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Got performance business card, but declined for personal card?

aermet
New Arrival

Was recently approved for a SW performance business card with a appropriate credit limit. Applied for rapid rewards priority card. I was declined due to customary blather of reasons. Too many cards applied for in 6 mos, not enough credit history, etc. My credit score is nearly 800, not credit heavy, but have 1 paid and another current mtg, all w/perfect payment history.

 

Anyone with experience in dealing with how to approach this? I don't think applying for another chase card will work, and SW will not accept bonus points from other card issuers to count toward 110k points needed for companion pass, which is my goal. It's Oct already so not much time to get another SW card going and probably not going to spend another $30k before Dec to get enough points for 110k.

 

 

 

 

5 REPLIES 5

Re: Got performance business card, but declined for personal card?

dfwskier
Rising Star

Chase automatically rejects someone who has obtained   too many credit cards recently.

I don't recall what the definition of "recenty" is, and also don't recall if it's just Chase cards or any kind of credit card. Maybe someone else can fill in the specific details.

 

I suspect that's what you ran in to.

 

If that's what happened, there's not much you can do.

 

Also, if Chase refuses to give you another card, likewise, there's not much you can do.

 

edit add: getting another Chase card wouldn't help you anyway as Chase doesn't allow 2 bonus point payments  in a 24 month period.

Re: Got performance business card, but declined for personal card?

SWDigits
Rising Star
Solution

@dfwskier wrote:

Chase automatically rejects someone who has obtained   too many credit cards recently.

I don't recall what the definition of "recenty" is, and also don't recall if it's just Chase cards or any kind of credit card. Maybe someone else can fill in the specific details.

Chase has an unwritten 5/24 rule, they typically won't approve new credit for anyone who has opened 5 new accounts (with any creditor, not just Chase accounts) within the past 24 months.  See this third party link for additional context, it's one of the few web pages to cite a written source: https://www.nerdwallet.com/blog/credit-cards/chase-5-24-rule-written-out/

 


@dfwskier wrote:

If that's what happened, there's not much you can do.


The comments in this different third party site discuss how one person was able to bypass the rule, though I think this is rare:

 

https://onemileatatime.com/the-chase-524-rule-explained/

 


@dfwskier wrote:

edit add: getting another Chase card wouldn't help you anyway as Chase doesn't allow 2 bonus point payments  in a 24 month period.


You actually can get bonus points for two cards so long is one of them is a business card, which is the scenario described by @aermet

 

 


Customer | Home airport DCA | Community Champion

Try calling the Chase reconsideration line.

lugal
New Arrival

Try calling the Chase reconsideration line. 

Re: Try calling the Chase reconsideration line.

SWDigits
Rising Star

@lugal wrote:

Try calling the Chase reconsideration line. 


+1.  You can get the number by doing a web search.  @aermet you may have success by following the approach mentioned in the comments of the web page I referenced in my other post, specifically asking to move credit from an existing Chase account to the new card account you're applying to get.

 

With all of this, the timing you referenced in your post isn't ideal.  You have to get approved for the card, meet the spend requirements to earn the bonus, and then have your subsequent statement close (after you meet the spend requirement) before the end of the year.  It's not promising.


Customer | Home airport DCA | Community Champion
Highlighted

Re: Try calling the Chase reconsideration line.

Travelfreek
New Arrival

If you want the Companion Pass for 2 years, don't qualify till Jan 1st 2020.  Also, Any news on getting the personal card.  I'm about to do the same as you.  Asking for a low limit ($5k for example) sometimes helps if it's a credit limit issue.  I'm going to wait till about a month from now to apply for the personal card because I have to watch the 5/24 rule.