@CreditInspired wrote:
I do think loans count toward 5/24. Just found out myself last week that CLOC counts so thinking it’s the same. Someone will be along shortly to confirm if this is correct.
At this point, I've pretty much just written off Chase for that very reason. They have some pretty nice credit cards, but not nice enough for me to essentially forgo everything else for two years just to get one. I have a lot going on financially between my personal and business accounts. So a lot of credit card churn (rolling over to new credit cards for zero interest). Also with a large family with five vehicles (kids in highschool and college) I typically have at least one new auto loan or lease a year. Not to mention I purchase property a couple times a year to fix up and resell.
So there will NEVER be a time I have less than 5 new accounts in two years, heck i would be a slow period if I have less than 5 new accounts in a six month period.
@Dervrak wrote:
@CreditInspired wrote:
I do think loans count toward 5/24. Just found out myself last week that CLOC counts so thinking it’s the same. Someone will be along shortly to confirm if this is correct.At this point, I've pretty much just written off Chase for that very reason. They have some pretty nice credit cards, but not nice enough for me to essentially forgo everything else for two years just to get one. I have a lot going on financially between my personal and business accounts. So a lot of credit card churn (rolling over to new credit cards for zero interest). Also with a large family with five vehicles (kids in highschool and college) I typically have at least one new auto loan or lease a year. Not to mention I purchase property a couple times a year to fix up and resell.
So there will NEVER be a time I have less than 5 new accounts in two years, heck i would be a slow period if I have less than 5 new accounts in a six month period.
LOL! Ok folks. Your going to love this....minutes after I posted this response I went to the chase site. I hadn't tried to get a Chase card for several years. Because I knew I was over the 5/24 rule (probably more like 15/24). So I went for broke and put in an app for the Chase Sapphire Preferred figuring hey, what's one more hard hit going to hurt. The result:
So it appears the 5/24 rule is NOT a hard and fast rule after all....
@Dervrak wrote:
@Dervrak wrote:
@CreditInspired wrote:
I do think loans count toward 5/24. Just found out myself last week that CLOC counts so thinking it’s the same. Someone will be along shortly to confirm if this is correct.At this point, I've pretty much just written off Chase for that very reason. They have some pretty nice credit cards, but not nice enough for me to essentially forgo everything else for two years just to get one. I have a lot going on financially between my personal and business accounts. So a lot of credit card churn (rolling over to new credit cards for zero interest). Also with a large family with five vehicles (kids in highschool and college) I typically have at least one new auto loan or lease a year. Not to mention I purchase property a couple times a year to fix up and resell.
So there will NEVER be a time I have less than 5 new accounts in two years, heck i would be a slow period if I have less than 5 new accounts in a six month period.
LOL! Ok folks. Your going to love this....minutes after I posted this response I went to the chase site. I hadn't tried to get a Chase card for several years. Because I knew I was over the 5/24 rule (probably more like 15/24). So I went for broke and put in an app for the Chase Sapphire Preferred figuring hey, what's one more hard hit going to hurt. The result:
So it appears the 5/24 rule is NOT a hard and fast rule after all....
Congrats on your approval! When you say you're over 5/24, what are all the new accounts? If they're loans and not revolving lines of credit they should not count toward 5/24. It's debatable if even CLOCs/HELOCs count, but credit cards definitely do. Remember that 5/24 exists as an anti-churning tactic, and people don't churn CC rewards by getting car loans. 
Congrats on your approval! When you say you're over 5/24, what are all the new accounts? If they're loans and not revolving lines of credit they should not count toward 5/24. It's debatable if even CLOCs/HELOCs count, but credit cards definitely do. Remember that 5/24 exists as an anti-churning tactic, and people don't churn CC rewards by getting car loans.
Well...let me look at my credit report and see...
New Accounts (Equifax between August 2017 and August 2019):
Bridgecrest (Auto Loan) May 2019
Wells Fargo (HELOC) Apr 2019
BB&T (Mortgage) Jan 2019
BBVA Compass (Credit Card) Jan 2019
Capital One (Credit Card) Jan 2019
Syncrony Bank- Lowes (Credit Card) Oct 2018
BB&T (Credit Card) Sep 2018
Mercury (Credit Card) Sep 2018
Ally Financial (Auto Loan) May 2018
BB&T (HELOC) Nov 2017
Suntrust (Mortgage) Oct 2017
BB&T (Auto Loan) Sep 2017
Now that I look at it, if the 5/24 rules is only counting credit cards, my approval would make sense as I am at exactly 5. They must not look at anything else though. I think we can safely rule out they look at any other type of new credit accounts or credit line increases (as I have had dozens of those over that period).
@Dervrak wrote:
@Dervrak wrote:
@CreditInspired wrote:
I do think loans count toward 5/24. Just found out myself last week that CLOC counts so thinking it’s the same. Someone will be along shortly to confirm if this is correct.At this point, I've pretty much just written off Chase for that very reason. They have some pretty nice credit cards, but not nice enough for me to essentially forgo everything else for two years just to get one. I have a lot going on financially between my personal and business accounts. So a lot of credit card churn (rolling over to new credit cards for zero interest). Also with a large family with five vehicles (kids in highschool and college) I typically have at least one new auto loan or lease a year. Not to mention I purchase property a couple times a year to fix up and resell.
So there will NEVER be a time I have less than 5 new accounts in two years, heck i would be a slow period if I have less than 5 new accounts in a six month period.
LOL! Ok folks. Your going to love this....minutes after I posted this response I went to the chase site. I hadn't tried to get a Chase card for several years. Because I knew I was over the 5/24 rule (probably more like 15/24). So I went for broke and put in an app for the Chase Sapphire Preferred figuring hey, what's one more hard hit going to hurt. The result:
So it appears the 5/24 rule is NOT a hard and fast rule after all....
Congrats! If you want, you can always call the CS line to get your card expedited for free.
I signed in for credit joruney in the last year. I can see my updated credit reports in that page but the offers part seems to be not working well. Here is the situation:
Credit journey site --> offers section --> explore new products --> find the right card for you --> press "learn more" button.
After doing these steps, another page opens going to creditcards.chase.com while the user is not signed in. The offers in this page do not have a fixed APR and do not seem to be personalized offer.
I used different browsers and going to mobile app and same result.
Is there an issue with setting up the credit journey website? Shall I call customer service or visit a branch to figure it out?
I have two recent personal loans (secured/unsecured) but based on the comments above, they should not be counted along 5/24.
Fico8: EX~EQ~TU~840 (12 month goal~850).