You are still at 4/24 until credit card X actually reports, so I believe Chase would allow you to keep their card.
Really depends on your profile, and what Chase card you'd be applying for as to whether or not they'll let it slide. If its one of their core cards, they're well known to shut new accounts down for such things.
They base it off when the account is approved, not when it reports.... hence the reason they've been known to close down people they view as trying to game the system in that way. When it reports, they'll see the account open date.
I guess OP would have to stay on their radar for them to go back and review the actual account open date.
@Creditswooner wrote:Hello!
Okay so I just got approved for an account that would put me at 5/24, rendering me generally ineligible from opening a new Chase card. However, the 5th account has NOT reported yet, as it just opened two days ago (haven't even received the card yet).
That said, if I apply and am approved for a Chase card before that other new account reports, will Chase allow it? Or will they automatically close the account if they see I'm 5/24 before fully opening the new Chase card/activating the card?
For example, Let's say that I am approved for a credit card from issuer X on Monday. Then, 2 weeks later on Tuesday I am approved for a Chase card before the other new account reports. Then, on the following day (Wednesday) the other new account (the one that I opened right before the Chase approval) reports to the credit bureaus, putting me at 5/24 before the Chase card ships/account is fully opened/set up/reported to the credit bureaus. Will Chase automatically close the account because I will technically have been 5/24 before applying? Or will they allow it to remain open since I was approved before they knew I was 5/24?
I wouldn't apply for the Chase card now, because Chase does follow up after granting credit, with soft pulls, and does frown on 'credit-seeking' behavior. They won't "automatically" close the account, but it's not inconceivable that they might. It's unlikely, since it's only one additional card, but you never know.
@Creditswooner wrote:Hello!
Okay so I just got approved for an account that would put me at 5/24, rendering me generally ineligible from opening a new Chase card. However, the 5th account has NOT reported yet, as it just opened two days ago (haven't even received the card yet).
That said, if I apply and am approved for a Chase card before that other new account reports, will Chase allow it? Or will they automatically close the account if they see I'm 5/24 before fully opening the new Chase card/activating the card?
For example, Let's say that I am approved for a credit card from issuer X on Monday. Then, 2 weeks later on Tuesday I am approved for a Chase card before the other new account reports. Then, on the following day (Wednesday) the other new account (the one that I opened right before the Chase approval) reports to the credit bureaus, putting me at 5/24 before the Chase card ships/account is fully opened/set up/reported to the credit bureaus. Will Chase automatically close the account because I will technically have been 5/24 before applying? Or will they allow it to remain open since I was approved before they knew I was 5/24?
Sounds like you do not understand how the Chase 5/24 rule works. First it only applies to Chase applications. Second if another lender has not reported anything when Chase checks your report then it does not count. AU Accounts are excluded on manual review only(Computer will count them against you). Chase will only allow you to open 5 new credit card accounts at any reporting institution in the past 24 months(2yr) before they usually auto decline your application. Once your application is approved the rule no longer applies but Chase can and usually does review the account and can invoke the clause in the terms to close it whenever they want. This depends on what product you got from Chase and if they care how stretched your profile is. For example the Chase Amazon Prime Visa has Amazon asking for leniency a lot of the time because it is a popular store. Meanwhile the Chase Sapphire Reserve Visa Infinite accounts will be suffering from a microscope probe because Chase wants them to be the best of the best.
