5/24, 6/24, 1/12 etc...

[tcbofade]

I think that we're all pretty confident about Chases 5/24 rule.

I've read about Citi having a similar 6/24 rule.  Can anyone verify?

I've seen references to a 1/12 rule for US Bank but am not certain if that was legitimate, or good natured humor.

DW is currently 2/12, and 8/24.

She'll be applying for a new card or two later this month, but I don't want her to waste applications on known default denials.

I'm aware that Chase is a no go without a preapproval.

Citi?  US Bank?

She'll be looking for BT cards, and right now our thoughts are on PenFed Power Cash and Citi Diamond Preferred.

Your thoughts?

[Anonymous]

Citi has a 6/6 rule regarding inquiries. It doesn't seem to be applied to everyone though so it's not as solid as Chase's 5/24. 

1/12 is definitely a thing with US Bank, even on otherwise exceptional profiles, they have said no for being 2/12 or more. A few 1/12 have gotten declined and got it overturned on recon but they won't even send a 2/12 to be reconsidered. 

I personally would go with PenFed with how much they have been approving lately. Citi SLs can be kind of weak. 

[tcbofade]

Thank you sir.  

If Citi's 6/6 rule only applies to inquires, she's good... Citi pulls TU for her, and her inquiries are 1/6, 3/12, and 8/24.  

We're waiting for a few statements to cut, but shortly after the tenth she'll be applying for PenFed.  

[Anonymous]

Yeah PenFed is even mailing me offers for the PCR now and they're tempting me but I have been in the garden so I can get to 1/12 for an October Cash+ app. 

Still though, they're one of the only mailers I have gotten since the pandemic started (Wells Fargo sent me one for Cash Wise early on but hasn't lately) and I'm not even a member so they're very much in a lending mood. I'm sure her chances are great there. 👍 

[M_Smart007]

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@tcbofade wrote:

Thank you sir.  

If Citi's 6/6 rule only applies to inquires, she's good... Citi pulls TU for her, and her inquiries are 1/6, 3/12, and 8/24.  

We're waiting for a few statements to cut, but shortly after the tenth she'll be applying for PenFed.  

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@tcbofade, I feel Penfed would be more generous with the SCL than Citi.  ..Just my 2 Centavo's

[cashorcharge]

Based on my experience thus far with PenFed...I would agree 1000% with @M_Smart007 

I have been watching Citi's prequal site for a few months...still down.  

[Remi1]

I realize this is an older thread, but... These rules regarding new accounts, do they refer to only new cc accounts or ANY new accounts (including loans, etc)?

[Anonymous]

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@Remi1 wrote:

I realize this is an older thread, but... These rules regarding new accounts, do they refer to only new cc accounts or ANY new accounts (including loans, etc)?

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Only new revolving accounts. Installment loans do not count.

[Remi1]

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@Anonymous wrote:

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@Remi1 wrote:

I realize this is an older thread, but... These rules regarding new accounts, do they refer to only new cc accounts or ANY new accounts (including loans, etc)?

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Only new revolving accounts. Installment loans do not count.

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That was quick, thank you!

[JLRDC909]

The 5/24 has been known on rare occasion to bypass. I have read that some United Cards sometimes fall through the cracks and get approved. 

I think the US Bank number/rule is legitimate. Nearly all applications go to a manual review anyways with them. Super conservative and are not known to budge upon recon with inquiries and new accounts. 

Citi. Ahhhh. A friend just applied for the Citi Custom Cash and was denied. Reason being she "had no new trade lines opened in the past 48 months". Yes, she is not into the CC game at all, but got turned down for no new accounts. I find this odd but I saw the denial. Citi can be weird. I've had to recon most approvals with them but they listen. 

BofA also has some weird rules also, so if interested in their cards I'd check it out. I think it's like no more than 2 or 3 approvals in a year