Continuing on with this week’s series of Chase shutdowns, another reader got the axe in the past week. This was on his wife’s account. He wasn’t sure what it was since he didn’t have a ramp up in spend or high utilization. The letter they sent him was the usual, “Too many new accounts” blah blah. At first he didn’t think it was due to too many new accounts, but I asked him to check his wife’s CR. This is in his own words:
ok.. so here is summary..dang i didn’t realise she apply for 5 chase card over last 12 month all are chase cobranded card . now that make sense . that what got her account
no high utilization reported in last 6 month
following bank card she got chase 5,amex 3,citi 2,disc 1,boa 1 and barclay 1
so they saw total 13 card apply and approx 50% from chase and they didn’t like that
It’s time to really slow it down in the churning game, especially with Chase. If I wasn’t banned from Chase, I’d maybe only apply for 1-2 cards with them a year and make sure I didn’t apply for any new cards from any other bank within the past 6 months or so.