Chase Kills Another Loophole: The Double Dip is Kaput
Chase has been making moves lately to limit signup bonuses on credit cards. The most recent was the change of the bonus restriction from 24 months to 48 months. Now there’s some more bad news, but this one is not a rule change, just a loophole that has been closed.
For a long time it has been possible to apply for two Chase cards at the same time to get around some restrictions. For example if you were at 4/25 it meant that you could only apply for one more Chase card that was affected by the Chase 5/24 rule. By applying for two cards at once you would be able to squeeze in another card and get around that rule.
Or another scenario would be for cards of the same family, which are restricted to one bonus for every 24 or 48 months. By applying for two cards at once you could get the bonus on two cards of the same family.
Chase Double Dip is Dead
based on recent data points, this loophole has been closed. There’s plenty of reports on Reddit and Doctor of Credit showing that Chase is manually reviewing these applications and closing one of the cards. In some cases Chase is just closing one of the cards without consulting customers at all. In other cases you get to choose which card you want to keep.
Conclusion
This was a good opportunity to squeeze in an extra application with Chase. It seems that it’s no longer possible at all. So it would be safer to just apply for the card you want to avoid getting stuck with your second choice if Chase just decides for you which card to close.
Have you tried this recently? Let us know in the comments!
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I did this in April. Any data points on how far back they are reviewing and closing?
I think this is for new applications and going forward.