Chase 5/24 rule - type of accounts considered

[Anonymous]

Hello everyone,

First, I'd like to thank everone in this community for all the valauable information. 

I was looking for an unlimited cashbak card (independent of categories) to top off my current spending pattern and came across Chase FU, Citi DC and Paypal 2%. I've decided to go for the FU as it seems to have a decent signup bonus. However, I came across Chase's 5/24 rule and had a few questions in mind. Here is the summary of my current open accounts

Discover It - Opened Feb 2016

UMCU Visa platinum cashback - Mar 2016

UMCU revolving student loan - Aug 2016

Macy's Amex - Dec 2016

UMCU Auto Loan - Mar 2017

Delta Gold Amex - Oct 2017

Barclay's Uber Visa - Nov 2017

My question is does Chase look at Credit Card accounts only for the 5/24 rule? If yes, is a revolving credit line (student loan in this case) considered similar to a cc and counted in this 5/24 rule?

Also, I currently have a chase checking and savings account (been with them for a couple of years now) if that helps. I did check if I'm prequalified for any Chase credit cards and it returned with no offers. My credit profile is as below

TU - 728

EX - 768

AAoA - 1 yr

Util - 1%

Any inputs on this would be really helpful!

[FinStar]

If it's specific only to 5/24, yes all of the above listed ones count.

That being said, other than checking online, you can try stopping by the branch and check with a personal banker to determine whether your profile displays any pre-approved offers that sometimes may not display online. Approvals via this process appear to be successful (sometimes) bypassing 5/24, but YEMV.

Worse case scenario, don't apply for anything else for a while until 5/24 is no longer applicable for your situation.

[Anonymous]

Since you already have a banking relationship with Chase go in and speak with a Personal Banker.  They sometimes have preapprovals that don't show up in the pre-qualified page (Pre-approvals are stronger than pre-qualified anyway). 

Go Blue

[Anonymous]

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wrote:
If it's specific only to 5/24, yes all of the above listed ones count.

That being said, other than checking online, you can try stopping by the branch and check with a personal banker to determine whether your profile displays any pre-approved offers that sometimes may not display online. Approvals via this process appear to be successful (sometimes) bypassing 5/24, but YEMV.

Worse case scenario, don't apply for anything else for a while until 5/24 is no longer applicable for your situation.

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Are you sure about this? I keep seeing mixed opinions, some say Student/Auto/Mortgage loans wouldn't count under the 5/24, some say they do.

[Anonymous]

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wrote:

Since you already have a banking relationship with Chase go in and speak with a Personal Banker.  They sometimes have preapprovals that don't show up in the pre-qualified page (Pre-approvals are stronger than pre-qualified anyway). 

Go Blue

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Yes, that seems to be the better option right now, I can may be clarify the 5/24 rule as well.

Go Blue!

[HeavenOhio]

I believe it's all credit cards and revolving lines of credit (HELOCs, PLOCs, etc.) but not loans.

[Anonymous]

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wrote:

I believe it's all credit cards and revolving lines of credit (HELOCs, PLOCs, etc.) but not loans.

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I see, is there a way we can know this for sure? like does Chase have this written somewhere? I'm gonna go to a branch and try to see if they have any pre-approvals for me and also clarify this 5/24 rule.

If what you say holds good, I'm at 6/24 now (adding my revovling student loan but ignoring the auto loan) and will be 4/24 by Apr 2018. If all the accounts count, then I'll be under 5/24 only by Sep 2018. 

[HeavenOhio]

Based on what's been said here and on other sites, Chase will say little to nothing about 5/24. It's not that employees are being secretive. They're in the dark as much as the public is.

While this doesn't apply to you, I forgot to mention that charge cards (like the AMEX green card) also fall under 5/24.

[Anonymous]

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wrote:

Based on what's been said here and on other sites, Chase will say little to nothing about 5/24. It's not that employees are being secretive. They're in the dark as much as the public is.

While this doesn't apply to you, I forgot to mention that charge cards (like the AMEX green card) also fall under 5/24.

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Alright. I guess I'll first try my luck with an in-branch pre-approval and then look into this if I'm not successful there.

Thanks for your time