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Disney Denied - 5/24 Rule

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Established Member

Disney Denied - 5/24 Rule

Hi Everyone! 

 

I just applied for the Disney Visa and got the 7-10 day message...tried a recon, but the CS rep let me know the denial was for the 5/24 rule. He said with a denial for 5/24 they cannot recon. Smiley Sad 

 

I searched the forum before applying and couldn't find a definitive answer about the this, so just posting for others. Disney falls under Chase's 5/24. 

Current Scores: EQ: 666 EX: 690 TU: 693 on 12/2018
Starting Scores: EQ: 590 EX: 596 TU: 596 on 08/2014 from myFico
Message 1 of 8
7 REPLIES 7
Regular Contributor

Re: Disney Denied - 5/24 Rule

Smiley Sad Awe this isn't good news... I was hoping to get that card early next year and I'm LOL/24. I'm not happy about the 5/24 rule that Chase has. I love Chase bank they are my primary bank here in Gainesville but 5/24 and the recent extension of it to more cards has me wondering what they are up to. I have known since 2009 that they are a Nervous Nellie Creditor, which is why I currently have only one chase credit product (& no Barclay products). I wonder if they will let me change my FU for a Disney card.

June 2019 EX 778, TU 788, EQ 790 April 2019 FICO EX 802, TU 790, EQ 804, Oct 2018 Fico'd EX 817, TU 811, EQ 798
June 2018 Fico's EX 830, TU 817, EQ 824
PenFed Power Cash Rewards $17K (Jan 2018), Discover IT $20.5k(Jan 2018), Capital One $7500 (Aug 2014), Chase Freedom (PC from FU Jan 2019) $4500 (Jan 2018), Sam's Club MC$10000 (Jan 2018), BBVA $25K (Apr 2018) ,WF Propel 15.5k(Jul 2018), USB Cash+ $14K(Jul 2018), Citi Best Buy Visa Platinum $8500(Sept 2018) Digital Federal Credit Union $15k (Nov 2018) BBVA Compass ClearPoints $8100 (June 2019) Williams Sonoma Visa Comenity $1500 (July 2019)

Campus USA CU Auto Loan 85k (Aug 2018) BBVA Compass Express Loan $15k (Nov 2018)
Rebuilder Cards: First Permier $1250 closed (6/11/18), FNBO $2600( Nov 2006)

AAoA 2.8 years UT 1%
Store Cards: HomeDepot $12000(May 1998), Saks $800(Oct 1978) Kohl's $2.5k (Nov 2018) AMZN Store Card $5K (Jan 2019) Target RedCard &2.5k (Apr 2019)
Message 2 of 8
Established Member

Re: Disney Denied - 5/24 Rule

I hadn't thought of that! Do you know if you can take advantage of cash back promos when you PC a card?

Current Scores: EQ: 666 EX: 690 TU: 693 on 12/2018
Starting Scores: EQ: 590 EX: 596 TU: 596 on 08/2014 from myFico
Message 3 of 8
Valued Contributor

Re: Disney Denied - 5/24 Rule


@KeishaMaggie wrote:

Hi Everyone! 

 

I just applied for the Disney Visa and got the 7-10 day message...tried a recon, but the CS rep let me know the denial was for the 5/24 rule. He said with a denial for 5/24 they cannot recon. Smiley Sad 

 

I searched the forum before applying and couldn't find a definitive answer about the this, so just posting for others. Disney falls under Chase's 5/24. 


Unfortunately, about a week ago Chase expanded the number of cards that now fall under the 5/24 rule.  Co-branded cards like Hyatt, IHG, and British Airways Visa are now subject to the rule but this is the first time I've heard it applied to the Disney card.





Message 4 of 8
Valued Contributor

Re: Disney Denied - 5/24 Rule

Op, sorry for the denial.  Kind of stinks that you had to find out this way.  But thanks for sharing that data point for others.

                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 5 of 8
Moderator

Re: Disney Denied - 5/24 Rule


@KeishaMaggie wrote:

I hadn't thought of that! Do you know if you can take advantage of cash back promos when you PC a card?


PCs are not possible from Chase core cards (Freedom, Freedom Unlimited, CSP/CS, CSR, Slate) to any other co-branded products and viceversa (i.e. Disney, Amazon, Marriott, United, Southwest, AARP, etc.). 

Message 6 of 8
Frequent Contributor

Re: Disney Denied - 5/24 Rule

Do accounts like loans or a secured loan fall under chase 5/24?

Message 7 of 8
Moderator

Re: Disney Denied - 5/24 Rule


@Bees18 wrote:

Do accounts like loans or a secured loan fall under chase 5/24?


@Bees18it appears this comes up with frequency and general information has been shared in a variety of threads, including the one below for reference (alternatively the search feature can yield lots of recent DPs):

 

https://ficoforums.myfico.com/t5/Credit-Cards/What-counts-towards-Chase-s-5-24-rule/m-p/5404332#M160...

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