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Chase 5/24 policy.

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Chase 5/24 policy.

I was looking into getting a chase card now that my FICO score is in the 670s. The issue is that chase has the 5/24 rule. I opened 9 credit cards the past two years. I can easily close 5 of them as they are store cards with low limits that my regular cards can easily do the job. If I close those 5 it will bring me down to 4 credit cards open. Will chase consider me for a card or will they use all the closed accounts against me as well.
Message 1 of 6
5 REPLIES 5
Frequent Contributor

Re: Chase 5/24 policy.

The 5/24 rule applies to any new accounts opened in the last 24 months, so closing 5 of them now will not get you under 5/24, unfortunately.
Message 2 of 6
Established Member

Re: Chase 5/24 policy.

Im not sure but the Chase AARP and Chase Amazon Visa I think they don't count for the 5/24 rule, correct me if Im wrong.
Credit Cards:
Banco Popular Visa Novel CL$800
Discover It Cash Back CL$2300
BoA Cash Rewards CL$1200
Sync Amazon Store CL$1500
Sync Paypal Cash Back CL$6400
Citi Double Cash CL$1000
Amex Blue Cash Everyday CL$4300

FICO 8 Scores (03/14/19):
EX: 700 | EQ: 684 | TU: 712

Goal: 780 EQ, EX, TU
Message 3 of 6
Frequent Contributor

Re: Chase 5/24 policy.

My understandng is that all Chase cards are now believed to be under the 5/24 rule, including the AARP and Amazon.

 

The only surefire way to bypass the 5/24 rule is an in-branch preapproval (if you bank with Chase). 


Message 4 of 6
Valued Contributor

Re: Chase 5/24 policy.


@master11 wrote:
Im not sure but the Chase AARP and Chase Amazon Visa I think they don't count for the 5/24 rule, correct me if Im wrong.

 

Chase updated their policy in November, 2018 and now ALL Chase cards fall under the 5/24 Rule.





Message 5 of 6
Established Member

Re: Chase 5/24 policy.

Thanks for the update!
Credit Cards:
Banco Popular Visa Novel CL$800
Discover It Cash Back CL$2300
BoA Cash Rewards CL$1200
Sync Amazon Store CL$1500
Sync Paypal Cash Back CL$6400
Citi Double Cash CL$1000
Amex Blue Cash Everyday CL$4300

FICO 8 Scores (03/14/19):
EX: 700 | EQ: 684 | TU: 712

Goal: 780 EQ, EX, TU
Message 6 of 6
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