Chase CSP 5/24 Rule....

[orozcobusiness]

Hello, can someone explain this 5.24 rule when applying for the CSP card?

[Discover2016]

Basically it means that if you have more than 5 new accounts reporting on your credit report in the last two years you won't be approved. Inquiries don't count, it has to be new trade lines. 

[orozcobusiness]

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@Discover2016 wrote:

Basically it means that if you have more than 5 new accounts reporting on your credit report in the last two years you won't be approved. Inquiries don't count, it has to be new trade lines. 

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What counts as 5 new accounts. Do tutition loans, furniture cards count? What about Chase accounts. Thanks for any help on this subject.

[Anonymous]

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@orozcobusiness wrote:

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@Discover2016 wrote:

Basically it means that if you have more than 5 new accounts reporting on your credit report in the last two years you won't be approved. Inquiries don't count, it has to be new trade lines. 

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What counts as 5 new accounts. Do tutition loans, furniture cards count? What about Chase accounts. Thanks for any help on this subject.

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The Chase and furniture cards definitely count.  The tuition loan probably won't count 

[Anonymous]

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@orozcobusiness wrote:

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@Discover2016 wrote:

Basically it means that if you have more than 5 new accounts reporting on your credit report in the last two years you won't be approved. Inquiries don't count, it has to be new trade lines. 

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What counts as 5 new accounts. Do tutition loans, furniture cards count? What about Chase accounts. Thanks for any help on this subject.

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Those may not count but Chase has been denying based on total new accounts in general and YMMV. So how many new accounts do you have? How many inquiries? Balances etc.. are  all going to be factored in.  The rules have been tighten by Chase.

[orozcobusiness]

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Yes-Its-Me wrote:

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orozcobusiness wrote:

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Discover2016 wrote:

Basically it means that if you have more than 5 new accounts reporting on your credit report in the last two years you won't be approved. Inquiries don't count, it has to be new trade lines. 

---

What counts as 5 new accounts. Do tutition loans, furniture cards count? What about Chase accounts. Thanks for any help on this subject.

---

Those may not count but Chase has been denying based on total new accounts in general and YMMV. So how many new accounts do you have? How many inquiries? Balances etc.. are  all going to be factored in.  The rules have been tighten by Chase.

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Well I have around 7 new accounts within the 24months.....and running around overall <10% utilization....

[Anonymous]

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@orozcobusiness wrote:

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@Anonymous wrote:

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@orozcobusiness wrote:

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@Discover2016 wrote:

Basically it means that if you have more than 5 new accounts reporting on your credit report in the last two years you won't be approved. Inquiries don't count, it has to be new trade lines. 

---

What counts as 5 new accounts. Do tutition loans, furniture cards count? What about Chase accounts. Thanks for any help on this subject.

---

Those may not count but Chase has been denying based on total new accounts in general and YMMV. So how many new accounts do you have? How many inquiries? Balances etc.. are  all going to be factored in.  The rules have been tighten by Chase.

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Well I have around 7 new accounts within the 24months.....and running around overall <10% utilization....

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How many inquiries on each bureau?