topic Re: CSR 5/24 Recon in Credit Cards

CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 15:14:16 GMT

Good morning!

I've lurked a longtime on this board and finally have an exeperience worth talking about. I've been tracking my open cards hoping to get the CSR right before the bonus nerf. After some research, it seemed likely that I just dropped under 5/24 at the start of this month so I went to a Chase branch to apply. I received the dreaded 7-10 days message from the banker. I immediately called the recon line and was denied because of too many new cards in the last 2 years. The rep, who wasn't the most friendly person, said I had 6 in 2 years which caught me completely off guard. We walked through my credit report and she said even if she removed the last 1 or 2 (reluctantly) it was still too much. Here are the dates of the most recent cards opened:

3/21/16

3/15/16

3/5/16

3/16/15

2/27/15

1/08/15

The rep admitted she was counting the january 2015 card and said she could remove it. She didn't seem too keen on counting the February card as over 2 years and said I still would be declined. Does anyone think I have a case here? I probably wasn't the most prepared when I called and that is on me. If I call back and walk them through the report would it work? Maybe if I wait 30 days (which would be April) the age of the cards might change? Thanks!

Re: CSR 5/24 Recon

George528 — Tue, 07 Mar 2017 15:13:34 GMT

I would definitely call back if you are pretty sure that is their only reason for a denial. It seems like an obvious thing to explain and overcome.

Re: CSR 5/24 Recon

kdm31091 — Tue, 07 Mar 2017 15:14:02 GMT

Unfortunately, 5/24 is very hard to recon. The reps have very limited ability (and/or desire) to overturn it.

Counting the 2/27 card you are pretty much at exactly 5/24. Although 2/27 was now just over 2 years ago, we're talking about a few days of difference, and it could be they don't officially consider it past 2 years yet.

The HP for the app is typically reusable for 30 days (ie if you recon within the next 30 days, no new HP) so you could wait a couple weeks and then try to recon again.

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 15:25:47 GMT

I'd say don't bother unless in branch and can have your banker advocate for you.

Re: CSR 5/24 Recon

Mattopotamus — Tue, 07 Mar 2017 15:26:28 GMT

Like the above poster said, they are pretty hard on the 5/24 rule. I was less than 30 days away from my 5th falling off and they still told me I would have to apply again.

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 15:48:59 GMT

Wait until the 17th and call back. You will be well under the 5/24 rule. If CSR doesn't budge ask for the manager and make your case.

I had a similar experience with the CSR and AUs. Literally, worst Recon experience of my life. After seemingly endless actions and calls I was finally able to get a rep and mgr who agreed to approving the app. Though, it still had to go for a secondary or additional review. Finally got approved about 5 days after my last recon call. They did not repull my reports.

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 15:56:15 GMT

Please go to the same banker and explain your situations again.. If not, as others have suggested please ask for Manager and explain your situation and let them do the talking with underwriter..

I was approved in branch for CSR yesterday and I still sit at 6/24. You can read more in this thread

http://ficoforums.myfico.com/t5/Credit-Card-Applications/CSR-should-I-apply/td-p/4869105

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 16:39:27 GMT

It looks like from that thread, Chase pulled EX which lists the date so Chase is still considering my card from February 27, 2015 as still 2 years. I guess I'll wait until the end of the month to Recon when that should no longer be the case.

Re: CSR 5/24 Recon

AllCredit — Tue, 07 Mar 2017 16:45:05 GMT

Seems like people are having better luck in branch if they are over 5/24. Are you close to a branch?

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 16:45:42 GMT

@AllCredit wrote:
Seems like people are having better luck in branch if they are over 5/24. Are you close to a branch?

I applied in branch.

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 16:49:08 GMT

@Anonymous wrote:
It looks like from that thread, Chase pulled EX which lists the date so Chase is still considering my card from February 27, 2015 as still 2 years. I guess I'll wait until the end of the month to Recon when that should no longer be the case.

I think no matter whether they pulled EX or EQ account from Feb 27, 2015 should not fall under 5/24 rule.. for my case what I am guessing is they consider my AMEX date as Mar 1, 2015 (instead of actual date Mar 24, 2015) and excluded my Macys card (opened 06/12/2015) from 5/24 rule..

Another thing, did you ask your banker for any preapprovals before submitting the application for CSR? I know CSR no longer comes in pre approvals, but if you were pre approved for other cards, then it increases the chances of getting CSR approved as well.. this is what I observe and what bankers in two different nearby branches told me.. I was pre approved for all the cards (except CSR) when I asked the banker.. my guess is although CSR does not come in pre approvals but if you profile supports then you may be able to bypass 5/24 in branch, but that's just a guess

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 17:14:12 GMT

I did not check pre-approvals. I'm sensing I probably didn't do this in a way to have the best odds for approval.

Re: CSR 5/24 Recon

Anonymous — Tue, 07 Mar 2017 18:02:37 GMT

@Anonymous wrote:
I did not check pre-approvals. I'm sensing I probably didn't do this in a way to have the best odds for approval.

Don't give up

Sit with the banker and if required with Manager and explain your situation.. Tell them that you are aware, "too many accounts" are 5/24 and in your case its under 5 in last 24 months.. and request them to explain same thing to underwriter.. if the only reason they deny you was "too many accounts" and you know there are no other accounts you mentioned in the initial post then I think this can be reconsidered..

All the best