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Does a biz card count toward 5/ 24 rule?

FishingGuy
Regular Contributor

Does a biz card count toward 5/ 24 rule?

Does applying & or getting approved for an Amex business card... count in the Chase 5 / 24 rule?   

 

I'll be 4 / 24 next month, with one more dropping off  4 months later.  I was wondering... if I apply for an Amex business card will that count and put me back to 5 / 24?           I was wondering if that may cause a Chase decline.... any info is greatly appreciated.

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4 REPLIES 4
simplynoir
Community Leader
Super Contributor

Re: Does a biz card count toward 5/ 24 rule?

No, an AMEX business card doesn't not appear on your credit report unless you default on the account, therefore your 4/24 status should remain intact should you decide to app for an AMEX biz card

 

Everything else depends on your credit on whether or not you get approved for a Chase card but your 5/24 status will not be an issue

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FishingGuy
Regular Contributor

Re: Does a biz card count toward 5/ 24 rule?

OK Thank you Simply Noir.....   That's what I thought but I just wanted to check, 

All scores in the 760's- 770's so we'll see,  probably won't apply for Chase for awhile.... but bus card may come first.....   thanks for the info !

Message 3 of 5
ScorpioRising
New Contributor

Re: Does a biz card count toward 5/ 24 rule?


@FishingGuy wrote:

OK Thank you Simply Noir.....   That's what I thought but I just wanted to check, 

All scores in the 760's- 770's so we'll see,  probably won't apply for Chase for awhile.... but bus card may come first.....   thanks for the info !


 

You should apply for a Chase Business card before any personal ones. The reason being that Chase's Biz cards won't count against your 4/24. You can apply for the Chase Biz cards you want and STILL be at 4/24. I'm not sure about the co-branded ones like SouthWest, United etc. though. 

 

However, the minute you apply for a Chase personal card, you will immediately be at 5/24. Just a heads up. 

Message 4 of 5
4sallypat
Established Contributor

Re: Does a biz card count toward 5/ 24 rule?


@simplynoir wrote:

No, an AMEX business card doesn't not appear on your credit report unless you default on the account, therefore your 4/24 status should remain intact should you decide to app for an AMEX biz card

 

Everything else depends on your credit on whether or not you get approved for a Chase card but your 5/24 status will not be an issue


This is GOOD news!

 

I am at 4/24 and thinking of applying for the Ink Cash card.... 

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