Chase 5/24 limit: Do backdated Amex cards count?

PointLager · ‎12-15-2015

So Chase had this 5 cards opened in 24 months limit.

Do they just look at accounts opening date or HPs? I've opened a good chunk of new cards over the last few months but all the Amex cards are backdated to over ten years . I have 11 HPs on EX, 8 due to drop by March. 4 HP on TU

Latest card opened: Everyday pref Amex (Jan 2015-also latest cc HP)
Latest Chase card: United Club (jul 2014)

Cards opened in last 24m
Amex (3 cards in Feb-Mar 2014, EDP Jan '15)
Barclays (Mar '14)
Chase (2 cards in Feb-Mar 2014, one closed since then, plus United club jul 2015)
BofA/Fia (2 cards. March 2014)

My plan has been to garden until 24 months since my CSP bonus and then re-app for it. But I've been tempted by the ritz card given the chatter about the potential return of the 140k)

EX FICO 810
TU FICO 800

I've put over $50k through the chase United card. (Non-MS) and got a $150 retention credit this summer.

Wondering about a risk for decline for the RC card, given the "recent" accounts. I soc-drawered most of the cards and have used united as my main one, though I've put a fair amount of spend on the Amex platinum. Always PIF Before the statement cuts. Highest intra-month balance was on Amex Platinum for $12k but I paid it down to end up with only $1.8k on the statement. Highest balance on the United club was $7k to $9k two months in a row, both PIF before the statement printed. Followed by auto CLI from Chase.

Current CL with Chase is $20k, between Freedom and United club

for a recon I wouldn't mind moving CL from other cards and my main argument for why the card is the sale of Starwood, which has been my preferred hotel CC.

Would you guys risk it or do I sit tight until March? Not that i I'm looking to grab another expensive card but 2x$300 in year one has an appeal. I didn't do that when i got my Amex platinum.

Anonymous · ‎12-15-2015

The only thing they have to go off are the account open dates on your EX report.

You're borderline... Just do it IMHO. One more HP isn't going to hurt your score or profile. The new account would hurt more than the HP, so might as well try since you've got exactly 5-6 cards they'd pick up on in the past 24 months (Amex backdated cards excluded).

Anonymous · ‎12-15-2015

Also, the 5/24 rule only applies to Freedom, CSP, and Slate.

Anonymous · ‎12-15-2015

There are two dates for each card: Date opened, and first date reported. My Amex ED shows opened January 1980, but first reported February 2015. CC companies have access to both dates when they pull a report. I doubt Chase is stupid enough to ignore the first reported date.

Anonymous · ‎12-15-2015

@Anonymous wrote:
There are two dates for each card: Date opened, and first date reported. My Amex ED shows opened January 1980, but first reported February 2015. CC companies have access to both dates when they pull a report. I doubt Chase is stupid enough to ignore the first reported date.

They're probably going to go off the opened date no matter what unless they've got specific logic in to check if first reported date >> open date. That would basically be special Amex logic.

My bet: they don't.

lg8302ch · ‎12-15-2015

I am usually rather conservative with apping but in your case I would play the "no risk no fun strategy" especially if you are tempted with 2 x 300$ ... 5/24 is as far as I know only for their main cards and not the co-branded accounts. What is the worst that can happen? Another pull or two but so what ... then just apply in March or later again. Good luck!

Anonymous · ‎12-15-2015

@Anonymous wrote:
Also, the 5/24 rule only applies to Freedom, CSP, and Slate.

Exactly. All of this is moot when it comes to the Ritz card.

PointLager · ‎12-15-2015

Thank you all.
Let's first see if there are any new offers. I wouldn't pay another $395 for 70k, given that I have no plans to drop Amex Platinum or United Club card.

newhis · ‎12-16-2015

@Anonymous wrote:
There are two dates for each card: Date opened, and first date reported. My Amex ED shows opened January 1980, but first reported February 2015. CC companies have access to both dates when they pull a report. I doubt Chase is stupid enough to ignore the first reported date.

This makes me wonder, if/when FICO score will change to use the first reported date instead of date opened.

PointLager · ‎12-16-2015

I would expect FICO to keep using account opening date for two reasons:

1) What happens when folks lose a card and a new number is issued. It often (maybe depends on the issuer) shows up as a new account from reporting date.

2) Amex closed the backdating "loophole" so this maybe less of an issue now, even for churners.