Chase 24/5 rule

[Remedios]

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@fatcomic wrote:

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@dragontears wrote:

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@fatcomic wrote:

Found out today:

If you have the Verizon Visa and you're at 5/24  AND Synch is not reporting on your Experian yet, you can slide in with Chase if they only pull an EX.    I was at 5/24 happily sitting in the garden, but Chase kept popping up a "You are already approved offer" on the app and the 80K SUB on the CSP got me, and I slid in under the 5/24 rule.  

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Are you saying that you got approved because they only pulled EX or that you were preapproved which is a known work around for 5/24?

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I assumed it was only becasue they pulled EX.  Maybe I was missing something with the pre-approval.  I thought 5/24 was the final say with Chase.  Well now I don't feel special anymore... 

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Chase soft pulls for many after CSP/CSR approvals  every two weeks for about eight weeks, depending on conditions set at approval (that's internal process, some may refer to it as flagging). 

You really cannot hide anything once it starts reporting, so don't apply for anything else and it should be fine. 

[BmoreBull]

I have been thinking about my strategy for next year, when my gardening is over. I want to add a ploc next year as well as a cc. I can't remember, but does Chase count the ploc against 5/24 ? Or is it only for new cc's ? Thanks. 

[coreysw12]

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@BmoreBull wrote:

I have been thinking about my strategy for next year, when my gardening is over. I want to add a ploc next year as well as a cc. I can't remember, but does Chase count the ploc against 5/24 ? Or is it only for new cc's ? Thanks. 

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My PLOC reports as a revolving account. I haven't verified yet, but from what I've read it sounds like that probably counts against 5/24.

[AlpedHuez]

Aren't there methods to bypassing the 5/24? 

For example applying with the prequalified "Just for you!" on Chase's website, getting a targeted prequalified mailer, or going into a physical branch to have them check for prequalified offers?

[coreysw12]

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@AlpedHuez wrote:

Aren't there methods to bypassing the 5/24? 

For example applying with the prequalified "Just for you!" on Chase's website, getting a targeted prequalified mailer, or going into a physical branch to have them check for prequalified offers?

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Ya, it's not a 100% surefire way to get around 5/24, but it certainly improves your odds of success if you have a preapproval.

5/24 was never a strict rule anyways, it's more like a tall hurdle that some profiles are strong enough to jump over, but most aren't. Having a pre-approval tends to lower the hurdle, but not necessarily get rid of it entirely.