I've moved on to helping my children build their credit profiles. They have thin files but scores in the high 700's. Not bad for 21 year olds. Anyhow, I came across Amazon Prime as I've done over the past few years. Decided to do the Prequalify for shi%s and giggles. To my surprise, it came back this time I was Prequalified. I hesitated for a few minutes while I did a little research on if these are solid or not since I've never received one before AND I'm way over the Chase 5/24 rule. Decided to go for it and BAM instant approval. Completely shocked by the instant approval AND limit! I pay in full so no worries on APR. Has Chase loosened the purse on Amazon Visa?
(Formerly known as: Credit is my hobby (2M)/TCL objective)
Yeah, the Prime Rewards card was the first crack in Chase's 5/24 wall. I think Amazon was upset that Chase was turning away customers who otherwise had good credit profiles but were over 4/24 and may have been looking (or threatening to look) at other banks to back their credit card. Chase caved and started approving folks who were 5/24 and more.
Congrats. Very nice SL.
EQ8 777, TU8 741, EX8 765 as of May 20
Congrats 🙌
@12njoy wrote:I've moved on to helping my children build their credit profiles. They have thin files but scores in the high 700's. Not bad for 21 year olds. Anyhow, I came across Amazon Prime as I've done over the past few years. Decided to do the Prequalify for shi%s and giggles. To my surprise, it came back this time I was Prequalified. I hesitated for a few minutes while I did a little research on if these are solid or not since I've never received one before AND I'm way over the Chase 5/24 rule. Decided to go for it and BAM instant approval. Completely shocked by the instant approval AND limit! I pay in full so no worries on APR. Has Chase loosened the purse on Amazon Visa?
That's not surprising, considering that their so-called 5/24 seems to be a way to gatekeep people from applying further beyond the 5/24 rule or is it possible that they decide to slowly and quietly abandoned the rul?
@mgood wrote:Yeah, the Prime Rewards card was the first crack in Chase's 5/24 wall. I think Amazon was upset that Chase was turning away customers who otherwise had good credit profiles but were over 4/24 and may have been looking (or threatening to look) at other banks to back their credit card. Chase caved and started approving folks who were 5/24 and more.
Congrats. Very nice SL.
Thanks all
@Janneman wrote:I have been on this site for many years, and I have personally never seen this card to under 5/24 rule....I have even seen many people getting approved for this card who were 24/24....So, 5/24 rule was never applicable to this card based on my personal observation over the years...
I believe there was a 5/24 rule or something similar for this card as ive tried for a number of years to no avail. The only consistency in my profile over those years was the continuation of adding new accounts.