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Petition to Axe 5/24

The last post in this topic was posted 1343 days ago. 

 

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Axe 5/24 Rule  

292 members have voted

  1. 1. Should the 5/24 Rule be Axed?

  2. 2. Modify it

  3. 3. Write to Chase Executive

  4. 4. 5/24 Rule Should Apply to Chase Cards Only



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CB is a pretty big community, wouldn't it be great to start a grassroots petition to axe the 5/24 rule from Chase or at least modify it to 5/12 or 5/6

 

I just don't see how many CBer's and people on other forums can stay in the garden for 24 months.

 

I started a poll, participate and let's get the ball rolling to Axe or Modify 5/24

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What if it worked, but this was their response?

 

Sure, 5/24 is gone.

But only one sign-up bonus per lifetime per card.

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What if it worked, but this was their response?

 

Sure, 5/24 is gone.

But only one sign-up bonus per lifetime per card.

5/24 is better.

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They don't care.

^This in a nutshell easy

 

However if someone were to petition their co-brand businesses directly, now that might or might not raise a little attention perhaps.

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What if it worked, but this was their response?

 

Sure, 5/24 is gone.

But only one sign-up bonus per lifetime per card.

5/24 is better.

 

Exactly, that was my point. :grin:

 

5/24 is a known known we can work with.

Who knows what unknown policy changes might lurk behind door number two? -- assuming Jamie Dimon would even listen to us.

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Better than requiring 760 FICOs across the board.

 

 

What if it worked, but this was their response?

 

Sure, 5/24 is gone.

But only one sign-up bonus per lifetime per card.

 

5/24 is better.

Exactly, that was my point. :grin:

 

5/24 is a known known we can work with.

Who knows what unknown policy changes might lurk behind door number two? -- assuming Jamie Dimon would even listen to us.

Very true. We know the rule and can play around it accordingly

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I just don't see how many CBer's and people on other forums can stay in the garden for 24 months.

 

 

Because other forums have no idea what the hell "the garden" is. :)

 

Also so called rules are great especially when you find ways around them. Like their rule you have to wait x amount of months to get the bonus again. OK if you say so. :rofl:

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This will last until some beancounter makes some Powerpoint graph and a PHB doesn't like the direction some line goes and decides that growing accounts is better than turning them away.

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This will last until some beancounter makes some Powerpoint graph and a PHB doesn't like the direction some line goes and decides that growing accounts is better than turning them away.

Makes me wonder how much of the potential Chase customer pool fits into the CB-like category of people that obtain more than 5 cards within 24 months. Has anyone seen data on this?

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This will last until some beancounter makes some Powerpoint graph and a PHB doesn't like the direction some line goes and decides that growing accounts is better than turning them away.

Makes me wonder how much of the potential Chase customer pool fits into the CB-like category of people that obtain more than 5 cards within 24 months. Has anyone seen data on this?

 

 

The average American has 4-8 credit cards total (depending on the source).

 

Many (most?) Americans revolve credit card balances as well.

 

 

I suspect we are a distinct minority.

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This will last until some beancounter makes some Powerpoint graph and a PHB doesn't like the direction some line goes and decides that growing accounts is better than turning them away.

 

Makes me wonder how much of the potential Chase customer pool fits into the CB-like category of people that obtain more than 5 cards within 24 months. Has anyone seen data on this?

The average American has 4-8 credit cards total (depending on the source).

 

Many (most?) Americans revolve credit card balances as well.

 

 

I suspect we are a distinct minority.

That's my thought as well. Which is intriguing to me that they would develop such a rule. Maybe they are just trying to be more like PenFed? ;)

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The average American has 4-8 credit cards total (depending on the source).

Many (most?) Americans revolve credit card balances as well.

 

I suspect we are a distinct minority.

That's my thought as well. Which is intriguing to me that they would develop such a rule. Maybe they are just trying to be more like PenFed? ;)

 

The average American is probably not affected by 5/24.

 

5/24 limits, but does not prohibit, churners.

It is interesting that Chase (unlike Amex) allows you to get the same reward again after 24 months.

But they don't want you to get many other cards.

 

Perhaps they accept churners on a limited scale, but want them all to themselves. :grin:

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The average American has 4-8 credit cards total (depending on the source).

Many (most?) Americans revolve credit card balances as well.

 

I suspect we are a distinct minority.

That's my thought as well. Which is intriguing to me that they would develop such a rule. Maybe they are just trying to be more like PenFed? ;)

The average American is probably not affected by 5/24.

 

5/24 limits, but does not prohibit, churners.

It is interesting that Chase (unlike Amex) allows you to get the same reward again after 24 months.

But they don't want you to get many other cards.

 

Perhaps they accept churners on a limited scale, but want them all to themselves. :grin:

I think you're onto something there. :)

 

Hopefully whatever risk they access from #cards/set time period doesn't catch on with other lenders

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I just don't see how many CBer's and people on other forums can stay in the garden for 24 months.

Because other forums have no idea what the hell "the garden" is. :)

This is untrue...

http://www.myfico.com/crediteducation/gardeningyourcredit.aspx

 

Talking about forums like FT, FWF, DDF and others. Credit forums are not the ones hammering these cards.

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This only confirms that the new 5/24 rule is a complete success for Chase.

Edited by ubercat

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Private business. They can do as they see fit. I figure they are trying to find a way to limit their exposure by limiting people who are "gobbling" up credit. Like others have said who knows what they would change if they did eliminate it. Would you be happy if they relaxed that requirement but made the starting limits lower and capped all the cards at a smaller amount?

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There may be a better spot for this, but I'm coming up empty handed when trying to find the information via search.

 

For Chase Ink+ specifically, 5/24 counts in obtaining the card. Does having the card count towards 5/24 as well even though it's not on personal reports? I would imagine it would since it's with Chase, but this information is crucial for future card strategies.

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