I saw a report that someone used a previous Chase Ink card preapproval loophole to apply for one Chase Ink card every month and rack up a huge number of points. He has already redeemed 7 million points through Pay Yourself Back, and it’s estimated that he has also transferred several million more into airline miles. Of course, he eventually got banned by Chase.
This latest case is about Chase and at least one customer who opened lots of Ink business cards over the last year. He redeemed over 7 million Chase Ultimate Rewards through Pay Yourself Back, and likely millions more transferred to travel partners.
We actually shared this loophole before, and you have to admire how bold this person was for daring to keep applying. The trick is figuring out the pattern behind Chase preapproval application links, because these links can bypass the 5/24 restriction. In other words, if your credit profile is strong enough, you can keep applying without being limited.