Chase wants my wife more than I do. (kidding)

Anonymous · ‎11-04-2015

So I don't post a lot, but I have an addiction to reading through the threads for info as I try to increase my credit score/profile. Lately I've been reading a lot of posts about Chase cards and the 5/24 rule. I was under the impression that this means 5 accounts in 24 months, but I could be wrong. Im wondering is that the standard, or thought of as an absolute rule. The reason I ask is because my wife has opened 6 six credit card accounts, also refinanced a car loan and chase sent her an offer for the slate. About two days later they sent her a prequal for the freedom also. She ended up responding to the slate offer and they gave her a limit of 10.2k (added me as an AU). Two days later she got another offer for the Freedom, I figured it would just sent before they got her Slate app and told her it would be best to ignore it. Well she has been getting Freedom offers in the mail now, every 2-3 days, and the latest two have both had APR drops of almost 4%. I don't think she will respond anyways because we are going to try and figure out an actual plan for building our profiles. But anyone have similar experience with something like this?

Anonymous · ‎11-04-2015

@Anonymous wrote:
So I don't post a lot, but I have an addiction to reading through the threads for info as I try to increase my credit score/profile. Lately I've been reading a lot of posts about Chase cards and the 5/24 rule. I was under the impression that this means 5 accounts in 24 months, but I could be wrong. Im wondering is that the standard, or thought of as an absolute rule. The reason I ask is because my wife has opened 6 six credit card accounts, also refinanced a car loan and chase sent her an offer for the slate. About two days later they sent her a prequal for the freedom also. She ended up responding to the slate offer and they gave her a limit of 10.2k (added me as an AU). Two days later she got another offer for the Freedom, I figured it would just sent before they got her Slate app and told her it would be best to ignore it. Well she has been getting Freedom offers in the mail now, every 2-3 days, and the latest two have both had APR drops of almost 4%. I don't think she will respond anyways because we are going to try and figure out an actual plan for building our profiles. But anyone have similar experience with something like this?

I've given up at understanding Chase. If she's getting mailers with solid APRs, she's probably good to apply. As Freedom actually has rewards, I would take that over Slate, unless you need to hold a balance for a while. I think it is probably worth applying if she's getting the mailers.

taxi818 · ‎11-04-2015

Caution. Even with the mailers and great offers people that went for one of their mainstay cards were denied. The victim of looking at the mailers. In normal situations it would be golden. Just for one of those other two. Csp or Freedom, Caution is needed. Yes of course nothing is absolute. as your Dw getting a slate with 6 accounts. This is not a big surprise. I got my freedom with about 8 new accounts and then got my Marriot. (co branded) with 11 new accounts. So of course it is a Ymmv. But to make it simple. Many many more with 5 plus accounts have been denied than approved. no need to take the extra hit if not neccessary.

Anonymous · ‎11-04-2015

Very true, anything can always happen. She won't be responding because we are saving inqs for a car purchase next April. I was just interested if anyone had seen something similar as they are sending her mailers constantly, there are 8 in a two week span. Thanks all for taking the time to respond. Very interesting forum.

Anonymous · ‎11-04-2015

My understanding is that mailers with solid APRs (rather than a range) are pretty reliable for applications.