Chase 5/24 Rule

[CreditCuriosity]

As many times as we say it, it is a REAL rule.. You can google this and find people with 800+ Fico's denied for this sole reason.  We can't convince people it is a true rule if they choose to not want to believe it.  One just has to take a HP if they are over 5 accounts in 2 years that are REPORTING and get the denial for themselves to prove it out if you choose not to listen to the advise of us among many other people from various forums, blogs, etc.

[taxi818]

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@CreditCuriousity wrote:

As many times as we say it, it is a REAL rule.. You can google this and find people with 800+ Fico's denied for this sole reason.  We can't convince people it is a true rule if they choose to not want to believe it.  One just has to take a HP if they are over 5 accounts in 2 years that are REPORTING and get the denial for themselves to prove it out if you choose not to listen to the advise of us among many other people from various forums, blogs, etc.

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Yep for sure its a real rule. keep in mind that is only for the main staple of Chase Cards. Mainly Csp, Freedom and slate. Co branded cards are exempt in a sense. so those are ok.

[Anonymous]

Not sure if anyone seen my thread last Friday the 13th, but this was what I posted:

OMG!! I'm so baffled right now. A few weeks ago I created a thread about being prequalified for the Freedom and Slate. Prior to this I had applied for the Freedom but was denied and denied recon for inquiries reason ONLY. So when I created the thread about being prequalified I decided to apply for the Slate and called about the status. Was told I was denied for inquiries so I hopped my butt in the garden with a drink in my hand. Came home and checked the mailbox today and I saw a fat white envelope. I assumed it was my new JCPennys card and the letter said: YOUR NEW CHASE SLATE CARD HAS ARRIVED. Credit limit: $4800.

I have opened 3 prime cards and 16 store cards within the last 2 years. All store cards were opened this year. 

[CreditCuriosity]

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@Anonymous wrote:

Not sure if anyone seen my thread last Friday the 13th, but this was what I posted:

OMG!! I'm so baffled right now. A few weeks ago I created a thread about being prequalified for the Freedom and Slate. Prior to this I had applied for the Freedom but was denied and denied recon for inquiries reason ONLY. So when I created the thread about being prequalified I decided to apply for the Slate and called about the status. Was told I was denied for inquiries so I hopped my butt in the garden with a drink in my hand. Came home and checked the mailbox today and I saw a fat white envelope. I assumed it was my new JCPennys card and the letter said: YOUR NEW CHASE SLATE CARD HAS ARRIVED. Credit limit: $4800.

I have opened 3 prime cards and 16 store cards within the last 2 years. All store cards were opened this year. 

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Slate is not a UR earner.. It gets past this rule.. 5x24 is CSP/Freedom..  Everything else is fair game.  I can't handle these threads anymore.  Anyways, I am outta this one

[Anonymous]

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@Anonymous wrote:

Not sure if anyone seen my thread last Friday the 13th, but this was what I posted:

OMG!! I'm so baffled right now. A few weeks ago I created a thread about being prequalified for the Freedom and Slate. Prior to this I had applied for the Freedom but was denied and denied recon for inquiries reason ONLY. So when I created the thread about being prequalified I decided to apply for the Slate and called about the status. Was told I was denied for inquiries so I hopped my butt in the garden with a drink in my hand. Came home and checked the mailbox today and I saw a fat white envelope. I assumed it was my new JCPennys card and the letter said: YOUR NEW CHASE SLATE CARD HAS ARRIVED. Credit limit: $4800.

I have opened 3 prime cards and 16 store cards within the last 2 years. All store cards were opened this year. 

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Congrats! So does this mean that 5/24 rule does not apply anymore?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Not sure if anyone seen my thread last Friday the 13th, but this was what I posted:

OMG!! I'm so baffled right now. A few weeks ago I created a thread about being prequalified for the Freedom and Slate. Prior to this I had applied for the Freedom but was denied and denied recon for inquiries reason ONLY. So when I created the thread about being prequalified I decided to apply for the Slate and called about the status. Was told I was denied for inquiries so I hopped my butt in the garden with a drink in my hand. Came home and checked the mailbox today and I saw a fat white envelope. I assumed it was my new JCPennys card and the letter said: YOUR NEW CHASE SLATE CARD HAS ARRIVED. Credit limit: $4800.

I have opened 3 prime cards and 16 store cards within the last 2 years. All store cards were opened this year. 

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Congrats! So does this mean that 5/24 rule does not apply anymore?

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I have no idea but its crazy that I was approved for this card and people with less inquiries and new accounts aren't approved. 

[Anonymous]

As recent as November 12th, 2015 is a current rule, or at least a grounds for denial by Chase as stated in the letter addressed to me by Chase for which I reconned an application for a Chase SLATE card. If others have cirumvented the rule, had it not apply to their Slate applications then more power to you. For me, it is a very real rule and applied to the Slate card.  When I called in I was never specifically told, "Chase has a rule that states no approvals for people who have opened more than 5 cards within 24 months. I was told, "Yes, you were declined because you opened more than 5 cards within the past 24 months."

[Anonymous]

Guess I got through unnoticed then 😟

[red259]

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@Anonymous wrote:
Guess I got through unnoticed then 😟

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No. It appears that prior to this you did not have a chase card. There have been many examples of the 5/24 rule is not being applied to people who do not have any chase cards.

[Anonymous]

I think Chase has algorithm.  And we never know how it working.  

Maybe 90% of app will be denied for too many accounts.  And 10% app will be approved because high CS or for any other reason.  

BTW someone has letter where was wrote reason "5/24" instead "too many accounts"?