topic Re: Think I got past the 5/24 rule by App-o-rama before Chase found out? in Credit Card Approvals

Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 17:13:07 GMT

So, I have decent credit scores (800 or higher on all 3 bureaus as of right now, which will probably take a dive after this all said and done) and finalized some auto loans a couple months ago and wasn't needing to apply for a mortgage for at least a year (maybe 2), so I thought what the hell Ill go on an app-o-rama and then garden. Not sure if I'm an odd data point or Ive just been loyal to chase and they decided to waive the rule of 5/24 and 50% income rule. Did 3 CLI, and 6 cards apps, all approved.

After I had done these, I decided to apply for United Club card and forgot about 5/24. Got the well let you know and called this morning and to my shagrin, got approved.

I was gonna post details (amounts, income, etc), but wasn't sure how safe that is.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 17:33:34 GMT

The Chase giveth and the Chase taketh away.. 🙏

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 17:36:32 GMT

Do you think they will withdraw it?

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 17:39:04 GMT

It's happened. Just wait and see I guess.
Hopefully you bypasses it.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 17:41:07 GMT

Bummer, guess I shouldn't count those chickens...

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 17:45:44 GMT

I'm sure others will chime in with experiences/ knowledge.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

800FICOGoal — Mon, 03 Jun 2019 17:55:27 GMT

@Anonymous wrote:
The Chase giveth and the Chase taketh away.. 🙏

Credit Yoda says " Many cards you have, I sense AA in your future."

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 18:31:29 GMT

"App-o-rama"

I could have sworn that term went out in 2015.

@Anonymous wrote:

After I had done these, I decided to apply for United Club card and forgot about 5/24. Got the well let you know and called this morning and to my shagrin, got approved.

I was gonna post details (amounts, income, etc), but wasn't sure how safe that is.

Why chagrin? Its not like you were forced to call in against your will; that was a conscious decision you made.

As for what adverse action is likely to occur for exceeding 5/24...we will see.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 18:38:15 GMT

Just to be clear, those 6 apps that were approved, but were not from chase. I have 3 cards with chase (for several years), maybe 4 now depending on the outcome. I called back to ask them if I have any red flags on my file or if something could go wrong and ruin the relationship with Chase and they said no they dont think so. I mentioned Id gladly withdraw the application if I was at risk for anything but they said you were approved and that they have never seen something like that happen with an approval. I know thats only 1 data point but I'm worried now. For whats its worth my oldest account is 14 yrs, AAoA is 4 yrs, no derogatory remarks, no late payments, utilization is under 4%

What does an AA involve?

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Remedios — Mon, 03 Jun 2019 18:41:05 GMT

@Anonymous wrote:
Just to be clear, those 6 apps that were approved, but were not from chase. I have 3 cards with chase (for several years), maybe 4 now depending on the outcome. I called back to ask them if I have any red flags on my file or if something could go wrong and ruin the relationship with Chase and they said no they dont think so. I mentioned Id gladly withdraw the application if I was at risk for anything but they said you were approved and that they have never seen something like that happen with an approval. I know thats only 1 data point but I'm worried now. For whats its worth my oldest account is 14 yrs, AAoA is 4 yrs, no derogatory remarks, no late payments, utilization is under 4%

What does an AA involve?

Hi and welcome to the forums

Congrats on your approvals

Can you just clarify one thing...you actually called Chase to ask if there were "flags" on your account after the apps you've done?

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 18:43:40 GMT

Yeah.. am I digging a hole for myself? Should I put down the bloody knife?

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Remedios — Mon, 03 Jun 2019 18:49:57 GMT

@Anonymous wrote:
Yeah.. am I digging a hole for myself? Should I put down the bloody knife?

lol yeah kinda

Sky is not falling though. Wait for your cards to come in, use them as normal and forget about applying for a while

Just dont call any more lenders.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 18:51:55 GMT

Chase doesn't know about your app spree until they soft pull your account a month from now and see all the new accounts. Hopefully, your new Chase account sticks.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 18:57:18 GMT

Yeah, I think I'm done for awhile. Thanks for all your help!

I think I have been successfuly "scared straight." Ill report back in a couple of weeks to tell you what (hopefully nothing) happened.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 19:13:21 GMT

@Anonymous wrote:
Just to be clear, those 6 apps that were approved, but were not from chase. I have 3 cards with chase (for several years), maybe 4 now depending on the outcome. I called back to ask them if I have any red flags on my file or if something could go wrong and ruin the relationship with Chase and they said no they dont think so. I mentioned Id gladly withdraw the application if I was at risk for anything but they said you were approved and that they have never seen something like that happen with an approval. I know thats only 1 data point but I'm worried now. For whats its worth my oldest account is 14 yrs, AAoA is 4 yrs, no derogatory remarks, no late payments, utilization is under 4%

What does an AA involve?

Some recent reading:

Spree results : Chase closed one of my CC

Most cards you've been approved for in one day? (see ttulaw's comment)

Chase approved card came its closed

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 19:33:00 GMT

@Remedios wrote:
@Anonymous wrote:
Just to be clear, those 6 apps that were approved, but were not from chase. I have 3 cards with chase (for several years), maybe 4 now depending on the outcome. I called back to ask them if I have any red flags on my file or if something could go wrong and ruin the relationship with Chase and they said no they dont think so. I mentioned Id gladly withdraw the application if I was at risk for anything but they said you were approved and that they have never seen something like that happen with an approval. I know thats only 1 data point but I'm worried now. For whats its worth my oldest account is 14 yrs, AAoA is 4 yrs, no derogatory remarks, no late payments, utilization is under 4%

What does an AA involve?

Hi and welcome to the forums

Congrats on your approvals

Can you just clarify one thing...you actually called Chase to ask if there were "flags" on your account after the apps you've done?

PSA: Don't Call The Bank

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 19:32:28 GMT

Thanks for this. Ugh, my stomachs in knots now. Had I known I wasnt invicible with my scores and history, I wouldnt have applied for so many. Lesson learned (hard) I guess.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Anonymous — Mon, 03 Jun 2019 19:41:09 GMT

No use in stressing out.
What's done is done.
Let us know how it works outm

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

Remedios — Mon, 03 Jun 2019 19:44:34 GMT

@Anonymous Dont sweat it now, not everyone gets AA. It's just one of those things where we can tell you which instances may trigger it, but no one can tell you for certain that it will happen. Or won't, for that matter.

It's out of your hands now, hopefully everything will go well and it will be nothing but an opportunity to call this "lesson learned"

Seriously, relax. There are a few things in life worth getting an aneurysm over. Credit cards are not one of them.

Re: Think I got past the 5/24 rule by App-o-rama before Chase found out?

pinkandgrey — Mon, 03 Jun 2019 19:55:18 GMT

Congrats! Hopefully Chase won’t pull back any approval on you.