On my most recent (and un-planned) credit card churn, I applied for three rewards credit cards. The churn was prompted by an offer I couldn’t pass up for the Amex Premier Rewards Gold card at 50,000 points for $1,000 in spending within three months (twice as good as the standard offer). I didn’t know how long that offer would be around for, so I churned a few weeks earlier than I had originally planned. The offer was available via the card match tool on the creditcards.com site, and the last I checked it was still available if you want in on that.
Since I was now applying for a card that day any way, I also went for the US Bank Club Carlson card and the Chase British Airways card. You can read about why I wanted all of these cards in this post. The US Bank card was given instant approval, and the Amex Premier Rewards Gold card was approved the next day after a brief phone call from Amex verifying that I had applied for the card. It arrived via FedEx about a day after that. Pretty amazing if you ask me! The minimum spending requirement is already met since I had some flights to buy and wanted to take advantage of the 3x points on airfare, so now I’m just waiting for the 50,000 bonus points. Couldn’t be easier.
The only remaining issue was the Chase British Airways card. I was hoping if I just waited a couple days that it would get approved without any further intervention on my part. Recently, most of my personal Chase cards have worked that way. However, today I decided that I had waited long enough, so I called the Chase Reconsideration line at 1-888-245-0625 to check the status of my application and see what I could do to hopefully get the card approved. Million Mile Secrets has a good list of reconsideration phone numbers from the various banks.
The agent I spoke with was friendly, but pretty no-nonsense. She immediately wanted to count the number of Chase accounts I had – both business and personal. She then totaled up the combined credit limits of both my business and personal credit and charge cards with Chase. This was a number that was very important to her, especially relative to my annual income. She went through my activity on all of the cards and how high I have charged them in recent months and noted that they then were paid off each month. She asked info about my income, and also wanted information about my business. The questions were all very basic and included things like:
What is your personal income?
What is the name of the business you work for?
What does your business do?
How long have you been self-employed?
What did you do before that?
Who were you employed by?
Do you charge business or personal expenses on these cards?
As long as you were truthful on your initial application, most of these answers should be easy. She didn’t make any mention of my credit report or number of inquiries other than to say it seemed I was managing my debt well. By that I guess she means that I make my payments on time every month for exciting things like student loans, mortgage, car payments, and credit cards. Please don’t get rewards credit cards if you plan to incur debt on them – there are cards with lower interest rates if you absolutely must incur revolving credit card debt. She did say she was a bit nervous about the high amount of credit I had extended from Chase, but said that since I seem to be managing it, she would let it stand. However, she was not going to extend additional credit to me at this time since I was at the “limit” from Chase for my income.
I don’t really need more credit, what I “need” is another rewards credit card, so we both agreed to shift $5,000 in credit from other cards to open the British Airways card. She was happy to pull from business or personal cards as long as it wasn’t from a charge card (i.e., Ink Bold). For those curious, the minimum credit line to open the BA card was said to be $2,000. I was told that she would recommend approval for the Chase British Airways card pending the credit line being shifted away from the other Chase cards.
The whole call clocked in at 15 minutes and that included the time spent on hold while she typed up her recommendations. The actual question and answer period was probably around 5 minutes. Making reconsideration calls isn’t fun, but it isn’t really scary either. It’s just something you eventually have to do if you like to hold various rewards credit cards. At least with Chase, they really are there to help you try to find a way to get the card you want. It may mean shifting some credit around in order for them to not feel you are a risk with too much credit extended, but that is a small price to pay for “almost” free travel.
This unplanned churn clocks in at 3/3 with approvals without too much work on my part. How have your recent reconsideration calls gone? Were the questions similar to the ones I encountered? Have you found recon calls to be about the same as they were a few years back, or are they getting a little more comprehensive?
Disclosure: I do receive a commission if you are approved for a credit card using one of my affiliate links. As always, thanks for the support.