Chase 5/24 Data Point

[Anonymous]

I appreciate the data pony as I mentioned. I'm just clarifiying the use of charge (which means pay in full each month) vs credit (which is not synonymous with major cc's only). The cards you said they wouldn't count are not charge cards, they're credit cards. Just not major (visa, mc, AmEx, disco).

[navigatethis12]

---

@Anonymous wrote:

I appreciate the data pony as I mentioned. I'm just clarifiying the use of charge (which means pay in full each month) vs credit (which is not synonymous with major cc's only). The cards you said they wouldn't count are not charge cards, they're credit cards. Just not major (visa, mc, AmEx, disco).

---

Some people, mostly old people in my experience, refer to store cards as charge cards. My parents sometimes do and I don't know if back in the age of Zeus when they were young if store cards had to be paid in full or not. When I got the Macy's card six years ago, the associate asked if I wanted to apply for a Macy's charge card. I agree with you that charge means in full every month, just saying what I've heard.

[UncleB]

---

@navigatethis12 wrote:

---

@Anonymous wrote:

I appreciate the data pony as I mentioned. I'm just clarifiying the use of charge (which means pay in full each month) vs credit (which is not synonymous with major cc's only). The cards you said they wouldn't count are not charge cards, they're credit cards. Just not major (visa, mc, AmEx, disco).

---

Some people, mostly old people in my experience, refer to store cards as charge cards. My parents sometimes do and I don't know if back in the age of Zeus when they were young if store cards had to be paid in full or not. When I got the Macy's card six years ago, the associate asked if I wanted to apply for a Macy's charge card. I agree with you that charge means in full every month, just saying what I've heard.

---

That brings back old retail memories, especially with the older people.  My favorite was after ringing up a large sale and (assuming it would not be cash) asking "will that be check or credit card?" and the reply would be, "Oh, no credit card, I'm going to pay for it". 

I always understood the meaning/technicality of the reply, but it still struck me as unusual... LOL

[SunriseEarth]

---

@Anonymous wrote:

I appreciate the data pony as I mentioned. I'm just clarifiying the use of charge (which means pay in full each month) vs credit (which is not synonymous with major cc's only). The cards you said they wouldn't count are not charge cards, they're credit cards. Just not major (visa, mc, AmEx, disco).

---

Store cards or PLCCs may be noted on CRs as "Charge card" or "charge account".   Major CCs or bankcards are noted on CRs as "credit card" or "flexible spending credit card".

[Anonymous]

---

@Anonymous wrote:

---

@neverrain wrote:

After speaking with a CSR and applying for the CSP, I was approved.  I obtained the following info from him:

The 5/24 rule applies only to credit cards, Visa, MC, Amex, Discover.  I had 6 total accounts opened in the last 2 years, 2 of which were charge accounts (one for Comenity and the other was CareCredit iirc).  They did not count against the 5 account rule.

I applied online and was instantly approved for $8.5k and the lowest APR available on the following scores/details (based on myFico 3B service):

EQ: 711

TU: 717

EX: 764 (Balance transfer hit this before I applied - I think they are pulling Experian for me.)

Utilization: ~20%

AAoA: ~7.5 years

Unfortunately, they denied my Slate --> Freedom PC.  I'm not sure why.  I'm cautious to aply directly for the Freedom, because I think I will be declined for the 5/24. The CSP would be my 5th card. =(

---

i think you're saying it only counts major credit cards and not store cards. Charge cards are like AmEx green/PRG/ platinum. Care credit and all the commenity cards I know of ARE credit cards, but they're not on the major networks. 

Thanks for for the data point. I've held out come hope that DH might be eligible (or at least eligible soon). Will have to do some counting again, and see what he's still showing as an AU for.

---

Just my novice two cents here, but care credit lists as a charge card  on my reports as does my JCP retail store card. All  my other cards are listed as credit cards.

[SunriseEarth]

Looks like I picked up quite a few major CCs in 2015....so I guess Chase will be out of reach until June 2017 for me.  

[UncleB]

---

@SunriseEarth wrote:

Looks like I picked up quite a few major CCs in 2015....so I guess Chase will be out of reach until June 2017 for me.  

---

Same here... I would be looking at early summer 2017, and that's if I apply for absolutely nothing between now and then, which is 'doable' but not likely. 

Once I get the score 'bump' when my last remaining baddie falls off this summer I plan to seriously look over my options, and I don't see Chase in the crystal ball... LOL.

[jeffery581]

5/24 ??

[SouthJamaica]

---

@neverrain wrote:

You're welcome!

I would love if someone could tell me if Chase cards (Slate/CSP) count against this 5/24 rule.  I very much want to pick up a Freedom card for point funneling, but I don't want the denial on a second hard pull.

---

Definitely Chase cards count against the 5/24 rule.

[Anonymous]

I forgot to say thank you OP for posting this data point. This is very pertinant info for me because I would like to apply for the Ink after I close on my house and rumour has it, Ink is going 5/24 in March. I'm also on my 4th card in 2 years if I count my closed Care Credit. Without it, I've only apped for 3.