Chase 5/24 Rule

[Anonymous]

Let's break it down nice and simple:

I would really like the Chase Saphire Preferred card for my trip to Italy to get my $625 credit towards next travel.

Credit History: 18-19 Months (at time of application)

Credit History with Chase (at time of application): 6 months from now

Credit Inquiries are 3, 3, and 5.

My credit utilization is currently 0% as per credit karma (I know it's not always accurate and has lots of flaws) but it has not exceeded 5% within the last 18 months. 

Credit Line: $6750

FICO Scores: 753 Equifax, 746 Transunion, 735 Experian.

Transunion: Kohl's/Capital One Inquiry 2016, US Bank Student Visa 2016, Paypal Credit 2017 (3 inquiries)

Equifax: US Bank Student Visa 2016, Kohl's Visa 2016, US Bank Cashback + 2018 (3 inquiries) 

Experian: US Bank Student Visa 2016, Kohl's Card 2016 (X2), US Bank Cash +, Chase Card Freedom Unlimited (5 inquiries)

Note: I had applied for the Kohl's card before I had my student visa prior that's why Experian shows x2 Kohl's. 

My chase card has not shown up on any other credit reports besides Experian as of now. 

I am looking for: tips, comments, suggestions, or telling me not to apply, what I know as of now:

- Pre-Qualified Offer may give me a better shot. 

- Pre-Qualified Offer (potentially) with presenting it to a Branch Manager may give me a better shot of approval.

[Anonymous]

Looks like currently you have 5 accounts in the last 24 months. So your chances of approval are 0% unless you have an in branch pre qual or green checkmark on your account. For those accounts opened in 2016, when do they turn 2 years old? If it's before you apply for the card, then your chances are better.

[Anonymous]

5/24 or > = denial.  Do not apply until you are < 5/24 if you'd like a shot at approval.

[thummel]

I would wait until you are under 5/24 or unless you get pre qualified.

[Anonymous]

Thank you, I appreciate it. Where would I find a green checkmark on my account? I guess when 6 months comes around I will go to a bank and see if pre-qualify and speak directly with a branch manager. I appreciate everyone's comments.

[Anonymous]

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@Anonymous wrote:

Thank you, I appreciate it. Where would I find a green checkmark on my account?

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That should be when you login to your Chase online account, at the top left corner there's a icon that looks like three lines, go to "Your Offers".