I had the Hyatt card then cancelled it in order to get the Marriott with the hopes that I could get the Hyatt card again before the mythical 5/24 rule took over. I applied and an hour later was still on hold with Chase. This was the longest recon call next to my most resilient recon call with Wells Fargo.
The questions kept coming one after another: Why do you have 12 new cards on your account? Are you in financial distress? Why do you have so much credit with Chase? Why do you want more credit? Why do you have cards with Chase that are open that you do not use?
Clearly, this representative was meticulous so I explained everything in a thorough, candid way. Let’s take one question at a time:
- Why do you have so much credit with Chase? I’ve been banking with Chase since they were Bank One and one of my first credit cards was with Chase. Over the years I have built a strong relationship with Chase and have never been late on a payment or carried a balance.
- Why do you have cards with Chase that are open that you do not use? I know I have cards like the Slate that I do not use but I was told that keeping these older cards open raises my credit score by elongating my credit history.
- Why do you have 12 new cards on your account? As a business traveler, I’m almost forced to have so many cards and I am almost forced to keep up with the new ones in order to save money. I know that on the surface that may not make sense but let me give you some examples. I’m in New York now so I fly United. If I don’t have the United card and need to check my golf clubs then I have to pay for baggage fees. I used to stay at SPG hotels the most but now with the merger I am switching to Marriott and that card may come in handy. The same is true of the Hyatt card which gives me late checkout and other great benefits that I would not receive if I didn’t have it.
- Are you in financial distress? The only stress I have is knowing that I have to spend $1 on this card to get this point and $1 on that card to get that point.
- Why do you want more credit? I certainly do not want more credit. My reason for opening this card is for the benefits alone. I’ll gladly shift credit from one card to another.
Ultimately, I was approved. Now, more than ever, it is critical to know everything that appears on your credit report and to make sure you have logical, honest reasons as to why you are applying for the card in the first place.