CyndiLouWho
DIS Veteran
- Joined
- Feb 7, 2013
Because you’re higher risk if you’re applying for more cards and have more credit extended to you (collective you, not you personally). Lots, and lots, of people have huge credit card debt. Tens of thousands per person. Chase knows about the 5 cards you got in the past 24 months, and if you are maxing them out, yet still making payments so you have a good enough credit score, you’re a risk. (Yes, utilization impacts your score but I know people with credit scores in the 700s who carry a lot of debt).I don't know it doesn't stop people from churning their business cards once they get under 5/24. None of the banks want churners and they are cracking down on bonuses. I would get it if they limited the number of chase cards you could get in 2 years, but why should they care how many Amex, Citi or store cards I have. I only have 3 chase cards, I'm at 5/24, and I've never churned.
Two of the three Chase cards I have are over 10 years old and have put 10's of thousands of spend on them. I've taken 23 Disney cruises and at least 10 trips to Disney World all on my Disney Visa. I'm sure there's a lot of people with excellent credit that get denied Chase cards and have no idea why. I haven't put a dime on my Chase cards since they denied me the Hyatt card in April. Their rule may cut back on churners, but it also eliminates non-churners from getting their cards. I don't see how this is profitable for them. I used Amex to pay for my last cruise and my upcoming cruise.