A few days ago I outlined my credit card strategy for October 1 and beyond, and yesterday I got instantly approved for my first credit card application… which caught me off guard!
IHG Card Instant Approval
My first order of business was to apply for the IHG® Rewards Club Premier Credit Card — this is the single card that I’ve wanted most for quite a while now, and it had a limited time sign-up bonus at the time, so the clock was ticking on getting approved for the card, and I didn’t want to risk it. Of course, there is now an even better limited time welcome bonus available of 140,000 points after completing minimum spend.
So yesterday I applied for the card, fully expecting I would have to wait a few days to hear back. Chase offers instant approvals on card applications, but I rarely get them. Much to my surprise, I was instantly approved. I don’t know if I’ve ever received instant approval before on a Chase card, so I was excited about that.
Why I Didn’t Think I’d Be Instantly Approved
In my experience Chase is the toughest card issuer when it comes to approvals. It’s not just a function of having to be under their “limits,” but even beyond that I find they can be tough with approvals.
I first started applying for Chase cards when I was in college and had very little credit history, so that may have something to do with it in my situation. The thing is, in the end I always get approved for the Chase cards that I apply for, but it usually takes one to two weeks for the approval to come through, and sometimes I even have to call in.
This is probably because I already have eight Chase credit cards. While Chase doesn’t have a hard limit on how many cards you can have, they do often have a limit on how much total credit they’ll extend you.
So oftentimes in order to be approved for a Chase card I need to switch around some of my credit limit from an existing card to the one that I just applied for in order to be approved. That wasn’t needed here, surprisingly.
I’m not sure if I’m just really lucky, or if the IHG Rewards Club Premier Card is actually easier to be approved for than other Chase cards. I have heard that, and I guess there could be some truth to it.
The Chase Cards I Already Have
Chase has some fantastic credit cards, so I already had eight of their cards before getting this one. These are all cards that I get a lot of value out of, so I didn’t want to cancel any of them (six of these cards are part of the Ultimate Rewards ecosystem). For what it’s worth, previously I had the following eight cards:
- Chase Sapphire Reserve® (review)
- Chase Freedom® Card (review)
- Chase Freedom Unlimited® (review)
- Ink Business Preferred® Credit Card (review)
- Ink Business Cash℠ Credit Card (review)
- Ink Business Unlimited℠ Credit Card (review)
- The World of Hyatt Credit Card (review)
- IHG® Rewards Club Select Credit Card (no longer open to new applicants)
Why I Got The IHG Premier Card
The IHG Rewards Club Premier Card not only has its best ever sign-up bonus at the moment, but also has some incredible perks.
As far as the bonus goes, the card is offering:
- 140,000 IHG Rewards Club bonus points after spending $3,000 within three months
- 25x points per dollar spent on IHG hotel stays for the first 12 months
- 4x points per dollar spent on all eligible purchases for the first 12 months
On top of that, long term the card is offering:
- An anniversary free night award at a property costing up to 40,000 points
- A fourth night free on award redemptions
- IHG Rewards Club Platinum status for as long as you have the card
- A Global Entry or TSA Pre-Check credit
I should note that I also have the old IHG Select Card, and these cards are fantastic complements. By having both of these cards:
- I get two anniversary free night awards per year
- I can stack the 10% rebate on redeemed points offered by the Select Card with the fourth night free on award redemptions offered by the Premier Card
You are eligible for the bonus on the Premier Card even if you have the old Select Card.
I had to modify my credit card application strategy a bit given that I didn’t want to miss the bonus offer on the IHG Rewards Club Premier Card. I’m thrilled to not only have been approved for the card, but to have been approved instantly.
I wonder if the card is actually easier to be approved for than other Chase cards, or if I just got lucky.
Stay tuned for the remainder of my credit card application strategy.
If you’ve applied for the IHG Premier Card, what was your approval process like?