Chase changed its approval algorithm. (MUST WATCH)

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Chase cards are some of our favorites in the entire credit card space. Sadly, it has become a lot harder to get approved for Chase cards if you already have several of their cards. Today we are going to explain all the new changes

[@SleepyRod]

Credit card KZbin likely played a big role for this. The ink train was supposed to be low key. Credit card KZbin blew it up and here we are.

[@887363]

Not just that but multiple 100K+ FB groups discussing the Ink train didn't help either.

[@wanderingdoc5075]

I've been saying this for the last year, that's the elephant in the room. How many credit card points and miles venues whether that be forums groups blogs or podcast did you know in 2019 that had hundreds of thousands of viewers? Zero. Maybe one? Now it's over 300.

[@luckystar8590]

FACT!

[@lewis20002000]

I got the INK preferred in July, canceled my INK unlimited to make room to apply for the INK cash, where I got denied in November. Reason: business revenue was too small.

[@jasonspain3554]

I got my first Ink card in August. It was Ink Preferred with the 120k SUB. I got my second Ink in October - the Ink Unlimited 90k SUB. I had to call the recon line for both. I only got a 5k limit on the Preferred and 4k on the Unlimited. I was looking to get the Ink cash in January...if possible. My Preferred currently has a $0 balance and my Ink Unlimited has a $3,900 balance. Looking to milk my 0% APR. Do you think I should go ahead and pay off or reduce my the balance before I apply for the Ink Cash in January?

[@grownsimba8120]

What did you put for projected revenue on the latest application?

[@newagain9964]

What did u put the income for on cash card app?

[@Phlegethon]

Maybe chase is now considering how many they’re approved people for internally as well for business cards

[@MyNameJim]

18:55 a side note about covid's effect on Chase cards. I feel like the Sapphire Preferred's Online Groceries categories was originally supposed to be a grocery category. But then Covid happened and they made it online groceries only.

[@Ctboosts]

I can’t get approved for the Hyatt Business Card. I’ve been denied 3 separate times. I have 5 Inks which I’m sure is a big factor.

[@newagain9964]

I’m sure there’s an internal limit for biz cards both count and credit limit (based on income)

[@cascadiaadvancedmanufactur2034]

How responsible do you and other CC KZbinrs feel for Amex and now Chase making it more difficult to gain vallue from their cards?

[@jnd2415]

WTF are these kids talking about credit? These KZbinrs are the reason why credit card companies are tightening down on approvals.

[@russellrhodes1468]

Yeah. I hoped on right when Chase began to tighten up the restrictions.

[@mattdarling9450]

I have 3 Inks, haven't really considered trying to get another one, I'll also be at 5/24 for a couple months, so I don't know if it's even worth trying to hold out for another one.

[@newagain9964]

Don’t apply until after 5/24. And also close an ink account or two if it’s been over 12 mos. Then apply

[@aramosjr]

I have three ink cada which were opened this year and I do use all of them and I was rejected for another Ink card. When I called the reconsideration line Chase told me that I would not be able to get approved. There was nothing they could do to approve me.

[@Paul_seekingthetruth4U]

Open up a new LLC and apply with a new EIN.

[@911eVoX]

What the hell is a LLC? lmao

[@Yourpolice69]

@@911eVoX a limited liability company

[@jwil4286]

I wonder if you could get three Ink cards in a year, and then cancel them the following year, and then rinse and repeat.

[@toddyee-e6n]

I think but not sure that authorized user status counts towards 5/24

[@newagain9964]

It does for Chase

[@sneedsfinancial]

My new Chase strategy: don't. They've also cracked down on AU cards, at least on the business side. So if you're at/over 5/24 because of AU, might as well just make it lol/24.

[@calebwharton3007]

They aren’t letting you call recon anymore due to over 5/24 bc of AU? That is a bummer

[@sneedsfinancial]

@@calebwharton3007 Yep, got the response multiple times after HUCA. Business side only fwiw, no data on personal.

[@selmite5566]

I think at least some of this has to do with the economy. The average credit card balance that the average person is carrying now has gone up significantly.

[@Mushu_Pork]

I think the answer is twofold, probably a hard 4 limit ink card limit, AND de-risking giving economic apprehension. BUT... I'm guessing that after any economic downturn, they will be back to opening up approvals etc.

[@newagain9964]

Wanting more than 3 inks certainly draws more scrutiny. And apply for same card within 24 mos in a no go. Esp if it’s still open.

[@pointstothemoon]

I’m in mourning. It’s been a shock. What else has hit the cc game this hard in recent years?

[@kwame717]

Shaun sounds so sad about missing the train. 😂

[@WhoDeanyUnchained]

This is a really negative hit to Hyatt...

[@newagain9964]

Hyatt has been devaluing and cheating benefits anyways. They were always overrated, now it’s clear.

[@smashreviews5960]

lol dude in green speaks gibberish. Like I swear he’s saying something but not making sense.

[@tomwest2413]

I had to watch this once and never more to see how bad this was.

[@tooeasy4217]

Good while it lasted! Once everyone find out about something nice it gets taken away lol

[@ToboeKey309]

These kids dont kno wut they r talking about 🤣🤣🤣 my wife her chase sapphire reserve has 100k cradit limit so all together with all her chase credit cards goes over a total of 200k credit limit 🤣🤣🤣

[@Yourpolice69]

and? doesn't prove why they're wrong

[@newagain9964]

These issuers have enough data to separate real and potential high value customers vs churners. It s the at simple. And it’s THEIR game