CHASE - 5/24 RULE

[Anonymous]

Question is, why do some get approved with several cards over the 5 allowed within the 24 month period and others do not? In otherwords, is it a rule that is made to be broken?

I had been blacklisted by Chase due to including them in a BK back in 2006. Just almost 2 years ago and was declined, score was in mid low 600s. I called to try and recon and after several questions and on hold a few times the csr asked me about the BK and the chance of getting the decision overturned was gone.

Fast forward to today, scores all in the 720s and just about $100K total credit with less than 1% util reporting. several cards and lOCs from $5K to $20K decided to see if I was still blacklisted and apped for the CSP and within 30 seconds was declined. I called the backdoor today to ask what the reason for denial was and is there anything I can tell them that will turn their decision around.

After verifying me he said oh yes, this is a very typical reason for denial and went into the 5/24 rule. He said you are completey credit worthy and we would love to have you as a customer, but we can't overturn.

Has anyone every called a 2nd time and get someone to overturn?

[thornback]

From what I've read (here)... those who bypassed 5/24  (1) did so by going into a branch to be approved; or (2) were existing cardholders and received a pre-approved offer on their account. 

[Brian_Earl_Spilner]

It can be bypassed, but you have to be an existing client of theirs and they need to offer it to you.

[Anonymous]

Oh and took an 11 point hit to my EX for the App.

[Anonymous]

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@Anonymous wrote:

Question is, why do some get approved with several cards over the 5 allowed within the 24 month period and others do not? In otherwords, is it a rule that is made to be broken?

I had been blacklisted by Chase due to including them in a BK back in 2006. Just almost 2 years ago and was declined, score was in mid low 600s. I called to try and recon and after several questions and on hold a few times the csr asked me about the BK and the chance of getting the decision overturned was gone.

Fast forward to today, scores all in the 720s and just about $100K total credit with less than 1% util reporting. several cards and lOCs from $5K to $20K decided to see if I was still blacklisted and apped for the CSP and within 30 seconds was declined. I called the backdoor today to ask what the reason for denial was and is there anything I can tell them that will turn their decision around.

After verifying me he said oh yes, this is a very typical reason for denial and went into the 5/24 rule. He said you are completey credit worthy and we would love to have you as a customer, but we can't overturn.

Has anyone every called a 2nd time and get someone to overturn?

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Should I assume you applied for a Chase Sapphire Preferred card without first checking to see if you were pre-qualified?

The 5/24 rule is a hard rule for the most part; but there are exceptions.  If you have a pre-existing banking or credit relationship with Chase and you receive a "Selected for You" Offer (also called a "green checkmark" offer in these forums) in Chase's mobile app, your online account, or Chase Credit Journey you are likely to be approved even if you're over 5/24.

But the surest way to bypass the rule is to get an in-branch offer by going to a branch location and asking a personal banker if you have any pre-approved offers for credit cards.  But you must also have a current depository or credit relationship with Chase before you can get in-branch offers.

It helps to keep in mind that the Sapphire cards are Chase's consumer flagship credit cards, so you shouldn't just apply without first considering your odds of approval.

[Omw800]

Yikes 😬11 points is a lot, I’d be pissed if I lost that much for a hard pull. As others have mentioned, there seems to be flexibility if you’re a client banking with Chase. They will make an offer to you when you log into your account. There will be a little green light and a message that says special offer for you, I think

[Anonymous]

Can someone at a branch approve a credit app?

[mikesonthemend]

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@Anonymous wrote:
Can someone at a branch approve a credit app?

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If their computer allows it.

[Remedios]

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@Anonymous wrote:
Can someone at a branch approve a credit app?

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No, credit cards are not approved inside  branches. It's a centralized process and it's not handled on "banking end".

You can apply in a branch, but that's it 

[Anonymous]

I was blacklisted for years with Chase because of a CO with a bank it absorbed. When I applied last year, I was at least at 6/24. Five of the HP/New Accounts were within a year. I did have a checking account with Chase but I was not the primary account holder. Did not go into a branch to apply. No email/snail mail pre-qualifications. Applied online and instantly approved. yes, two HP. From what I have read others have gotten approved with the same criteria.