't impact me or most of the population, but that first point really struck me. If taken literally, Chase could limit your ability to get a second card, if you already have one card in that rewards program. Although not likely, am I reading these two sentences right?

[Anonymous]

Yeeah, it looks like other banks are following.  You can't do this with AMEX or Barclay either.

[Anonymous]

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@Anonymous wrote:

Yeeah, it looks like other banks are following.  You can't do this with AMEX or Barclay either.

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Huh? Can't do what with them.  The only CC company right now that limits the opening of cards under the same rewards program is Citi.  They implemented that last year.

This wording with Chase has been discussed here and elsewhere but as of yet there are no indications that they are or will in the near future, limit you to one card in the UR program for a set amount of time.

Edit - I know now what you're referring to with Amex and Chase; the adding of language about closing cards after receiving a bonus.

[Anonymous]

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@Anonymous wrote:

Second: "Chase cardmembers currently receiving promotional pricing, or Chase cardmembers with a history of only using their current or prior Chase card for promotional pricing offers, are not eligible for a second Chase credit card with promotional pricing". Seems that if you get Chase cards and only use them for the offers, Chase could deny you the promotional offers on the second card. 

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I've always viewed it as smart to avoid behavior of the sort Chase describes (above).  E.g. closing a card shortly after getting/using the bonus, or almost never using the card once you meet the minimum spend requirement.  I make sure the card continues to get used at least a little most months and I wait as long as possible for doing a product change or closing it.  So for example, I opened a Chase Sapphire Preferred in late January.  I met the requirements in late March but have used it for $10 or so in April, May, July, Aug, and will do so again in Oct.  I will do a PC to a no annual fee card in Dec.

If Chase has an algorithm that looks for bonus chasers, I won't appear to be closing the account, and I will have continued to use the card and let it report positive balances for several months after getting the bonus.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Second: "Chase cardmembers currently receiving promotional pricing, or Chase cardmembers with a history of only using their current or prior Chase card for promotional pricing offers, are not eligible for a second Chase credit card with promotional pricing". Seems that if you get Chase cards and only use them for the offers, Chase could deny you the promotional offers on the second card. 

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I've always viewed it as smart to avoid behavior of the sort Chase describes (above).  E.g. closing a card shortly after getting/using the bonus, or almost never using the card once you meet the minimum spend requirement.  I make sure the card continues to get used at least a little most months and I wait as long as possible for doing a product change or closing it.  So for example, I opened a Chase Sapphire Preferred in late January.  I met the requirements in late March but have used it for $10 or so in April, May, July, Aug, and will do so again in Oct.  I will do a PC to a no annual fee card in Dec.

If Chase has an algorithm that looks for bonus chasers, I won't appear to be closing the account, and I will have continued to use the card and let it report positive balances for several months after getting the bonus.

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Good advice and more people need to pay attention to this with Chase.  We have lot of posters that will apply for a Chase card that they really don't want just as a means of transferring  that limit to an existing card. Of course they get the bonus first and then close and transfer the limit.  While it may go thru, it certainly doesn't go thru unnoticed and puts you on their radar.  It's always a good idea to keep a card close to a year to avoid being considered a churner.  Heck I churn but never ever close a card before a year and havent even done that much.