I'd say the latter. It just seems like skating on thin ice in the current environment and not worth the risk. To be sure, I'm not saying you can never sign up for another Chase card. Nor am I saying that if you do, you'll get A/A'd (what do I know?). All I am saying is that if you absolutely have to satiate the credit card application bug (which I certainly understand as I'm getting ready for my own AOR), I'd definitely, definitely stay the heck away from 11 new card applications.