topic Re: 5/24 rule in Credit Cards

5/24 rule

kevyx72 — Tue, 11 Jul 2017 17:16:54 GMT

Hi. I'm under 5/24 currently with exactly 5 cards under 24 months, but one of my credit card is gonna go off 5/24 next month. However I can't wait until next month to apply csp because I'll be going on an Asia trip for whole month and that's the also the reason why I'm interested in getting since I can take the $4000 spending easier. So I'm wondering if I apply now and if I get denied, does it have a chance to get around 5/24 if I talk to reconsideration line , my credit score are around 730s all 3. And I have 2 cards over 10k credit under chase (freedom unlimited :11,500, United explorer: 12,000) other worth mention chase cards: csp 8,500 ihg 4,000 Amazon 6,000 freedom 5,000

Re: 5/24 rule

noobody — Tue, 11 Jul 2017 17:19:20 GMT

Re: 5/24 rule

Anonymous — Tue, 11 Jul 2017 17:26:38 GMT

I’ve heard of some getting around the 5/24 by going in a branch and getting prequalified. Or even prequalifying online can help you squeeze by. But of course, this route may not work.

Re: 5/24 rule

Anonymous — Tue, 11 Jul 2017 19:09:32 GMT

It is a crap shoot I suppose. Yesterday was the first time I ever had prequalified cards show up on the Chase prequal site and I clicked the CSP button and was instantly approved at $5K. I have 700-715 FICO scores, no baddies or lates and AAOA of 36mos on my FICO 3B from June and some cards with decent limits that are over 24mos old. All of the Vantage based free sites have me at 10/24 but some of those turn 2yo this month and some are retail cards that turn 2yo next month. I would say it is worth a shot if one of yours is a retail card. I have calculated that I either got past the 5/24 somehow or they do not count retail cards as some have suggested on here in the past. There have been people on here that were approved for the CSP with 6/24 that I have read about unless they were confused. You seem to already have a few Chase cards, not to sure how that weighs in with them. It's probably good that your foot has been in the door but I do not know if they have limitaions on how many accounts you can have with them. Maye someone else will chime in on that topic.

Re: 5/24 rule

Anonymous — Tue, 11 Jul 2017 19:38:15 GMT

@kevyx72 wrote:
Hi. I'm under 5/24 currently with exactly 5 cards under 24 months, but one of my credit card is gonna go off 5/24 next month. However I can't wait until next month to apply csp because I'll be going on an Asia trip for whole month and that's the also the reason why I'm interested in getting since I can take the $4000 spending easier. So I'm wondering if I apply now and if I get denied, does it have a chance to get around 5/24 if I talk to reconsideration line , my credit score are around 730s all 3. And I have 2 cards over 10k credit under chase (freedom unlimited :11,500, United explorer: 12,000) other worth mention chase cards: csp 8,500 ihg 4,000 Amazon 6,000 freedom 5,000

An online application would result in denial. I'd suggesting hitting up your local branch and asking them to check for a pre-qualified offer on the CSP for you. If one comes up, you can bypass 5/24 by applying in-branch.

Re: 5/24 rule

kevyx72 — Tue, 11 Jul 2017 19:42:26 GMT

Thanks all for the replies. I'll head to local branch and try my luck tomorrow then

Re: 5/24 rule

kevyx72 — Tue, 11 Jul 2017 19:59:05 GMT

Oh correction I'm applying for cpr not preferred. There's was a typo in first post

Re: 5/24 rule

kevyx72 — Tue, 11 Jul 2017 19:59:50 GMT

Meant to say apply for cpr

Re: 5/24 rule

kevyx72 — Tue, 11 Jul 2017 20:00:27 GMT

Csr* sorry for confusion, autocorrect keeps kicking in

Re: 5/24 rule

bourgogne — Wed, 12 Jul 2017 06:34:32 GMT

@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in

you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens

Re: 5/24 rule

Anonymous — Wed, 12 Jul 2017 09:57:40 GMT

@bourgogne wrote:
@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in
you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens

If you apply in a branch and are denied for 5/24 your chances of being approved on recon are the same as online. None. So if they aren't doing CSR preapprovals in branch any longer there really isn't much point in wasting the HP.

Re: 5/24 rule

bourgogne — Wed, 12 Jul 2017 14:10:59 GMT

@Anonymous wrote:
@bourgogne wrote:
@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in
you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens
If you apply in a branch and are denied for 5/24 your chances of being approved on recon are the same as online. None. So if they aren't doing CSR preapprovals in branch any longer there really isn't much point in wasting the HP.

true but if the cards mentioned constitute the ops spread of 5/24 then the IHG does not count hence he is not 5/24 and if denied for another reason the csr can still be opened with the limit move.

Re: 5/24 rule

Anonymous — Wed, 12 Jul 2017 14:23:18 GMT

@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in
you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens
If you apply in a branch and are denied for 5/24 your chances of being approved on recon are the same as online. None. So if they aren't doing CSR preapprovals in branch any longer there really isn't much point in wasting the HP.
true but if the cards mentioned constitute the ops spread of 5/24 then the IHG does not count hence he is not 5/24 and if denied for another reason the csr can still be opened with the limit move.

Huh? Why don't you think the IHG card counts? It does. I think you may be confusing cards like the IHG that you can apply for where the 5/24 doesn't apply versus cards that you have that count towards 5/24. Any card that you have had for less than 2 years counts unless it's a non Chase business card that doesn't report to your personal credit reports.

Re: 5/24 rule

bourgogne — Wed, 12 Jul 2017 14:35:39 GMT

@Anonymous wrote:
@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in
you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens
If you apply in a branch and are denied for 5/24 your chances of being approved on recon are the same as online. None. So if they aren't doing CSR preapprovals in branch any longer there really isn't much point in wasting the HP.
true but if the cards mentioned constitute the ops spread of 5/24 then the IHG does not count hence he is not 5/24 and if denied for another reason the csr can still be opened with the limit move.
Huh? Why don't you think the IHG card counts? It does

do you agree that one can get a IHG if one is 5/24 but once you have it it counts?

I have my 105k wonder looking right at me to prove one can get a IHG if >5/24 + it's not set in stone as some believe it is imo. nothing matters more than the chase risk score when getting a card with chase imo. I pretty much only use chase cards, my 4 main ones; csr, ink, f, fu were all in-branched >5/24. Thinking about it his amazon does not count as well at least to app for

Re: 5/24 rule

Anonymous — Wed, 12 Jul 2017 14:56:29 GMT

@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in
you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens
If you apply in a branch and are denied for 5/24 your chances of being approved on recon are the same as online. None. So if they aren't doing CSR preapprovals in branch any longer there really isn't much point in wasting the HP.
true but if the cards mentioned constitute the ops spread of 5/24 then the IHG does not count hence he is not 5/24 and if denied for another reason the csr can still be opened with the limit move.
Huh? Why don't you think the IHG card counts? It does
do you agree that one can get a IHG if one is 5/24 but once you have it it counts? - Yes

I have my 105k wonder looking right at me to prove one can get a IHG if >5/24 + it's not set in stone as some believe it is imo. nothing matters more than the chase risk score when getting a card with chase imo. I pretty much only use chase cards, my 4 main ones; csr, ink, f, fu were all in-branched >5/24. Thinking about it his amazon does not count as well at least to app for

Ok but I'm not sure what that has to with the OP's question. He is at 5/24 as the IHG card does count and if he applies without some form of preapproval for the CSR then he will be denied and recon won't help one bit. It doesn't matter what your internal Chase score is in this regard. There are quite a few Chase cards that you can apply for if you are over 5/24 but the CSR is not one of them. The only way around that is if you're preapproved in branch or online and neither of those are happening right now with the CSR. In the past they were giving out in branch preapprovals for the CSR but no longer.

Re: 5/24 rule

bourgogne — Wed, 12 Jul 2017 15:24:53 GMT

@Anonymous wrote:
@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
@kevyx72 wrote:
Csr* sorry for confusion, autocorrect keeps kicking in
you want a csr and you have a csp, yes? in branch you will not see an offer for either I would think but I would app there anyway vs online and if denied do the recon on the spot and have them move the limit out of the csp to open the csr. chase is very good about this. then downgrade the csp to a non af version and pc it to freedom of your chosing. you are totally in bed with chase and your scores look good. do you know what your last chase risk score was? if north of 710 I see no issue. good luck, post what happens
If you apply in a branch and are denied for 5/24 your chances of being approved on recon are the same as online. None. So if they aren't doing CSR preapprovals in branch any longer there really isn't much point in wasting the HP.
true but if the cards mentioned constitute the ops spread of 5/24 then the IHG does not count hence he is not 5/24 and if denied for another reason the csr can still be opened with the limit move.
Huh? Why don't you think the IHG card counts? It does
do you agree that one can get a IHG if one is 5/24 but once you have it it counts? - Yes

I have my 105k wonder looking right at me to prove one can get a IHG if >5/24 + it's not set in stone as some believe it is imo. nothing matters more than the chase risk score when getting a card with chase imo. I pretty much only use chase cards, my 4 main ones; csr, ink, f, fu were all in-branched >5/24. Thinking about it his amazon does not count as well at least to app for
Ok but I'm not sure what that has to with the OP's question. He is at 5/24 as the IHG card does count and if he applies without some form of preapproval for the CSR then he will be denied and recon won't help one bit. It doesn't matter what your internal Chase score is in this regard. There are quite a few Chase cards that you can apply for if you are over 5/24 but the CSR is not one of them. The only way around that is if you're preapproved in branch or online and neither of those are happening right now with the CSR. In the past they were giving out in branch preapprovals for the CSR but no longer.

directly it has nothing to do with his question. indirectly I think it does. again I don't believe 5/24 is a 100% rule and I think the risk score is very important factor as a way around it. I am proof as I am over 5/24 and just got a IHG. there are also posts on reddit to support my claims that 5/24 is not the last word in getting a chase product. I totally understand, esp as a mod you only want correct info flowing outward from this forum. I really do. some of this comes down to how bad one wants a card. I wanted to stay at the mark hopkins sf for n/c for 3 nights next year and rolled the dice to get a card to do it. HPs mean nothing to me, I just closed on a $1.9m rental duplex and and the lender did not seem to care as well. comes down to what one believes and what one wants to risk. big picture its a only a card. if the op is by the book and conservative he will take you position and stand down. if not then we will both read about the result

Re: 5/24 rule

Anonymous — Wed, 12 Jul 2017 19:10:09 GMT

@bourgogne wrote:
directly it has nothing to do with his question. indirectly I think it does. again I don't believe 5/24 is a 100% rule and I think the risk score is very important factor as a way around it. I am proof as I am over 5/24 and just got a IHG. there are also posts on reddit to support my claims that 5/24 is not the last word in getting a chase product. I totally understand, esp as a mod you only want correct info flowing outward from this forum. I really do. some of this comes down to how bad one wants a card. I wanted to stay at the mark hopkins sf for n/c for 3 nights next year and rolled the dice to get a card to do it. HPs mean nothing to me, I just closed on a $1.9m rental duplex and and the lender did not seem to care as well. comes down to what one believes and what one wants to risk. big picture its a only a card. if the op is by the book and conservative he will take you position and stand down. if not then we will both read about the result

No, Irish is correct. You proving that you got the IHG card while over 5/24 is completely irrelevant. IHG is not a 5/24 card. However, having the card adds to your number of new accounts in the past 24 months. Regardless of if a card takes into consideration your 5/24 standing when applying for it, it still counts towards 5/24 when applying for a card that does take 5/24 into consideration.

The way you're explaining it, only 5/24 cards (ex. CSP, CSR, Freedom, FU, etc) count towards 5/24. That is not the case, they are just the only cards that consider 5/24 when applying for them. Every new account gets added to your 5/24 standing.

Saying things like "some of this comes down to how bad one wants a card" and "comes down to what one believes and what one wants to risk" is just incorrect. This isn't a religion, wherein one's beliefs bare any relevance. Just because you really want a CSR and do not believe in 5/24 does not mean Chase will suddenly say, "Ok, I see you really want the card and don't think 5/24 exists, you're approved!" 5/24 is a well known underwriting standard at Chase for their flagship cards. The applicant's desire for the card plays no part in that simple math.

As a side note, adding in "HPs mean nothing to me, I just closed on a $1.9m rental duplex" isn't really impressing anyone. We're here to help OP with his understanding of 5/24, not inflate egos or spread misinformation.

Re: 5/24 rule

bourgogne — Wed, 12 Jul 2017 19:16:33 GMT

@Anonymous wrote:
@bourgogne wrote:
directly it has nothing to do with his question. indirectly I think it does. again I don't believe 5/24 is a 100% rule and I think the risk score is very important factor as a way around it. I am proof as I am over 5/24 and just got a IHG. there are also posts on reddit to support my claims that 5/24 is not the last word in getting a chase product. I totally understand, esp as a mod you only want correct info flowing outward from this forum. I really do. some of this comes down to how bad one wants a card. I wanted to stay at the mark hopkins sf for n/c for 3 nights next year and rolled the dice to get a card to do it. HPs mean nothing to me, I just closed on a $1.9m rental duplex and and the lender did not seem to care as well. comes down to what one believes and what one wants to risk. big picture its a only a card. if the op is by the book and conservative he will take you position and stand down. if not then we will both read about the result

No, Irish is correct. You proving that you got the IHG card while over 5/24 is completely irrelevant. IHG is not a 5/24 card. However, having the card adds to your number of new accounts in the past 24 months. Regardless of if a card takes into consideration your 5/24 standing when applying for it, it still counts towards 5/24 when applying for a card that does take 5/24 into consideration.

The way you're explaining it, only 5/24 cards (ex. CSP, CSR, Freedom, FU, etc) count towards 5/24. That is not the case, they are just the only cards that consider 5/24 when applying for them. Every new account gets added to your 5/24 standing.

Saying things like "some of this comes down to how bad one wants a card" and "comes down to what one believes and what one wants to risk" is just incorrect. This isn't a religion where what one's beliefs bare any relevance. Just because you really want a CSP and do not believe in 5/24 does not mean Chase will suddenly say, "Ok, I see you really want the card and don't think 5/24 exists, you're approved!" 5/24 is a well known underwriting standard at Chase for their flagship cards. The applicant's desire for the card plays no part in that simple math.

As a side note, adding in "HPs mean nothing to me, I just closed on a $1.9m rental duplex" isn't really impressing anyone. We're here to help OP with his understanding of 5/24, not inflate egos or spread misinformation.

I have been over 5/24 for all my chase cards. my point is that 5/24 is a rule that may or may not apply to someone. that is a fact based on my experience and friends that also use chase products. the idea of taking an hp for anything is overblown on this forum imo. individuals should not be scared into thinking something is not possible when anything is possible

Re: 5/24 rule

Anonymous — Wed, 12 Jul 2017 19:24:11 GMT

@bourgogne wrote:
@Anonymous wrote:
@bourgogne wrote:
directly it has nothing to do with his question. indirectly I think it does. again I don't believe 5/24 is a 100% rule and I think the risk score is very important factor as a way around it. I am proof as I am over 5/24 and just got a IHG. there are also posts on reddit to support my claims that 5/24 is not the last word in getting a chase product. I totally understand, esp as a mod you only want correct info flowing outward from this forum. I really do. some of this comes down to how bad one wants a card. I wanted to stay at the mark hopkins sf for n/c for 3 nights next year and rolled the dice to get a card to do it. HPs mean nothing to me, I just closed on a $1.9m rental duplex and and the lender did not seem to care as well. comes down to what one believes and what one wants to risk. big picture its a only a card. if the op is by the book and conservative he will take you position and stand down. if not then we will both read about the result

No, Irish is correct. You proving that you got the IHG card while over 5/24 is completely irrelevant. IHG is not a 5/24 card. However, having the card adds to your number of new accounts in the past 24 months. Regardless of if a card takes into consideration your 5/24 standing when applying for it, it still counts towards 5/24 when applying for a card that does take 5/24 into consideration.

The way you're explaining it, only 5/24 cards (ex. CSP, CSR, Freedom, FU, etc) count towards 5/24. That is not the case, they are just the only cards that consider 5/24 when applying for them. Every new account gets added to your 5/24 standing.

Saying things like "some of this comes down to how bad one wants a card" and "comes down to what one believes and what one wants to risk" is just incorrect. This isn't a religion where what one's beliefs bare any relevance. Just because you really want a CSP and do not believe in 5/24 does not mean Chase will suddenly say, "Ok, I see you really want the card and don't think 5/24 exists, you're approved!" 5/24 is a well known underwriting standard at Chase for their flagship cards. The applicant's desire for the card plays no part in that simple math.

As a side note, adding in "HPs mean nothing to me, I just closed on a $1.9m rental duplex" isn't really impressing anyone. We're here to help OP with his understanding of 5/24, not inflate egos or spread misinformation.

I have been over 5/24 for all my chase cards. my point is that 5/24 is a rule that may or may not apply to someone. that is a fact based on my experience and friends that also use chase products. the idea of taking an hp for anything is overblown on this forum imo. individuals should not be scared into thinking something is not possible when anything is possible

When you say "all my chase cards", specifically what cards do you mean? IHG does not count. If its a CSP, CSR, Freedom, etc then I'm assuming you applied in branch or over the phone? If that's the case, you were pre-qualified. We're specifically talking about online applications. Applying in branch/over phone via pre-quals is a completely different story.

Also, are you a Chase Private Client? That can bypass 5/24 and almost certainly does not apply to OP's problem.

Advising OP to go for it because "anything is possible" while he is over 5/24 without prequalifications is just horrible advice. It's like saying to jump off a bridge to see if you can fly, "anything is possible."

Re: 5/24 rule

Anonymous — Wed, 12 Jul 2017 19:29:44 GMT

So, I just did a cursory search of your recent posts bourgogne, and you mention being both a Chase and JPM private client. Additionally, you did your CSP app over the phone with a Chase rep.

Thus, your personal experience is irrelevant to 99% of applicants and OP. Advising him to "go for it" because it worked for you is misleading, when you failed to mention you are a Chase Private Client which is a well known bypass to 5/24.