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Chase 5/24 rule

Moderator

Re: Chase 5/24 rule


@dustinst22 wrote:

@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.


Those accounts that backdate still show the month they started reporting under history.  Chase can easily tell when you were added.   Is it possible that some slip thru the cracks?  Sure but lots of people have been denied for AU accounts older than 2 years credit history wise but only added to the applicants’ account within the 2 year period.

Message 11 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Irish80 wrote:

Those accounts that backdate still show the month they started reporting under history.  Chase can easily tell when you were added.   

This is inaccurate.  I just confirmed with a few reliable sources.  It goes by the history of the card, exept in the case of Amex.



Message 12 of 26
Moderator

Re: Chase 5/24 rule


@dustinst22 wrote:

@Irish80 wrote:

Those accounts that backdate still show the month they started reporting under history.  Chase can easily tell when you were added.   

This is inaccurate.  I just confirmed with a few reliable sources.  It goes by the history of the card, exept in the case of Amex.


Reliable as in people who sell accounts?  Right, I’ll take their word for it

Message 13 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Irish80 wrote:

Reliable as in people who sell accounts?  Right, I’ll take their word for it

No, actual reliable sources.  Feel free to do your own research on this.  



Message 14 of 26
Moderator

Re: Chase 5/24 rule


@dustinst22 wrote:

@Irish80 wrote:

Reliable as in people who sell accounts?  Right, I’ll take their word for it

No, actual reliable sources.  Feel free to do your own research on this.  


I have and I stand by what I said.  Chase,as can all other creditors, tell when you were added as an AU.. Very easy to do

Message 15 of 26
Community Leader
Valued Contributor

Re: Chase 5/24 rule


@dustinst22 wrote:

@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.


How did you confirm it? 

Message 16 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Remedios wrote:

How did you confirm it? 

I confirmed with a few experts in the field of tradelines and credit card churning.  AU tradelines show just as it would for the primary borrower, with Amex being the exception.



Message 17 of 26
Community Leader
Valued Contributor

Re: Chase 5/24 rule


@dustinst22 wrote:

@Remedios wrote:

How did you confirm it? 

I confirmed with a few experts in the field of tradelines and credit card churning.  AU tradlines show just as it would for the primary borrower, with Amex being the exception.


They show as such when you're looking at your own report

What lender sees includes a lot more information, and that includes the date account was added, not opened. 

Message 18 of 26
Frequent Contributor

Re: Chase 5/24 rule


@Remedios wrote:

@dustinst22 wrote:

They show as such when you're looking at your own report

What lender sees includes a lot more information, and that includes the date account was added, not opened. 


Perhaps, but what we're discussing is how the 5/24 rule is impacted.  Being added as an AU on a card that is 24+ months old does not impact 5/24 status, unless it's an Amex.



Message 19 of 26
Frequent Contributor

Re: Chase 5/24 rule

I’m not positive but I don’t think Chase counts AU’s period. JW what date does the AU show opened on your CR?
BB&T Spectrum Rewards, Discover IT, Capital One Platnium, Open Sky, Green Dot, NFCU Go Rewards - AU Citi Sears, Capital One Quicksilver, Amex Cash Magnet, Amex ED, Chase Sapphire Preferred, NFCU Plat, Chase FU

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575
Updated 11/2018







Message 20 of 26