Charge Card

[TheBoondocks]

Hey guys so I'm still over 5/24, I will be under sometime in April 2020, but the last HP I got was from a line of credit, from what I know it doesn't affect 5/24 cause it's not a credit card but anyway I want to get the Green/Gold card, I know it affect 5/24, but if there's no hard pull then it's not going to show up on credit report right? My next card is the Chase Ink Cash. Should I apply for the Charge card after?

I have 3 Amex cards. Thanks.

[AverageJoesCredit]

The hp may not show up on report but the card will. Amex can still hp so it may be wise to always app Chase first then get the Amex. Just in case

[rbentley]

My understanding is that Chase uses the number of accounts you have recently obtained for purposes of 5/24 and not the number of inquiries. Thus, if you get new credit card accounts even with a SP they would still count on Chases 5/24 rule.

[Anonymous]

I thought the 5/24 is new credit lines and not HPs.  So wouldn't adding a card without a HP would still add to the 5/24.  

[FinStar]

Just to add OP, the line of credit will count toward 5/24 once it reports.

Typically, auto loans, mortgages, student loans or similar non-revolving tradelines are excluded from 5/24.

[TheBoondocks]

@FinStar thank you for clarifying, I did get a hard pull but never got it cause I got denied 😂 lol it still won't affect 5/24 right? Thanks!

[FinStar]

Ok that clears that up @TheBoondocks.

If you were not approved then it's just the HP on your CR. Chase goes by revolving tradelines on your CRs when it comes to the 5/24 restriction, not the HPs.

[TheBoondocks]

Okay, so I'm safe! However, if I was approved then it will count against me, then. Dang.

[mikesonthemend]

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@TheBoondocks wrote:
Okay, so I'm safe! However, if I was approved then it will count against me, then. Dang.

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No, you still are not following.

It is the actual opening of an account that matters. % new revolving accounts in 24 months.  Has nothing to do with inquiries, approvals, or denials.

Every account has a date opened field in the report. If you opened 5 accounts, or more, in the past 24 months you are supposedly ineleigible for a new revolver with Chase. Others have reported exceptions, but it appears they all had existing Chase relationships.

You stated you delclined the offer. Therefore no new account, no chage to your 5/24 status.