topic Re: 5/24 and Personal Loans in General Credit Topics

5/24 and Personal Loans

Wavester64 — Thu, 10 Dec 2020 05:04:35 GMT

I see mixed data points on this and that go either way so I figured I'd ask again here. Do personal loans count towards your 5/24?

So if prior to a personal loan I am say 7/24 and then I apply and am approved for a personal loan, am I now 8/24 or am I still 7/24 in the eyes of a lender for a potential new credit card?

Re: 5/24 and Personal Loans

Anonymous — Thu, 10 Dec 2020 05:07:31 GMT

For chase, PLs don't count

Any revolving accounts will, though, like PLOCs, charge cards, store cards

Re: 5/24 and Personal Loans

AllZero — Thu, 10 Dec 2020 05:08:36 GMT

It is my understanding that it applies to revolving lines of credit for Chase's 5/24.

Re: 5/24 and Personal Loans

Remedios — Thu, 10 Dec 2020 16:11:42 GMT

I have never seen mixed data points on loans and 5/24.

Re: 5/24 and Personal Loans

Wavester64 — Thu, 10 Dec 2020 16:23:30 GMT

This thread made it a little confusing as it went both ways on yes it does count, and no it does not count.

@Remedios wrote:
I have never seen mixed data points on loans and 5/24.

Re: 5/24 and Personal Loans

Remedios — Thu, 10 Dec 2020 16:57:07 GMT

Installment loans aren't counted towards 5/24