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Chase 5/24 question

mowglidude
Frequent Contributor

Chase 5/24 question

So I was approved for two Chase CC's back in March along with one Barclaycard. So I decided to app for the Chase FU, to fulfill trifecta of CSP & Marriott. Received letter saying I was denied to 'too many credit cards opened in the last two years" which I have read about on the forums many times (5/24). When I called recon, several times actually, they were all pretty stern, that I had opened up too many accounts, incuding a couple a few years ago, I don't even use, an old store card etc..I explained I've spent over $10K on the recent CSP and Marriott cards I've had with them since March, PIF, 0 balance. Today, for s..ts & giggles, I called robolady, only to hear the same 7-10 review message. I hit O & spoke to a CSR who stated it was still being reviewd and he sees no denial. I asked if it is denied, will auto line state that, he said yes. My question is, have you heard, or know of anyone being approved after receiving that initial letter?

Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 820 TU 831 EQ 833 02/09/21
Goal: Was 740 across all bureaus. DONE!
Message 1 of 14
13 REPLIES 13
Yes-Its-Me
Super Contributor

Re: Chase 5/24 question

I hate to be the bearer of bad news...   It will still be declined although the robo lady is still telling you it is being reviewed. I haven't heard yet anyone denied for the 5/24 rule and then getting approved.

Message 2 of 14
mowglidude
Frequent Contributor

Re: Chase 5/24 question


@Yes-Its-Me wrote:

I hate to be the bearer of bad news...   It will still be declined although the robo lady is still telling you it is being reviewed. I haven't heard yet anyone denied for the 5/24 rule and then getting approved.


Yeah, kinda figured, even though CSR saw no denial on his end?

Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 820 TU 831 EQ 833 02/09/21
Goal: Was 740 across all bureaus. DONE!
Message 3 of 14
Yes-Its-Me
Super Contributor

Re: Chase 5/24 question


@mowglidude wrote:

@Yes-Its-Me wrote:

I hate to be the bearer of bad news...   It will still be declined although the robo lady is still telling you it is being reviewed. I haven't heard yet anyone denied for the 5/24 rule and then getting approved.


Yeah, kinda figured, even though CSR saw no denial on his end?


Correct.  Ultimate decision is made by the ledning department and if you have called them twice and it was a null, then no chance.  Your file /application has probably not yet been updated to reflect decision made.

Message 4 of 14
WaveRider
Established Contributor

Re: Chase 5/24 question

How set in stone is the 5/24 rule? A friend of mine got approved for the Slate with a 5k limit recently as her first Chase card and she has 10 or so new accounts in the last two years. Credit score around 700.

Message 5 of 14
creditguy
Valued Contributor

Re: Chase 5/24 question


@WaveRider wrote:

How set in stone is the 5/24 rule? A friend of mine got approved for the Slate with a 5k limit recently as her first Chase card and she has 10 or so new accounts in the last two years. Credit score around 700.


Slate is known to be a somewhat of an exception to the 5/24 rule. Many people have posted of a Slate approval with more than 5 accounts in 24 months. My guess is because it's a zero rewards BT card, so there's no churning to prevent. However the CSP, FU and Freedom are held strictly to the 5/24 rule, although you'll always see someone claim to be the exception to the rule. 

Message 6 of 14
Rallaster
Regular Contributor

Re: Chase 5/24 question

I was over the 5/24 rule whe nI got both my Freedom and CSP. Hell I even had an old CO with Chase becuase of Identitiy theft....I called and they approved me. Both back to back within a 24hr time frame. There is hope but I guess its next to none...or so I'm told!

Score Averages: 750 Chase Sapphire Preferred: $5000, Chase Freedom: $4500, Discover IT: $17,500, AMX BCE: $5000, AMX ED: $10,000, Lowes: $20,000, Amazon: $8000, Walmart: $10,000, Local CU Visa Platinum: $3000, Local CU Visa Signature: $1500.
Message 7 of 14
mowglidude
Frequent Contributor

Re: Chase 5/24 question

How long ago did that take place? I called recon, two separate times and they both stated matter of factly, that I had opened up too many accounts, incuding a couple a few years ago, I don't even use, an old store card etc..Like I said earlier, I explained I've spent over $10K on the recent CSP and Marriott cards I've had with them since March, PIF, 0 balance. I called robolady again today, only to hear the same 7-10 review message. I thought I had read in these forums, people being denied, getting the letter and a card showing up later. Who knows I guess?
Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 820 TU 831 EQ 833 02/09/21
Goal: Was 740 across all bureaus. DONE!
Message 8 of 14
Sandibeach22
Valued Contributor

Re: Chase 5/24 question

Not going to happen.  Co-branded you can still get approval but not the branded cards.  I'm flat out waiting until my report shows nothing in the last 24 mos & no new inq's.


FICOS: EQ-812 TU-811 EX-818 Goal - 840-850 Across The Board
Total Credit Lines - 506K Gardening....
"I am the master of my fate and the captain of my destiny" Nelson Mandela
Message 9 of 14
mowglidude
Frequent Contributor

Re: Chase 5/24 question

I thought I was safe thinking store cards & co branded was not included in the 5/24. Guess I was wrong.
Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 820 TU 831 EQ 833 02/09/21
Goal: Was 740 across all bureaus. DONE!
Message 10 of 14
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