topic Re: Chase 5/24 reset and Chase business card question in Business Credit

Chase 5/24 reset and Chase business card question

folks19 — Tue, 07 Nov 2023 22:10:19 GMT

I'm falling to 3/24 from 5/24 on the 15th of this month. My question is when does that reset happen? Is it:

- the begining of this month (11/01/2023)

- the actual date of account opening (11/15/2023)

- next month (12/01/2023)

I want to apply for a chase business card but have no personal card with them yet (due to 5/24 ) so it doesn't count towards 5/24. What's my likelyhood of approval?

Re: Chase 5/24 reset and Chase business card question

SouthJamaica — Tue, 07 Nov 2023 22:17:00 GMT

@folks19 wrote:
I'm falling to 3/24 from 5/24 on the 15th of this month. My question is when does that reset happen? Is it:
- the begining of this month (11/01/2023)
- the actual date of account opening (11/15/2023)
- next month (12/01/2023)
I want to apply for a chase business card but have no personal card with them yet (due to 5/24 ) so it doesn't count towards 5/24. What's my likelyhood of approval?

I would wait until next month.

Re: Chase 5/24 reset and Chase business card question

GZG — Tue, 07 Nov 2023 22:31:35 GMT

@SouthJamaica wrote:
@folks19 wrote:
I'm falling to 3/24 from 5/24 on the 15th of this month. My question is when does that reset happen? Is it:
- the begining of this month (11/01/2023)
- the actual date of account opening (11/15/2023)
- next month (12/01/2023)
I want to apply for a chase business card but have no personal card with them yet (due to 5/24 ) so it doesn't count towards 5/24. What's my likelyhood of approval?
I would wait until next month.

it's technically on the exact day, but do above and wait for a month ^^

chase recon is an inquisition, no use risking yourself going through it if you don't have to

Re: Chase 5/24 reset and Chase business card question

ZackAttack — Tue, 07 Nov 2023 23:09:27 GMT

@GZG wrote:
@SouthJamaica wrote:
@folks19 wrote:
I'm falling to 3/24 from 5/24 on the 15th of this month. My question is when does that reset happen? Is it:
- the begining of this month (11/01/2023)
- the actual date of account opening (11/15/2023)
- next month (12/01/2023)
I want to apply for a chase business card but have no personal card with them yet (due to 5/24 ) so it doesn't count towards 5/24. What's my likelyhood of approval?
I would wait until next month.
it's technically on the exact day, but do above and wait for a month ^^

chase recon is an inquisition, no use risking yourself going through it if you don't have to

I don't think that is true. I remember someone did post on here where they did on the exact day, but when they went to challenge it, they don't factor days; but in months. So if the last card was the 5th applied in May 2021 ... then waiting until one month after May 2023 to apply.

Re: Chase 5/24 reset and Chase business card question

JoeRockhead — Tue, 07 Nov 2023 23:14:49 GMT

Agree that it's best to wait until the following month (12/1). Hard to tell the likelihood of an approval without more information such as what's your history look like, current Fico 8 scores, etc...

Re: Chase 5/24 reset and Chase business card question

Jordan23ww — Tue, 07 Nov 2023 23:37:44 GMT

I know that different people have had different experiences with this. I was told by some peers in the credit community to wait until the 1st day of the following month after dropping below 5/24 to apply for a Chase Card. That's what I did and I got approved. I think if you wanna err on the side of caution then it is worth waiting a few more weeks to the 1st day of the next month.

Re: Chase 5/24 reset and Chase business card question

folks19 — Thu, 09 Nov 2023 22:34:35 GMT

@JoeRockhead wrote:
Agree that it's best to wait until the following month (12/1). Hard to tell the likelihood of an approval without more information such as what's your history look like, current Fico 8 scores, etc...

@JoeRockhead Fico scores are in the 780s. Most recent account from almost year and a half ago. Between 2 - 4 HPs, depending on the agency but none from the past year (so no affect on score). 2.5 years AAoA. 4.5 years AoOA.

The main factor here is 5/24 and applying for a business card without a personal card.

Re: Chase 5/24 reset and Chase business card question

JoeRockhead — Thu, 09 Nov 2023 22:59:18 GMT

@folks19 wrote:
@JoeRockhead wrote:
Agree that it's best to wait until the following month (12/1). Hard to tell the likelihood of an approval without more information such as what's your history look like, current Fico 8 scores, etc...
@JoeRockhead Fico scores are in the 780s. Most recent account from almost year and a half ago. Between 2 - 4 HPs, depending on the agency but none from the past year (so no affect on score). 2.5 years AAoA. 4.5 years AoOA.
The main factor here is 5/24 and applying for a business card without a personal card.

@folks19 Worst thing you have going on is the young AAoA (and it's not anything that should cause a denial). Which may cause a lower SL but I'd be happy with any approval. Chase can be very generous with auto CLIs with good spend and PIF. Not having a personal card is a non factor.

Re: Chase 5/24 reset and Chase business card question

folks19 — Mon, 13 Nov 2023 22:04:41 GMT

I'm going to wait until December and apply, and I'll post the results.

Re: Chase 5/24 reset and Chase business card question

SouthJamaica — Tue, 14 Nov 2023 19:33:22 GMT

@folks19 wrote:
I'm going to wait until December and apply, and I'll post the results.

Good luck with your application.

A Chase Ink card is my one-card wish list, but my time has not come. Hopefully yours has.

Re: Chase 5/24 reset and Chase business card question

folks19 — Mon, 04 Dec 2023 14:53:45 GMT

Update: I applied for Ink Unlimited and got approved.

Re: Chase 5/24 reset and Chase business card question

JoeRockhead — Mon, 04 Dec 2023 15:03:41 GMT

@folks19 wrote:
Update: I applied for Ink Unlimited and got approved.

Very nice, congratulations on your approval @folks19!

Re: Chase 5/24 reset and Chase business card question

keekers — Mon, 04 Dec 2023 15:05:43 GMT

Congrats. Any additional info you wish to share (SL, etc)?

Re: Chase 5/24 reset and Chase business card question

SouthJamaica — Mon, 04 Dec 2023 15:34:27 GMT

@folks19 wrote:
Update: I applied for Ink Unlimited and got approved.

Congratulations Nice card.

Re: Chase 5/24 reset and Chase business card question

folks19 — Tue, 05 Dec 2023 19:18:38 GMT

@keekers wrote:
Congrats. Any additional info you wish to share (SL, etc)?

It was not an instant approval and they didn't tell me my limit. I wish I know

Re: Chase 5/24 reset and Chase business card question

keekers — Wed, 31 Jan 2024 17:25:34 GMT

@folks19 wrote:
@keekers wrote:
Congrats. Any additional info you wish to share (SL, etc)?
It was not an instant approval and they didn't tell me my limit. I wish I know

any update on the limit @folks19 ? How many hoops did you jump through since it wasn't an instant approval? I'm preparing to come out of the Garden on April 1st (I go under 5/24 on March 24th) and will apply for the Ink Cash card so our situations are somewhat similar.

Re: Chase 5/24 reset and Chase business card question

folks19 — Wed, 31 Jan 2024 22:34:50 GMT

@keekers wrote:
@folks19 wrote:
@keekers wrote:
Congrats. Any additional info you wish to share (SL, etc)?
It was not an instant approval and they didn't tell me my limit. I wish I know
any update on the limit @folks19 ? How many hoops did you jump through since it wasn't an instant approval? I'm preparing to come out of the Garden on April 1st (I go under 5/24 on March 24th) and will apply for the Ink Cash card so our situations are somewhat similar.

@keekers

Congratulations on your upcoming release from Chase jail!

I got a SL of 5k, which is much less than I was expecting. I was a little disappointed, but I still consider it a win since I accomplished what I was looking for - the $900 sign up bonus, which is amazing for a no AF card. And the CL isn't going to show on my CR anyway since it's a business card.

Re: Chase 5/24 reset and Chase business card question

keekers — Wed, 31 Jan 2024 22:58:42 GMT

Thanks for the update. I hear that Ink cards frequently start on the low end of the spectrum; I have a $10k purchase coming up and am hoping to use the intro 0% which is why I was interested in your SL.

Re: Chase 5/24 reset and Chase business card question

folks19 — Thu, 01 Feb 2024 15:57:45 GMT

@keekers wrote:
Thanks for the update. I hear that Ink cards frequently start on the low end of the spectrum; I have a $10k purchase coming up and am hoping to use the intro 0% which is why I was interested in your SL.

@keekers You also get to take advantage of the sign up bonus, which is at 750 now, which is very good for a no AF card. I hope you get the CL you need though.