Question on CSP 5 account rule

[Anonymous]

I'm looking to apply for the CSP but have opened all 5 of my accounts within the past 2 years.

I have a Wells Fargo student card which is totally useless, and an Amex PRG I'll be closing soon before the fee hits.

I'm wondering if these accounts would count towards Chase's 5-account rule if I close them before applying for the CSP...

Or, should I wait out the full 2 years from when my oldest account was opened?

Thanks!

[Anonymous]

---

@Anonymous wrote:

I'm looking to apply for the CSP but have opened all 5 of my accounts within the past 2 years.

I have a Wells Fargo student card which is totally useless, and an Amex PRG I'll be closing soon before the fee hits.

I'm wondering if these accounts would count towards Chase's 5-account rule if I close them before applying for the CSP...

Or, should I wait out the full 2 years from when my oldest account was opened?

Thanks!

---

Yes, they count even if you close them 

[Anonymous]

Yes, they count even if closed.

[Anonymous]

Ok, thanks for the quick response!

Too bad though... I guess I'll be waiting until August.

[Anonymous]

---

@Anonymous wrote:

Ok, thanks for the quick response!

Too bad though... I guess I'll be waiting until August.

---

Waiting is good..  it will work out in the end.. It always does..

[Anonymous]

Does the 5 account rule include store cards?

[Tryingtogetbetter]

Not that I want to encourage you to go against what everyone is saying, but I applied for the CSP and was approved this week with about 7 accounts opened within the last 24 months. I do already have a Slate card with them that I transferred a balance over and paid it off with the 0% interest offer plus Ive had a checking and savings acct with them for a few years, so not sure if that helped. I did try a few times over the last 12 months and was denied but I finally got in.

[gdale6]

---

@Anonymous wrote:
Does the 5 account rule include store cards?

---

Nope, only in house Chase Bankcards.

Edit for clarity: It doesnt apply to apping for their store or cobranded cards

[Anonymous]

---

@Anonymous wrote:
Does the 5 account rule include store cards?

---

Yes...any new tradeline line on your CR will count.

[Anonymous]

Just as a data point; I have 5 new accounts this year that are already posting on my report. I was instantly approved for both a Freedom and a Sapphire Preferred on Thanksgiving day. I bank with Chase and they receive my Direct Deposit each week.

While I wouldn't encourage anyone to apply for a card if they don't meet 5 in 24 criteria, it seems that perhaps they DO take relationship into account. Or the computer system didn't take the Freedom they had just approved me for into account when I received my instant approval for the Sapphire. I've also seen a lot of conflicting information about whether you can receive 2 instant approvals same day. I did and Credit Check Total has me listed at 1 inquiry for both cards.