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Reports of Chase Denials for 5+ New Cards in Last 2 Years


RussInGotham
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No negs, 100% on time, declined for too many new accounts. Lowest score is from EQ at 718

 

I have 8 new accounts in the last 2 years.

This happens all the time. What did recon say?

 

Applied for UMP and Hyatt. UMP was instant and Hyatt denied for to many new accounts. Called recon and moved 5k from UMP to Hyatt. Call took a few minutes.

 

Recon said no.

Recon Rep: We can't get a good picture of your credit history because there are new accounts every few months

ME: And how many have balances reporting? Out of my 12 accounts 3 have a balance with less than 20% utilization.

Recon Rep: That doesn't matter sir. You have 8 accounts that are less than 2 years old. We can't approve you based on that.

Me: My AAOA is 3 years. You can't get a history from that?

Recon Rep: No

 

I'll try again this afternoon.

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Here's one bloggers article about this:
http://www.doctorofcredit.com/chase-credit-card-churning-the-new-reality/

This is the summary from that:

 

  • 5 or more new cards can trigger denial (occasionally even less can be problematic)
  • Even non-Chase cards count to this number
  • AU cards do count toward the 5-card limit, though you may be able to convince a rep not to count them
  • Reps seem to have the power to approve you with more than five, but that usually doesn’t happen
  • Shifting credit lines doesn’t help
  • Co-branded cards are mostly unaffected
  • Business cards (INK) may be slightly easier to get than personal cards
  • Business cards possibly won’t count toward the 5-card max
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This explains why I was declined three times for the iNK about one month back, even with attempting to move credit around. The reason was solely too many new accounts, so I just left it alone. Looks like I won't be getting any new Chase cards any time soon.

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With my EQ on ice I apped Hyatt only a month or so after getting Marriott. Just got the letter asking for my PIN...

 

They wanted to take a look at my report, and I haven't received an auto decline...

 

Gunna GP a Slate to see if I get auto declined.

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Me either. I decided for science to test this for co branded cards (plus I was kind of trigger happy and needed a fix. Haha). I got the 30 day message etc. I called the automated line and there isn't a decision yet. I'm not going to recon. If they approve me, cool. If not, I don't really care. I have had better service and benefits from every other lender to be honest.

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No negs, 100% on time, declined for too many new accounts. Lowest score is from EQ at 718

 

I have 8 new accounts in the last 2 years.

This happens all the time. What did recon say?

 

Applied for UMP and Hyatt. UMP was instant and Hyatt denied for to many new accounts. Called recon and moved 5k from UMP to Hyatt. Call took a few minutes.

Recon said no.

Recon Rep: We can't get a good picture of your credit history because there are new accounts every few months

ME: And how many have balances reporting? Out of my 12 accounts 3 have a balance with less than 20% utilization.

Recon Rep: That doesn't matter sir. You have 8 accounts that are less than 2 years old. We can't approve you based on that.

Me: My AAOA is 3 years. You can't get a history from that?

Recon Rep: No

 

I'll try again this afternoon.

Well F* Chase then, I guess my $30K/yr interchange fee-able transactions are going to a competitor, along with many others.

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I have 4 credit cards and 4 store accounts opened in past 2 years. None of them chase. All reporting zero balances, zero util. I'll put Chase at the end of the 3 issuers I'm apping monday due to this info they are a long shot anyway, and I'll post results.

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I have 4 credit cards and 4 store accounts opened in past 2 years. None of them chase. All reporting zero balances, zero util. I'll put Chase at the end of the 3 issuers I'm apping monday due to this info they are a long shot anyway, and I'll post results.

 

Thanks. That would be great.

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Denied, recon analyst did indeed keep mentioning new accounts, I told her I had opened only 3 new credit cards in past 12 months, to build positive tradelines because I plan on purchasing a home in 3 years. I said the rest were 4 store cards, two of which I had closed because I didn't like their user interface.

 

She confirmed that store cards counted towards "too many new accounts." She said they wanted to see the accounts age and told me to apply again later.

 

She was asking only about inquiries and new accounts in 2015, no mention of 2 years, but I did confirm the exact length of time for new accounts they were considering.

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DW has a Freedom referral from me and as of today a completely clean EX. I really want to freeze her EQ (Chase double-pulls EX and EQ in Virginia) and give her a shot at this but based on everyone's posts this looks like a wasted effort and inquiry. She has several new accounts in 2015.

 

Very strange.........

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I do hope Chase comes out of this funk because I don't ever plan on having less than 5 new cards in 2 years. Too many good bonuses.

5 new cards / quarter sounds more reasonable. ;)

 

Personally, I'm okay with six months or even a year. But two years to qualify for a SLATE???

Edited by djhall
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to add one more data point, I was denied for Chase Freedom about a month ago for the exact same reason.

I got on the phone with Chase and tried to argue, I explained that since my file is only 25 months old (I'm twenty) and I have more than five cards I had to open them to thicken my file because I'm buying a house next year. No dice, even with all cards below 20% util, the rep was very adamant that the denial was based on the new accounts.

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