Lol, I think anything over 6/24 could be considered lol/24 but usually this refers to people who are way past the 5/24 threshold. Usually the LOLZERS, haha thanks to brian_earl_spilner for that word, who get approvals are those with really thick profiles or really good income
As to Chase , in honor of Jago I'll say LOLWUT and Never/24
It's tough, because when you start off with credit that may be a little rough around the edges, you're like a desperate swimmer stuck in choppy waters. You grab on to whatever is around you, hoping to help the situation. You may latch onto that credit one card, or that finger hut application, in the hopes that *someone* will approve you. Then you may eye that capital one pre approval for that quick silver one card, and then those shaky pre approvals start flooding your mailbox, and you keep testing your luck, Macys Card? Let me take that gamble... an Approval? YES! My credit must be improving, maybe I can get an AMEX now?!?! And then you keep going and going and next thing you know you're staring at 30 cards all with overlapping perks, and over 600 dollars in annual fees. But now chase won't let you step into their banking centers... until you realize that Disney Visa Premier isn't part of 5/24 and goodness gracious, you're going to DISNEY NOW CHASE IS GONNA LEARN TODAY, until you finally download that credit karma app and see just how many inquiries you have accumulated in 4 months.
This story is most definitely not based on a true story.
What is LOL/24 and 5/24, etc?
5/24 means that you have successfully applied for 5 new CC in the last 24 months. It's also the threshold beyond which Chase will in most cases automatically deny applications without chance of successful recon for any of their own labeled CC as well as for many of their co-branded cards.
LOL/24 is a term commonly used by churners/bonus chasers to point out that they have received a lot more than 5 cards in the last 24 months. There's no real set figure for what 'LOL' translates to, but if on some sites one risks getting mocked or derided by the hard core churners for misusing the term if "LOL" isn't at the very minimum in the upper teens.
I'm at 8/18.
0/24 isn't automatic if it means 0/Your life. I apped with them when I had no cards thinking my 8 years of banking would help. That was before I knew anything about credit.
Lol Raj, you aren't LOL/24 you are WTMF/24 and are cool as Annual Fee
I think instead of LOL/24, we ought to use MF/24 instead.
I'm 11/24 since November 2016. Not really sure this qualifies as a proper LOL/24, especially since Chase won't give me the time of day anyway for years to come yet because they were IIB.