I have a feeling that someone here did pull off a MDD recently, but my memory is failing me on just who it was.
I agree with
@wanderlust7 in expressing caution. The MDD works, but there are a lot of things that have to go right for you to pull it off successfully.
Before attempting a MDD, you should put yourself in the best possible position to be insta-approved, without having to call into a human to push either app to approval. That means, one, following
@SouthFayetteFan ’s guidelines for pacing and velocity, so you aren’t denied for too many recent cards, inquiries, or new lines of credit.
You should also reduce your overall credit lines on Chase personal and business cards to <50% of the household income that you report on your applications — the lower the better to increase your odds of Chase approving you for more credit. If you’re at or over 50% of household income, or if your total credit lines with Chase are objectively high, as in >$70k, Chase weighs that as a risk and will either deny you for sufficient credit extended, or be very conservative with the amount they give you. Considering the CSP requires a $5k credit line to open, and the CSR requires a $10k credit line to be approved, you don’t want Chase’s computer thinking it’s already given you enough credit. Cut the credit lines on your cards to whatever keeps you comfortable, but with enough room to open potentially $15k or more in new credit lines. I think, if you’re considering applying for a CSR, Chase has been known to give out crazy high limits on that card, e.g., $20k-30k+, which could impact how much room you have left for Chase to approve you for a second card in the MDD.
You should go about reducing your credit lines at least a month before you plan to apply, because while you can make a request to reduce your credit line on whichever card to whatever amount via SM, and a Chase rep will respond that they’ve lowered your credit line effective immediately, the lower credit lines aren’t reported on your personal cards to the credit reporting agencies until the close of that card’s statement or unless you pay off the current balance on that card. So even though you’ve reduced your credit limit, and it’s effective immediately in Chase’s system, when Chase’s computer pulls your credit report when you apply for a new card, they may still see the higher credit limits if your reports haven’t had enough time to update.
What was true in a DD still applies on a MDD — apply for the card you want more first because a second card is not guaranteed, especially if you’re using a MDD to get around a rule like the one Sapphire bonus rule.
Ideally, you’re approved for Card #1 on the same day you apply, but if not, you need to check status line every day. Once you’re approved for Card #1, apply for Card #2 the
next calendar day after approval of Card #1. Hopefully, you’re approved for Card #2 instantly, but if not, you’ll need to call in to get it approved on the same day as your app. If you’re using the MDD to skirt around the one Sapphire rule, a Chase rep may deny you if they see Card #1 was another Sapphire card that was approved. You’ll then need to HUCA and hope you get a rep who won’t see Card #1 and will approve Card #2 for you.
Hope this helps.
and me at the end
I added it then read fine print. I don’t need a membership. I just have a friend who lets me order Disney GCs online with hers.
