This miles and points travel hobby isn’t always smooth sailing. Sometimes, we hit some roadblocks. It’s important to keep some perspective and pivot as necessary.
Denied for Chase Iberia Visa Signature Card
Earlier this month, I posted that the 3 Chase Avios-earning credit cards have welcome bonuses of 100,000 Avios after spending $7500 in the first 6 months. This is the offer I’ve been waiting for!
I recently became eligible (or so I thought) for a new Chase card according to the Chase 5/24 rule (Chase will not approve you for a new card if you have opened 5 or more new credit cards in the last 24 months). I even proactively lowered the credit line on one of my Chase cards to ensure I would have enough room to add another credit card. These Iberia Avios would help me get award tickets from DFW to Europe in 2026, which I will book in May 2025.
Unfortunately, and much to my surprise, I was denied. What?!?! The letter I received from Chase stated I had too many recent new accounts (i.e. more than 5 new accounts in the last 24 months). Had I not been properly tracking my 5/24 status?
I decided to pull my credit report on freecreditreport.com. I immediately saw the problem: my Capital One Spark Cash Select business card that I opened last year was on my personal credit report. Dang it! Most business credit cards do not show up on personal credit reports, but some Capital One and Discover business cards do. I actually knew this when I applied for the Capital One Spark Cash Select card, but I forgot. If I had looked on my Travel Freely app (affiliate link), I would have noticed that my 5/24 counter included my Capital One business card.
Since I’m not one to give up easy, I called the Chase reconsideration line to try my luck. The phone rep reiterated Chase’s 5/24 rule, and said that if a business card was included on my personal credit report, it does count.
What next?
Getting a credit card denial is not the end of the world. In the near future, I will apply for a non-Chase credit card with an attractive welcome bonus. I’m not sure yet what that card will be. But, there’s plenty of other fish in the sea.
Author: Nancy
Nancy lives near Dallas, Texas, with her husband and three kids. Her favorite vacations include the beach, cruising and everything Disney.
It’s Chase’s business, but it certainly doesn’t make sense for many possible customers. I don’t even apply with Chase any longer. There are many other options.
Curious to know what your credit score from Chase says?
When I check my credit score from the chase app, it seems to take months before it reflects the current state of what makes my credit score. For instance, when a credit card drops off after 2 years, chase app still maintains it there for months afterwards. Same thing when I payoff my credit card balance. Other apps like Capital One reflects changes almost immediately.
@GBSanDiego That’s interesting that you see differences. I haven’t compared in depth. My FICO score in my letter from Chase was higher than it was in free credit report.
I hadn’t thought of that. Sorry it happened to you but good of you to share the warning.