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43 comments
1st!
2nd!
3rd!!!
I never thought I'd say this. But this was well made. You earned my like and share
5th 👍
5th
Closing a credit card after 3 months isn't going to get that "hard pull" removed and not count toward your 5/24, is it?
I've never seen so many people bragging about watching a video early! I've seen 1st and 2nd but bragging for 5th?!? Lmao. Good info on the video. Explained it very well. Thanks.
I opened an IHG premier Jan 2020, and got the promotion in the first month. Used it on or off for less than a year and closed it. Decided to try signing up after watching this video and was immediately approved. Still have 80,000 pts left over from the first signup so should be swimming in points soon.
11th!
The rules of the game don’t stay the same 😆
Like you said, these changes don't really affect smart people so 'we' have nothing to be concerned about.
can I still get the bonus for the freedom unlimited and the Hyatt personal card?
also can I still get the ink premiere bonus?
I have all three ink cards also
I had the freedom flex since 12:26 21
Chase sapphire preferred since '06 01 21
OG freedom since 2 years ago
Since it says "in the same rewards program", this could affect new ppl getting Chase UR tri/quadfectas
Chase up’d my credit limit by 50k so I continue to use it buy a drink every month.
I think this is in relation to the lawsuit filed by NY "the you own your points/miles" lawsuit.
who would close these cards……its not hard to profit.
Time to axe the new language, we are to game the system to get more points off of them.
Does it mean that I can only apply only one card from chase? please confirm. I am just low spender on credit card. is the chase a bad card to open with?
If they don't want you to sock drawer the card, they should make it more competitive. Sure IHG has restructured it's rewards program now, but for years it's been among the worst rewards programs in the game. Add on top of that a credit card with the worst multipliers and it's insane to think anyone would actually use those cards for anything that wasn't IHG related. And even then you could still get better multipliers elsewhere.
Great video Ben!!
I'm surprised more issuers aren't limiting sign up bonuses to once in a lifetime, restricting number of cards a person can get, and other restrictions. Why would you ever cancel a no annual fee card? Or like already mentioned, an annual fee card before end of first year? Why even sign up at all, knowing there is a fee if that is why you cancel the card? As things tighten up with banks, expect more restrictions, thanks to churners and those that are stupid when it comes to playing games. I'm glad they are tightening things up for those that play the system.
New? Chase has already some of the strictest rules. I got approved for a Freedom Flex a while back and honestly I can't imagine paying an annual fee for their cards anymore. Totally understand anyone wanting to sock drawer them.
Man get outta here! I just applied for the CSP and got the 7-10 day message on the website but no emails? weird. I can't decide if I should wait and call recon tomorrow or call right away.
Thank you for the video is very informative. The world of Hyatt card sounds like a card to get but does it count against your 5/24
AmEx does a once in a lifetime welcome bonus (always do Platinum if you can). I also think these rules may extend to family members in the same address with Chase, and that they were also authorized users.
Re: the big umbrella rule – if I got my Freedom Flex this year (let’s say January), got the sign up bonus, then stopped using it after 6 months (June) because I switch to another card. If I decide to apply for a Sapphire in November, they can deny me because I stopped my FF?
So with chase reserve card do i have to pay for travel insurance on the flight and vehicles i rent with my travel points or is that done within chase card its self
Cant claw back the points if you`ve already used up all your points lmao. You can also just churn and not use up the card for months and let them automatically close it 😉
Chase sucks! I had 3 chase cards that I used all the time, and paid off each month. I was a day late paying a $15 payment one month and they dropped my limit from $15,000 to $500! When I called in, the representatives I spoke with said they never saw a drop like that for something so minor. I have "sock-drawed" all my chase cards and never ever use them now. My Amex, Citi and Capital One cards increased my limits, so they are my go-to cards now. I avoid chase at all costs now!
I do wonder if people that downgrade a Sapphire card to a Freedom card would be penalized in some way…
Got hit with 5/24 today so no Sapphire bonus either way
I am gonna downgrade my Chase Sapphire Reserve card, AMEX Platinum card and AMEX Gold card by next month. Because of the COVID and working from home all the time, there is really not a higher living expense such as traveling as before. I have not travelled for closed 2 years since COVID started and I have a baby. 🥲
I just applied for the IHG Premier Rewards Card last week and I received it in the mail today. When I applied for it, my plan was to get the bonus then “sock drawer” the card until I would plan a stay in an IHG hotel. Then I would use the card for any travel costs (gas and restaurants) around the time I was staying at the IHG property. I think since the “sock drawer” thing isn’t a good idea, I will probably use the card for gas and/or dining purchases periodically. I also have the Chase Freedom Flex card and I’ve been using it regularly since I got the card. I mainly use it for dining purchases and from April until now I was using it for streaming services. Now, I will be using the IHG card for almost everything I use a credit card for to help with reaching the minimum spend for the signup bonus.
Thank you for a great explanation! I found this a lot more clear and re-assuring the way you discussed things compared to other similar channels
I don’t see the issue with having a sock drawer card as long as you’re paying the annual fee each year… I would imagine this causes chase to lose some customers unfortunately
I usually don't stand with these companies, but it makes sense, you apply for a card with an annual fee, you might as well get what you paid for and use it a lot. I plan to use it for at least 2 years and then decide if I want to cancel it at 3 years, I can do so and my MR points should be safe since I have Amex EveryDay card. That's what I'm doing with my Green Card and using it a lot. I'm using it a lot and will do so even after meeting the minimum spend which I'm half way on my spending requirement on the Green card. Chase, I have a Freedom Unlimited opened 11 months and I plan to keep it and its my longest account. My only account that this rule would apply to is my Chase Amazon Prime Account opned back on December 30, 2021 even though its co-branded and not included in the terms that I know of, but you never know if Amazon and Chase would claw back my cash back earnings. Both my Chase cards are no annual fee accounts and I might as well also keep them since Chase is also my bank. I don't want to damage the relationship with my bank and especially with Amex. I hope Chase would let me get the Freedom Flex next. I look at Chase and especially Amex in the credit card game to be extremely prestigious
I'm not a credit card churner & never have been. I was never going to get any Hyatt card, or IHG card or any of the airline cards from Chase. I already have the Chase Sapphire Preferred & I'm 0/24. All I wanted to do is complete the Chase quadfecta (Chase Freedom Flex, Chase Freedom Unlimited & at least one Chase Business Ink card) before moving to the Amex quadfecta. Will this new language affect me being able to do that?
I was going to close all my Chase cards after 3 month, but if they're going to be like this, I'm closing them now, after 2 months!
I use every credit card I posses at the very least once per month just because I’m very mindful of not pissing off the banks so most of this will have no effect on me.
I got flamed a few months ago for saying that I will never be a Chase client. I wonder how are they feeling now 🤷🏻♂
Who the hell needs chase. The CC market is so competitive and diverse these days. They're irrelevant in my book.
Doctor or Credit has shown these terms have been there since 2017