Jump to content

Sign in to follow this  
vezhiux

Chase 5/24

Recommended Posts

I think I've seen a tread where this question was already answered, but I can't find it.
I'm over 5/24 and only have 1 chase United card. Ready to apply for a few more cards this year, and Chase would be nice since they are one of my higher limit card, and I use it a lot.
Which of their "partner cards" is guarantee not to fall under 5/24 rule? I simply don't want to waste a HP.
Thanks

Share this post


Link to post
Share on other sites

 

 

Chase doesn’t seem to impose this restriction on its IHG, Hyatt, British Airways, Fairmont, Ritz-Carlton, or Amazon cards.

 

I can't find the thread I recall on here but this is from a recent article.

Edited by Agrajag

Share this post


Link to post
Share on other sites

Check your offers once you login to your Chase account. The 5/24 rule doesn't apply if they've pre-approved your for an offer with a specific interest rate. I'm over 20/24 and I just got approved for the Sapphire and the Slate. I closed the unlimited and redistributed the limit between my current Freedom and the new Sapphire.

Share this post


Link to post
Share on other sites

Check your offers once you login to your Chase account. The 5/24 rule doesn't apply if they've pre-approved your for an offer with a specific interest rate. I'm over 20/24 and I just got approved for the Sapphire and the Slate. I closed the unlimited and redistributed the limit between my current Freedom and the new Sapphire.

 

Welcome to CB! :wave:

Share this post


Link to post
Share on other sites

Check your offers once you login to your Chase account. The 5/24 rule doesn't apply if they've pre-approved your for an offer with a specific interest rate. I'm over 20/24 and I just got approved for the Sapphire and the Slate. I closed the unlimited and redistributed the limit between my current Freedom and the new Sapphire.

Sadly nothing on my offer list.

Share this post


Link to post
Share on other sites

One more question.
My util = 2% at the moment with 3 different cards reporting balances. 3k, 1k and 50$. I'm paying off balances every month but keep forgetting that Penfed and USbank reports on 1st of the month. So thats how I have few unexpected balances. Does chase or any other bank may decline an app because "too many accounts with balances" (I remember I use to get some declines like these in the past) or these days it should be no problem?

Share this post


Link to post
Share on other sites

One more question.

My util = 2% at the moment with 3 different cards reporting balances. 3k, 1k and 50$. I'm paying off balances every month but keep forgetting that Penfed and USbank reports on 1st of the month. So thats how I have few unexpected balances. Does chase or any other bank may decline an app because "too many accounts with balances" (I remember I use to get some declines like these in the past) or these days it should be no problem?

 

Some banks like to see more reporting than others. It will improve your FICOs a little bit to have lower balances but that doesn't necessarily mean you will be approved. What are your FICOs?

Share this post


Link to post
Share on other sites

 

One more question.

My util = 2% at the moment with 3 different cards reporting balances. 3k, 1k and 50$. I'm paying off balances every month but keep forgetting that Penfed and USbank reports on 1st of the month. So thats how I have few unexpected balances. Does chase or any other bank may decline an app because "too many accounts with balances" (I remember I use to get some declines like these in the past) or these days it should be no problem?

 

Some banks like to see more reporting than others. It will improve your FICOs a little bit to have lower balances but that doesn't necessarily mean you will be approved. What are your FICOs?

 

FICO's ranging from 760 to 780's. Spending average 15k/month right now. All PIF before statement cuts.

 

Share this post


Link to post
Share on other sites

 

 

One more question.

My util = 2% at the moment with 3 different cards reporting balances. 3k, 1k and 50$. I'm paying off balances every month but keep forgetting that Penfed and USbank reports on 1st of the month. So thats how I have few unexpected balances. Does chase or any other bank may decline an app because "too many accounts with balances" (I remember I use to get some declines like these in the past) or these days it should be no problem?

 

Some banks like to see more reporting than others. It will improve your FICOs a little bit to have lower balances but that doesn't necessarily mean you will be approved. What are your FICOs?

 

FICO's ranging from 760 to 780's. Spending average 15k/month right now. All PIF before statement cuts.

 

 

 

I don't think paying those smallish balances will have an impact one way or the other on your apps.

Share this post


Link to post
Share on other sites

Amazon, Hyatt and Marriott, to name a few.

I've read before that someone app'ed for Marryott and was rejected because of 5/24. And some other people were also approved. So i don't know if its worth it to try.

Share this post


Link to post
Share on other sites
From DoC:

What Cards Does This Affect?

Chase has a lot of credit cards, this 5/24 rule applies to the following cards:

  • Chase Freedom
  • Chase Freedom Unlimited
  • Chase Sapphire Preferred
  • Chase Sapphire Reserve
  • Chase Slate
  • Chase Ink Cash
  • Chase Ink Plus
  • Chase Ink Preferred
  • Chase Southwest Plus personal card
  • Chase Southwest Premier personal card
  • Chase Southwest Premier business card
  • Chase Marriott Premier personal card
  • Chase United MileagePlus Club Card
  • Chase United MileagePlus Explorer personal card
  • Chase United MileagePlus Explorer business card
What Cards Aren’t Affected?

The following cards don’t have this rule applied to them:

  • Chase IHG
  • Chase Hyatt
  • Chase British Airways
  • Chase Disney
  • Chase Fairmont
  • Chase Marriott Premier business card
  • Chase Ritz-Carlton
  • Chase Amazon
  • Chase AARP
Edited by semistatic

Share this post


Link to post
Share on other sites

Hi! I did a few searches and I believe I found my answer here. Is 5/24 still in full effect for Chase SW Rapid Rewards? This thread is fairly recent and it sounds like it still is.

TIA

Share this post


Link to post
Share on other sites

To the best of my knowledge, WN cards are currently all affected by the 5/24 rule.

 

If you find out different, please let me know :D

Share this post


Link to post
Share on other sites

To the best of my knowledge, WN cards are currently all affected by the 5/24 rule.

If you find out different, please let me know :D

Will do. I will probably GP it. I switched companies and now work for SW and want to have some points as back up.

Share this post


Link to post
Share on other sites

Will Chase retroactively close an account that was approved, but a few new accounts pop up after the approval that will put you over 5/24?

No but it appears from info collected here you must avoid doing things that would prompt Chase to put you on a watch list like seeking new credit cards from Chase.

Share this post


Link to post
Share on other sites

Update as of December 2018:

 

What Cards Does This Affect?

 

Chase has a lot of credit cards, this 5/24 rule applies to the following cards:

All of them

 

The following cards don’t have this rule applied to them:

None of them

________________________________________________________________________________________

 

And the monkey-see-monkey-do effect has taken hold throughout the industry.

 

 

 

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

  • Member Statistics

    • Total Members
      178,211
    • Most Online
      2,046

    Newest Member
    shakil.mebkhouti44
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines