Can I get the CSP Bonus again?

[gnay]

Hi, long story short,

Dec, 2013 Opened CSP

Jan, 2014 Received the signup bonus

Dec, 2014 Downgraded to regular CS

Mar, 2016 Accont still active

I am thinking about closing the CS and applying for the CSP again. Since it has been more than 24 months since I got the first bonus, will I be able to get the bonus second time around? 

Also, what would be the best way to move the limits? by calling in or through SM? 

Thanks in advance!

[Imperfectfuture]

If you can meet the 5/24 rule, you would be eligible. No one can predict unless you app. I find calling the eo and lending departments prior helps in my decisions, but I know the appropriate questions to ask.

[FinStar]

Yes, you can qualify for the bonus since it's been >24 months.  Now, that being said, have you opened more than 5 new accounts in the last 24 months?

As far as consolidating CLs, it can be requested either way, SM or phone.

[gnay]

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@FinStar wrote:

Yes, you can qualify for the bonus since it's been >24 months.  Now, that being said, have you opened more than 5 new accounts in the last 24 months?

As far as consolidating CLs, it can be requested either way, SM or phone.

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I checked that I have opened 4 new cc's in the past 2 year period along with 1 line of credit and an auto lease. Does Chase' 5/24 rule only account for credit cards?

[myjourney]

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@gnay wrote:

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@FinStar wrote:

Yes, you can qualify for the bonus since it's been >24 months.  Now, that being said, have you opened more than 5 new accounts in the last 24 months?

As far as consolidating CLs, it can be requested either way, SM or phone.

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I checked that I have opened 4 new cc's in the past 2 year period along with 1 line of credit and an auto lease. Does Chase' 5/24 rule only account for credit cards?

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No all accounts so you would have 6/24

However a thick file we've seen cases of being approved anyway 

Thin file YMMV

[FinStar]

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@gnay wrote:

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@FinStar wrote:

Yes, you can qualify for the bonus since it's been >24 months.  Now, that being said, have you opened more than 5 new accounts in the last 24 months?

As far as consolidating CLs, it can be requested either way, SM or phone.

---

I checked that I have opened 4 new cc's in the past 2 year period along with 1 line of credit and an auto lease. Does Chase' 5/24 rule only account for credit cards?

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Only one way to find out OP!  It's been reported that it includes all accounts, then we've also seen that some tradelines are not particularly "included" in the mix, such as PLOC or something similar.  That being said, it's not something set in stone for every profile, but the majority has been declined in one form or another for "too many accounts in X number of months".  So, YEMV.  Yet, we've also seen evidence of others who were able to get approved despite the 5/24 rule.

[Anonymous]

I'm not sure why anyone thinks that 5/24 includes anything other than credit cards.

Seems like people just repeating a misunderstanding. The denial reason is for 5 or more credit cards in the last 24 months, not 5 mortgages, 5 auto loans, or 5 personal lines of credit.

The OP is therefore at 4/24 and should at least not be denied for too many credit cards in the last 24 months.

[myjourney]

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@Anonymous wrote:
I'm not sure why anyone thinks that 5/24 includes anything other than credit cards.

Seems like people just repeating a misunderstanding. The denial reason is for 5 or more credit cards in the last 24 months, not 5 mortgages, 5 auto loans, or 5 personal lines of credit.

The OP is therefore at 4/24 and should at least not be denied for too many credit cards in the last 24 months.

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Sorry to say it's 5 accounts not 5 CC's  Lol

[FinStar]

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@Anonymous wrote:
I'm not sure why anyone thinks that 5/24 includes anything other than credit cards.

Seems like people just repeating a misunderstanding. The denial reason is for 5 or more credit cards in the last 24 months, not 5 mortgages, 5 auto loans, or 5 personal lines of credit.

The OP is therefore at 4/24 and should at least not be denied for too many credit cards in the last 24 months.

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Because the declined letters specifically state "accounts" that's why.  Unless you are an UW for Chase or know the actual algorithm, then there's really no misunderstanding on what's printed on the letter. 

Here's the common reasons cited as the top reasons:

Too many credit or loan accounts have been opened in the last 24 months (this reason is also on par with the word "recently" absent the 12/24 months language)

Too many recent requests for credit or review of your credit.

Get the picture now?

[Anonymous]

Case in point Lol