Chase Ritz-Carlton Card Still Churnable and 5/24 Exempt

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!

Now to just slow it down before I get into the dreaded Chase review, I feel like Icarus with wings made of Credit Cards, but many have fallen flying too close to the sun as reported by FM.

(Edit): Here is where my credit limits stand with Chase:

Chase Card Opened Limit
United Club Jul-13 $5,000
Marriott Jul-15 $7,500
Hyatt Aug-15 $2,000
Amazon Jun-17 $9,000
IHG Jul-17 $1,500
Iberia Apr-18 $32,700
Ink + May-15 $26,500
CSP Closed $0
Britsh Air Closed $0
Total: $84,200

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

-Derp

 

6 Responses to Chase Ritz-Carlton Card Still Churnable and 5/24 Exempt

  1. How much is your total credit limit across all of your cards with Chase. My father’s total credit limit with all of his cards across Chase is $40,200. To get approved for the Marriott Card earlier in January, we had to shift $5,000 from our Chase Sapphire Preferred. We have applied for the Amazon Prime Visa Signature, which we had a total credit limit of $6,500 but canceled due to the poor rewards we were getting back on the card. We have also applied for the Chase Sapphire Preferred and Chase Freedom and got approved for both of those cards a month after we canceled our Amazon Prime Card. Around November, we got the Chase Ink Cash card. Then in January, we got the Marriott card. I guess we are at 4/24 now.

    • The reason why i didn’t get the Ritz Carlton Card is I wasn’t sure if Chase was going to keep it or not. I like the special JP Morgan benefits the Chase Sapphire Reserve doesn’t get but think its a poor choice going forward because Gold status is being significantly devalued. I guess Marriott realized they can’t have too many people getting Gold and Platinum elite status without any stays just by having the Spg, Ritz, and Marriott credit cards. This is understandable though as there would be nothing special about having Platinum or Gold status if too manh people had it. That’s why I guess at very high end Ritz Carlton’s, W hotels, St. Regis hotels, Jw Marriott’s, and fancy Marriott hotels, there are very few upgrades offered to Gold and Platinum members. There are just way too many. Now, in the new program, I think the only people who will actuallh be able to reach all of the top tier Platinum levels are those who regularly travel for business. This sucks because this is only a handful of people. Many who just travel once ina while for business and leisurewill easily make Gold status but it will suck as there will mo longer be free breakfast and guaranteed 4 pm checkout.

      • My understanding that we will have Platinum status from 01 Aug 2018 till 2019 as all the Gold SPG (From AmEx Platinum) linked to Gold Marriott will get that match. We would continue to get free breakfast for this year. Then after that we could just use our SPG Lux card and its 50,000 annual SPG points for a room, and our $300 annual Hotel credit to eat breakfast in our room. You are correct that this is a devaluation for SPG-Marriott, but we got the Hilton Aspire and the Diamond status lounges to go running to!

        Bring on the Hotel wars!

    • Make sure you transfer all the credit off a card you are about to close! I made this mistake with my CSP and my BA card. I told my banker what happened and she just shook her head. It’s hard to get extra credit from Chase so make sure you shift it over before closing accounts!

  2. Awesome work. Looks like you have 8 chase cards; do you know if there is an official or unspoken limit to the total number of accounts, like how amex limits to 5 credit cards?

    • I have 7 that are opened and 2 that are closed. I think that overall credit is the limit, not really the max number of products.

Leave a Reply

Your email address will not be published. Required fields are marked *