topic Important 5/24 Chase Datapoint in Credit Card Approvals

Important 5/24 Chase Datapoint

shoo — Wed, 15 Jun 2016 04:59:06 GMT

Hello Friends!

I should probably preface with a very strong YMMV

I searched the forums for hours looking for people in the same situation as me in terms of Chase's 5/24 rule. About 1 minute ago (6/15/16), I applied online and was instantly APPROVED for the CSP then Freedom.

There's been so much debate about whether or not store cards count and whether or not the month/day of the app matters. I don't know the for-sure answers, but here is my experience:

I DID NOT have a prequalification (believe me, I've been checking for months up until the last second before hitting submit on my apps lol!).

I DO NOT have a banking relationship (checking/savings) with Chase nor have I ever.

I have exactly FIVE credit cards opened in the last 24 months, however, my AE store card turned 24 months old on June 8, 2016 so I took a chance .

American Eagle STORE card - June 8, 2014

Chase AARP - June 20, 2015

Sallie Mae - June 20, 2015

BOFA Travel Rewards - June 20, 2015

AMEX BCP - June 20, 2015

FICOs (that I know for sure) are in sig - sitting around 740-750 each as of last month. No baddies. AAoA like 1.2 years

I really really hopes this helps other people who are just wanting a datapoint that matches their apping predicament!

Re: Important 5/24 Chase Datapoint

creditguy — Wed, 15 Jun 2016 09:21:49 GMT

Congrats on your approvals. Store cards do count in the 5/24 rule, but I would venture to guess that since your oldest card was 24 months plus roughly one week old, you technically did not fall under the 5/24 rule.

Re: Important 5/24 Chase Datapoint

RonM21 — Wed, 15 Jun 2016 10:06:20 GMT

Thanks for the helpful info

Re: Important 5/24 Chase Datapoint

kdm31091 — Wed, 15 Jun 2016 12:38:50 GMT

@creditguy wrote:
Congrats on your approvals. Store cards do count in the 5/24 rule, but I would venture to guess that since your oldest card was 24 months plus roughly one week old, you technically did not fall under the 5/24 rule.

Agreed here.

Almost every exception to 5/24 that I've seen has been someone who was either right at 5/24 or very borderline, such as OP. I haven't seen anyone with say, 20 cards in the last 2 years, be an exception.

Re: Important 5/24 Chase Datapoint

SunriseEarth — Wed, 15 Jun 2016 20:11:24 GMT

Glad to see that you can be approved quickly after you're not longer 5/24. So assuming I don't get another card, looks like I can get into Chase in late August....of next year.

Re: Important 5/24 Chase Datapoint

CreditMagic7 — Wed, 15 Jun 2016 23:03:21 GMT

Nice. Thanks for sharing.

Re: Important 5/24 Chase Datapoint

Anonymous — Wed, 15 Jun 2016 23:22:46 GMT

According to a post in credit card applications, it's now 2/24. At least that's what the knowledgeable CSR's at Chase told another member.

Re: Important 5/24 Chase Datapoint

shoo — Wed, 15 Jun 2016 23:51:16 GMT

@Anonymous wrote:
According to a post in credit card applications, it's now 2/24. At least that's what the knowledgeable CSR's at Chase told another member.

I just read that thread...I'm feeling skeptical though. 2/24 is pretty ridiculous if that's the game Chase wants to play. I'm gonna wait and see what other people are saying before I believe that. Also, if 2/24 IS a thing all of a sudden, I really pushed my luck lol.