@AyaMai wrote:Your thoughts are appreciated.
Chase doesn't have any specific rules on having to wait 3-6 months for a second card. I believe their only limit is no more than 2 cards in 30 days.
Waiting the 6 months might make an additional HP less impactful if you have a thin file.
Some people try to do 2 Chase cards at once In hopes of them combining into one HP, but there are conflicting data points on this and I wouldn't assume it to be the case.
Edit: Apparently I was incorrect and there is nothing conflicting about this, never happens
@SDMarik wrote:
@AyaMai wrote:Your thoughts are appreciated.
Chase doesn't have any specific rules on having to wait 3-6 months for a second card. I believe their only limit is no more than 2 cards in 30 days.
Waiting the 6 months might make an additional HP less impactful if you have a thin file.
Some people try to do 2 Chase cards at once In hopes of them combining into one HP, but there are conflicting data points on this and I wouldn't assume it to be the case.
Chase no longer combined HPs.
@Anonymous wrote:Chase will not approve you for a card if you’ve opened 5 or more new card accounts in the last 24 months. To calculate your 5/24 score check your credit report.
There have been a bunch of data points recently contradicting this. While it is the rule of thumb, there are certianly exceptions made when it comes to targeted black or green check offers and pre-qualifications on the things like the chase amazon card.
@SDMarik wrote:
@Anonymous wrote:Chase will not approve you for a card if you’ve opened 5 or more new card accounts in the last 24 months. To calculate your 5/24 score check your credit report.
There have been a bunch of data points recently contradicting this. While it is the rule of thumb, there are certianly exceptions made when it comes to targeted black or green check offers and pre-qualifications on the things like the chase amazon card.
Only on cobranded cards. No exceptions on core Sapphire and Freedom products. More likely than not 5/24 is still a major consideration.
Somehow, it seems the majority of the discussion hasn't really related to OP's original question. @AyaMai just asked if waiting a longer period of 90 or 180 days between Chase applications is suggested, but never said anything about opening two accounts in a single day trying to use one HP. And OP also never asked about exceptions to 5/24.
Back to the original question, my belief is that yes, it is better to wait 90 to 180 days between Chase cards. My rationale is that Chase is sensitive to credit-seeking behavior (as evidenced by the 5/24 rule) and Chase has been known to shut down their cards when they learn an applicant has included them in an app spree. I applied for five Chase cards in a row in 2018-2019. While I have a Chase credit relationship dating back to 2000, I always spaced my applications at least 90 days so as not to raise undue concerns with them. All my applications were approved and cards/limits all stayed intact. Would they have been okay with more aggressive applications? Possibly, but I've usually recommended that 90-day+ pacing as the safer course of action. I believe that would be even more important with a lower FICO, thinner profile, or less-established relationship with Chase.
