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Chase Ink 5/24

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mccallb
Frequent Contributor

Chase Ink 5/24

I've heard of the 5/24 rule with Chase.  Is that a pretty hard and fast rule with them?

 

I recently applied for the Chase Ink card for my business (I used EIN and my personal SSN of course) but my company has no credit yet. This is the first BUS card.

 

I've definitely got 5 accounts in the last 2 years, but only one with chase (CSP @ 16k)  I got the 30 day message which I know isn't an immediate denial, but I was curious if the 5/24 applies to bus cards, or if its even a hard and fast rule or just ane excuse to deny people.

(Thinkin about getting a slate in September)


Thanks!



CK EQ: 730 / CK TU: 735 / EXP FICO: 721 / EX Vantage: 793 / Total Exposure: 112K
15 REPLIES 15
Anonymous
Not applicable

Re: Chase Ink 5/24

As most of the threads people post here asking that same question seem to state, business cards are not in that 5/24 rule yet. Good luck!
Message 2 of 16
mccallb
Frequent Contributor

Re: Chase Ink 5/24

awesome! thanks 



CK EQ: 730 / CK TU: 735 / EXP FICO: 721 / EX Vantage: 793 / Total Exposure: 112K
Message 3 of 16
takeshi74
Senior Contributor

Re: Chase Ink 5/24

+1 Currently not subject to 5/24.  "X Days" never tells you anything about outcome.  Outcome depends on what needs to be done, what is found, etc.  All of my Chase biz cards resulted in "X Days" prior to approval.  Current app also ran into the "X Days" message.  It's quite common.  However, don't assume outcome with any creditor/product based on an "X Days" message.

Message 4 of 16
driftless
Valued Contributor

Re: Chase Ink 5/24

I was talking to a Chase banker two days ago and we talked about the Ink card, the 5/24 rule does not currently apply.
CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
Message 5 of 16
mccallb
Frequent Contributor

Re: Chase Ink 5/24

Any concept of scoring model/midscore/what they look for in terms of FICOS?


Depending on who you ask and what model i'm 706-776.  Exp FICO says 721, CK says 750+ for eq and TU, just had a LOC applied for for my company, and they pulled like a 706 using their model.  About 12% util



CK EQ: 730 / CK TU: 735 / EXP FICO: 721 / EX Vantage: 793 / Total Exposure: 112K
Message 6 of 16
driftless
Valued Contributor

Re: Chase Ink 5/24


@mccallb wrote:

Any concept of scoring model/midscore/what they look for in terms of FICOS?


Depending on who you ask and what model i'm 706-776.  Exp FICO says 721, CK says 750+ for eq and TU, just had a LOC applied for for my company, and they pulled like a 706 using their model.  About 12% util


No, I was planning on applying after our mortgage has reported ~ 3 - 4 times.
CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
Message 7 of 16
Creditplz
Valued Contributor

Re: Chase Ink 5/24

I applied for this the same day as the SW card I was approved on, received 15k on SW, message has been saying 7-10 for 2 weeks now Smiley Sad EX Fico 8 - 731
Message 8 of 16
plastic_man
Regular Contributor

Re: Chase Ink 5/24

Be patient . It took me almost a month to get approved for the ink card.i wouldn't call them if I were you, wait for them to send a letter. The 5/24 rule does not apply to business cards. Good luck!
MyFICO Scores : EQ = 791 , TU = 794, EX = 774 as of 06/16
Current CARDS : Boa working assets $33k| | QuickSilver $6650 | BillMeLater $5000 | FNBO AMEX $20K | ChoiceHotel BarclayCard $7500K |barclay ring card $15k| Macys AMEX $20k| AMEX Gold Premier | AMEX Blue Cash $13.2k | | Chase Marriott $20k | CSP $14,200| CAP1 Spark Miles $28k | AMEX Business Gold Premier| citi Hilton hhonors $12k| citi AAdvantage $10,500 | Chase Ink Plus $27k | BoA Alaska signature personal $17k | BoA Alaska business $27k | AMEX SPG $11,800 | JPM Ritz Carlton $29.9k
Message 9 of 16
mccallb
Frequent Contributor

Re: Chase Ink 5/24

Just out of curiousity why do you recommend against calling?



CK EQ: 730 / CK TU: 735 / EXP FICO: 721 / EX Vantage: 793 / Total Exposure: 112K
Message 10 of 16
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