Yes, the anniversary certificate will be good for a property up to 35,000 points vs only 25,000 points if you stick with the current version of the card.I haven't made up my mind if there are enough benefits, I guess I should read it again. Is the anniversary certificate an upgrade?
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How long is it taking for those who applied or upgraded to new card to get physical card in mail? DH applied 9 business days ago for Premiere plus and no card yet.
Called Chase and rep said our cards were just mailed out, and delay was because they had run out of plastic & metal card stock due to high card demand. Huh? This is the same reason given last year for the Chase Sapphire Reserve cards. Didn't they learn? Or just a pat answer? We already have an automatic $95 charge on our account for card annual fee.
The question is whether you will get the 100K Reward points bonus since you cancelled your old to get the new.I was able to get a new credit card account (Premier Plus) approved. Here are the steps I followed:
1. Chase has what is called a "5/24 rule." This means that for most of their credit cards, they will not approve a new account if you have had more than 5 personal credit card approvals within the past 24 months. I verified (from my records) that I was under 5/24.
2. Cancel my old Marriott Premier card. However, before closing the account, I asked the phone rep to move the existing credit line on the Premier card to another of my Chase cards.
3. I then waited a few weeks and checked my Experian credit report (using the Experian website). I saw that the old account was no longer listed as an active account at Experian. (It still shows up as a closed account if I log into my Chase account, however.) I waited about 3 1/2 weeks, but I realize now that I could have checked Experian sooner. I now believe that this is the key - the old account must no longer show as active. A 30 or 60 day wait is not crucial so long as the old account is no longer active on your credit report.
4. I had my wife refer me for the Premier Plus (which should be 20K points for her) and then I put in my app. I already had a large amount of credit with Chase so, as I expected, the application went pending. I got the "we'll let you know within 30 days" message.
5. I called the Chase reconsideration line 1-888-270-2127. Bank reconsideration numbers are available here: https://www.doctorofcredit.com/credit-cards/credit-card-reconsideration-line-telephone-numbers/. The rep told me that I could not be approved for additional credit (that is, I am already at the maximum overall credit line that Chase will allow for my income level), but it would be possible to gain approval by moving some of the credit line from one of my other Chase credit cards. After moving some credit over to make room for a new Premier Plus card, I was quickly approved.
Now the next decision will be what to do about my wife's old Marriott Premier card (upgrade or cancel and reapply)....
1. Chase has what is called a "5/24 rule." This means that for most of their credit cards, they will not approve a new account if you have had more than 5 personal credit card approvals within the past 24 months. I verified (from my records) that I was under 5/24.
The question is whether you will get the 100K Reward points bonus since you cancelled your old to get the new.
The question is whether you will get the 100K Reward points bonus since you cancelled your old to get the new.
I thought the rule was the application would be denied if you opened 5 or more cards (versus more than 5 cards). Thus, you can only have 4 cards opened in the last 24 months.
I just signed up for a new card....
I want to cancel the card after one year. Should I cancel just BEFORE my year is up? I don't want to get charged another $95 fee for the card - just for the first year. I don't care about the free night, so if I miss out on that, it's fine. I just want to make sure I avoid a second $95 annual fee. I've never had to pay for a credit card before so I'm not sure when next year's annual fee gets charged.
The largest impact we had on our credit score was when we paid our MF for Marriott due to the higher than normal charges. I think it was about 50 pts lower which makes sense since usage is one of the 3 high impact areas.On either my Chase or AMEX account I was able to click on a link to my credit score. That also presented me with a tool that let me play with adding new cards or loans, changing credit lines, cancelling oldest card, etc., to see the impact on my score.
My score is in the same range as yours and I think the worse impact was maybe 30 points at most. Utilization seemed to be the key factor, the lower the better. With a long credit history even cancelling my oldest card didn’t severely impact score.
We have seven credit cards, some are personal and several are business. With these 7 credit cards, we have a $400K - $500K credit line and our credit rating is still about 825-850 depending on the day. We pay off our balances every month and never carry a balance. We have 3 of the old Marriott Rewards Cards (1 personal and 2 business), a United Airline business CC, an Alaska Airline personal CC, and an American Airlines CC (1 business and 1 personal). My DH says we have too many credit cards and he thinks it hurts our credit rating to keep opening new cards for points. Yet, I only see a temporary credit rating decline and then our credit rating goes back up again. I have not been too interested in the Chase Sapphire Reserve card but The Points Guy continuously says it is the best. What are Tuggers recommendations regarding how many CCs to have and which are the best?
I don't think it hurts your credit rating but it could affect your interest rate and other loans. If you do carry a balance they can often just jack up to the max interest based not their perception of your risk. Opening new cards and other debt increases can trigger this. It can also lead to loan calls and increased rates on insurance and the like.We have seven credit cards, some are personal and several are business. With these 7 credit cards, we have a $400K - $500K credit line and our credit rating is still about 825-850 depending on the day. We pay off our balances every month and never carry a balance. We have 3 of the old Marriott Rewards Cards (1 personal and 2 business), a United Airline business CC, an Alaska Airline personal CC, and an American Airlines CC (1 business and 1 personal). My DH says we have too many credit cards and he thinks it hurts our credit rating to keep opening new cards for points. Yet, I only see a temporary credit rating decline and then our credit rating goes back up again. I have not been too interested in the Chase Sapphire Reserve card but The Points Guy continuously says it is the best. What are Tuggers recommendations regarding how many CCs to have and which are the best?
I don't think it hurts your credit rating but it could affect your interest rate and other loans. If you do carry a balance they can often just jack up to the max interest based not their perception of your risk. Opening new cards and other debt increases can trigger this. It can also lead to loan calls and increased rates on insurance and the like.
While FICO keeps how they arrive at the score secret, Credit Karma says that the % of debt you use compared to what you have, payment history and any neg marks (bankruptcy and the like) are major impact areas. Moderate impact would be how old the credit history is and low impact would include the total number of accounts and hard inquiries. So new cards would hurt the credit age and hard inquiries. We swapped out a Marriott Rewards Chase card to my wife along with changing our MVC rewards # to get the status upgrade since I am lifetime Platinum, it dipped a little I'm thinking it was 20-30 points, it dropped more when we paid the fees the turn of the year.
Well, it looks like this new card that gives you 35k points toward a room will no longer get you a Cat 5 room starting in 2019.
It's going to take 40k points according to this chart I just received via email.
Well, it looks like this new card that gives you 35k points toward a room will no longer get you a Cat 5 room starting in 2019.
It's going to take 40k points according to this chart I just received via email.
They want you to upgrade to the new card that will guaranty a cat 5 night.Well, it looks like this new card that gives you 35k points toward a room will no longer get you a Cat 5 room starting in 2019.
It's going to take 40k points according to this chart I just received via email.