![]() ![]() If you reported your annual household income as $80,000 and have $150,000 in credit lines from Chase, a scenario like this could raise a flag to Chase underwriters. At the time of his applications, he held a Chase Sapphire card (a card only available to Chase cardholders) and the IHG Rewards Premier Credit Card (more on his story below). ![]() He completed no other risky behaviors listed here. His personal deposit and credit card accounts were shut down the next week and he was left with very little information as to why. He did not receive approval decisions on any of the cards during his application process. ![]() TPG Senior News Editor Clint Henderson, a Chase deposit account and credit card customer for years and also well below 5/24, applied for the Chase Ink Business Preferred Credit Card and two personal cards all within three days. Recently, at the end of 2019 and into 2020, there seems to have been an increased scrutiny on too many applications. However, some were flagged only holding five and applying for a sixth, so there is some variation here. Many customers told me that they had between nine and 10 personal cards (as well as business cards) and then were flagged when they applied for the Iberia Visa Signature Card or World of Hyatt Credit Card. The 5/24 rule aside, I think it's safe to say that if you get to six, you should probably refrain from further applications with the issuer. There isn't a precise limit on the number of Chase credit cards you can hold at a time. Risky behaviorĪfter speaking to at least a dozen people who've lost their Chase accounts and reading dozens more stories across Reddit and other online communities, there is a clear (but not exact) list of common behaviors that will put your relationship with Chase at risk. There's been no official timeline of when an affected customer can/could come back to the bank, but many people report being successful two years after the initial account closures. In some cases (but not always), personal cards and business cards are closed, while others reported that all of their Chase accounts, including non-credit card deposit accounts, were closed. Cardholders' accounts are closed immediately, and they are given 30 days to use any Ultimate Rewards points left in their account. ![]()
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