A few months ago I gave a brief “pre-obituary” for the credit card game and noted new rules that went into effect for AMEX cards and rumored new rules for Chase cards that would go into effect in March and April. Those months passed without incident.
However DDF member Jkhein notes that he applied for a Ink Business Cash® Credit Card business card on May 22nd and was told by reconsideration that effective for applications made on May 22nd that they could no longer approve an Ink card if you have received 5 cards from any banks in the previous 24 months. He was told that had he applied on May 21st that he would have been approved. Previously the 5/24 rule only applied to the Freedom, Freedom Unlimited, and Sapphire cards. Another member related a similar experience in that thread and DoC notes there that he was told by a source that the rule is now in effect for Ink, Marriott, Southwest, and United cards.
Does that leave the IHG card, Hyatt card, and British Airways card unscathed? Seems unlikely, but anything is possible. Of course it’s also possible that the rule hasn’t gone into effect on the co-branded airline and hotel cards as I’ve yet to hear firsthand reports about those.
Previously, some people have had success overturning a denial with HUCA’ing (Hang up, call again) reconsideration, while others with $10K+ in a Chase checking account or with Private Client status have had luck by asking a banker to fill out a special reconsideration form for them, but we’ll have to wait and see what reports come in with the latest rule.
Like I said in that post, there’s no doubt that this game is on the downward slope of the bell-curve here.
Post your experience with Chase applications made on or after May 22nd in the comments!