Would AU accts count toward Case's 5x24 rule?

[Anonymous]

The wife and I are rebuilding our credit off of a discover and nfcu CC in each of our names with the other as an authorized user, and a nfcu CLOC. She's sitting around the 640s and I'm sitting around the 610s. The ultimate goal is to have a chase freedom and CSP for the travel rewards once our scores get closer to 700. However now I'm worried we may have to wait 2 years for these 5 accounts to age.

If so, any other reward cards worth having that don't have the 5x24 rule? We generally stay in Hilton properties and don't really fly too often, but I dont want to be locked into an hhonors card from what I've heard about the weakness of the rewards

[CreditInspired]

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@Anonymous wrote:
The wife and I are rebuilding our credit off of a discover and nfcu CC in each of our names with the other as an authorized user, and a nfcu CLOC. She's sitting around the 640s and I'm sitting around the 610s. The ultimate goal is to have a chase freedom and CSP for the travel rewards once our scores get closer to 700. However now I'm worried we may have to wait 2 years for these 5 accounts to age.

If so, any other reward cards worth having that don't have the 5x24 rule? We generally stay in Hilton properties and don't really fly too often, but I dont want to be locked into an hhonors card from what I've heard about the weakness of the rewards

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By my understanding, you each only have two cards so that's 2/24.  I don't think being an AU counts because the AU is not responsbile for CC. You're okay. The CLOC is a loan, not a CC. Good luck

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:
The wife and I are rebuilding our credit off of a discover and nfcu CC in each of our names with the other as an authorized user, and a nfcu CLOC. She's sitting around the 640s and I'm sitting around the 610s. The ultimate goal is to have a chase freedom and CSP for the travel rewards once our scores get closer to 700. However now I'm worried we may have to wait 2 years for these 5 accounts to age.

If so, any other reward cards worth having that don't have the 5x24 rule? We generally stay in Hilton properties and don't really fly too often, but I dont want to be locked into an hhonors card from what I've heard about the weakness of the rewards

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By my understanding, you each only have two cards so that's 2/24.  I don't think being an AU counts because the AU is not responsbile for CC. You're okay. The CLOC is a loan, not a CC. Good luck

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Well, that's not quite true.  Chase has been known to count an AU account towards 5/24.  Now some people have had success convincing the CSR on recon that it shouldn't count but many others ave failed and still denied.  To be safe you should remove yourself as an AU and make sure that it is removed from the CRAs before applying.  You can always add yourself back on after applying for the Chase card.

Additionally the 5/24 rule is for revolving credit .  A CLOC or PLOC are not loans but revolving credit accounts just like credit cards.  Therefore, they definitely count towards 5/24.

[Anonymous]

Newbie here - what's the 5/24 rule?

[Anonymous]

5 new accounts in 24 months

[CreditInspired]

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@Anonymous wrote:

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@CreditInspired wrote:

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@Anonymous wrote:
The wife and I are rebuilding our credit off of a discover and nfcu CC in each of our names with the other as an authorized user, and a nfcu CLOC. She's sitting around the 640s and I'm sitting around the 610s. The ultimate goal is to have a chase freedom and CSP for the travel rewards once our scores get closer to 700. However now I'm worried we may have to wait 2 years for these 5 accounts to age.

If so, any other reward cards worth having that don't have the 5x24 rule? We generally stay in Hilton properties and don't really fly too often, but I dont want to be locked into an hhonors card from what I've heard about the weakness of the rewards

---

By my understanding, you each only have two cards so that's 2/24.  I don't think being an AU counts because the AU is not responsbile for CC. You're okay. The CLOC is a loan, not a CC. Good luck

---

 

Well, that's not quite true.  Chase has been known to count an AU account towards 5/24.  Now some people have had success convincing the CSR on recon that it shouldn't count but many others ave failed and still denied.  To be safe you should remove yourself as an AU and make sure that it is removed from the CRAs before applying.  You can always adld yourself back on after applying for the Chase card.

Additionally the 5/24 rule is for revolving credit accoounts.  A CLOC or PLOC are not loans but revolving credit accounts just like credit cards.  Therefore, they definitely count towards 5/24.

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Thanks Irish for correcting my erroneous response to OP. See, this is what happens when I respond before getting my jolt of java first. I truly appreciate your providing corrected information.

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:

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@CreditInspired wrote:

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@Anonymous wrote:
The wife and I are rebuilding our credit off of a discover and nfcu CC in each of our names with the other as an authorized user, and a nfcu CLOC. She's sitting around the 640s and I'm sitting around the 610s. The ultimate goal is to have a chase freedom and CSP for the travel rewards once our scores get closer to 700. However now I'm worried we may have to wait 2 years for these 5 accounts to age.

If so, any other reward cards worth having that don't have the 5x24 rule? We generally stay in Hilton properties and don't really fly too often, but I dont want to be locked into an hhonors card from what I've heard about the weakness of the rewards

---

By my understanding, you each only have two cards so that's 2/24.  I don't think being an AU counts because the AU is not responsbile for CC. You're okay. The CLOC is a loan, not a CC. Good luck

---

 

Well, that's not quite true.  Chase has been known to count an AU account towards 5/24.  Now some people have had success convincing the CSR on recon that it shouldn't count but many others ave failed and still denied.  To be safe you should remove yourself as an AU and make sure that it is removed from the CRAs before applying.  You can always adld yourself back on after applying for the Chase card.

Additionally the 5/24 rule is for revolving credit accoounts.  A CLOC or PLOC are not loans but revolving credit accounts just like credit cards.  Therefore, they definitely count towards 5/24.

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Thanks Irish for correcting my erroneous response to OP. See, this is what happens when I respond before getting my jolt of java first. I truly appreciate your providing corrected information.

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You're welcome and I totally understand the need for the jolt

[Anonymous]

Being added as an AU DOES count.

http://www.doctorofcredit.com/chase-524-rule-explained-detail-need-know/

[Creditplz]

I was denied in January 2016 for a freedom, due to 5/24 when I was only 3/24, AU brought me up to 6/24.. tried Recon and was quickly shut down.

[Anonymous]

@Matt4200, thanks for the link. Guess we'll take the apply and beg during recon approach. If they don't approve then we'll get another rewards card with a nice bonus while waiting on Chase.