I didn’t think rewards credit cards were for me for a very long time. I was concerned that it wouldn’t be a good enough offer or that it would take too much time and effort to navigate the world of credit card reward points.
But lately, I’ve begun to see why credit cards with incentives are so popular, and I want in on the fun! Due to my passion for travel, I made the decision to begin using travel rewards cards in 2024. It seemed like a brilliant concept to get free trips by earning from my regular purchases. With the top travel rewards cards, you may receive complimentary hotel nights, business class upgrades, airport lounge access, and more.
I therefore made the decision to begin by applying for three Chase Travel Rewards credit cards in a single month. This is what took place.
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What occurs if you submit three credit card applications in a single month?
I choose to sign up for the Chase Trifecta in order to start my credit card rewards adventure. Initially, I wanted to obtain the Chase Sapphire Preferred® Card’s welcome promotion. If you spend $4,000 during the first three months of opening the card, you will receive 60,000 extra points.
However, my greed took over when I noticed the Chase Freedom FlexTM credit card’s special welcome offer, which is a $200 bonus after spending $500 in the first three months. Subsequently, I discovered the daily bonus point multiplier of the Chase Freedom Unlimited®, which offers an infinite 1.5% cash back on all transactions in addition to 3% on dining establishments.
I applied for the Chase Freedom FlexTM and Chase Freedom Unlimited® cards right away, and I was approved! Yay! However, the Chase Sapphire Preferred® Card with the 60,000 bonus points was what I truly desired. I applied for it therefore, just nine days after getting my first two Chase credit cards.
It turns out that it’s not always a good idea to apply for three credit cards in less than a month. My application for the Chase Sapphire Preferred® Card was denied.
Why my application for the Chase Sapphire Preferred® Card was denied
I have a FICO® Score of above 800, not to boast. Thus, I assumed that getting accepted for three credit cards in a single month would be simple. However, I was notified by Chase that my application for the Chase Sapphire Preferred® Card had been denied due to “too many requests for credit or opened accounts with us.”
Why did Chase reject my application? People who attempt to open too many credit accounts too quickly worry banks. Overly eager to apply for credit cards gives the impression that you are a risky borrower who might accumulate debt and then be unable to repay it.
I was unaware of two semi-official guidelines when applying for credit with Chase:
