I will be spending close to $20k in the next few months (in addition to my normal spending) so I am trying to take advantage of as many credit card sign up bonuses as I can. I applied and was approved instantly for the chase sapphire reserve card. I will put the $4k required on it and get the 100,000 sign up bonus which I plan to redeem for $1,500 worth of travel this winter. The next card I was going to sign up for was the IHG rewards card, and I didn't realize it was also through chase. I completed the application process but was told they need to review my application and I should hear from them by regular mail in 7-10 days. I am over qualified for the card, but think that signing up for the chase sapphire reserve with a $21k limit less than an hour before may have given them pause.
UPDATE: I just received an email that I was approved and my IHG card is on the way
I've been waiting to apply for the cards because nearly all the spending is going to on a single large purchase, so I will need to walk in with enough credit cards to split the $17k purchase, and I needed to wait so that I am still within the 3 month period that it required.
I was hoping to sign up for another 3 or 4 cards to maximize my bonus potential. Is it going to be a problem getting approved for that many more cards in such a short time frame (the next week or so)? Is it only a problem if they are offered by the same company (ie maybe chase won't want to approve me for several more, but I could go with capital one, etc.)?
I hope they don't deny me the IHG rewards card. I only have to put $1k on the card to receive 80,000 points, and the fee is waived the first year (it's $49/yr after that and I receive a free hotel night each year which is fair considering the $49 annual fee).
Secondary question regarding the chase sapphire reserve: The annual fee is $450, but they give $300 credit towards travel in addition to the 100,000 sign up bonus. My plan is to sign up for a different chase card in the next year, transfer any remaining points on my account, and canceling the sapphire reserve before my 1 year anniversary to avoid paying the $450/yr fee after year 1. I anticipate using most of the $300 travel credit and 100,000 points before next spring, but if there are any points left on the account I don't want to lose them. Is this a feasible plan?