Credit card companies have been making changes lately to try and encourage profitable behavior and also lop down on the number of people applying for the same cards over and over. For example,American Express now restricts credit card bonuses to once in a lifetime, on both personal and business cards.final year Chase also instituted a new policy on their personal non co-brand credit cards (cards not issued in conjunction with another brand), and like the Chase Sapphire Preferred® Card and Chase Freedom® Card. Specifically,Chase is generally no longer approving people for these cards whether they've applied for more than five credit cards in the past 24 months. We're not talking approximately five Chase cards in the past 24 months, but rather five cards of any kind.
The logic is likely that they assume those with more credit cards are more likely to be getting the cards just for the sign-up bonuses, and therefore are less likely to be profitable customers.
As reported by Doctor of Credit back in February,this 5/24 (five cards in 24 months) policy will apparently be extended to Chase's co-branded credit cards as of April 2016. Of course this comes from an unnamed source so I can't confirm it, though I wouldn't be surprised whether it's dependable. I assume the timeline has the potential to change, or though whether you want to be on the safe side you'll want to pick up these cards in the next couple of weeks.
The post Getting Approved For Chase Cards Could Soon Be More Difficult appeared first on One Mile at a Time.
Source: boardingarea.com