I just got approved for my second round of the Ritz-Carlton Card. I had the card previously (June 2015) and last week I downgraded it to a Marriott Premier Rewards Card with a $85 annual fee. I was on the hook for the $450 annual fee because I got the card after I joined (No SCRA waiver), but before September 2017 which would of given me MLA coverage. When I downgraded my card I was 80 days from my renewal date. I was surprised to receive a residual pro-rated annual fee credit of $98.75 remaining of the $450 annual fee I was charged back in July 2017.
If we take $450 a year and divide it out to 365 days for the year we are paying $1.23 a day for this thing! The prorated refund corresponds to the 80 days I had left of my annual fee from the day I downgraded the card (15 April 2018) till the renewal anniversary date of 04 July 2018. However the The real joke is on them because I some how was locked into the original $395 annual fee even when they jacked it up in Aug of 2016.
This refund covers more than the $85 annual fee for the converted Marriott product, and come July 2018 I should be getting the annual free night upon renewal. I originally applied for the product in branch but was denied because the product change for the existing product did not show in their system. I was told by my CPC agent to apply again in a few days.
I applied today and got the same dreaded message:
I called my CPC agent and they had me call 1-888-270-2127 to plead my case, and then I got approved! They explained to me that they would not extend any more credit and I had to come up with $10,000 minimum for the new card. All I had to do was move $5k from IHG and $5k from Hyatt.
Just like that I got a Marriott Card despite being 27 new cards in a 24 month period, as well as a MLA waived Ritz card. This means $300 a year for flight credits, $100 off Visa air discount, and two nights at the Georgetown Ritz for my Wife’s birthday!
(Edit): Here is where my credit limits stand with Chase:
To answer the questions in the comments I made the above chart. I don’t think there is a limit on number of cards per se, but certainly a ceiling to total credit issued. Too many accounts opened too quick, or too much spend will get your accounts frozen and/or shut down as reported by many sources. My CPC agent said that a limit of nearly $60k is above average for an Individual at Chase, not sure what the average is for a business. They are placing these account reviews and low limits to prevent bust-out fraud.
I hope that helps