@adelphi_sky wrote:
@Anonymous wrote:
@edcb wrote:
@Anonymous wrote:
@OmarGB9 wrote:
Unfortunately not that surprising. 5/24 rule keeps people from obtaining the Freedom/Slate/CSP if they have more than 5 new accounts in the last 2 years.This is so mind boggling to me considering all 200 (exaggerating) of my new accounts in last 2 years and was approved for the the Slate recently.
Really? C'mon you guys. Not everyone keeps up with the "5/24" rule. I DO have a life, and I was completely surprised because of my hx with them and the quality of other accounts....to someone who is a more average credit user - yes, it was a little surprising. It isn't like they ask you - or warn you - of the "5/24" rule. Apparently that is something known to hardcare credit folk which, unfortunately, I don't have the time to be right now. So make fun of me, be sarcastic, that is fine....
But that is also why I came here to ask if the recon was worth it....because I am aware that I do not know everything.
I cant speak for anyone but I don't think anyone was making fun of your or being sarcastic. It's usually talked about on every Chase thread so they were just informing that the 5/24 rule is out there. Not being condescending. I myself was just approved as I was saying above and I have opened over 10 cards in past 2 years so I guess its a profile by profile situation.
Was your app status ever pending or did you get instantly approved? If so, was it a 7-10 day pending or a 30 day pending? Some people think that there is a big difference between the two. But of course exceptions exist.
Approval was definitely not instant. I'll have to check my laptop when I get home. I believe I took a screenshot of the final screen after I submitted my app. I was prequalified for it. Thought I was denied because I never heard anything. I think I called about this app but I'm not completely sure. Was denied for the Freedom card a few weeks earlier as well and the recon analyst reason for denial was too many new accounts.
@Anonymous wrote:
@OmarGB9 wrote:
Unfortunately not that surprising. 5/24 rule keeps people from obtaining the Freedom/Slate/CSP if they have more than 5 new accounts in the last 2 years.This is so mind boggling to me considering all 200 (exaggerating) of my new accounts in last 2 years and was approved for the the Slate recently.
Slate seems to be the outlier. There have been a couple of other people who reported getting by the 5/24 rule and being approved for the Slate. My guess is since it doesn't earn rewards and has no sign up bonus, sometimes they let those through. That's the exception to the rule though. Much more rare to hear of someone getting a CSP/Freedom after opening more than 5 accounts in 2 years.
@OP: Sorry if my post came off as condescending. That wasn't my intention at all. I was merely trying to say that it's a very common topic around here, and yes of course regular people outside this forum who don't apply for new cards every week would have no idea about this rule, nor does Chase come right out and say it. But speaking to backdoor analysts is when you find out about it, as there have been multiple instances of people attempting to recon and being grilled by the analysts for so many new accounts.
@OmarGB9 wrote:
@Anonymous wrote:
@OmarGB9 wrote:
Unfortunately not that surprising. 5/24 rule keeps people from obtaining the Freedom/Slate/CSP if they have more than 5 new accounts in the last 2 years.This is so mind boggling to me considering all 200 (exaggerating) of my new accounts in last 2 years and was approved for the the Slate recently.
Slate seems to be the outlier. There have been a couple of other people who reported getting by the 5/24 rule and being approved for the Slate. My guess is since it doesn't earn rewards and has no sign up bonus, sometimes they let those through. That's the exception to the rule though. Much more rare to hear of someone getting a CSP/Freedom after opening more than 5 accounts in 2 years.
@OP: Sorry if my post came off as condescending. That wasn't my intention at all. I was merely trying to say that it's a very common topic around here, and yes of course regular people outside this forum who don't apply for new cards every week would have no idea about this rule, nor does Chase come right out and say it. But speaking to backdoor analysts is when you find out about it, as there have been multiple instances of people attempting to recon and being grilled by the analysts for so many new accounts.
Slate can go either way on the 24x5 rule.. Since it isn't a UR reward earner.. We were just trying to give you info.. Chase should make this clear on their application page before applying, but we could only wish they would be so nice to do so.