When opening credit cards from Chase, you have to be careful with “velocity”, or how quickly you open the cards. Of course, there are some ground rules which control how quickly you can open Chase cards like only two personal cards every 30 days and one business card every 30 days. And if you open cards too quickly, you run the risk of getting shut down by Chase completely. Over the past year, we worked out a cadence that allows us to keep getting approved for Chase cards but *hopefully* avoids looking suspicious to Chase.
|Chase World of Hyatt||1/1/2019|
|Chase United Explorer Business||3/1/2019|
|Chase United Explorer Personal||5/13/2019|
|Chase Ink Preferred||9/22/2019|
As you can see, we opened five cards under my husband’s name including three personal cards and two business cards. This is a slight uptick from four Chase cards in 2017 and three in 2018. We will not apply for any more Chase cards until 2020. I think five Chase cards in a year is safe as long as you space them out. I wouldn’t recommend going much faster than this.
This goes back to my credit card churning strategy. If you throw in a mix of business cards from other banks, you can slow down your velocity with Chase while staying under 5/24. This is even more doable if you’re in two player mode and can have the other person opening personal cards from Citi, Amex, Barclays etc.
How many Chase cards have you opened this year?