Chase 5/24 Question

[Anonymous]

Does the 5/24 count for open accounts only or it counts closed? For example in the last 24 months i have opened 5 cards, if i were to close one (credit one) and it reported as closed when I applied, would Chase still count it as 5/24 or 4/24?

[Anonymous]

5/24.  just because you close the account doesn't mean that it negates the opening.  the 5/24 references cc accounts opened.

[Anonymous]

Any accounts opened in the last 2 years count.  Which Chase product are you seeking in particular?  Keep in mind that some of their co-branded cards, such as the Amazon for example, are not included in 5/24.

[Anonymous]

If you search anywhere you should have seen the answer in at least a dozen threads here as well as all the popular credit card blogs.

5/24 means 5 or more revolving lines of credit opened within the previous 24 months.

Whether they are still open or not is irrelevant, and Chase includes charge cards even though in theory you can't revolve balances on them.

As mentioned, a few of the cobranded cards are not auto declined for this rule, but an underwriter can still deny you for too many new accounts regardless.

[Anonymous]

Many business cards don't count against 5/24 either. However, as mentioned.. there are tons of blogs and info on this subject already.

[Nyrell]

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I'm personally not too sure about the Chase 5/24 rule.   In September of 2016 I applied for the Sapphire card and was instantly approved for a $23K limit in spite of being at 6/24.  Last week, at 9/24, applied for the Freedom Card and was approved with a $24K limit. No problem at all.

[Anonymous]

Were any of these store cards?

[Anonymous]

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@Anonymous wrote:
Were any of these store cards?

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Store cards count towards 5/24 if they are reported to the credit bureaus.  You mentioned that you have a Victoria Secrets card in another post.  That does report so it counts.

[Anonymous]

Does chase understand if you're at/over 5/24 when they send you pre-approved offers? On the chase app under "Your Offers", I'm pre-approved for the CSP, FU, and slate with all of those cards having a specific APR not a range APR.

I've heard that's always a good sign of approval. My credit history is flawless. 100% on time payments, no baddies, no collections, scores between 750-760. The only thing that would keep me from getting any of these cards is the 5/24.

Many people have conflicting answers, so I'm wondering if anyone has ever been approved for a chase card with good history but over 5/24.

[Anonymous]

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@Anonymous wrote:
Does chase understand if you're at/over 5/24 when they send you pre-approved offers? On the chase app under "Your Offers", I'm pre-approved for the CSP, FU, and slate with all of those cards having a specific APR not a range APR.

I've heard that's always a good sign of approval. My credit history is flawless. 100% on time payments, no baddies, no collections, scores between 750-760. The only thing that would keep me from getting any of these cards is the 5/24.

Many people have conflicting answers, so I'm wondering if anyone has ever been approved for a chase card with good history but over 5/24.

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If you show preapprovals under the offers page then that almost always bypasses the 5/24 'rule;.  There really aren't 'conflicting ' answers, but more so people that really don't know the answers and think that they do :-/.  Many people have been approved for new Chase cards that supposedly are under the 5/24 guidelines.  The ways around it are online preapprovals and in branch preapprovals.  .  If you are interested in those cards that show preapproved, then go ahead and apply.  While no preapproval is an absolute guarantee of being approved, based on your scores (if they are FICO scores) and credit history, then I'd say that you have nothing to worry about.  Apply and let us know which card that you're approved for .  Good luck