Author Topic: CC Churn Frequency Question  (Read 4364 times)

Runge

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CC Churn Frequency Question
« on: April 28, 2015, 08:20:05 AM »
A few details.

My first churn ever was initiated on 3/3/15. I got the United MP Explorer Business card and Chase Sapphire Preferred. I've completed both minimum spends on the cards.

Since then I've received an advertisement in the mail from the United MP program enticing me to apply for the United MP Explorer (personal) card, and they're offering 50,000 miles with a 2000 minimum spend. Since the current public offer out there is still at 30,000 miles, I'd like to take advantage of this offer. Unfortunately they've restricted it to just me, so I can't share the wealth..haha.

But here's the delimma. I have until May 15 to apply, which is less than 3 months after my initial churn. Would it be ok to break the 3 month between churns rule of thumb to take advantage of this offer? I'll also want to go ahead an apply for another card on this churn, particularly the Chase Ink Plus. I have a trip to Asia planned for the end of the year, so I'd like to get my points that I can use through United in a soon as possible.

Also, all 4 of those cards would be through Chase. 2 business, 2 personal. Is that ok, or would I be better off waiting?

What do you suggest?

JLee

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Re: CC Churn Frequency Question
« Reply #1 on: April 28, 2015, 08:36:26 AM »
In the last ~2 months, I opened an Amazon Visa, Amazon store card, Discover IT, and US Airways Barclay card.  Chase Sapphire was about 3 months ago. I think you'd be fine.

misschedda

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Re: CC Churn Frequency Question
« Reply #2 on: April 28, 2015, 08:38:53 AM »
In my book, anything is ok in churning as long as you get the cards you want without jeopardizing your relationship with a bank.

Keeping that in mind, a Chase representative recently told me that they automatically deny any applications if you already had two applications within the past 31 days. Looks like you're already past that threshold so you're probably safe to apply for the other United card--I'd push it as close to May 15 as you can to spread out the applications.

Also, make sure to apply for the United card before you apply for the Ink Plus to improve your chances of getting it. Good luck!

lise

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Re: CC Churn Frequency Question
« Reply #3 on: April 28, 2015, 10:02:26 AM »
In my experience (as a churner) ...

Chase don't auto decline, they auto "review - pending approval" if you're had more than 1 application per month and your credit score is decent.
So a "robot" won't automatically approve your application if you're credit score is good. 
A human will then look it over, may approve it straight away, or may give you a call to approve the application.  They may ask you to reassign your credit limits from an existing account to a new account.


Runge

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Re: CC Churn Frequency Question
« Reply #4 on: April 28, 2015, 10:41:50 AM »
Good to know. Thanks for all the input. I feel a bit more comfortable now, but still weary. Guess I just need to pull the trigger in a week or two and see.

cashstasherat23

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Re: CC Churn Frequency Question
« Reply #5 on: April 28, 2015, 12:01:49 PM »
YMMV, but I now have 5 different credit cards with Chase, all from churning, and have never had a problem with them approving me.


acorn

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Re: CC Churn Frequency Question
« Reply #6 on: April 28, 2015, 02:14:23 PM »
I think Chase caps the number of credit cards at 5. I tried applying for a 6th and was rejected.

misschedda

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Re: CC Churn Frequency Question
« Reply #7 on: April 28, 2015, 02:54:09 PM »
I think Chase caps the number of credit cards at 5. I tried applying for a 6th and was rejected.

This isn't a hard rule because there are plenty of people out there with 6 or more Chase cards, but most people end up being denied after 5 or so cards because their total credit limit with Chase is too high.

acorn

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Re: CC Churn Frequency Question
« Reply #8 on: April 28, 2015, 06:39:24 PM »
I think Chase caps the number of credit cards at 5. I tried applying for a 6th and was rejected.

This isn't a hard rule because there are plenty of people out there with 6 or more Chase cards, but most people end up being denied after 5 or so cards because their total credit limit with Chase is too high.

Can you get more cards if you decrease the credit limits for the pre-existing cards?

misschedda

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Re: CC Churn Frequency Question
« Reply #9 on: April 29, 2015, 07:04:27 AM »
This isn't a hard rule because there are plenty of people out there with 6 or more Chase cards, but most people end up being denied after 5 or so cards because their total credit limit with Chase is too high.

Can you get more cards if you decrease the credit limits for the pre-existing cards?

Yes, often that works. I think the consensus is that Chase limits total credit extended through automatic approval (in some cases a human Chase rep can decide to give you more credit) to the lower of $65k or half your income. And it's really easy to lower credit limit on a card by sending a message through their online system. Keep in mind that the minimum credit limit for most Visa Signature cards is $5k.