topic Re: Chase 5/24 rule in Credit Card Applications

Chase 5/24 rule

leo187um — Wed, 04 Jan 2023 04:13:07 GMT

Hi I have a few questions about the famous 5/24 rule with Chase credit cards. I've seen many variations of the rule so wanted to come here to get the definitive answer to what the 5/24 entails. Please answer the following:

Does the 5 only count "Cards opened" or do they include all application/hard inquiries for credit cards?
Does the 5 include all account types (do personal loans count as part of the 5 for example)?
When applying for the Business Ink credit cards, does it also have a 5/24 rule?
All else equal does it matter in terms of limits you receive if you're at a 1/24 or 5/24 hypothetically when applying for a Chase card?
Does the 5/24 rule come into effect for CLI requests via the app?

Thanks.

Re: Chase 5/24 rule

805orbust — Wed, 04 Jan 2023 05:26:54 GMT

So 5/24 applies to both business and personal cards. There have been more occasions lately where Chase approves despite 5/24 status, but it's not a rule. It only measures new accounts opened. It is my understanding that all accounts are counted. I can't comment on the effect it has on starting limits, however it is a factor in increases as well. I'm gonna tag @FinStar as well in case I missed anything 😉

Re: Chase 5/24 rule

FinStar — Wed, 04 Jan 2023 05:20:43 GMT

@leo187um wrote:
Hi I have a few questions about the famous 5/24 rule with Chase credit cards. I've seen many variations of the rule so wanted to come here to get the definitive answer to what the 5/24 entails. Please answer the following:

Does the 5 only count "Cards opened" or do they include all application/hard inquiries for credit cards? This is specific to accounts opened in the past 24 months. Keep in mind, the 5/24 restriction is one hurdle of many that Chase's algorithms will consider since too many inquiries can be a factor as well.
Does the 5 include all account types (do personal loans count as part of the 5 for example)? It includes all revolving and charge types of accounts, whether it's an AmEx Gold Card, a store card, a personal revolving line of credit, overdraft line of credit, and so on. Typically, installment loans such as mortgages, vehicle loans or student loans are excluded from the count -- emphasis on count.
When applying for the Business Ink credit cards, does it also have a 5/24 rule? Yes, Chase's biz cards are also subject to 5/24 when you apply.
All else equal does it matter in terms of limits you receive if you're at a 1/24 or 5/24 hypothetically when applying for a Chase card? Assigned limits + APR are risk-based on a plethora of factors. Complex algorithms make the determination. For instance, whether DTI is low/high, capacity, your scores (Chase uses their own model - CARS), too many open revolving accounts, existing accounts with Chase, income, etc. So, it's all profile-specific and not really where you stand as far as 1/24 or 4/24.
Does the 5/24 rule come into effect for CLI requests via the app? It is still unknown if 5/24 applies to any pre-qualified [SP] CLIs via the app -- still based on eligibility. Though, if you request a standard CLI through an agent or SM, any declined requests have indicated that 5/24 has been cited as a reason in a variety of cases.
Thanks.

@805orbust - thanks for the tag and you covered it pretty well.

For the specifics, reference comments above @leo187um .

Re: Chase 5/24 rule

leo187um — Wed, 04 Jan 2023 05:17:40 GMT

Awesome! Very helpful.

Re: Chase 5/24 rule

Mdowning30 — Thu, 05 Jan 2023 15:49:11 GMT

Another good note is that the 5/24 rule either doesn't apply or has relaxed in regards to co-branded cards such as the Amazon Prime Visa, United, Southwest, and possibly Hyatt.

Re: Chase 5/24 rule

FinStar — Thu, 05 Jan 2023 20:13:00 GMT

@Mdowning30 wrote:
Another good note is that the 5/24 rule either doesn't apply or has relaxed in regards to co-branded cards such as the Amazon Prime Visa, United, Southwest, and possibly Hyatt.

@Mdowning30 - this is not 100% accurate. Do a search for denials for those particular products for applicants who were not approved as a result of 5/24. While in a variety of cases Chase may have approved specific profiles, that doesn't translate into all profiles. It's a fairly small percentage. Most individuals can bypass the Amazon 5/24 restriction via through a pre-qualified offer, but we've also seen denials on that too. There are plenty of DPs here, Reddit and FT.

Re: Chase 5/24 rule

Jordan23ww — Thu, 05 Jan 2023 20:31:08 GMT

@FinStar wrote:
@leo187um wrote:
Hi I have a few questions about the famous 5/24 rule with Chase credit cards. I've seen many variations of the rule so wanted to come here to get the definitive answer to what the 5/24 entails. Please answer the following:

Does the 5 only count "Cards opened" or do they include all application/hard inquiries for credit cards? This is specific to accounts opened in the past 24 months. Keep in mind, the 5/24 restriction is one hurdle of many that Chase's algorithms will consider since too many inquiries can be a factor as well.
Does the 5 include all account types (do personal loans count as part of the 5 for example)? It includes all revolving and charge types of accounts, whether it's an AmEx Gold Card, a store card, a personal revolving line of credit, overdraft line of credit, and so on. Typically, installment loans such as mortgages, vehicle loans or student loans are excluded from the count -- emphasis on count.
When applying for the Business Ink credit cards, does it also have a 5/24 rule? Yes, Chase's biz cards are also subject to 5/24 when you apply.
All else equal does it matter in terms of limits you receive if you're at a 1/24 or 5/24 hypothetically when applying for a Chase card? Assigned limits + APR are risk-based on a plethora of factors. Complex algorithms make the determination. For instance, whether DTI is low/high, capacity, your scores (Chase uses their own model - CARS), too many open revolving accounts, existing accounts with Chase, income, etc. So, it's all profile-specific and not really where you stand as far as 1/24 or 4/24.
Does the 5/24 rule come into effect for CLI requests via the app? It is still unknown if 5/24 applies to any pre-qualified [SP] CLIs via the app -- still based on eligibility. Though, if you request a standard CLI through an agent or SM, any declined requests have indicated that 5/24 has been cited as a reason in a variety of cases.
Thanks.
@805orbust - thanks for the tag and you covered it pretty well.

For the specifics, reference comments above @leo187um .

@FinStar great info! I'd like to add as a small sample size my experience for @leo187um regarding soft pull auto limit increases with Chase, being at or over 5/24. Neither my wife or I have yet to receive an automatic limit increase on her Amazon Prime card or my original Chase Freedom in the 3 plus years we've had them. We've been over 5/24 since March 2020 when she got the Prime and added me as an AU until November 2022 when we finally dropped below. I've read about the wave of limit increases on the Prime card Chase was throwing out after Amazon was rumored to be parting ways with Chase, yet she still got nothing. We frequently use both our cards and always pay in full. So I am of the belief that being over 5/24 plays a role in both automatic limit increases and from what I've been told requests for limit increases with Chase.

Re: Chase 5/24 rule

FinStar — Thu, 05 Jan 2023 20:54:05 GMT

@Jordan23ww wrote:

@FinStar great info! I'd like to add as a small sample size my experience for @leo187um regarding soft pull auto limit increases with Chase, being at or over 5/24. Neither my wife or I have yet to receive an automatic limit increase on her Amazon Prime card or my original Chase Freedom in the 3 plus years we've had them. We've been over 5/24 since March 2020 when she got the Prime and added me as an AU until November 2022 when we finally dropped below. I've read about the wave of limit increases on the Prime card Chase was throwing out after Amazon was rumored to be parting ways with Chase, yet she still got nothing. We frequently use both our cards and always pay in full. So I am of the belief that being over 5/24 plays a role in both automatic limit increases and from what I've been told requests for limit increases with Chase.

@Jordan23ww

Right. The general consensus seems to be that if a profile is over 5/24, then that also applies to customer-initiated CLI requests. I'm not sure (since we'll never know) how it might apply to auto-CLIs or perhaps it could be treated much the same way when someone could bypass the 5/24 restriction for new apps if a pre-approved offer is dangled in front of us.

My experience last year (during the auto-CLI frenzy), especially with Amazon and CSP, >2 auto-CLI were granted< and I was definitely way over 5/24, more like HolyMoly/24 and Chase granted it on those 2 particular accounts. I can only assume the history and usage 🤷‍♂️

Re: Chase 5/24 rule

leo187um — Thu, 05 Jan 2023 20:58:56 GMT

Chase seems to have some good business credit cards but I will have to wait until July 2024 to become eligible to apply...

Would it be better to go for Amex? Any other recommendations for biz cards with high limits 0pct APR periods to shoot for? Credit score is very good category..

Re: Chase 5/24 rule

FinStar — Thu, 05 Jan 2023 21:03:58 GMT

@leo187um wrote:
Chase seems to have some good business credit cards but I will have to wait until July 2024 to become eligible to apply...

Would it be better to go for Amex? Any other recommendations for biz cards with high limits 0pct APR periods to shoot for? Credit score is very good category..

For any business credit recommendations or questions, you may search for those particular topics or post in the Business Credit section of the forums.

Re: Chase 5/24 rule

Mdowning30 — Fri, 06 Jan 2023 16:00:41 GMT

Im 8/24 and had 2 successful CLI's. I'll press my luck soon and apply for the United Explorer.

Re: Chase 5/24 rule

MyFault — Fri, 06 Jan 2023 21:14:10 GMT

@Mdowning30 wrote:
Im 8/24 and had 2 successful CLI's. I'll press my luck soon and apply for the United Explorer.

I was at 7/24 when i was approved for the United Explorer in Feb of 2021. However, Chase has historically really liked my file. I know LOTS of people who are denied for cobranded cards while over 5/24. So, for cobranded cards it's simply just a guessing game. 5/24 still applies, but you can get past it if Chase really likes you, and i don't know how you'd even tell if Chase likes you other than having good luck with their approvals and CLI's.

Re: Chase 5/24 rule

Jordan23ww — Fri, 06 Jan 2023 21:52:07 GMT

@FinStar wrote:
@Jordan23ww wrote:

@FinStar great info! I'd like to add as a small sample size my experience for @leo187um regarding soft pull auto limit increases with Chase, being at or over 5/24. Neither my wife or I have yet to receive an automatic limit increase on her Amazon Prime card or my original Chase Freedom in the 3 plus years we've had them. We've been over 5/24 since March 2020 when she got the Prime and added me as an AU until November 2022 when we finally dropped below. I've read about the wave of limit increases on the Prime card Chase was throwing out after Amazon was rumored to be parting ways with Chase, yet she still got nothing. We frequently use both our cards and always pay in full. So I am of the belief that being over 5/24 plays a role in both automatic limit increases and from what I've been told requests for limit increases with Chase.
@Jordan23ww
Right. The general consensus seems to be that if a profile is over 5/24, then that also applies to customer-initiated CLI requests. I'm not sure (since we'll never know) how it might apply to auto-CLIs or perhaps it could be treated much the same way when someone could bypass the 5/24 restriction for new apps if a pre-approved offer is dangled in front of us.

My experience last year (during the auto-CLI frenzy), especially with Amazon and CSP, >2 auto-CLI were granted< and I was definitely way over 5/24, more like HolyMoly/24 and Chase granted it on those 2 particular accounts. I can only assume the history and usage 🤷‍♂️

@FinStar That is awesome to hear you got awarded those auto increases despite the 5/24 status! Thank you for sharing this! It's always good to hear from others to see what is possible. Hopefully my time comes soon!

Re: Chase 5/24 rule

Mdowning30 — Sat, 07 Jan 2023 01:53:48 GMT

Well I also have a 8 year relationship with Chase Checking and savings.

Re: Chase 5/24 rule

DenverFox — Fri, 03 Feb 2023 19:14:46 GMT

Hi All,

Specific to the Auto-CLI for Chase in excess of the 5/24 rule. I opened a Chase United Club card mid 2022 and they gave me a 15k limit. Mind you, I have pushed about 40k through the card sicne then, but during that time (to date with the card age of around 9 months), they have auto increased me twice, the first time from 15k --> 20k and 2 months later they increased it from 20k to 35k. Both of these increases happened while I exceeded the 5/24 rule and without me requesting it.

Hope this helps

Re: Chase 5/24 rule

Wavester64 — Thu, 18 Jan 2024 19:48:41 GMT

@FinStar I know this is an oldie but I have a 5/24 question and you seem like a good person to ask.

I am at 5/24, next month will be 4/24 and I know they advise to wait until 25th month, so we are looking at March 2024.

Citi is offering me to take a loan on existing credit card (Citi CC). I am almost positive that should not affect 5/24, but thought I would ask just to make sure.

Re: Chase 5/24 rule

AyaMai — Sun, 17 Nov 2024 03:32:30 GMT

@FinStar wrote:
@leo187um wrote:
Hi I have a few questions about the famous 5/24 rule with Chase credit cards. I've seen many variations of the rule so wanted to come here to get the definitive answer to what the 5/24 entails. Please answer the following:

Does the 5 only count "Cards opened" or do they include all application/hard inquiries for credit cards? This is specific to accounts opened in the past 24 months. Keep in mind, the 5/24 restriction is one hurdle of many that Chase's algorithms will consider since too many inquiries can be a factor as well.
Does the 5 include all account types (do personal loans count as part of the 5 for example)? It includes all revolving and charge types of accounts, whether it's an AmEx Gold Card, a store card, a personal revolving line of credit, overdraft line of credit, and so on. Typically, installment loans such as mortgages, vehicle loans or student loans are excluded from the count -- emphasis on count.
When applying for the Business Ink credit cards, does it also have a 5/24 rule? Yes, Chase's biz cards are also subject to 5/24 when you apply.
All else equal does it matter in terms of limits you receive if you're at a 1/24 or 5/24 hypothetically when applying for a Chase card? Assigned limits + APR are risk-based on a plethora of factors. Complex algorithms make the determination. For instance, whether DTI is low/high, capacity, your scores (Chase uses their own model - CARS), too many open revolving accounts, existing accounts with Chase, income, etc. So, it's all profile-specific and not really where you stand as far as 1/24 or 4/24.
Does the 5/24 rule come into effect for CLI requests via the app? It is still unknown if 5/24 applies to any pre-qualified [SP] CLIs via the app -- still based on eligibility. Though, if you request a standard CLI through an agent or SM, any declined requests have indicated that 5/24 has been cited as a reason in a variety of cases.
Thanks.
@805orbust - thanks for the tag and you covered it pretty well.

For the specifics, reference comments above @leo187um .

How far apart you apply for a 2nd Chase credit card then 3rd after the 1st Chase Card approval, status inquiries 0/12 , 4/24 " 2 denied, 2 approved", 2/24 Chase 5/24 rule in January 2026. Your thoughts, already survived a year of gardeneing.