I was approved today for the Chase IHG Rewards Premier card.
I would like to apply for Sapphire also, probably in the spring, so I have to pay attention to the 5/24 rule. I made a spreadsheet of all my approval dates and CLs, and realized at the end that NONE of the three bureaus had my Citi Costco card reporting. I've had the card about 11 months, so enough time for reporting to start. The card is a business card under my business name but with my name also listed on the card. I'm a DBA sole proprietor, so the tax ID is my personal SSN. Is it not reporting under my credit report because somehow they have missed that it's the same SSN?
I don't really care - the account is in good standing, and although the CL is generous enough, I don't think it would make a big difference, for example, on my utilization score.
It would, however, make a difference on 5/24. Looking at my credit reports, they show 3 cards opened in the past 24 months listed. But if Citi Costco was included, it would have been 4/24 and approval of the Chase IHG will put me at 5/24. My understanding is that Chase denies most apps if you are at 5/24 or over.
If I am looking to apply for Sapphire in the spring, once I've hit the required spending to grab the points bonus on the IHG card, in actuality with that approved, I'll be at 5/24. But if the Costco card continues not to report, I'll look like I'm at 4/24, so should be good for a Sapphire application.
By the way, I am NOT churning. I'm doing a lot more travel than I used to, and trying to maximize points at hotels and for airlines. I don't control many of my hotel choices, so over time will probably apply for several hotel-branded cards for the points and elite status they give. Concentrating on Chase first specifically because of the 5/24 thing, which I understand is Chase specific.
Appreciate any thoughts from the more experienced!
