Author Topic: How often to apply for a chase card. (Read 5566 times)

elibeli2 · « **on:** October 16, 2011, 03:08:45 AM »

I just received a continental chase card, I secured messaged them and received an additional 20k miles. (thanks dan for the tip

)

However, I just received an offer for the chase sapphire 50k right after the first swipe.

My question is how long shall I wait to apply for the sapphire card? Should I do a multi browser and apply for a united chase card while I am at it?

Thanks.

DovidR · « **Reply #1 on:** October 16, 2011, 09:37:06 AM »

Read this first: http://dansdeals.com/archives/15735

Asking and not getting approved is somewhat painful. Do you have a good credit score? Income? Do you have a large amount of credit with Chase? How many credit card applications have you submitted in the last 6 months?

If you have a steady income and have lots of credit with Chase already, I'd pull the trigger on both cards. Worst comes to worst, if they give you a hard time you can tell them you don't want any additional credit and ask them to shift credit from your other cards.

elibeli2 · « **Reply #2 on:** October 16, 2011, 11:59:08 AM »

I have one card with chase on a 15.000 credit limit. That is the only card I have with them.

I have a very good credit score, however, as I mentioned I just open that chase account.

Shall I take the risk and apply for both? How long should I wait.

Thanks.

DovidR · « **Reply #3 on:** October 16, 2011, 08:10:15 PM »

This thing isn't an exact science, so it's hard to give a definitive answer.
I can give you a recommended course of action, but I need some more info.
Did you read Dan's article I hyperlinked for you?
What are the answers to the other questions I asked you?

If you haven't applied for other cards in the past 6 months, if you have a steady income, I'd recommend you go for it.

elibeli2 · « **Reply #4 on:** October 17, 2011, 12:48:48 AM »

Thank you David.

I have a very good credit score, and 15,00 thousand dollar credit on Chase. I have allot of income as well.

I applied for only one credit card in the past 6 months which was a Chase continental card around 3 weeks ago.

Should I do both cards, and how long should I wait.

mikel1 · « **Reply #5 on:** October 17, 2011, 12:56:29 AM »

Besides credit score and income how is your credit history. I would make sure i have a good credit history before applying back to back. i would wait 2-3 months at least before another chase account.

mikel1 · « **Reply #6 on:** October 17, 2011, 12:58:13 AM »

also my experience with multi browser is that you will most probably not get aproved right away and have to call reconsideration. but chase is very nice with regards to moving credit over.

elibeli2 · « **Reply #7 on:** October 17, 2011, 01:12:55 AM »

My credit history is great.

How long do you have to wait to apply for a new one, a month?

DovidR · « **Reply #8 on:** October 17, 2011, 05:52:08 AM »

Nope, you can apply right away.
Since late August, I've successfully opened 5 Chase credit cards.[CO, UA, SP, Hyatt, Ink Classic]

AsherO · « **Reply #9 on:** October 17, 2011, 08:09:23 AM »

Quote from: DovidR on October 17, 2011, 05:52:08 AM

Nope, you can apply right away.
Since late August, I've successfully opened 5 Chase credit cards.[CO, UA, SP, Hyatt, Ink Classic]

You got very lucky, with the recent Chase crackdowns it's a major YMMV.

DovidR · « **Reply #10 on:** October 17, 2011, 10:43:34 AM »

Quote from: AsherO on October 17, 2011, 08:09:23 AM

You got very lucky, with the recent Chase crackdowns it's a major YMMV.

No luck required. I closed 2 Chase credit cards in the process (slate, amazon) and moved credit around.
I was initially rejected for three of them, but calling reconsideration really really helps.
It also helps that I've been a long time customer and started this off with a credit score over 800.

AsherO · « **Reply #11 on:** October 17, 2011, 11:48:08 AM »

Quote from: DovidR on October 17, 2011, 10:43:34 AM

No luck required. I closed 2 Chase credit cards in the process (slate, amazon) and moved credit around.
I was initially rejected for three of them, but calling reconsideration really really helps.
It also helps that I've been a long time customer and started this off with a credit score over 800.

My variables are the same as yours and I still maintain that you got lucky (well, maybe I got unlucky). Even with lots of recon calls and an appeal to their executive team, I couldn't push through a fifth app in 3-4 months. I seem to remember others here also implying they became stricter for churners.

Dan · « **Reply #12 on:** October 17, 2011, 12:03:25 PM »

Quote from: AsherO on October 17, 2011, 11:48:08 AM

I couldn't push through a fifth app in 3-4 months.

I got 6 in that time-period with 2 3BMs.

AsherO · « **Reply #13 on:** October 17, 2011, 12:04:24 PM »

Quote from: Dan on October 17, 2011, 12:03:25 PM

I got 6 in that time-period with 2 3BMs.

I'm not saying it's impossible, just YMMV (and the more apps the harder you have to push).

DovidR · « **Reply #14 on:** October 17, 2011, 12:19:12 PM »

Maybe it's because I haven't churned cards yet? Except for the SP, this is my first go around.

AsherO · « **Reply #15 on:** October 17, 2011, 12:28:58 PM »

Quote from: DovidR on October 17, 2011, 12:19:12 PM

Maybe it's because I haven't churned cards yet? Except for the SP, this is my first go around.

Possibly. I also had 11 inquiries on my TU, most within the past year, and other Chase cards this year too (which Dan probably had as well).

DovidR · « **Reply #16 on:** October 17, 2011, 12:35:04 PM »

Quote from: AsherO on October 17, 2011, 12:28:58 PM

Possibly. I also had 11 inquiries on my TU, most within the past year, and other Chase cards this year too (which Dan probably had as well).

Yeah... I also grabbed a citi card and three Amex cards during the same period. I think I'll hold off for a few months. Until Pessach, maybe, if I can resist.

AsherO · « **Reply #17 on:** October 17, 2011, 12:40:00 PM »

Quote from: DovidR on October 17, 2011, 12:35:04 PM

Yeah... I also grabbed a citi card and three Amex cards during the same period. I think I'll hold off for a few months. Until Pessach, maybe, if I can resist.

I grabbed quite a few other cards as well. I'm ready for another AOR, but I'm probably going to hold off Chase for now.

Simcha89 · « **Reply #18 on:** October 18, 2011, 10:53:34 PM »

Quote from: DovidR on October 17, 2011, 10:43:34 AM

No luck required. I closed 2 Chase credit cards in the process (slate, amazon) and moved credit around.
I was initially rejected for three of them, but calling reconsideration really really helps.
It also helps that I've been a long time customer and started this off with a credit score over 800.

what do you mean by "started this off"?
has your credit score gone down drastically since you applied for the 5+cards?

AJK · « **Reply #19 on:** October 18, 2011, 11:10:38 PM »

Quote from: Simcha89 on October 18, 2011, 10:53:34 PM

what do you mean by "started this off"?
has your credit score gone down drastically since you applied for the 5+cards?

His score will certainly no longer be 800, that's for sure. AFAIK, each inquiry dings your CR ~5-13 points.