topic Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule! in Credit Card Approvals

Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

ReturnOfTheCredi — Thu, 01 Feb 2024 22:02:14 GMT

A couple of days ago I noticed that the current SUB on the Chase Marriott Bonvoy Boundless card ($95AF), was a limited time five (5) FREE nights. We have a trip planned to Toronto in November, during which we'll be visiting the Niagara Falls area and staying a few nights at the Sheraton Fallsview Hotel. Seeing that SUB, I figured that would be an awesome opportunity to save some money; however, I knew I was well over the 5/24 rule, both on primary account holder cards and AU cards. My wife was also definitely over the 5/24 if counting the AU cards, but was at 4/24 with those taken out of the equation.

We decided to app her and see what happened. Based on all of the available information out there, I fully expected her to be declined and need to make a call to the RECON line (likely multiple times to get someone who would process the app without the AU cards). To my surprise, her app was instantly approved for a $15k SL (she already has a Sapphire Preferred with $10k). This is also despite us racking up a couple thousand extra dollars across a few other cards in the last month or so (all to be paid off in full within the next couple of months, but the banks don't know that).

Figured some here might be interested in this data point since all of the stories and articles out on the subject pretty explicitly say that AU accounts will count against the Chase 5/24 rule and result in a decline for almost all of their cards. It seems there are exceptions to this and I'd be curious to know if anyone has an idea of what the driving factor(s) may be behind the variance.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

KingRue8500 — Fri, 02 Feb 2024 00:28:23 GMT

Congrats on DW's Chase Marriott Bonvoy Boundless approval

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

CorpCrMgr1 — Fri, 02 Feb 2024 02:19:16 GMT

Congratulations on your DW approval!

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

CubanCheapSkate — Fri, 02 Feb 2024 03:04:57 GMT

Congratulations on the wife's approval and data points! 🥳 I can't apply for a Chase card until 2025 but useful info ☺️

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

nytokyobred79 — Fri, 02 Feb 2024 10:43:14 GMT

Congrats on your DW's approval and the dp's as well. Definitely useful info.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

BigBS — Fri, 02 Feb 2024 18:25:27 GMT

Congrats on DW's approval!

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

youngandcreditwrthy — Sat, 03 Feb 2024 03:27:28 GMT

@ReturnOfTheCredi congrats, but what are the other data points?

it what was utilization? maybe aaoa? clearly there was something to overcome the potential liability of high new accounts/inqurieis?

personally I think the 5/24 "rule" is just alleged. lol Every major chase card I've gotten including the marriot one was over 5/24 and with barely 700 FICOs, even 690 I think with 150k income. also bank with them too.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

ptatohed — Fri, 09 Feb 2024 05:19:39 GMT

This is the first I am hearing that being an AU counts against 5/24.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

NoMoreDebt — Sat, 10 Feb 2024 14:11:10 GMT

Congrats on the approval

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

ReturnOfTheCredi — Sat, 10 Feb 2024 15:02:44 GMT

@youngandcreditwrthy wrote:
@ReturnOfTheCredi congrats, but what are the other data points?

it what was utilization? maybe aaoa? clearly there was something to overcome the potential liability of high new accounts/inqurieis?

personally I think the 5/24 "rule" is just alleged. lol Every major chase card I've gotten including the marriot one was over 5/24 and with barely 700 FICOs, even 690 I think with 150k income. also bank with them too.

Great questions and good points. I believe at the time of application, utilization was 29%. Not entirely sure about aaoa, but we've both had a number of new openings and AUs over the last two years, so I suspect it's in a good range, but not outstanding. FICO was like 748 and our collective income is about $150k. That said, we do no other business with them except having the Sapphire Preferred card. No obvious reason for them to really overlook the "rule." And you may be right, it may be more alleged than anything, but there's definitely a ton of information out there about it that seemingly confirms its informal existence. Who knows. lol

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

ReturnOfTheCredi — Sat, 10 Feb 2024 15:00:47 GMT

@ptatohed wrote:
This is the first I am hearing that being an AU counts against 5/24.

If you do a quick Google search, you'll find many sources that claim AUs DO count. Can't confirm since we don't even know if the "rule" is actually a rule. lol! Here's a few pieces I've come across (and obviously, AU cards like Chase's where it doesn't seem linked to the SSN, probably don't count):

A Guide to Chase's 5/24 Rule | The Ascent by The Motley Fool

The Chase 5/24 rule | CNN Underscored Money

Do authorized user accounts count toward the 5/24 rule?

If you become an authorized user on someone else’s credit account, that card’s history will appear on your credit report and count toward your 5/24 limit. That said, you can call Chase’s reconsideration line if you’re denied because of this and ask that they exclude authorized user accounts.

Chase 5/24 Rule: What to Know - NerdWallet

Chase’s 5/24 rule: Everything you need to know - The Points Guy

What accounts add to your 5/24 status?

The following accounts count toward your 5/24 standing:

Authorized user cards from another person's personal card opened in the past 24 months, as they're reported on your credit report. However, you can call the Chase reconsideration line and ask for these accounts to not be considered.

What is the Chase 5/24 rule? (usatoday.com)

What contributes to your 5/24 status?

The Chase 5/24 rule can be confusing, so it helps to understand what types of accounts can contribute to your 5/24 count. Here’s a list:

Authorized user cards. Becoming an authorized user on someone else’s credit card does add to your 5/24 count. Some card issuers do not require your Social Security number when issuing your authorized user card. However, they may require you to add it when activating the card, or they may use personally identifying information to link the card to your credit report.

Does being added as an authorized user count towards 5/24? : CreditCards (reddit.com)

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

youngandcreditwrthy — Sat, 10 Feb 2024 17:02:11 GMT

income and a score that good borderline great are DEF reasons to over come tht rule imo :-)

Congrats again!!!! @ReturnOfTheCredi

Ps: I really wish instead of us having to guess about chases "requirements" they'd just tell us, but NOOOOOO that'd be too easy. I hate banks sometimes lol.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

ReturnOfTheCredi — Sat, 10 Feb 2024 17:40:58 GMT

@youngandcreditwrthy wrote:
income and a score that good borderline great are DEF reasons to over come tht rule imo :-)

Congrats again!!!! @ReturnOfTheCredi

Ps: I really wish instead of us having to guess about chases "requirements" they'd just tell us, but NOOOOOO that'd be too easy. I hate banks sometimes lol.

You may be right. Thank you, again!

Oh, and I agree with you. It'd be nice if this wasn't all left to our interweb speculation. I suspect every time Chase gets a "mention" for stuff like this, it's a net positive for them in one way or another; thus, there's no incentive for them to quiet the commentary, so to speak.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

firefox100 — Sat, 10 Feb 2024 18:29:08 GMT

Congratulations on your wife approval and enjoy your trip have fun also.

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

TSlop — Sun, 11 Feb 2024 18:36:05 GMT

Congrats on the approval!

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

Junejer — Mon, 12 Feb 2024 03:50:46 GMT

@ReturnOfTheCredi wrote:
A couple of days ago I noticed that the current SUB on the Chase Marriott Bonvoy Boundless card ($95AF), was a limited time five (5) FREE nights. We have a trip planned to Toronto in November, during which we'll be visiting the Niagara Falls area and staying a few nights at the Sheraton Fallsview Hotel. Seeing that SUB, I figured that would be an awesome opportunity to save some money; however, I knew I was well over the 5/24 rule, both on primary account holder cards and AU cards. My wife was also definitely over the 5/24 if counting the AU cards, but was at 4/24 with those taken out of the equation.

We decided to app her and see what happened. Based on all of the available information out there, I fully expected her to be declined and need to make a call to the RECON line (likely multiple times to get someone who would process the app without the AU cards). To my surprise, her app was instantly approved for a $15k SL (she already has a Sapphire Preferred with $10k). This is also despite us racking up a couple thousand extra dollars across a few other cards in the last month or so (all to be paid off in full within the next couple of months, but the banks don't know that).

Figured some here might be interested in this data point since all of the stories and articles out on the subject pretty explicitly say that AU accounts will count against the Chase 5/24 rule and result in a decline for almost all of their cards. It seems there are exceptions to this and I'd be curious to know if anyone has an idea of what the driving factor(s) may be behind the variance.

Congrats on your approval.

My guess, is the co-branded nature of the card allowed them to ignore 5/24. There are many instances of people being lol/24 and getting approved for the Chase Amazon card, for instance. Whatever the reason, congratulations!

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

TekkenQQ7 — Mon, 12 Feb 2024 12:17:10 GMT

Congratulations

Re: Wife approved for Chase Bonvoy Boundless...while exceeding the 5/24 rule!

CreditAggie — Sat, 24 Feb 2024 22:43:12 GMT

Congratulations on DW's Chase approval!