Recap: Multi Ink Shutdowns, Award Planner Tool & More

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• Chase just announced higher delinquency rates which is only going to make them more skittish. I'm cutting back to 3 floats, 4 Inks max and 4-month intervals to be safe. And I'm only floating the MSRs.

• It'll be interesting to see what the new 'rule' is for ink velocity since it looks like 3 inks seems to be the new threshold for denials. Also seems like 90 days in between inks is too soon now.

• Meanwhile, todays headline over at VFTW blog -- "Instant Approval For Ink Business Unlimited 90,000 Point Offer (I Love It So Much I Got Another)""

  • LOL

  • I don't ever go by that guy. If you read his titles most are just clickbait, shock, he's like the Jerry Springer of travel blogs.

    • lol!! Agree!!

• Looking at a response to the original comment of DPs for shutdowns provides some further information that this may not be a pattern or increase in shutdowns. On all 4 shutdown DPs (one of the 5 DPs ended up just being a review), there was additional information that could point to the primary reasons for shutdowns.

  • I think the point is that the “additional information” happens to people every now and then but they weren’t getting shut down or the shut downs were so rare you didn’t hear about them. Now people are getting shutdown pointing to greatly increased on Chase churning. We all knew it was coming at some point, they are trying to get their profit margins back up, that’s likely the culprit behind referral bonuses halving. But they may be looking into stopping abusers now.

• TL;DR

  3 month velocity has been very safe as long as you kept your nose clean.

  It may be prudent to cut back to 4 months now.

• Are they shutting down all of your accounts or just closing out unused Inks?

• Hey William, Thanks for the heads-up! I saw some other posts this issue for new Ink approvals. The winds shift, so one must adapt. My last couple Ink apps required manual review and approval, along with moving credit from other Ink cards. And the Chase rep was unusually slow to call for approval.

  • Lower your credit limits and close out old Inks before applying. You can do everything over secure message.
    I lower my Ink credit limit to $3000 and try to have max 3 Inks open. I also lowered Chase Freedom credit limits.

    • Hi John, I agree.

• If I have many Inks, having opened them over many years and most of them are inactive, am I better off keeping them open or closing them? Better off as is either 1) improving my odds when applying for a new Ink and 2) reducing odds of shutdown?

  • I would close a few

• I had to call recon 3 times to get the SW Business card approved because of the 3 Inks that I have. I was only approved when having a rep call in-branch while signing up for a business checking account. Should I just start closing Inks on my own?

  • If you are hoping to get more inks then yes, you should. Try to spend a bit more than the SUB, maybe throw $100 on there every few months, and then when the card has been open for 365+ days send a secure message and request that it be closed.

• If you want to be safe, may be going into branch would help to prevent shut down.

  • Why would this help? Local branches aren’t generally involved in any of the processes or investigations that could lead to a shutdown