Chase 5/24 clarification question

[Anonymous]

Hey guys, so I completely understand the basics of Chase auto-denying card apps if they see 5 or more new credit card accounts opened in the previous 24 months, however I have to ask for a little bit of clarification if anyone has experience or knowledge regarding this.

Obviously, if you were to open new cards just before applying for something with Chase - the other new cards would not yet show up on your reports so you could get in that way, but how about Chase cards?

I ask because as you may have seen from my other posts, I am currently at 4/24 from last summer but my goal/plan is to get a CSP + Freedom combo going as soon as my credit permits approvals for both. 

As things have been going so far, Freedom has been showing up for me on their prequal page for the last 3 months and I expect my scores to be 750+ across the board before too long which should get me in the door for CSP as well but as for getting CSP and Freedom at the same time I'm not sure what to expect.

On one hand, I will not be at or above 5/24 at the time of applying for either, and I have seen plenty of people apply for both at the same time and gett approved for both so that seems like a possibility.

On the other hand, however, obviously they will have both applications so I could see them approving 1 card, then denying the 2nd one since I would technically be at 5/24 even though the first card wouldn't be reporting instantly.

What do you guys think?

[kdm31091]

AFAIK, it doesn't matter if they are Chase cards or not. More than 5 in 24...denied. So in your example, the first app may be approved (if otherwise qualified), the second denied.

[Anonymous]

Right, i understand it doesn't matter where the 5 cards were issued from.

I'm just not sure if they would deny the 2nd simultaneous app for 5/24 since technically the report pulled would only show 4 accounts, or if they would auto deny it since they could see their own applications from me and would still know that I'd be over the card account limit once they approve the first card.

[Anonymous]

Interesting question.

I got my Chase Freedom even though I was past the 5/24 rule, but only 4 had actually reported at the time, so I was able to sneak in.

If you are in this situation, you're taking the risk that their computer systems can count that Freedom was 5/24 and CSP would be 6/24 and deny the CSP.

I honestly think you could get away with it if you applied back to back. I just don't see their computers logging that information that quickly. Of course, I could be wrong!

[Anonymous]

Rousseau31 thanks and glad to hear you were able to sneak in too. I have more of a need for the CSP since i have no travel card yet, so I'd probably go for that first but if there's a chance that i could get Freedom as well i would like to snag it to help rack up more UR points

[Anonymous]

so I guess the best thing to do will be just try it out and see what happens?

My scores and reported utilization should be ready for a shot in a couple more months so I am already getting a little antsy haha

[kdm31091]

That's really all you can do. Try it and see what happens. Worst case scenario is a declined app. Not the end of the world. So if you really want to, go for it.