Question Of The Week: When Can I Apply For Another Chase Card?
Our question of the week: when can I apply for another Chase card? This question was specifically about cards within the same family, but I want to take it broader for others have a similar question. If you are wondering when you can apply for another Chase card – whether a card you had previously, your next card, or a card in the same card family – read on. Here we go.
The Question
Our question comes from Randy in our Facebook group:
Alright, so I’ve sat on the fence way too long with the possibility of chasing Globalist that now I’m in paralysis of analysis with the basics…
Currently 3/24 with the legacy card…is it feasible to cancel and reapply a week later to grab a new WoH card before 12/31 for the 50k, regardless of chasing status?
There are a few pieces within this question:
- Earning Hyatt Globalist status (top tier)
- Chase credit card application rules
- Applying for / opening the newer Hyatt credit card after having the older version
We’ll tackle each of these in turn.
Earning Hyatt Globalist Status in 2021
Randy’s question likely stems from Marks’ analysis of the shortcut to Globalist status in 2021. With reduced requirements (half the nights normally required) and double nights earning, it’s easier than ever. Add on a temporary promotion that ran for those opening the World of Hyatt Credit Card from Chase, you could be well on your way. That brings us to our question about applying for / opening the card.
Chase Credit Card Application Rules
From our master list of credit card application rules, we know that we need to follow 2 rules with Chase. First, the 5/24 rule (automatic denial if you’ve opened 5 or more credit cards in the last 24 months). Randy is at 3/24, so this is fine. The second rule we want to follow is 2/30. Chase will not approve you for more than 2 credit cards in a 30-day period. Make sure you meet this rule that is less discussed than the 5/24 rule but still important. If we meet those rules, we can apply for another Chase card.
Can I Apply For Another Chase Card In The Same Family?
Chase has a few cards that are in the same “family”. There are several cards that earn with United Airlines or with Marriott hotels, for instance. There are also 2 credit cards that earn with Hyatt. The “older” card (Hyatt Credit Card) is not open to new applicants. This is what Randy has. The new card, referenced in the question, is the World of Hyatt Credit Card. You can read our analysis of this card here. It’s worth noting that everyone who has the older card will be upgraded to the new card on January 11, 2021, so you might want to close it if you’re looking to get the new card & its welcome offer.
Chase has different rules for the different families of cards but they have been restricting them more and more. You can no longer carry multiple personal Southwest cards at the same time etc. They have the same rule in place for the Hyatt cards as well. Randy would need to close his old Hyatt legacy card before applying for the World of Hyatt card.
Sub-Question: Opening A Credit Card That You Had Previously
There’s a sub-question to address here. If you’ve had a certain credit card before, can you open it again and earn the new card member bonus again? Answer: it depends.
With American Express rules, sign-up offers are typically “once in a lifetime”. Data shows that “lifetime” is more like 7 years, though.
With other issuers (such as Chase), you CAN get the same welcome offer again. For chase, most of their terms will say something like “You are not eligible if you have received a welcome offer on this card in the last 24 months”. Note that their various Ink business cards don’t have this. I personally have received the same welcome offer / new card bonus on several of their ink cards more than once on the same card.
What that means for our question: if the terms say you can’t get a new account welcome offer again in 24 months, then you need to wait that amount of time. If it doesn’t, you should be ok. If you currently have the card, though, wait 30 days after closing it before you apply again.
So, yes, you can get the “welcome offer” on the same card more than once. It depends on meeting the bank’s application rules and then any specific terms, such as frequency of receiving a bonus of new account welcome offer.
Final Thoughts
With the separate Hyatt cards in Randy’s original question, you can not carry both at the same time. You can upgrade from one to the other (though we advise against it, since getting a welcome offer on opening a new card is much better). If you need to close a card and want to get it again, wait 30 days to be sure. Randy should be good to go on the card he wants and should be off to the races for Globalist status in 2021.
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I was wondering the same question that was posed in this article. I have the legacy card and was thinking should I cancel it and re-apply to get the big bonus. It looks like garettg found the fine print. You would have to cancel the old card first. It doesn’t seem like you can just apply for the WoH card while holding legacy (I guess that makes sense since they are upgrading the old to the new card on Jan 11th – otherwise you would end up with 2 WoH cards. I still may cancel in the next few months and re-apply to get the bonus. I have had the legacy card for probably 10 years so I would think I would be eligible for the bonus.
Yes you shouldn’t have an issue with the bonus requirements if you close the card you currently have. You only need to be 24 months from the last welcome offer and you are well past that :). As Ryan said, it is probably best to wait about 30 days from closure to new application just to be safe.
You can not be approved for the new World of Hyatt card while being a card holder of the old legacy Hyatt. From the application terms…
“The product is not available to either (i) current Cardmembers of any Hyatt Credit Card”
That is correct – I updated the post. Thanks
My reading of the terms for the World of Hyatt card is that you won’t be approved if you have the old Chase Hyatt card :
“The product is not available to either (i) current Cardmembers of any Hyatt Credit Card, or (ii) previous Cardmembers of any Hyatt Credit Card who received a new Cardmember bonus within the last 24 months.”
You are correct Ben. You can not carry both Hyatt cards at the same time, much like the Southwest rules. I have updated the post – thanks
This is wrong with respect to the two hyatt cards. The new one’s offer specifically excludes anyone who currently has a hyatt credit card, regardless of type and there are numerous reports that Chase will not approve the new one while old is open (i.e., not just the sign up offer). There is also a waiting period after closing that it is suggested to wait 30-45 days. My wife closed her old one on 12/14 and reapplied today after credit reports showed old card closed (one suggested data point on how long), but application is currently pending review. At this point, particularly if you don’t have pending stays, then I would suggest waiting to cancel until the changeover, taking the elite nights, then cancel in a month or two, reapply 2+months later or whenever a good sign up bonus shows up.