chase 5/24 rule and ? about intro apr

[Anonymous]

hey guys so i have a question, a couple years ago i had the 2 chase freedom cards (freedom and freedom unlimited). chase ended up cancelling cause (im assuming) i maxed out one card and had about 70-80% credit utilization on the other one, i continued to pay fine and finally paid them off. my score is also much higher than the past year becuse i've paid some other cards off.

i also have opened 5 cards in the last 2 years, but i have one card that's about to be 2 years old and i just cancelled about a 3 month old gas credit card with a low limit. my question is, is this safely inside the 2/24 rule by chase? and if i am able to get approved do you guys think i'll qualify for the intro promotions again like the $150 cashback and the 0% interest for xx months?

[Five6Two]

It would be helpful if you were to list the card and date in which you opened it for us to best assist you. For example:
Card # 1 - 12/10/2018
Card # 2 - 01/15/2019
Etc.

[Anonymous]

A cancelled card counts as one of the five.

once one card enters the 25th month you should be ok to app. Chase is running the promo you described on specific cards. Nobody can tell you wether or not you will qualify for that card.

[SouthJamaica]

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@Anonymous wrote:

hey guys so i have a question, a couple years ago i had the 2 chase freedom cards (freedom and freedom unlimited). chase ended up cancelling cause (im assuming) i maxed out one card and had about 70-80% credit utilization on the other one, i continued to pay fine and finally paid them off. my score is also much higher than the past year becuse i've paid some other cards off.

i also have opened 5 cards in the last 2 years, but i have one card that's about to be 2 years old and i just cancelled about a 3 month old gas credit card with a low limit. my question is, is this safely inside the 2/24 rule by chase? and if i am able to get approved do you guys think i'll qualify for the intro promotions again like the $150 cashback and the 0% interest for xx months?

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Closing your gas credit card has no effect on the computation.

If you opened 24 new revolving accounts within the prior 2 years, then the rule will likely bar you from getting a new card.

Since Chase cancelled a card of yours in the past, you might be barred in any event, so if I were you I wouldn't apply for anything without a prequalification.

[Physh1]

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@SouthJamaica wrote:

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@Anonymous wrote:

hey guys so i have a question, a couple years ago i had the 2 chase freedom cards (freedom and freedom unlimited). chase ended up cancelling cause (im assuming) i maxed out one card and had about 70-80% credit utilization on the other one, i continued to pay fine and finally paid them off. my score is also much higher than the past year becuse i've paid some other cards off.

i also have opened 5 cards in the last 2 years, but i have one card that's about to be 2 years old and i just cancelled about a 3 month old gas credit card with a low limit. my question is, is this safely inside the 2/24 rule by chase? and if i am able to get approved do you guys think i'll qualify for the intro promotions again like the $150 cashback and the 0% interest for xx months?

---

Closing your gas credit card has no effect on the computation.

If you opened 24 new revolving accounts within the prior 2 years, then the rule will likely bar you from getting a new card.

Since Chase cancelled a card of yours in the past, you might be barred in any event, so if I were you I wouldn't apply for anything without a prequalification.

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I think you mean 5...not 24...

[Anonymous]

The cards were the freedom unlimited and freedom they were opened around January 2017 and closed a few months later, but I never missed a payment and have never been late and paid them off. The other card that should be 2 yrs old is the cap one card which I got August 19, 2017. Now if I do qualify on a new chase freedom card do u think I will receive the intro promotions like the $150 Cashback? Cause if not it’d probably be better to just get an easier card that.

[CreditInspired]

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@Anonymous wrote:

hey guys so i have a question, a couple years ago i had the 2 chase freedom cards (freedom and freedom unlimited). chase ended up cancelling cause (im assuming) i maxed out one card and had about 70-80% credit utilization on the other one, i continued to pay fine and finally paid them off. my score is also much higher than the past year becuse i've paid some other cards off.

i also have opened 5 cards in the last 2 years, but i have one card that's about to be 2 years old and i just cancelled about a 3 month old gas credit card with a low limit. my question is, is this safely inside the 2/24 rule by chase? and if i am able to get approved do you guys think i'll qualify for the intro promotions again like the $150 cashback and the 0% interest for xx months?

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IMHO, I don't think Chase will give you another CC especially if you just "recently" paid off the high balances and also due to prior banking relationship. But I could be wrong.

Also, since Chase's rule is 5/24 and you have opened 5 cards in the last 2 years, this disqualifies you from getting their product at this time. So, if you want to get back in with Chase, I suggest waiting until the gas card you closed turns 24 months and then try applying again.

GL2U

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:

hey guys so i have a question, a couple years ago i had the 2 chase freedom cards (freedom and freedom unlimited). chase ended up cancelling cause (im assuming) i maxed out one card and had about 70-80% credit utilization on the other one, i continued to pay fine and finally paid them off. my score is also much higher than the past year becuse i've paid some other cards off.

i also have opened 5 cards in the last 2 years, but i have one card that's about to be 2 years old and i just cancelled about a 3 month old gas credit card with a low limit. my question is, is this safely inside the 2/24 rule by chase? and if i am able to get approved do you guys think i'll qualify for the intro promotions again like the $150 cashback and the 0% interest for xx months?

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IMHO, I don't think Chase will give you another CC especially if you just "recently" paid off the high balances and also due to prior banking relationship. But I could be wrong.

Also, since Chase's rule is 5/24 and you have opened 5 cards in the last 2 years, this disqualifies you from getting their product at this time. So, if you want to get back in with Chase, I suggest waiting until the gas card you closed turns 24 months and then try applying again.

GL2U

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thanks for the info, i do have one card that is 2 years old as of today so that brings me to 4/24. and yeah i figured because of the recent payoff i might not even be able to get one, but i was still thinking of trying just cause my open accounts will probably go up by a card or 2 and i wanted to just try and get the chase freedom now

[CreditInspired]

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@Anonymous wrote:

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@CreditInspired wrote:

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@Anonymous wrote:

hey guys so i have a question, a couple years ago i had the 2 chase freedom cards (freedom and freedom unlimited). chase ended up cancelling cause (im assuming) i maxed out one card and had about 70-80% credit utilization on the other one, i continued to pay fine and finally paid them off. my score is also much higher than the past year becuse i've paid some other cards off.

i also have opened 5 cards in the last 2 years, but i have one card that's about to be 2 years old and i just cancelled about a 3 month old gas credit card with a low limit. my question is, is this safely inside the 2/24 rule by chase? and if i am able to get approved do you guys think i'll qualify for the intro promotions again like the $150 cashback and the 0% interest for xx months?

---

IMHO, I don't think Chase will give you another CC especially if you just "recently" paid off the high balances and also due to prior banking relationship. But I could be wrong.

Also, since Chase's rule is 5/24 and you have opened 5 cards in the last 2 years, this disqualifies you from getting their product at this time. So, if you want to get back in with Chase, I suggest waiting until the gas card you closed turns 24 months and then try applying again.

GL2U

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thanks for the info, i do have one card that is 2 years old as of today so that brings me to 4/24. and yeah i figured because of the recent payoff i might not even be able to get one, but i was still thinking of trying just cause my open accounts will probably go up by a card or 2 and i wanted to just try and get the chase freedom now

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Then if you're set on applying, give them a call first and see what your chances are--whether you'll be automatically denied or not. At least this way you won't get a HP unecessarily

GL2U. Keep us posted.

[sjt]

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@Anonymous wrote:
The cards were the freedom unlimited and freedom they were opened around January 2017 and closed a few months later, but I never missed a payment and have never been late and paid them off. The other card that should be 2 yrs old is the cap one card which I got August 19, 2017. Now if I do qualify on a new chase freedom card do u think I will receive the intro promotions like the $150 Cashback? Cause if not it’d probably be better to just get an easier card that.

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Since you paid those two cards off with on-time payments, it should be ok. I would wait until 9.1.19 to apply, but I would first check to see if you have any pre-qual offers.