5/24

[jeffery581]

Could someone explain what the chase  5/24 rule is. Thank You.

[creditguy]

Chase will generally not approve you for one of their cards if you have opened 5 new accounts in the last 24 months. This rule does not apply to chase cobranded cards i.e. Disney, Marriott, Ritz. Etc. There have been exception reported especially with the Slate.

[Skye12329]

5 accounts in 2 years will get you an auto decline with the following chase credit cards: Freedom, Slate, Chase Sapphire Preferred. There have been a few threads where some has been able to prove the 5/24 rule to not be true.

[degs138]

Do any other banks have the 5/24 or the 4/24 rule.  Citi seems to be pretty stingy.  I haven't apped for Citi DC yet because of how stingy I hear they are.  A friend of mine had all 10-20k limits on cards with 760 scores.  Citi gave him a 5k DC limit.

[creditguy]

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@degs138 wrote:

Do any other banks have the 5/24 or the 4/24 rule.  Citi seems to be pretty stingy.  I haven't apped for Citi DC yet because of how stingy I hear they are.  A friend of mine had all 10-20k limits on cards with 760 scores.  Citi gave him a 5k DC limit.

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Not sure if anyone else has anything as specific as Chase's 5/24 rule, but yeah some banks do have their quirks, some are inquiry sensitive and some are new account sensitive, but as far as specific numbers? No one knows for sure. Citi can be very stingy depending on how they evaluate you, outside of being a citi underwriter I don't think anyone can say with certainty why they do what they do. 

[jeffery581]

Thanks

[red259]

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@degs138 wrote:

Do any other banks have the 5/24 or the 4/24 rule.  Citi seems to be pretty stingy.  I haven't apped for Citi DC yet because of how stingy I hear they are.  A friend of mine had all 10-20k limits on cards with 760 scores.  Citi gave him a 5k DC limit.

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I get average limits with citi. Usually around 10-13k per card. So they give me about half what amex and chase will give me. I have heard that they give even lower limits on the DC. Given that my approach will be to just PC one of my cards with higher limit to DC, instead of applying for it straight out. That way I get a DC with a someone decent limit. 

[Themanwhocan]

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@degs138 wrote:

Do any other banks have the 5/24 or the 4/24 rule.  Citi seems to be pretty stingy.  I haven't apped for Citi DC yet because of how stingy I hear they are.  A friend of mine had all 10-20k limits on cards with 760 scores.  Citi gave him a 5k DC limit.

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Citi gave me a 5.4K limit on my Premier. The day the card arrived I requested a CLI online and they increased it to $21.3K

So Citi may be a bit reluctant at first, but sometimes if you ask, you may receive...

[-Cal-]

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@Themanwhocan wrote:

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@degs138 wrote:

Do any other banks have the 5/24 or the 4/24 rule.  Citi seems to be pretty stingy.  I haven't apped for Citi DC yet because of how stingy I hear they are.  A friend of mine had all 10-20k limits on cards with 760 scores.  Citi gave him a 5k DC limit.

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Citi gave me a 5.4K limit on my Premier. The day the card arrived I requested a CLI online and they increased it to $21.3K

So Citi may be a bit reluctant at first, but sometimes if you ask, you may receive...

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Out of curiosity, was that CLI a SP or HP?

[OmarGB9]

^Probably HP since CLIs upon activation with Citi typically require a second HP.