I Got Declined for a New Chase Sapphire Card. Here's What Happened Next

For a long time, I didn't think rewards credit cards were right for me. I was worried that navigating the world of credit card reward points would take too much time and energy, or it wouldn't be a good enough deal.

But recently, I have started to fully realize why people love rewards credit cards, and I want in on the action! I decided to get started with travel rewards cards in 2024, because I love to travel. Earning free travel from my everyday spending sounded like a great idea. The best travel rewards cards can help you get free airline tickets, free hotels, upgrades to business class, free airport lounge passes, and more.

So I decided to start by applying for Chase travel rewards credit cards -- three in one month. Here's what happened.

What happens when you apply for three credit cards in one month

To begin my credit card rewards journey, I decided to sign up for the Chase Trifecta. My original goal was to earn the welcome offer from the Chase Sapphire Preferred® Card. This is 60,000 bonus points if you spend $4,000 within the first 3 months of opening the card.

But then I got greedy: I saw the special welcome offer from the Chase Freedom Flex℠ credit card ($200 bonus if you spend $500 within the first 3 months). And then I learned about the everyday bonus points multiplying power of the Chase Freedom Unlimited® -- unlimited 1.5% cash back on all purchases, plus 3% on restaurants.

I quickly applied for (and got accepted for) the Chase Freedom Flex℠ and the Chase Freedom Unlimited® cards (hooray!) But I really wanted that Chase Sapphire Preferred® Card with the 60,000 bonus points. So, a mere nine days after opening my first two Chase credit cards, I applied for it.

As it turns out, applying for three credit cards in less than a month is not always a great idea. I got declined for the Chase Sapphire Preferred® Card.

Why I got declined for the Chase Sapphire Preferred® Card

Not to brag, but: I have a FICO® Score of over 800. So I thought I would easily get approved for three credit cards in one month. But the notice I received from Chase said that I was being declined for the Chase Sapphire Preferred® Card because of "Too many requests for credit or opened accounts with us."

Why was my Chase application declined? Banks get nervous when people try to open too much credit, too fast. Being too eager for credit cards makes you look like a risky borrower who might rack up debt, and then not pay it back.

There are two semi-official rules of applying for credit with Chase that I didn't know about:

Chase 5/24 rule: Too many new credit cards

One big rule of applying for Chase credit cards is the Chase 5/24 rule: If you have opened five credit accounts within the past 24 months, Chase will not approve your application for a new card. (This rule is not why I got declined; I had only opened two new credit cards in the past 24 months.)

Chase 2/30 rule: Too many new cards in one month?

Some credit card experts believe that Chase is also likely to decline new card applications if you have opened two credit cards within 30 days. This is known as the "2/30 rule." Because I had just opened two new cards, Chase was reluctant to let me open another.

But this 2/30 rule is not an official policy and it's not ironclad. Sometimes there are exceptions, and I have exceptionally good credit. So I asked Chase to reconsider my application.

How I got approved for the Chase Sapphire Preferred® Card

My plan to get the Chase Trifecta was so close to fruition. I had excellent credit, ample cash flow, money in the bank -- I decided to give it one more try. So I called the Chase customer service "reconsideration line." This is a special customer service team to contact if you want Chase to reconsider its decision to decline your credit application: call 1-888-270-2127 (for personal credit cards). I was told that you have the right to ask Chase to reconsider its decision for up to 30 days after your credit application.

When I talked to the Chase reconsideration team, I told them that the first two cards that Chase had approved for me had much higher credit limits than I needed. So I asked Chase to reduce those two credit limits by a combined $16,000. Then I asked the bank to reconsider me for the Chase Sapphire Preferred® Card -- based on "freeing up" that credit limit space.

After sitting on hold for a few nerve-wracking minutes, it worked! I got approved for the Chase Sapphire Preferred® Card. And now I'm well on my way to earning 60,000 bonus points from that generous welcome offer.

Bottom line

If your credit card application gets declined, you can ask the bank to reconsider -- especially if you can offer more details about why you're creditworthy, or ask to reduce your credit limit.

Keep in mind that even the best credit cards have risks as well as rewards. If you overspend or fail to pay your balance in full, you could rack up interest and fees that aren't worth the reward points. But I love these cards. Chase rewards credit cards have turned my everyday spending into a fun hobby that helps me get free airline tickets and other travel perks.