@Sharingan wrote:The issue I see is that there are still a lot more stories of people being declined with more than 5 new of any kind of account than there are of those being approved with similar profiles (or being comprised of mostly store cards) after this criteria was established. A couple of anomalous anecdotal accounts to the contrary wouldn't inspire a lot of confidence for me. Would I still go on to apply or suggest to others that they should? Probably not. Are there those who ... slip through the cracks or satisfy a criteria not known to anyone here? Absolutely.
The number of people being denied by the 5/24 rule who have more than four non-store credit card accounts aren't really relevant here. The question is how many people are being denied under the 5/24 rule when they have four or less non-store cards and the only reason they would fall into the 5/24 category is because of store cards. I have seen people reporting in that situation of gettng approvals. I have not been seeing people saying that they were being denied solely for the 5/24 when store cards were being counted. I'm not saying it doesn't happen, but I just don't recall seeing those posts. If anyone has been denied because their store cards counted please post your datapoints, since it would be helpful for people like OP to know.
;
@red259 wrote:
@Sharingan wrote:The issue I see is that there are still a lot more stories of people being declined with more than 5 new of any kind of account than there are of those being approved with similar profiles (or being comprised of mostly store cards) after this criteria was established. A couple of anomalous anecdotal accounts to the contrary wouldn't inspire a lot of confidence for me. Would I still go on to apply or suggest to others that they should? Probably not. Are there those who ... slip through the cracks or satisfy a criteria not known to anyone here? Absolutely.
The number of people being denied by the 5/24 rule who have more than four non-store credit card accounts aren't really relevant here. The question is how many people are being denied under the 5/24 rule when they have four or less non-store cards and the only reason they would fall into the 5/24 category is because of store cards. I have seen people reporting in that situation of gettng approvals. I have not been seeing people saying that they were being denied solely for the 5/24 when store cards were being counted. I'm not saying it doesn't happen, but I just don't recall seeing those posts. If anyone has been denied because their store cards counted please post your datapoints, since it would be helpful for people like OP to know.
Actually, that's not the question at all. The query was for an admission from a Chase CSR on this topic, which I doubt (and haven't heard of) any explicitly state that Chase treats store cards any differently. I purposely left the first sentence broad to include any and all because I don't believe that they make a distinction, as I eloquently stated in my first post in this thread. Therefore, it is relevant to the point I made earlier. Like I said, there are significantly more people being denied for this rule than there are of those being approved with similar numbers of new accounts. If there are any exceptions, I don't believe it's because they do not 'count store cards,' but rather some other criteria not known. Historically, I don't believe that Chase has ever distinguished between store and bank cards, so that is why I don't believe there's a difference now... along with believing that it sounds kind of ridiculous.
The point I'm getting at is that I would consider other possible justifications for deviating approvals, rather than looking at a store card. That's all I have for this topic.
@Sharingan wrote:
@red259 wrote:
@Sharingan wrote:The issue I see is that there are still a lot more stories of people being declined with more than 5 new of any kind of account than there are of those being approved with similar profiles (or being comprised of mostly store cards) after this criteria was established. A couple of anomalous anecdotal accounts to the contrary wouldn't inspire a lot of confidence for me. Would I still go on to apply or suggest to others that they should? Probably not. Are there those who ... slip through the cracks or satisfy a criteria not known to anyone here? Absolutely.
The number of people being denied by the 5/24 rule who have more than four non-store credit card accounts aren't really relevant here. The question is how many people are being denied under the 5/24 rule when they have four or less non-store cards and the only reason they would fall into the 5/24 category is because of store cards. I have seen people reporting in that situation of gettng approvals. I have not been seeing people saying that they were being denied solely for the 5/24 when store cards were being counted. I'm not saying it doesn't happen, but I just don't recall seeing those posts. If anyone has been denied because their store cards counted please post your datapoints, since it would be helpful for people like OP to know.
Actually, that's not the question at all. The query was for an admission from a Chase CSR on this topic, which I doubt (and haven't heard of) any explicitly state that Chase treats store cards any differently. I purposely left the first sentence broad to include any and all because I don't believe that they make a distinction, as I eloquently stated in my first post in this thread. Therefore, it is relevant to the point I made earlier. Like I said, there are significantly more people being denied for this rule than there are of those being approved with similar numbers of new accounts. If there are any exceptions, I don't believe it's because they do not 'count store cards,' but rather some other criteria not known. Historically, I don't believe that Chase has ever distinguished between store and bank cards, so that is why I don't believe there's a difference now... along with believing that it sounds kind of ridiculous.
The point I'm getting at is that I would consider other possible justifications for deviating approvals, rather than looking at a store card. That's all I have for this topic.
I agree there should be a consideration of possible other causes for the deviation by Chase. I do not think the possibility that chase would distinguish between store and regular credit cards sounds ridiculous. I'm not saying they are because I don't think there is enough data to say conclusively either way, but I could totally see a reasonable argument where chase decided they would not count store cards on the theory that a store credit card would not necessarily be a card competing for chase's spend, except maybe at that particular store. Also, if this policy is designed to minimize bonus chasers I can see a thought process where Chase decides that people apping for store cards are not doing so to chase bonuses, but are doing so because they want a discount at a particular store. Chase wants customers and even if they want to limit bonus chasers I don't think they would be as inclined to turn away people who don't have many regular credit cards but have a few low limit store cards.
@Open123 wrote:Anyone have any indeas on whether or not Business TLs are counted in the 5 in 24? I'm assuming no, but wonder if anyone else has some insights.
Do you mean can you get a business card even if you have more than four in 24? If so, the answer seems to be yes as I have seen several reports of people being able to get business cards, some even after being denied for personal card for 5/24. If the question is do business cards count towards the more than fiour accounts in two months I think the answer depends on whether or not the TL is reporting to your personal credit report. Even then they may not count, but having a multiple business cards that do not show up on your report wouldn't trigger the denial since its based on new accounts not inqs.
@Anonymous wrote:The only TL that doesn't count is the Chase Co-Branded Cards (Southwest, Disney, Zappos, etc). Everything else counts.
Not sure what you are trying to convey here or which post you are responding to but this sounds wrong.
@kdm31091 wrote:Point is: if you want it, apply. No one on here can tell you if you will be 100% declined. If you are declined, it's one or two wasted HPs, and you try again later. Not a big deal.
All we can do by are anecdotes and the OP has to make an informed decision about whether to apply or wait.
+1 This about sums it up. The only thing I would add is if OP does want to app they would want to check to see if they would qualify for a CSP if the 5/24 rule was not applicable.