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Chase 5/24 rule

Established Member

Chase 5/24 rule

I Have applied and been approved for 4  cards within the last 24 months. I have also been added as an AU on my father's American express (which has been since closed when my father passed away). Does the AU count towards the 5/24, or do I need to wait before applying for a chase card? 

Message 1 of 26
25 REPLIES
Moderator

Re: Chase 5/24 rule


@Andypanda wrote:

I Have applied and been approved for 4  cards within the last 24 months. I have also been added as an AU on my father's American express (which has been since closed when my father passed away). Does the AU count towards the 5/24, or do I need to wait before applying for a chase card? 


Yes AU accounts count towards 5/24.  Best to get yourself removed first which may take you filing a dispute with the CRAs before it disappears

Message 2 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Andypanda wrote:

I Have applied and been approved for 4  cards within the last 24 months. I have also been added as an AU on my father's American express (which has been since closed when my father passed away). Does the AU count towards the 5/24, or do I need to wait before applying for a chase card? 


Yes, it accounts.  And unfortunately Amex AU is the hardest to get taken off the report.  Have you checked your report to confirm its still reporting?  You could try having it removed via dispute with the credit bureaus, but ymmv.



Message 3 of 26
Contributor

Re: Chase 5/24 rule

How does the AU count? Do Chase count it as the time the AU was added to your profile or do they look at the time the account was actually opened?



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Message 4 of 26
Moderator

Re: Chase 5/24 rule


@Civil wrote:
How does the AU count? Do Chase count it as the time the AU was added to your profile or do they look at the time the account was actually opened?

When it was added to your profile 

Message 5 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Civil wrote:
How does the AU count? Do Chase count it as the time the AU was added to your profile or do they look at the time the account was actually opened?

Amex is unique here. When you get added as an AU, the credit history starts on the date you are added, not the date when the card was opened.  Amex AU is a double whammy -- you don't get the full history as an AU (unless added the day the card was opened), and it can be very difficult to remove if needed.



Message 6 of 26
Valued Contributor

Re: Chase 5/24 rule


@Andypanda wrote:

I Have applied and been approved for 4  cards within the last 24 months. I have also been added as an AU on my father's American express (which has been since closed when my father passed away). Does the AU count towards the 5/24, or do I need to wait before applying for a chase card? 


Chase's algorithm will count the AU account towards the 5/24 rule.  However, if declined you can recon and the analyst will usually ignore AU accounts.






Message 7 of 26
Moderator

Re: Chase 5/24 rule


@dustinst22 wrote:

@Civil wrote:
How does the AU count? Do Chase count it as the time the AU was added to your profile or do they look at the time the account was actually opened?

Amex is unique here. When you get added as an AU, the credit history starts on the date you are added, not the date when the card was opened.  Amex AU is a double whammy -- you don't get the full history as an AU (unless added the day the card was opened), and it can be very difficult to remove if needed.


That has no bearing on Chase’s 5/24.  Even for creditors  that back date say 10 years, Chase still counts it within 5/24 if you were added within the past 24 months.  Also, while it may take filing a dispute to get rid of an Amex AU account, it’s not that difficult  I’ve done it twice and also had to do the same for other creditors as well.

Message 8 of 26
Moderator

Re: Chase 5/24 rule


@MaizeandBlue wrote:

@Andypanda wrote:

I Have applied and been approved for 4  cards within the last 24 months. I have also been added as an AU on my father's American express (which has been since closed when my father passed away). Does the AU count towards the 5/24, or do I need to wait before applying for a chase card? 


Chase's algorithm will count the AU account towards the 5/24 rule.  However, if declined you can recon and the analyst will usually ignore AU accounts.


I wouldn’t use the word ‘usually’ here.  It’s very much YMMV and many many people have been denied after recon for AU accounts.  Your best bet by far is to remove the account before applying 

Message 9 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Irish80 wrote:

That has no bearing on Chase’s 5/24.  Even for creditors  that back date say 10 years, Chase still counts it within 5/24 if you were added within the past 24 months.  

Are you sure about this?  Interesting.  I work closely with trade line companies that sell credit card AU lines.  The reason they don't sell Amex is specifically for this reason.  With non-Amex cards, from what I recall, it only shows the date the card was opened and the credit limit, not the date the AU was added.  This is quite interesting.

 

Edit:  I just confirmed this is inaccurate @Irish80.  When added as an AU, it only shows the date opened, not the date the AU was added (with Amex being an exception). Hence, if you have a card with a 2+ year history, you can add someone as an AU and it won't impact their 5/24 status.



Message 10 of 26