What does Chase 5/24 count?

[myquestionsfico]

I have been in rebuilding mode the last few years and currently at 9/24, though two of these accounts I decided to close after around a year because I had gotten some that were duplicative and not really being used.  Do the 2 closed accounts count towards 5/25 for Chase?  I am assuming they do. 

I should be at 4/24 around this time next year, where I'd like to get a Chase Sapphire Preferred (that is, if the world opens up to travel again).  Until that time, no apps for me!

[Anonymous]

Yes, closed accounts are counted...  The metic is accounts opened.

[KLEXH25]

You basically have to count how many revolving accounts you have opened in the past 2 years (24 months). So an account that was opened with SP still counts, and an account that was opened and then subsequently closed still counts too.

[myquestionsfico]

Thank you both.  Totally makes sense, and honestly, I'm fine with the ones that I closed counting towards the 5. 

How about something like Amex Platinum, which must be paid in full each month?  Does that count, as it is not a revolver?

[KLEXH25]

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@myquestionsfico wrote:

Thank you both.  Totally makes sense, and honestly, I'm fine with the ones that I closed counting towards the 5. 

How about something like Amex Platinum, which must be paid in full each month?  Does that count, as it is not a revolver?

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Yes it counts. 

https://www.doctorofcredit.com/chase-524-rule-explained-detail-need-know/

[myquestionsfico]

Thank you!

[TSlop]

Keep in mine that accounts like Google, Dell, and other similar accounts..... count. I opened an account for 0% financing at a furniture store and that counted.

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[myquestionsfico]

Yes, but per the link shared, VISA-like accounts - that can be used in more places than with single vendor - count, but if they are single vendor only they do not.  Is that not the case?

[TSlop]

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@myquestionsfico wrote:

Yes, but per the link shared, VISA-like accounts - that can be used in more places than with single vendor - count, but if they are single vendor only they do not.  Is that not the case?

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It's certainly possible, but if you are concerned, you'd want to research before opening a new one or counting your own status. My furniture account (Wolf's) and Google are Synchrony, and Dell is a webank, and all show up as revolving charge accounts, so they count. I think my Wolf's account can be used at participating stores (just got an email about it actually). Google, I'm not sure where else that can be used, if anywhere. I think I saw a forum post about the Dell account being able to be used somewhere else, but I don't know where.

[myquestionsfico]

Thanks so much.  This is a perfect example of why these forums are so great.  The credit industry is such a train wreck - so many rules and unwritten rules and exceptions.  I'm always amazed when people navigate it WELL.  Guess the only way to do that is to arm yourself with knowledge, be proactive, and make smart choices (as best as you can).