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I've heard of the 5/24 rule with Chase. Is that a pretty hard and fast rule with them?
I recently applied for the Chase Ink card for my business (I used EIN and my personal SSN of course) but my company has no credit yet. This is the first BUS card.
I've definitely got 5 accounts in the last 2 years, but only one with chase (CSP @ 16k) I got the 30 day message which I know isn't an immediate denial, but I was curious if the 5/24 applies to bus cards, or if its even a hard and fast rule or just ane excuse to deny people.
(Thinkin about getting a slate in September)
Thanks!
awesome! thanks
+1 Currently not subject to 5/24. "X Days" never tells you anything about outcome. Outcome depends on what needs to be done, what is found, etc. All of my Chase biz cards resulted in "X Days" prior to approval. Current app also ran into the "X Days" message. It's quite common. However, don't assume outcome with any creditor/product based on an "X Days" message.
Any concept of scoring model/midscore/what they look for in terms of FICOS?
Depending on who you ask and what model i'm 706-776. Exp FICO says 721, CK says 750+ for eq and TU, just had a LOC applied for for my company, and they pulled like a 706 using their model. About 12% util
No, I was planning on applying after our mortgage has reported ~ 3 - 4 times.
@mccallb wrote:Any concept of scoring model/midscore/what they look for in terms of FICOS?
Depending on who you ask and what model i'm 706-776. Exp FICO says 721, CK says 750+ for eq and TU, just had a LOC applied for for my company, and they pulled like a 706 using their model. About 12% util
Just out of curiousity why do you recommend against calling?