Rejected for Chase Ink Business

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JBTX
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Joined: Wed Jul 26, 2017 12:46 pm

Rejected for Chase Ink Business

Post by JBTX » Fri Oct 06, 2017 4:59 pm

Just got word that i was rejected for this card. I called the reconsideration line and they said you can't be reconsidered if you have had more than 4 cards (of any type) in two years - actually they would not say it was four, but she did say even 5 would not have qualified. I've had 6 cards over two years (none of them chase) and that included my frikkin Amazon card. :oops: . My credit score is otherwise very good, something like 790-800 FICO 8.

This signing up for new cards to get bonuses isn't all its cracked up to be.

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Strayshot
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Re: Rejected for Chase Ink Business

Post by Strayshot » Fri Oct 06, 2017 5:06 pm

You got caught by Chase's 5/24 rule, no more than 5 new cards in the last 24 months. Check out Barclaycard Aviator and go get some AA miles instead.......

JBTX
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Re: Rejected for Chase Ink Business

Post by JBTX » Fri Oct 06, 2017 5:48 pm

Strayshot wrote:
Fri Oct 06, 2017 5:06 pm
You got caught by Chase's 5/24 rule, no more than 5 new cards in the last 24 months. Check out Barclaycard Aviator and go get some AA miles instead.......
The lady said even 5 in 24 would have been too many.

This also says 5 is too many.

https://www.doctorofcredit.com/chase-52 ... Card_Limit

drk
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Re: Rejected for Chase Ink Business

Post by drk » Fri Oct 06, 2017 9:03 pm

That's correct. Once you hit five over two years, Chase isn't interested (other than a few co-branded cards). If you have an actual business, though, it's possible to go into a branch and open one of these cards with a Business Relationship Manager. For personal cards, pre-approvals (in-branch or online) also get around the 5/24 rule.

Incendiary
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Re: Rejected for Chase Ink Business

Post by Incendiary » Fri Oct 06, 2017 9:20 pm

Is this to prevent churn and burn?

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LadyGeek
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Re: Rejected for Chase Ink Business

Post by LadyGeek » Fri Oct 06, 2017 9:24 pm

This thread is now in the Personal Finance (Not Investing) forum (credit card).
To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

THY4373
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Re: Rejected for Chase Ink Business

Post by THY4373 » Fri Oct 06, 2017 9:30 pm

Incendiary wrote:
Fri Oct 06, 2017 9:20 pm
Is this to prevent churn and burn?
Yes it is one of many anti-churn mechanisms implemented by the banks. In some ways the toughest one though some might argue Amex's once in a lifetime bonus language is tougher.

DiMAn0684
Posts: 75
Joined: Fri Oct 28, 2011 10:27 am

Re: Rejected for Chase Ink Business

Post by DiMAn0684 » Sat Oct 07, 2017 8:45 am

There's a workaround for that particular card that allows to get it even if you have more than 5 open cards in the last two years. The workaround requires going into a branch and asking business banker (not all branches have them) to submit a paper application on your behalf. The paper app also has 100k bonus, vs 80k 'online' bonus.

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