Don’t get too excited if you see the Chase Black Star

italdesign

italdesign

Level 2 Member
It’s known that you may be able to bypass 5/24 if you see a “black star” for business card offers in the “just for you” section of your Chase account. If you read DoC’s data points, it’s mixed as to whether it really bypasses 5/24. The rough consensus seems like this: if you get a variable APR offer, you definitely won’t bypass 5/24. If you get a fixed APR for the first year, then variable APR, you have a chance to bypass 5/24.

My offer for Ink Cash was 0% fixed APR for 12 months, then variable APR. I decided to give it a try. I got an instant denial, and the e-letter showed up in my account today:

We didn’t approve your request

Our decision was based on the following reason(s):

Too many credit cards opened in the last two years associated with you
Click to expand...
Well, there you have it. It didn’t work for me. Denied for 5/24.


The post Don’t get too excited if you see the Chase Black Star appeared first on Points Adventure.

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EightBall

Level 2 Member
You misunderstand how it works. The promo 0% rate is not relevant. The variable APR after that was your clue that this was not a pre-approved offer that would bypass 5/24. If that second APR was fixed, then you would have been good to go.

Edit: I should clarify that the second number with always vary with the Prime rate. But in a pre-approved offer it shows a single number (ie: 15.49%) rather than a range.
 
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EightBall

Level 2 Member
While it's an interesting data point, it's the only one I've seen like that and I would not give it much weight. Meanwhile I have seen quite a few that run contrary to that (such as your own!). I strongly suspect user-error in the case of that poster.
 
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dr0832

Level 2 Member
Does it make sense to call chase when you get pending or just roll the dice and see what happens? I'm 22/24 I think lol. The fact that I didn't get instantly denied means those black stars with fixed rate definitely work, it's just a matter of having a business Chase will instantly approve I think.
 
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Josh F

Level 2 Member
Charity Forum Mod
dr0832 said:
Does it make sense to call chase when you get pending or just roll the dice and see what happens? I'm 22/24 I think lol. The fact that I didn't get instantly denied means those black stars with fixed rate definitely work, it's just a matter of having a business Chase will instantly approve I think.
Click to expand...
I used to promote calling - but I found they tend to ask a lot more questions and it was getting more difficult to get approved. I switched to just waiting and found it easier to get approved - calling only if I get a denial or they needed more information. Not sure that's the right strategy - but it worked for me.
 
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asc8u

Level 2 Member
Josh F said:
I used to promote calling - but I found they tend to ask a lot more questions and it was getting more difficult to get approved. I switched to just waiting and found it easier to get approved - calling only if I get a denial or they needed more information. Not sure that's the right strategy - but it worked for me.
Click to expand...
I was trying not to call but after checking the automated system, i got the 7-10 day message,
which usually indicates that it's not going to get approved, so I called.
Fortunately, I got routed to the Verification department which asked me to fax in EIN info.
Now on the automated system, I'm back to being 30 days pending.
(fingers crossed).
And of course, i seriously hope I don't get shutdown. I wasn't thinking about that possibility
when I applied (hasn't a hacked link).
 
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knick1959

Level 2 Member
Wild. I never get any offers at all. But checking my wife's personal account, she has 3: Ink Preferred, Cash and Unlimited (all Biz cards).

I got excited at first but I think, with the exception of the sign up bonus, there isn't a benefit for us to use from any of these cards. I have an Ink Cash that is anchored in our portfolio (and CSP and Freedom Unlimited). Perhaps the Ink Unlimited ... it might allow me to switch my personal unlimited to a quarterly bonus card ... but I don't see much value in that and I kind of like not chasing this quarter's max 7500 points anymore.

There was an angle with the Ink Preferred awhile back but that dried up. Any secrets left?

Ah, another thing. She's pre-qualified but currently at 16/24. Odds? Thanks.
 
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knick1959

Level 2 Member
knick1959 said:
Wild. I never get any offers at all. But checking my wife's personal account, she has 3: Ink Preferred, Cash and Unlimited (all Biz cards).

I got excited at first but I think, with the exception of the sign up bonus, there isn't a benefit for us to use from any of these cards. I have an Ink Cash that is anchored in our portfolio (and CSP and Freedom Unlimited). Perhaps the Ink Unlimited ... it might allow me to switch my personal unlimited to a quarterly bonus card ... but I don't see much value in that and I kind of like not chasing this quarter's max 7500 points anymore.

There was an angle with the Ink Preferred awhile back but that dried up. Any secrets left?

Ah, another thing. She's pre-qualified but currently at 16/24. Odds? Thanks.
Click to expand...
It's been pretty quiet around here as of late. I debated with myself on paper and decided there isn't much of a down side in going for this. I do see the possibility of using her new Ink card (if approved) to replace my CSP card. Same fee, 3x instead of 2x on travel-related things (perhaps better on the Ink card). The only thing I lose is primary rental car insurance in the US. I don't really need to keep them both ... my CSP is around for insurance and UR transfer rights. Other than that, it might be a wasted hard pull. She is somehow down to 4, so no biggie there.

I re-read all of the text above and found the pertinent DOC article which didn't really clarify much for me. Except ... her offer had no first-year-then-after rate, but a single quoted variable rate. Which i took as a positive.

She was instantly approved with only a 6k CL, but that works for me. I'm currently booking some cash flights in Africa (where her AMEX PRG is not applicable) so I will wait for this to arrive and use that ... 3x plus it will help chip away at the 5k spend requirement.

Bottom line? Approved at 16/24 thanks to a black star offer (no new personal cards in the past 3-4 months tho). I am happily surprised.
 
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