I wish to caution those thinking about the Chase Ritz Carlton Rewards Card. I was enticed by the two free nights certificates good at Tier 1-4 Catagory properties. I attempted to use them on 6 (six!) different occasions and was told each time that only so many rooms are allotted at each property on any given night for these certificates. The rooms were not sold out and there was availability of the most inexpensive rooms at each property on each occasion. Ritz Carlton arbitrarily decides how many rooms to make available for the certificates, which expire in a year, are not honored by Ritz. Wow, there is an $800-1000 ripoff, at least in my book.
They get you through the entire application process based on your estimated income and home values (that they provide to you from their system ). At the very end, they will increase the rate because the appraisal came in lower than anticipated (or whatever other reason they can find). They quickly go over the interest rate on the phone without actually explaining the increase or the reason for it. They gloss over the increase, if you do not pay close attention, you will get screwed. They will claim to go back through their records and listen to the phone call, but will not give you access to the recorded call or a transcript of what was said. BEWARE!
I had very high limits on my cards, and used them/paid them off regularly. They suddenly stopped sending me statements via email. Something told me to log on and check. Thank God it wasn't 30 days late, but it was close. I called them and asked them why they didn't tell me that I owed them money. I hadn't used the card in a few months, so I wasn't surprised I hadn't received a statement. They said they emailed it, and it was my fault. I checked all of my email, including spam, nothing there. So, the cards had been paid off in full in early April. Which means, if they weren't making any interest off of me for one billing cycle, I guess they thought they'd rip me off by not sending me a statement for some stupid Amazon prime fee so they could charge me $50 or $60 bucks in fees for a $10 charge. Gotta rip people off to make ends meet over at Chase. If you value your credit rating, do not do business with Chase. They are ripping off consumers. Good thing I was paranoid enough to check up on it, or I would have had a credit ding. Save yourself, and your credit----use another bank.
I'm always nervous about applying for new credit because let's be honest. Nobody likes rejection. To my relief I was approved. I was hoping for a limit of at least 3k, but a 2k limit is better than a denial. Here is what my credit looked at time of application.
approval odds: good
TU 653 EQ 658
average age of credit: 3 Y
5 total accounts
1 paid in full auto loan
I am also a new Chase customer.
I make >45k/Y
application was quick and easy!
Hope this review helped!