The Chase 5/24 Rule -Yahoo News Article

[Anonymous]

Please click on link or copy to browser. This story posted on 4/12/16 in Yahoo Fiance News

http://finance.yahoo.com/news/chase-5-24-rule-mile-churners-211932315.html

[Revelate]

I'm truly suprised it took this long to make national media, didn't YIM first suggest it back in something like November of last year?  5 months behind?  Wow.

[Anonymous]

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@Revelate wrote:

I'm truly suprised it took this long to make national media, didn't YIM first suggest it back in something like November of last year?  5 months behind?  Wow.

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Actually, I can't remember who started talking about it first, but I do know it was being discussed here on MyFico about a month or so after I was approved for my Freedom, so we have been talking about it since April or May 2015 - that means Yahoo News is a year behind in its reporting.

[Open123]

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@Revelate wrote:

I'm truly suprised it took this long to make national media, didn't YIM first suggest it back in something like November of last year?  5 months behind?  Wow.

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Right, classic! 

One of the triggers we use to sell assets is whenever a national article writes, "it may be time to buy XYZ and things are looking up."  Whenever you read this or hear the general public uttering it, then sell and short.

Except for Apple, works every time.

[Anonymous]

How exactly does the 5/24 rule work? 5 new accounts such as any tradeline, like an installment loan? Or is it strictly 5 new credit cards that will disqualify you?