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

[Konrad2012]

OK, so three months ago the sky was falling: Greece was going to default and start a cascade across Europe, and Chase was bolting the door to anyone with 5 or more accounts in the last 2 years (which would be anyone on CB who is even remotely trying).

 

Then, this thread goes completely dormant for 3 months?

 

Well, Greece got bailed out, again. The US economy still has not collapsed despite the Greece situation and the China meltdown (as well as oil prices falling and slamming what was a booming sector) and the Fed has still not raised interest rates.

 

Greece got bailed out

China devalued the RMB which caused Vietnam and several other countries to follow suit

3 months ago the DOW had ecilpsed 18,000, it's now at 16,400 and has been as low as 15,500 where its headed again soon

[PrimoCredit]

Isn't the 5/24 only for the Freedom and CSP cards, i.e. the ones with UR points?

[david_weaver]

 

OK, so three months ago the sky was falling: Greece was going to default and start a cascade across Europe, and Chase was bolting the door to anyone with 5 or more accounts in the last 2 years (which would be anyone on CB who is even remotely trying).

 

Then, this thread goes completely dormant for 3 months?

 

Well, Greece got bailed out, again. The US economy still has not collapsed despite the Greece situation and the China meltdown (as well as oil prices falling and slamming what was a booming sector) and the Fed has still not raised interest rates.

Greece got bailed out

China devalued the RMB which caused Vietnam and several other countries to follow suit

3 months ago the DOW had ecilpsed 18,000, it's now at 16,400 and has been as low as 15,500 where its headed again soon

 

 

Greece got bailed out, but like everything politician do (or all nations), it was a temporary reprieve which kicked the can down the road on debt Greece will never be able to repay.

 

The Chinese economy is/was a fraud, and yet somehow the world allows China to do whatever it wants because the possibility of selling to 1.4 billion people makes greed outweigh good. They manipulate their currency, ignore patents and trademarks, sell faulty (and often dangerous) products, pay slave wages, and have little or no concern for safety nor the environment. Yet people whine about the strength of the American economy? The Chinese economic bubble has been coming for years, and it will get worse before it gets better.

 

I see the DOW headed even lower than 15,000. To me, everything beyond 12,000 has been a bubble waiting to happen as the economy has simply not grown.

 

My point was that there was so much talk back then of a 'coming storm'. There is ALWAYS a storm coming. Sometimes the booms are longer. Sometimes the busts are longer. But what goes up comes down and what goes down eventually goes back up. That is how the economy cycles. At what point does someone get credit for predicting that storm? There were people who were bears on the housing market for 5 years, and in reality, they got out two or three years too soon and missed massive profits. Yet they get hailed as visionaries for seeing it coming?

 

News flash...I predict oil will go back up. No specifics. No timelines. See how easy that is?

 

It appears the Chase situation had nothing to do with the economy, nor with Chase actually trying to make wise (instead of greedy) business decisions. Which explains why their policy was so different from issuers like Capital One. They were basically being forced.

[david_weaver]

Isn't the 5/24 only for the Freedom and CSP cards, i.e. the ones with UR points?

 

Pretty sure you are right.

[mendelssohn]

Isn't the 5/24 only for the Freedom and CSP cards, i.e. the ones with UR points?

Slate as well.

[david_weaver]

So I would be safe to churn my Marriott when the next really desirable offer comes along? It will be 2 years in October since I received the card and bonus.

 

As follow-up, is there a wait between closing one and opening another? Say in November, there is an offer for Marriott I wish to pursue. So I call and move the limit on my current Marriott to say, my Amazon, and close the Marriott. Can I go right out the next day and apply for the new Marriott?

 

Never churned a card before, so not sure of the requirements.

[mendelssohn]

So I would be safe to churn my Marriott when the next really desirable offer comes along? It will be 2 years in October since I received the card and bonus.

 

As follow-up, is there a wait between closing one and opening another? Say in November, there is an offer for Marriott I wish to pursue. So I call and move the limit on my current Marriott to say, my Amazon, and close the Marriott. Can I go right out the next day and apply for the new Marriott?

 

Never churned a card before, so not sure of the requirements.

I wouldn't try closing the card the same day you apply for a new one.

 

With Chase, it's 24 months from the date you received the bonus, so you need to know when the bonus posted and count from there.

[WriteDrunk]

 

Isn't the 5/24 only for the Freedom and CSP cards, i.e. the ones with UR points?

Slate as well.

 

if this is the case how is chase with PCing products? I have limited experience with them. I was thinking about apping for Hyatt and then PCing to Freedom after a year, will chase PC from a co-branded to a non co-branded card?

[Konrad2012]

 

 

OK, so three months ago the sky was falling: Greece was going to default and start a cascade across Europe, and Chase was bolting the door to anyone with 5 or more accounts in the last 2 years (which would be anyone on CB who is even remotely trying).

 

Then, this thread goes completely dormant for 3 months?

 

Well, Greece got bailed out, again. The US economy still has not collapsed despite the Greece situation and the China meltdown (as well as oil prices falling and slamming what was a booming sector) and the Fed has still not raised interest rates.

 

Greece got bailed out

China devalued the RMB which caused Vietnam and several other countries to follow suit

3 months ago the DOW had ecilpsed 18,000, it's now at 16,400 and has been as low as 15,500 where its headed again soon

Greece got bailed out, but like everything politician do (or all nations), it was a temporary reprieve which kicked the can down the road on debt Greece will never be able to repay.

 

The Chinese economy is/was a fraud, and yet somehow the world allows China to do whatever it wants because the possibility of selling to 1.4 billion people makes greed outweigh good. They manipulate their currency, ignore patents and trademarks, sell faulty (and often dangerous) products, pay slave wages, and have little or no concern for safety nor the environment. Yet people whine about the strength of the American economy? The Chinese economic bubble has been coming for years, and it will get worse before it gets better.

 

I see the DOW headed even lower than 15,000. To me, everything beyond 12,000 has been a bubble waiting to happen as the economy has simply not grown.

 

My point was that there was so much talk back then of a 'coming storm'. There is ALWAYS a storm coming. Sometimes the booms are longer. Sometimes the busts are longer. But what goes up comes down and what goes down eventually goes back up. That is how the economy cycles. At what point does someone get credit for predicting that storm? There were people who were bears on the housing market for 5 years, and in reality, they got out two or three years too soon and missed massive profits. Yet they get hailed as visionaries for seeing it coming?

 

News flash...I predict oil will go back up. No specifics. No timelines. See how easy that is?

 

It appears the Chase situation had nothing to do with the economy, nor with Chase actually trying to make wise (instead of greedy) business decisions. Which explains why their policy was so different from issuers like Capital One. They were basically being forced.

For the average person with a mortgage and a 401K, slow and steady long term is q they can do.

 

For someone with international businesses relying international supply chains and currency exchanges, that same simplistic viewpoint doesn't work. Nor does it work for international banks

[david_weaver]

For the average person with a mortgage and a 401K, slow and steady long term is q they can do.

 

 

 

For someone with international businesses relying international supply chains and currency exchanges, that same simplistic viewpoint doesn't work. Nor does it work for international banks

 

Well stated. My viewpoint is limited to my home, my business, and my eventual retirement. My only international exposure is when I vacation.