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Chase 5/24 rule does NOT include store cards

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Member

Chase 5/24 rule does NOT include store cards

I just got approved for the Chase Sapphire Preferred card, with 9 cards opened with in the last two years. How ever only 3 of them where actually credit cards and not store cards. From everything I have read, store cards count toward the 5/24 rule. Do you think Chase is lifting its restrictions, or did I just happen to slip through the cracks?

 

Amex Blue Cash opened March 2018

Citi Double Cash opened  March 2018

Citi Best Buy card opened May 2018

 

Overstock card opened June 2017

Conns synchroney card opened  May 2018

WalMart card opened June 2017

Home Depot Card opened June 2018

Lowes Card opened June 2018

Amazon Store Card opened July 2017

 

Then Chase Sapphire Preferred opened up April 2019

Message 1 of 8
7 REPLIES 7
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Moderator

Re: Chase 5/24 rule does NOT include store cards

A lot of these outcomes are YEMV. While various sources such as DoC, Reddit, FlyerTalk, etc., provide a very broad guidance on the ins-and-outs of the 5/24 restrictions, the majority of DPs and cases cite that retail CCs do count to an extent.
Not 100% of the time, but in a variety of reported cases they do.

By the same token, several DPs have been documented on bypassing the 5/24 restriction with branch pre-approved offers (or previously known alternatives) where if applied outright would likely result in a 5/24 decline.

So, the restrictions do not appear to be relaxed as a whole, it just varies on the individual profile plus other internal factors that Chase may consider for selectively expanding their customer base.
Message 2 of 8
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Member

Re: Chase 5/24 rule does NOT include store cards

Just posted about my experience in the Credit Card Apps Forum. For me it was:

Pottery Barn 6/2018
Discover 12/2018
Amex Gold 12/2018
Amex Delta 12/2018
BofA Travel Rewards 12/2018
Chase Southwest Denial 12/2018
Macy’s 1/2019
Chase Amazon 3/2019
Citi 4/2019
Chase Southwest 4/2019

My first denial was probably irrespective of the 5/24 rule and the Citi wasn’t being reported yet for my recent approval. So maybe the store cards didn’t count?
Message 3 of 8
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New Contributor

Re: Chase 5/24 rule does NOT include store cards


@Jaywal83 wrote:

I just got approved for the Chase Sapphire Preferred card, with 9 cards opened with in the last two years. How ever only 3 of them where actually credit cards and not store cards. From everything I have read, store cards count toward the 5/24 rule. Do you think Chase is lifting its restrictions, or did I just happen to slip through the cracks?

 

Amex Blue Cash opened March 2018

Citi Double Cash opened  March 2018

Citi Best Buy card opened May 2018

 

Overstock card opened June 2017

Conns synchroney card opened  May 2018

WalMart card opened June 2017

Home Depot Card opened June 2018

Lowes Card opened June 2018

Amazon Store Card opened July 2017

 

Then Chase Sapphire Preferred opened up April 2019


Thanks for sharing, very interesting.  I'll keep my eyes open for others sharing similar stories.  I'm in the garden now because I won't meet the 5/24 criteria until Mid year 2020. Congrats on your Chase Approval

Credit is a lot like a Reputation....It takes 20 years to build it and five minutes to ruin it. If you think about that, you'll do things differently.





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Message 4 of 8
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Senior Contributor

Re: Chase 5/24 rule does NOT include store cards

OP, how did you apply for the CSP?  Was it a cold app or did you have a pre-approval?





Message 5 of 8
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Member

Re: Chase 5/24 rule does NOT include store cards

I applied through nerd wallet , it was showing that I was pre approved. The chase site was not showing any pre approvals for me though.

After I applied I got a message saying they needed more time. I called and they had me verify my number, and then told me they would let me know in a couple weeks of a decision. It took them a week, I was calling the app status line everyday checking, it was giving me the 30 day message, then it said i was approved.

Message 6 of 8
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Member

Re: Chase 5/24 rule does NOT include store cards

I got my card in the mail today with a SL of 16,500, I was shocked. I was expecting the minimum 5,000 sl since my scores are in the 

680's and 690's. I'm not complaining the lol

Message 7 of 8
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Community Leader
Mega Contributor

Re: Chase 5/24 rule does NOT include store cards

I wouldnt bet the farm they dont count. They are still credit cardsSmiley Wink
Message 8 of 8
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