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Chase 5/24 rule questions

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Anonymous
Not applicable

Chase 5/24 rule questions

I know this topic has been beat to death, but I looked around and didn't find anything on these two scenarios.

1) Is Chase smart enough to catch Amex backdating? I got the BCP within 24 months, but it's dating back to more than 24 months.

2) Do they count the 24 months down to the day, or just the month as a whole? Got the CSP on 8/9/14, so I don't know if that will be factored in to the 5/24 rule since it's been more than 24 months since 8/9/14, or if it just takes it as a new card in the month of August 2014 as a whole (meaning I would have to wait until 9/1/16 for it to drop off).

Hope both of those are in my favor, if so I should be good to go for the CSR tomorrow!
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kdm31091
Super Contributor

Re: Chase 5/24 rule questions


@Anonymous wrote:
I know this topic has been beat to death, but I looked around and didn't find anything on these two scenarios.

1) Is Chase smart enough to catch Amex backdating? I got the BCP within 24 months, but it's dating back to more than 24 months.

2) Do they count the 24 months down to the day, or just the month as a whole? Got the CSP on 8/9/14, so I don't know if that will be factored in to the 5/24 rule since it's been more than 24 months since 8/9/14, or if it just takes it as a new card in the month of August 2014 as a whole (meaning I would have to wait until 9/1/16 for it to drop off).

Hope both of those are in my favor, if so I should be good to go for the CSR tomorrow!

With #2 I don't think there is any clear answer and if I were you, I'd just wait til 9/1. It's not like that's far off, and you're better safe than sorry. Your credit report may just say the account was opened in August 2014, not the exact date, so Chase may just wait until 9/1 to consider it past the date.

Message 2 of 4
Anonymous
Not applicable

Re: Chase 5/24 rule questions

Take a look at the CSR thread. Some approvals are coming back approved despite being over the 5/24 rule. Just FYI.

Message 3 of 4
LuckyBird
Regular Contributor

Re: Chase 5/24 rule questions

I can offer a little bit of insight on #2:

 

I opened a few accounts at the end of August 2014, that put me over 5/24 at the time they started the 5/24 rule.  The very end, like the 28th.  Before the 5/24 rule I ALWAYS had preapprovals when I would check their link for that.  Once they implemented 5/24, no more pre-approvals for me.

 

I happened to check the link right at the end of July 2016.  Still no pre-approvals.  A thread I read here prompted me to check again on August 1st.  Pre-approvals again! 

 

This leads me to believe you're clear the first day of the 24th month, rather than 1 year to the day (or day after).  

 

I will qualify this by saying that I haven't actually applied for a card since the pre-approvals reappeared, though, so in theory I could still be denied for 5/24.  I really don't think I would be, though...

Chase Sapphire Reserve $30,000 | Amex BCP $30,000 | Discover It $30,000 | Citi Simp $16,500 | NFCU Cash Rewards $14,400 | Citi DC $9,800 | Chase Freedom $9,000 | VS $4,100 | Kohl's $3,000 | Loft $3,000

EQ 823 ~ TU 817 ~ EXP 808 | ITG since 8/24/2016
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