Is Chase 5/24 rule retroactive?

[Discover2016]

I was just thinking about this and maybe somebody has some insight or experience? I recently applied for and was approved for Chase Freedom, CSP and Ritz-Carlton (Freedom and CSP were pre-quals). They are card number 6, 7 and 8 this year. When I applied for them, only three of my accounts were reporting. Now when all my accounts are reporting in a month or so, I will have 8 new accounts in the last 24 months. Has Chase acted against any account holders for this with closures? Or should I be happy I had a small window for the 5/24 rule and just garden and relax for 2 years?

Interesting data point, my sis just got approved today for CSP with 9 new credit card accounts opened this year all reporting on her CR's, maybe Chase makes exceptions? She was also pre-qualed on CSP, she also has a banking relationship with Chase as do I.

[red259]

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@Discover2016 wrote:

I was just thinking about this and maybe somebody has some insight or experience? I recently applied for and was approved for Chase Freedom, CSP and Ritz-Carlton (Freedom and CSP were pre-quals). They are card number 6, 7 and 8 this year. When I applied for them, only three of my accounts were reporting. Now when all my accounts are reporting in a month or so, I will have 8 new accounts in the last 24 months. Has Chase acted against any account holders for this with closures? Or should I be happy I had a small window for the 5/24 rule and just garden and relax for 2 years?

Interesting data point, my sis just got approved today for CSP with 9 new accounts opened this year all reporting on her CR's, maybe Chase makes exceptions? She was also pre-qualed on CSP

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I don't think there would be AA because of the 5/24 rule. Maybe they will watch you for credit seeking but your limits are pretty low already. Were all your sister's accounts credit cards or were some store cards or something else? Your sister banks with chase? 

[CreditCuriosity]

You are fine.  Grats on your recent approvals..  

[OmarGB9]

Don't think so. That's more of a Barclays thing lol.

[kdm31091]

While any lender can take AA for whatever reason (or lack of reason) they choose, it's unlikely this rule will be applied retroactively. I wouldn't worry about it.

[Anonymous]

As long as you handle your accounts responsibly, I don't think you have anything to worry about. From my understanding no one stated that the 5/24 rule was finite, posters were sharing the information they were told  when calling CA about their accounts. Congrats on your recent approvals!!! Keep up the good work!!!