Tagging Miles

  • Saverocity
  • Home
  • About
  • Ask Tagging Miles
  • Support Us
  • Store
    • Reselling Tools
  • Guides
    • Beginner’s Guide to Fulfillment By Amazon
      • Start Here
      • Setting up an account
      • Analyzing and adding a product
      • Shipping 101
      • Shipping 201
      • Ungating Product Categories
      • Amazon Seller App
      • Amazon Seller App Part 2
    • Expert’s Guide to Fulfillment By Amazon
      • Dealing with Returns
  • Mile High Reselling Club

Disturbing news on Chase Credit Cards

June 11, 2015 By Trevor 5 Comments





sapphire_preferred_card

Chuck over at Doctor of Credit put together a rather exhaustive post on Chase latest actions on approvals of Ultimate Rewards credit cards.

For me, it was a very sobering post to read. I, like many in the miles and points game, have a bunch of Chase cards. In fact, at last count, I have 8 (3 business, 5 personal), in fact, my Chase Marriott Rewards card is my longest held loyalty program credit card (and yes, its a tough decision each year, determining if the Cat 5 free night certificate can offset the annual fee).

Two major questions about the Chase action

Chuck highlights that Chase’s more stringent approval requirements are primarily focused on Ultimate Rewards cards (both quotes are from his latest post)

Specifically, if they see too many new accounts on your credit report they won’t approve you for a new card. This is even if the new accounts are non-Chase accounts. They always mention a 2-year time frame; if there were too many new cards opened within the past 2 years it’s much harder to be approved.

and

From what we can tell now, it appears that they are only targeting Ultimate Rewards-earning cards like the Sapphire and Freedom. INK seems to be included as well, although it  may be slightly less restricted due to the fact that it’s a business card.

This presents two major questions when considering a strategy going forward.

  1. Hold onto one or more Inks (depending on 5x spend), or a Sapphire Preferred card, Hope they eventually refine their approval process, and keep churning non-Ultimate Rewards cards, and non-Chase cards?
    Scale back on churning cards in the hopes of staying in favor when its time for another Chase Ink or Sapphire Preferred card.
  2. Wow, writing those out, I kind’ve feel like an idiot. I mean, Chase is king, that was what I think Joe, Shawn and I said a few weeks ago, but is it enough to completely uproot a mile and point strategy?

I would argue it is not.

My plan of action

For better or for worse, I’m going to jump on one or two cards that I’ve been eyeing for a while, but have been waiting for the right time. The number one Chase card I’ll be applying for is the Chase Hyatt card. I really wasn’t a huge fan of it for a long time, given that the most you can get is a few more stay credits with spend thresholds, and it gives you free nights instead of points. But with the latest offer (need to find that) and increasingly seeing others use the card (including Gary Leff), I think its time. Besides, I’d love to see some of the options on the Chase Hyatt card that Chasing the Points shared from a survey he saw.

Other than Hyatt, I may jump on a United or Marriott Business card, because, why not?

Wrapping up

All the dire news aside, I think its important that as a community, we have the resources to share and know what is going on. That, and this reminds me of one of the more timeless quotes:

This too shall pass.

Because, after all, we’ve seen this game ebb and flow. Right now the economy is doing well, and logically so, airlines, credit card issuers, and hotels don’t have as great a need to be extra rewarding.

So what is your strategy regarding Chase?

Share this:

  • Twitter
  • Facebook
  • Email
  • LinkedIn

Filed Under: Credit Cards Tagged With: Chase, Chase Ink, Chase Sapphire Preferred, Churning

Comments

  1. PedroNY says

    June 12, 2015 at 12:18 pm

    Just a reminder, the sky seemed to be falling with Citibank in 2009 when all of the sudden we were no longer able to get 2 personal and 1 business card on the same day. Freak out! Fast forward a few years and you can pick up roughly 11 Citi cards per year, just keep that cycle tight to 32 days between your apps. American Express is still giving out great business cards on annual basis, plenty of personal products to churn as well. Barclays is now in the game, with some good offers. Of course BofA continues to deliver with that churn churn churn magic. Chase will turn around, just gotta give it some time — it is a marathon, it has been for 10+ years I been doing it.

    Cheers,

    PedroNY

    Reply
    • Trevor says

      June 12, 2015 at 12:21 pm

      Pedro – you make a very good point. That’s why I put the quote “and this too shall pass.” Its a shame though for the time being, because of all the credit card issuers, I think Chase has some of the best customer service..

      Reply

Trackbacks

  1. Best Ranking First Class, Around the world on LCC's, Parental Elite Status Pauses, Miles and Points go mainstream - Tagging Miles says:
    April 15, 2016 at 8:28 am

    […] more often. This time, it’s about Chase’s 5 inquires in 24 months rule. Of course, my post on the matter didn’t make the […]

    Reply
  2. Travel Hacking Index Card, Hyatt Category Changes - Tagging Miles says:
    July 8, 2016 at 6:07 am

    […] Miler discusses another option for getting a Chase Credit Card, in the new 5/24 world. Of course, it breaks one of my cardinal rules in this game, of not mixing credit cards and bank […]

    Reply
  3. Is the Chase Sapphire Reserve Great for Resellers? - Tagging Miles says:
    August 21, 2016 at 8:14 am

    […] Why? Because we’re both way beyond 5 new accounts in 24 months, which may or may not trigger Chase to not approve you for a credit card. We saw with the Freedom Unlimited (aptly acronymed as “FU”), that early applications […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay in touch!

  • Email
  • Facebook
  • RSS
  • Twitter

Search

Subscribe

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

Topics

  • #Avgeek
  • Airline Programs
  • Ask TaggingMiles
  • Awards
  • Cashback Portals
  • Credit Card Match-ups
  • Credit Cards
  • Destinations
  • Dollars and Sense
  • Editorial
  • Events
  • Frequent Flyer 101
  • Giving Credit to Credit
  • Hotels
  • Manufactured Spending
  • Mileage Run
  • Miles and Points
  • Podcasts
  • Portal Update
  • Random
  • Rental Cars
  • Reselling
  • Saturday
  • Savings & Loan
  • Tagging Miles
  • The Brass Ring
  • Travel
  • Travel Insurance
  • Travel Programs
  • Uncategorized
  • Weekly News Roundup
  • Where Credit is Due

Recent Comments

  • double btc.com on Get Ebates Cashback In-Store
  • john nicholas on Tagging Miles Portal Updates – 10 December 2020
  • daftarnova88.info on Why I’m not a fan of the Amazon Seller App enhancements
  • ion club on Why I’m not a fan of the Amazon Seller App enhancements
  • Rachel on Introducing Tagging Miles Portal Updates!
Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. The owners of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links and advertisements posted on this website. For more information, please see our Legal Notice.

Copyright © 2021 · Tagging Miles

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.
This website uses cookies to personalize content and ads and to analyze traffic. Our ad partners may combine this information with other information you have provided them or that they've collected from your use of their services elsewhere. You consent to our cookies if you continue to use this website.OkNoRead more