@randomguy1 wrote:
@Anonymous wrote:
Hello Everyone,
I have an inquiry, but I have no experience or wisdom regarding Chase business cards to know if this is likely.
I've read over the years about Chase's 5/24 rule. If I understand correctly, most business cards usually don't count towards this simply because they don't appear on your personal credit report when it is pulled and the accounts are tallied. I've also read that business cards that do appear on your personal credit report such as Capital One is counted towards 5/24.
Since Chase is concerned with the total number of new accounts (for some profiles), isn't it possible that by using the information available to them, meaning their own internal systems, they they did count the new business card when calculating 5/24? Again, I don't know either way but I'd love to hear what you think. I plan to apply for an Ink card later this year or next and have always found the myFICO community to be very helpful.
Thank you.
I have applied to two consecutive business cards while being at 5/24 in a few month time period. So in my experience and from what I have read, no they do not include their own business cards at 5/24. Velocity maybe, 5/24? No.
Actually there are DPs on Reddit and FT where this may happen, but it's rare. It depends on where the application lands during manual review. These cases are rare, though, but I would suggest that it's YEMV. And, while your 2 scenarios played out ok, there is no set-in stone policy @randomguy1, so nothing is absolute. An UW can easily dig deeper. Just like any senior UW can override Chase BK policy (in rare situations) where in most cases it's an automatic decline. A variety of reported DPs exist.
I personally have been fine with biz applications bypassing 5/24, and I'm sure it went through it's own review (I never called), but it was due through an offer online (black stars)
