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I was going to pass on this deal... applied for too many CCs lately and just recently canceled 2 relatively 'young' Chase SW cards. Didn't want to push my luck.

So, I open the thread.
Then I fire up the calculator and start estimating how much I could get back with 5% for 6 months.

5 minutes later, I'm an AARP member and approved for the card

Thanks, OP. I think.

cashmonkey said:   diljs said:   nymgiants said:   found out limit was 8000. tried to move credit lines from my contintnal card or chase freedom cardbut the rep on the phone said chase dosne't offer this service. Has anyone had any luck reallocating lines, if so, howChase hasn't been willing to reallocate for years.Not true.
Try calling the lending department at 888-298-5623.
I successfully reallocated from a Flexible Rewards card to a new Freedom card after answering a few questions about employment, income and existing debt.

Caveat: they may end up reducing your credit lines if they don't like your answers.


I did the same thing last week. It was a big credit limit too, took five minutes over the phone.

thetobster said:   lilslyk said:   Applied and deferred. I'm surprised I wasn't denied altogether...I have previously been denied due to an "unsatisfactory history" with Chase. I guess they didn't like hundreds of thousands of dollars worth of Amazon.com purchases on the Amazon.com visa (which gave 3% back).

hundreds of thousands of dollars? What could you possibly have been buying?


We're going to try our best with the AARP card, but I don't know how many will reach the glory of hundreds of thousands of dollars.

I can picture the following news story in a few months:

"In other news, in a strange twist of events, AARP said it added 30,000 new members in the last few months. Perhaps even more strange is the fact that most of these members are not in their traditional demographic, almost all of them are under 50! AARP confirmed that a member didn't need to be 50 years old, but this many under 50s joining in such a short period of time is unprecedented in organization history. Could this development signal the beginning of a new trend where people think about retirement earlier?"

clearanceman said:   I can picture the following news story in a few months:

"In other news, in a strange twist of events, AARP said it added 30,000 new members in the last few months. Perhaps even more strange is the fact that most of these members are not in their traditional demographic, almost all of them are under 50! AARP confirmed that a member didn't need to be 50 years old, but this many under 50s joining in such a short period of time is unprecedented in organization history. Could this development signal the beginning of a new trend where people think about retirement earlier?"


They probably wouldn't even notice a fat wallet effect of 30k:

I sometimes do wonder how many of us do apply for these cards and use them as some of us do?

************************************************************************************************

How many AARP members are there?

35.7 million.

As of February 19, 2010, there are 35.7 million members of the American Association of Retired Persons or AARP. This is according to a press release published by the AARP on the same date.

dj said:   clearanceman said:   I can picture the following news story in a few months:

"In other news, in a strange twist of events, AARP said it added 30,000 new members in the last few months. Perhaps even more strange is the fact that most of these members are not in their traditional demographic, almost all of them are under 50! AARP confirmed that a member didn't need to be 50 years old, but this many under 50s joining in such a short period of time is unprecedented in organization history. Could this development signal the beginning of a new trend where people think about retirement earlier?"


They probably wouldn't even notice a fat wallet effect of 30k:

I sometimes do wonder how many of us do apply for these cards and use them as some of us do?

************************************************************************************************

How many AARP members are there?

35.7 million.

As of February 19, 2010, there are 35.7 million members of the American Association of Retired Persons or AARP. This is according to a press release published by the AARP on the same date.


They'll definitely notice. This promotion is tied to membership, they let that card on their site partly to increase membership. For existing members too, obviously but also to get new members. Since you have to enter your membership number when you sign up, they know exactly how many new members they got who applied for the card. They don't know if one caused the other, but they have a good idea.

AARP is making out on this deal and obviously we are too. AARP gets thousands of new members (X $16 and the legislative clout that more membership brings) plus the kickback on the card (I didn't look, I assume kickback). At the very least they got paid a lot to put the card on their site. We make out. Chase? Don't want to speculate other to than to say I bet the promotion ends soon and they never do it again. I think Citi already learned their lesson in this regard.

SUCKISSTAPLES said:   The new reporting requirements are over 200 transactions and over $20,000 volume.

But that does not mean they CANT report lower amounts, just that they MUST report accounts with equal or higher amounts.

http://www.fatwallet.com/forums/finance/1029619/


You sure it's AND and not OR? BTW, I need a mentor, self employed, lost my biggest gig, still have excellent credit, wife works, three kids, etc. Is there a line for mentorship?

cashmonkey said:   diljs said:   nymgiants said:   found out limit was 8000. tried to move credit lines from my contintnal card or chase freedom cardbut the rep on the phone said chase dosne't offer this service. Has anyone had any luck reallocating lines, if so, howChase hasn't been willing to reallocate for years.Not true.
Try calling the lending department at 888-298-5623.
I successfully reallocated from a Flexible Rewards card to a new Freedom card after answering a few questions about employment, income and existing debt.

Caveat: they may end up reducing your credit lines if they don't like your answers.


I just used this number to successfully move some of my credit limit from my Chase Cash Plus Rewards card( I had it for a few years) to my brand new not even received card yet Southwest Airlines Rapid Reward that I got e-mail approval yesterday (very small credit limit of $1,000)
in about five minutes. They only asked to verify income, then went on hold for about 4 minutes to verify credit then came back with instant approval.Edit....(It showed up online when I logged off and then logged back on 5 minutes later with new credit limits)

Reallocation successful for me as well calling the Lending Dept. directly. My entire CL from another card was moved over to the AARP card with no reduction in credit lines. They only did a soft pull.

For those that were approved has your new card showed up on your Chase account? I was approved yesterday and mine is still not showing up.

john66 said:   For those that were approved has your new card showed up on your Chase account? I was approved yesterday and mine is still not showing up.DW and I were both approved Sunday; both of our cards showed up this AM.

clearanceman said:    We make out. Chase? Don't want to speculate other to than to say I bet the promotion ends soon and they never do it again. I think Citi already learned their lesson in this regard.it took citi a lot longer than 6 months to learn their lesson. I think CCR was running for almost two years, and I'm not sure Chase is that much smarter than Citi in that regard.

Got a $8000 limit.

glxpass said:   cashmonkey said:   diljs said:   nymgiants said:   found out limit was 8000. tried to move credit lines from my contintnal card or chase freedom cardbut the rep on the phone said chase dosne't offer this service. Has anyone had any luck reallocating lines, if so, howChase hasn't been willing to reallocate for years.Not true.
Try calling the lending department at 888-298-5623.
I successfully reallocated from a Flexible Rewards card to a new Freedom card after answering a few questions about employment, income and existing debt.

Caveat: they may end up reducing your credit lines if they don't like your answers.

Great advice and I can say that it worked for me, although I first requested a CLI and was transferred to the lending department after the CLI was declined.

The background is that I applied for the AARP card by phone on Sunday and was instantly approved for a $5.5K CL. I was given different information by three different credit advisors, but the information came down to this (which I believe, based on prior experience): if you are approved for the absolute minimum $500 CL for the card, you *might* be qualified to have other Chase Credit Cards (even business cards) re-allocated or consolidated to the AARP card. The other thing I learned is that my best chance was probably to talk with "loan operations", I believe AKA "the lending department." I was told they are only available M-F.

So early this afternoon I called another personal credit advisor. At first, I was told that the AARP card wouldn't allow re-allocation or consolidation into it, period. I questioned this, she spoke with a supervisor, and the supervisor added the bit about certain people qualifying for the re-allocation and others not, based on a letter that explicitly would give you that option. In reality, I think it's approval for the minimum CL that triggers this situation -- if you've other Chase CCs. The advisor said she couldn't transfer me to a supervisor at that time.

Since I've a couple of business cards with Chase, I decided to speak with a business credit advisor and see if I'd get more flexibility with one of them, requesting re-allocation or consolidation of one of my business lines to the AARP card. Although the advisor couldn't help me, he transferred me to a business CC supervisor who did.

The supervisor said I could request a CLI and if it were denied or granted for a lower amount, I could get transferred to the lending department and discuss the situation with them. That's exactly what happened. I was denied for a CLI to $25K (and of course received a hard credit inquiry), was transferred to the lending department, and was asked for HHI, my employer's name, and length of time at my employer. I also said I really wasn't looking for additional credit with Chase, just moving some of it over to the AARP card. The lending department rep reviewed my other Chase accounts, noted that my Sony card ($25.5K CL) was inactive, and asked if I wanted to close that card and move its CL to the AARP card. I said "yes", and she said my new CL on the AARP card would be $31K.

I'm very happy with the outcome; the slight negative of the hard credit inquiry is insignificant compared with the higher CL on the AARP card.

Lessons learned:

1. Don't believe what one or even several credit advisors tell you, especially if you've read about other peoples' experiences that differ from what the advisors are stating.

2. Be persistent!

3. See 2.


Thanks,

That number worked. got a very friendly rep on the phone that moved a big portion of my other 2 cards to aarp. after i answered some questions, no credit pull was made. after reallocating, aarp cl went from 8000 to 26,000. waiting for card then spending spree here i come...

kjgco said:   john66 said:   For those that were approved has your new card showed up on your Chase account? I was approved yesterday and mine is still not showing up.DW and I were both approved Sunday; both of our cards showed up this AM.

Thanks for the update. Just one question, why would you both apply now? If I sign my wife up, I want to stagger the time. It's unlimited Cash Back so two cards is not an advantage. I just got an extra card for her.

clearanceman said:   kjgco said:   john66 said:   For those that were approved has your new card showed up on your Chase account? I was approved yesterday and mine is still not showing up.DW and I were both approved Sunday; both of our cards showed up this AM.

Thanks for the update. Just one question, why would you both apply now? If I sign my wife up, I want to stagger the time. It's unlimited Cash Back so two cards is not an advantage. I just got an extra card for her.
You're welcome! With 2 cards, we each get our own separate lines, both of which we plan to put to good use! Also, I wouldn't bet that this offer stays on the table for all that long, given the enthusiastic reception it's getting here (and, I assume, elsewhere)

For others applying: I applied, got the 10-14 day letter notification. When I called to see if I could ask them to consider opening it by taking credit from a differnt card, I was sent to "PRIORITY DEPARTMENT" and was told that a credit report would not even be pulled as "a red light" came on when I submitted my application that showed I was not eligible for this card because I had previously taken advantage of "some offer - could be 0% BT offer, could have been promotional points".

Good news therefore is that at least you won't get hit with a hard credit report pull for a card they won't give you... bad news is that they are screening out some who have had other promos with Chase from this great deal...

And I would assume if you get the 10-14 day message, but don't see a credit report pull - you're likely to be receiving this letter stating you've already had your share of Chase promos.

I got the 10-14 day and my reports haven't been pulled. The only promo I've taken from Chase recently
was a checking account sign-up. Seems silly to deny you for that.

ETA: I do have a Freedom card and have signed up for the monthly 5% categories. Maybe this is that worrisome clause in the TOS about already having a Chase rewards program?

I just got off the phone with Chase and was told that I've been denied for this card because I've signed up for a "similar program" with them in the past. I asked which specific program she was referring to, and she couldn't pinpoint the exact card but said it could be the Freedom card. She also mentioned that I already have 4 cards with Chase, including the Continental card I was just approved for (((

I would guess this means that *this* card will be considered such a program and we may be ineligible for future promotions... but it's worth it!

Ilovesquash said:   And I would assume if you get the 10-14 day message, but don't see a credit report pull - you're likely to be receiving this letter stating you've already had your share of Chase promos.
Got this and am sure it's because of the 50k Continental card I applied for about a week prior. Am hoping I can convince the CSR to drop the Continental app and run with this one instead. Not getting my hopes up though...

lilminwoo said:   I just got off the phone with Chase and was told that I've been denied for this card because I've signed up for a "similar program" with them in the past. I asked which specific program she was referring to, and she couldn't pinpoint the exact card but said it could be the Freedom card. She also mentioned that I already have 4 cards with Chase, including the Continental card I was just approved for (((

Call back and ask if you can change one of your existing cards to the Chase AARP card. This worked last week with Chase. I turned a Chase card I never use into a Chase Freedom.

lilslyk said:   Applied and deferred. I'm surprised I wasn't denied altogether...I have previously been denied due to an "unsatisfactory history" with Chase. I guess they didn't like hundreds of thousands of dollars worth of Amazon.com purchases on the Amazon.com visa (which gave 3% back).

Exactly the reason why I haven't pulled the trigger (and I am trigger happy mind you) on this offer yet. I have told CHASE to suck it before and closed all my accounts with them. ITOH, having zero cards or loans should leave the doors wide open for a nice CL though?

Sure, unless Chase pulls out all the stops and accesses their secret database, separate from the credit bureaus, and you find out that as in Animal House you have been put on "double secret probation" by Dean Wormer... (i.e. Chase)

How often can you apply to Chase? I just got the Chase Sapphire for the $250 bonus last month. I just don't want to apply again too early and get bumped.

It's kinda crappy that the Freedom TOS didn't spell out that accepting it's rewards program would prevent you from qualifying from a future program. It's also crappy that we can assume accepting this offer will disqualify you from the next offer. Posthumous disclaimers are the new way of doing business I guess.

centrifuge41 said:   With all the talk of Citi CashReturns in the heavy hitter thread, and the fact that this card offers the 5% promo for double the amount of time, the possibilities could be quite ridiculous...

180 days * ($1000 coins / 10 days) * 0.05 = $900
6 months * ($500 Amzn / month) * 0.05 = $150
Paypal and Google Checkout, 2.1% spread...
Pay income tax on credit card, 2.51% spread...



I'm looking for any ideas on how to maximize this into much more than this? If you buy 1000 coins on Feb 8, say spend $6999 for taxes on a $8000 CL, and make a payment same day, would you be above your credit limit at the end of the month, or as long as your balance doesn't exceed you won't be assessed an overlimit fee?
Could you theoretically prepay your taxes (aka loan the gov't money) using some obscene calculation, and just get that back in the form of a refund? Could that be rinsed and repeated, and if not, applied to State/Local levels? I mean refunds are after all a result of overpayments.
Not sure I understand hwo to profit from Paypal and Google Checkout without actually sending someone else money, suppose I have to search, but if someone could lay this out.
I know the gift card thing is also interesting, but I would maybe max out on grocery gift and gas gift cards to my local vendors

Mine showed up on my Chase page tonight but under the show rewards tab it says nothing about the 5%. Does anyones say they get the 5% or is it just supposed to happen? Thanks

Clearly there are 2 threads of thought here so far in this, the 4th page -

1) What is the process for applying/being accepted for this card?, and

2) How can I cash in on the 5% ("monetize") once I have this card?

Perhaps, just perhaps, this should instead be separated into - well, 2 threads?

This is HUGE! Any confirmed reports that this earns 5% back at the the mint? I assume it will, but nice to hear confirmation.

Another merchant of interest would be AMEX GC.

Also, though not the center of attention for this thread, the 3% on travel after the first 6 months is decent considering no other cards offer more than 2% in the area of travel.

ok, I applied for an AARP membership and selected to pay later. On the confirmation page, I did not get the AARP membership number - do I have to wait for membership # in snail mail before I can actually apply for the Chase Card ?

EDIT : I couldn't wait, so I applied again and paid via Credit card. Decision pending on the Chase Card. Can't wait.

According to a phone representative (note: they are not always correct), if you select bill me later, they will do just that -- send you a bill. You won't receive a membership number until payment is received.

If anyone has received a membership # without paying, please correct me.

I signed up over the phone and paid the $16.

fw9999 said:   Sure, unless Chase pulls out all the stops and accesses their secret database, separate from the credit bureaus, and you find out that as in Animal House you have been put on "double secret probation" by Dean Wormer... (i.e. Chase)

How did you know about the double secret probation?

After the initial shock of finding I was blacklisted, I called back to see if I could find out a little more - how long this limit on my applications would last, why it was there, etc. The CSR actually said -"it is a secret even to us" - only marketing knows why it is on there, and when (?if?) it will come off. So I really am on probation. And I never even took advantage of the mint deals though tempted.

clearanceman said:   Call back and ask if you can change one of your existing cards to the Chase AARP card. But doing so wont get you the 5% promo.

I applied for the AARP card and got instant approval yesterday for a 10,000 limit. I called the credit lending dept to reallocate my credit limit from my SW card today, and was able to move the entire thing and they then canceled my SW card. Will I still be eligible for the 5% Cash Back. I'm assuming this would not count as a conversion??

I'm not a Chase CSR, but since you applied, got approved, and opened a new credit line, I don't see how this could count as a conversion.

That's what I was thinking because it was a new application and just a movement of credit limit. I don't think because they cancelled the SW card should have any effect. Thanks for the reply

lilminwoo said:   I just got off the phone with Chase and was told that I've been denied for this card because I've signed up for a "similar program" with them in the past. I asked which specific program she was referring to, and she couldn't pinpoint the exact card but said it could be the Freedom card. She also mentioned that I already have 4 cards with Chase, including the Continental card I was just approved for (((
i got the same notice...currently have 4 cards with Chase, and grabbed the Continental and United cards within the past year.

CSR said that i could not convert an existing card to the AARP card. i may try another CSR soon though, unless i hear others' failure to swap.

good news is no credit pull.

cashmonkey said:   I would guess this means that *this* card will be considered such a program and we may be ineligible for future promotions... but it's worth it!

Yes, in six months when I sign my wife up for this card, I can imagine the response.

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