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Chase 5/24

Eighthundredbound
Valued Member

Chase 5/24

I am currently 7/24 and will be 4/24 in January 2022.

 

I have 9 Amex, 2 Bank of America, 3 Capital One and 1 Discover cards. A 3% CU, little debt, no delinquencies

 

My FICO 8 (6/6/21): EQ: 758, TU: 771, EX: 755

 

I just opened checking and invester accts with Chase. Chase then immediately preapproved me for Sappire Preffered despite my 7/24 status. 

 

My questions are:

1) Is this a fluke in their algorithm? An automatic preapproval based on my scores? I planned on waiting until 1/2022 when I'll be 4/24. I don't want to apply sooner and waste a hard pull if there's a chance I'll be denied. Is the 5/24 pretty consistent even though Chase denies such a rule? Are there exceptions? If so, what are they?

 

Thanks for your thoughts/answers in advance.

Message 1 of 29
28 REPLIES 28
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Chase 5/24

If you have a green or black checkmark or star, it bypasses 5/24

    
Message 2 of 29
Eighthundredbound
Valued Member

Re: Chase 5/24

Thanks for the feedback. What are green, black and/or star checkmarks? also, what do their presence suggests? Approval desoite exceeding 5/24?

Message 3 of 29
GrandBay
Frequent Contributor

Re: Chase 5/24

@Eighthundredbound I would apply and risk the HP.  If it's denied....wait until Jan. If it's approved....congrats! 

Message 4 of 29
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Chase 5/24

When you check your offers. If you see them you're pre-approved and it bypasses 5/24. It's the only way to do so.

    
Message 5 of 29
babygirl1256
Valued Contributor

Re: Chase 5/24

Thanks for posting . . . great information to know; as I thought there was no way around the 5/24 rule!

Starting FICO 8 Score in 06/2019: EQ-625, TU-649, EX-640
Current FICO 8 Score in 06/2021: EQ-796, TU-806, EX-812
Goal FICO 8 Score in 06/2022: EQ-825, TU-850, EX-850
Message 6 of 29
FinStar
Moderator

Re: Chase 5/24


@Eighthundredbound wrote:

I am currently 7/24 and will be 4/24 in January 2022.

 

I have 9 Amex, 2 Bank of America, 3 Capital One and 1 Discover cards. A 3% CU, little debt, no delinquencies

 

My FICO 8 (6/6/21): EQ: 758, TU: 771, EX: 755

 

I just opened checking and invester accts with Chase. Chase then immediately preapproved me for Sappire Preffered despite my 7/24 status. 

 

My questions are:

1) Is this a fluke in their algorithm? An automatic preapproval based on my scores? I planned on waiting until 1/2022 when I'll be 4/24. I don't want to apply sooner and waste a hard pull if there's a chance I'll be denied. Is the 5/24 pretty consistent even though Chase denies such a rule? Are there exceptions? If so, what are they?

 

Thanks for your thoughts/answers in advance.


Did you open those particular 2  Chase accounts at the branch or via phone or online?

Message 7 of 29
Eighthundredbound
Valued Member

Re: Chase 5/24

Both online

Message 8 of 29
FinStar
Moderator

Re: Chase 5/24


@Eighthundredbound wrote:

Both online


Ok, thanks for confirming. 

 

As mentioned further upthread, in order to bypass the 5/24 restriction, the offers online would either need to be a 'black/white star' offer (with a solid APR) or a 'green star/checkmark' and actually state "pre-approved".  The other method to bypass it would be through the branch if a pre-approved offer is available.  Of course, any outcome is still YEMV as nothing is 100% guaranteed.

 

Let us know if you decide to pursue the offer.

 

Message 9 of 29
Eighthundredbound
Valued Member

Re: Chase 5/24

Thanks so much. That's helpful but what are the gold, black.... indicators of and where do I find them?

Message 10 of 29
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