AMAZON PRIME VISA

[longtimelurker]

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@FinStar wrote:

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@KJinNC wrote:

As an aside, I wonder if Chase's partners are ok with the 5/24 rule. I think if I were Amazon, I would rather not add special roadblocks, just normal "good credit or bad credit" considerations.

I'm sure the OP has resolved this situation by now one way or the other, but for anyone else reading this, bear in mind that the Amazon Store Card gives the same 5% cash back for Prime members, and it's offered by Sync Bank, which is pretty easy to deal with and certainly has no 5/24 rule. Of course, it's also a store card, not a standard "use anywhere" bank card, but it's a great store card for Amazon shoppers.

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Chase has contractual liabilities with its partners and most of them renewed said partnerships recently (SWA, United, etc.) so it's fairly certain these discussions took place as part of their long term risk and profitability strategies. It's not something that Chase decidedly entertained in a vacuum. 

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Yes, I doubt it's a particularly hard sell to the partners that the majority of people who have got 5 ("Yes, that's right, five!  Can you believe it!  And that's just the ones they were approved for!") in the last two years aren't going to be particularly loyal or profitable, and are probably one or more  of a) bonus chasing, b) desparately seeking credit because they are on the verge of financial disaster, c) irresponsible who just apply without any thought

So Chase is doing them a favor with quality control, of those who might slip through normal checks.

[KJinNC]

If 5/24 was a lever any CC issuer could pull to easily have higher profits, they'd all do it. I guess it works for Chase, but it may not work for everyone. The Chase cobrands are not necessarily upmarket, and in general, I would think that brands would rather more people have their cobrand cards than fewer people. Same reason that Amex cobrand cards are easier to get than Amex core cards, because the brands want people to have the cards to encourage brand loyalty. 5/24 seems like a philosophical mismatch for cobrands. That said, it's certainly true that I and many people on this forum have unusual recent credit patterns, so it may not really be a large-scale issue in the market.

[Anonymous]

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@KJinNC wrote:

If 5/24 was a lever any CC issuer could pull to easily have higher profits, they'd all do it. I guess it works for Chase, but it may not work for everyone. The Chase cobrands are not necessarily upmarket, and in general, I would think that brands would rather more people have their cobrand cards than fewer people. That said, it's certainly true that I and many people on this forum have unusual recent credit patterns, so it may not really be a large-scale issue in the market.

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It certainly surprises me that Amazon is okay with it. I'll agree with you there.