topic Re: Is there an internal limit on cards for Chase within 5/24? in Credit Cards

Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 16:05:37 GMT

Hi,

So I've seen people get shut down with Chase for "too many new accounts" despite being under 5/24.

Example: Person opens Freedom and CSP one week then a week or even a month later they open another Chase card. Then shortly after all are closed by Chase. I've read a few threads about this.

I'm just wondering what a good spacing would be between opening accounts with them?

Here's my breakdown:

Freedom opened 07/14 - Not concerned about this one too much because it's oldest
Slate/FU opened 02/16 - PC'd to FU this one is under 2 years old so maybe
Ink Cash opened 02/17 - New Account concerned

Strongly considering applying for either Ink Preffered or CSP by mid summer. Currently at 4/24 with the Ink Cash opened even though it's not reporting I'm assuming it counts.

Since I'm at 3 Chase accounts already and 2 of them are fairly recent I don't want them to deny me or shut me down for that. Thoughts?

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 17:36:29 GMT

I think Chase will deny new apps if you're either 5/24 or more than 2 apps within 30 days. Otherwise I've seen people with literally almost every Chase card available! lol

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 17:48:37 GMT

@Anonymous wrote:

Example: Person opens Freedom and CSP one week then a week or even a month later they open another Chase card. Then shortly after all are closed by Chase. I've read a few threads about this.

Well, there are equal examples of people opening multiple Chase accounts at the same time and being OK. I opened a CSP and Amazon both today... so I would hope that I don't see AA as a result. I actually asked after opening the CSP first if I opened an Amazon a little later today if it would have any impact at all on the CSP and was told that it would not by two different CS people (one in person, one on the phone). I'm sure those that have opened a lot of other accounts in relative close proximity would be under more of a watchful eye in this case, but who knows.

Re: Is there an internal limit on cards for Chase within 5/24?

CreditInspired — Tue, 02 May 2017 18:11:15 GMT

I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 18:27:52 GMT

Yes it's with other banks too. Although if you have a green check mark offer from Chase then they will bypass 5/24 and give you the card.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 18:30:13 GMT

Chase has an internal "credit" limit per customer, but I do not believe that they have a maximum number of products. I'm at 6 personal Chase cards. My wife is at 5 personal chase cards... However, when she applied for her last Chase card (despite being under 5/24) they had to reallocate some credit b/c several of her credit lines are very high. She still got the card though.

My understanding of 5/24 isn't about credit risk. It's about incrasing proftiability of their products to reduce the number of "churners" who get them or only open the card for the bonus/benefits without usign the card. They are looking for quality and proftiable cardmembers.

Yes, 5/24 includes all personal accounts reported to CRs regardless of issuing bank. The scoring system also automatically includes AU accounts; however, the recon line can exempt the AU accounts under certain circumstances (e.g., never used the card and didn't know you had the AU account). 5/24 usually excludes other bank business cards not reported on your personal CRs. However, I do believe that it includes Chase business products.

Re: Is there an internal limit on cards for Chase within 5/24?

simplynoir — Tue, 02 May 2017 18:34:02 GMT

@CreditInspired wrote:
I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.

This is what I've read as well. In fact supposedly this includes business cards too along with store/co-branded cards. So, those wanting in with Chase better be pretty clean new accounts wise. But if anyone could confirm this that would be nice.

Edit: I guess it is. Nice to know though that customers already in seemed to be exempt from this rule.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 18:53:14 GMT

Ah - I posted mainly because I've seen AA for opening too many Chase accounts close together. It's completely different to space them out by years, then it's easy to get multiple.

My concern is them saying 3 within 24 months with them is too many, I hope not but just don't want to waste a HP.

Also, what do you think looks better Ink Preffered or CSP?

We really need the Ink Preffered for our business we app'd for the Ink cash thinking it waived FTF's but it doesn't so it's pretty useless for us because we put 90% or more of our business spending on overseas purchasing. I hope they would give me the opportunity to reallocate to be able open it.

When your wife had to reallocate was the app denied and you reallocated on recon or how did that come about?

Trying to figure everything out.

Re: Is there an internal limit on cards for Chase within 5/24?

CreditInspired — Tue, 02 May 2017 18:56:33 GMT

Yep, thejoshuatree, that's how I was able to bypass 5/24 by having the green checkmarks 😁

Re: Is there an internal limit on cards for Chase within 5/24?

HeavenOhio — Tue, 02 May 2017 19:02:49 GMT

It seems to me that I've read reports here of "surprise" reallocations, i.e. an approval along with an automatic reshuffling of limits. But it wasn't a big issue because people could call in and reshuffle again. I think if I smelled that possibility, I'd make sure that my balances were low enough to handle a CLD. Or I'd be prepared to make a payment or two to accommocate it.

I think we've also see reports of reallocations during recon.

Is it possible to PC the Ink Cash to the Ink Preferred?

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 19:31:40 GMT

@CreditInspired wrote:
I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.

It also depends on if the Chase account being opened is subject to the 5/24 rule. Many of the co-branded cards like the Chase Amazon for example are not subject to 5/24. People have been 30/24 and still approved for some of those Chase cards.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 20:11:06 GMT

Heaven - That's good!

Freedom has $0/$1500
FU has $0/$1500
Ink Cash has $3,500/$12,000

We definitely wouldn't mind moving 5k over from the Ink Cash if needed. I would hope they'd do it automatically or call to ask rather than deny and hope to do it on recon.

We don't want to PC we definitely want the 80k bonus that's something that we would really like but after the bonus we will definitely be keeping that card for a few years though.

Also personal scores have improved a lot since applying for the Ink Cash too.

Re: Is there an internal limit on cards for Chase within 5/24?

CreditInspired — Tue, 02 May 2017 20:35:01 GMT

@Anonymous wrote:
@CreditInspired wrote:
I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.
It also depends on if the Chase account being opened is subject to the 5/24 rule. Many of the co-branded cards like the Chase Amazon for example are not subject to 5/24. People have been 30/24 and still approved for some of those Chase cards.

Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Tue, 02 May 2017 23:30:39 GMT

@CreditInspired wrote:
Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

For sure. I just learned about this myself a few months ago on this forum. Today I apped for both the CSP and Chase Amazon. I was at 4/24 at the start of the day so I apped for the CSP first, which brought me to 5/24 then apped for the Amazon second since it's not part of the rule. Had I apped the other way around, it's possible that Chase would have denied my CSP app because internally they would know that I was at 5/24 with the addition of the Amazon account, even though it is still weeks or a month away from reporting.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Wed, 03 May 2017 08:11:45 GMT

@Anonymous wrote:
@CreditInspired wrote:
Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.
For sure. I just learned about this myself a few months ago on this forum. Today I apped for both the CSP and Chase Amazon. I was at 4/24 at the start of the day so I apped for the CSP first, which brought me to 5/24 then apped for the Amazon second since it's not part of the rule. Had I apped the other way around, it's possible that Chase would have denied my CSP app because internally they would know that I was at 5/24 with the addition of the Amazon account, even though it is still weeks or a month away from reporting.

I think that is the correct strategy (csp first) but their automated system is not that well 'connected' and many did get 2 '5/24 controlled' cards on a single day while at 4/24 so it will not automatically deny you due to 5/24 alone.

The actual risk appears to be getting denied for the 2nd card due to some other reasons and having to get a human on the phone to recon, said human might look at things closely and then shut your recon request down for 'too many accounts'.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Wed, 03 May 2017 08:27:27 GMT

@Anonymous wrote:
Heaven - That's good!

Freedom has $0/$1500
FU has $0/$1500
Ink Cash has $3,500/$12,000

We definitely wouldn't mind moving 5k over from the Ink Cash if needed. I would hope they'd do it automatically or call to ask rather than deny and hope to do it on recon.

We don't want to PC we definitely want the 80k bonus that's something that we would really like but after the bonus we will definitely be keeping that card for a few years though.

Also personal scores have improved a lot since applying for the Ink Cash too.

Though it should be obvious to anyone looking at recent DPs that Chase is tightening down, I'd still hazard a guess that there're (likely quite a bit) more to those 'All accounts closed simply for being at 3/24' stories.

Not sure how isolated is the business from you (EIN? different address or not even under your name? etc) or how much does the business depend on Chase (i.e. perhaps losing future possibility to deal with Chase doesn't matter at all to the business?), so you need to decide for yourself on the INK card.

But either ways, if it's me I'd make it very clear to myself that 'needing a card without FTF for business spending on overseas purchasing' is different from 'would really like 80K UR points'.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Wed, 03 May 2017 17:12:19 GMT

For business they asked for EIN, SSN, phone, address.

Okay let me clarify, we already have a Travel card which has no FTF's however we feel that the benefits of the INK Preffered would be more beneficial for us, and that 80k UR would be very beneficial for our company.

$800 in products we buy we sell for probably $2,000.

So that $800 turns into $2,000 and an extra $2,000 is great.

I definitely would not want to forego any sign up bonus by PC'ing. I would rather wait until eligible because I could really use an extra $800 to $2,000.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Wed, 03 May 2017 18:39:36 GMT

@CreditInspired wrote:
@Anonymous wrote:
@CreditInspired wrote:
I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.
It also depends on if the Chase account being opened is subject to the 5/24 rule. Many of the co-branded cards like the Chase Amazon for example are not subject to 5/24. People have been 30/24 and still approved for some of those Chase cards.
Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

I think you might be confused here. Chase cobranded cards do count in the 5 just as any revolving credit line does. What BBS is trying to convey is that some of the Chase cobranded cards are not subject to the 5/24 rule which means that you can apply for those cards and not automatically be denied because of the 5/24 rule. Just making sure you are aware of the difference.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Thu, 04 May 2017 00:27:46 GMT

That is correct. An account opened in the last 2 years is an account opened in the last 2 years. Chase doesn't care what type of account it is.

As Irish just said, there are cards in the Chase lineup (many of the co-branded ones, for example) that one can obtain if they are already at or above 5/24.

Re: Is there an internal limit on cards for Chase within 5/24?

Anonymous — Thu, 04 May 2017 10:31:56 GMT

@Anonymous wrote:
@Anonymous wrote:

Example: Person opens Freedom and CSP one week then a week or even a month later they open another Chase card. Then shortly after all are closed by Chase. I've read a few threads about this.

Well, there are equal examples of people opening multiple Chase accounts at the same time and being OK. I opened a CSP and Amazon both today... so I would hope that I don't see AA as a result. I actually asked after opening the CSP first if I opened an Amazon a little later today if it would have any impact at all on the CSP and was told that it would not by two different CS people (one in person, one on the phone). I'm sure those that have opened a lot of other accounts in relative close proximity would be under more of a watchful eye in this case, but who knows.

Did you make it out with a single HP?