cancel
Showing results for 
Search instead for 
Did you mean: 

Chase 5/24

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Contributor

Chase 5/24

Hello, So my son only has ox publishing on his report. Will that effect chase 5/24 if i apply for a cap 1 card now or go for chase after the line turns 1yrs old
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
14 REPLIES 14
Moderator

Re: Chase 5/24

Did you mean your son applying for the Capital One card or you applying for the card on your own?
Message 2 of 15
Contributor

Re: Chase 5/24

No my son is applying only thing he has on his report is ox publishing an i was asking will ox publishing count towards chase 5/24. If it does he should just apply fpr a chase card before cap 1
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 15
Moderator

Re: Chase 5/24

If the tradeline displays as a Revolving type of account on any of his CRs, then yes it will count toward 5/24. Do you know if it's currently reporting on his CRs?
Message 4 of 15
Contributor

Re: Chase 5/24

Yes its reporting with
5% utilization
AAOA 4 Months
Paid on time.
I think ill just have him app for the cash freedom at the 1 year mark. You said the account counts towards chase 5/24.
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 15
Moderator

Re: Chase 5/24

Correct. While there can be outliers depending on an individual's profile, the general consensus + known DPs is that any revolving type of accounts count toward the Chase 5/24 restriction.
Message 6 of 15
Established Contributor

Re: Chase 5/24


@Liable0827 wrote:
No my son is applying only thing he has on his report is ox publishing an i was asking will ox publishing count towards chase 5/24. If it does he should just apply fpr a chase card before cap 1

Yes, it would count if it's a revolving credit account but honestly, I don't think that is the question you should be asking.  I think the question should be what chance he has to get approved by Chase with a very thin credit file.  If the (only) thing he has reporting is "Ox Publishing", IMO he might have better chances of a card besides Chase such as the Captital One you mentioned.  Some lenders (like Chase) like to see a little thicker credit file before they approve someone, even for an entry-level card.  Capital One and Discover are two of the easier cards to get with limited experience, unless perhaps he already has a banking account with a larger bank like Chase, Bank of America or Wells Fargo.  (It seems large banks make exceptions more easily for account holders in good standing.)  Or perhaps, a card with whoever he currently banks with, even if it's just a local credit union.  With a little more credit age and a few accounts, he stands a much better chance with the larger national banks and cards. 




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
Total Open Credit Lines Over $400K. Utilization Less Than 1%. Inquiries until May 2020 (TU:1 -- EQ:0 -- EX:5)
*Hover cursor over each card to see name, CL
Message 7 of 15
Contributor

Re: Chase 5/24

Ok so atleast one year of credit history with two revovling accounts before he apps with chase?
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 15
Valued Contributor

Re: Chase 5/24


@Liable0827 wrote:
Hello, So my son only has ox publishing on his report. Will that effect chase 5/24 if i apply for a cap 1 card now or go for chase after the line turns 1yrs old

You better get him on as an AU on one of your best CCs first.  Next is to get on with a CC with a relationship bank your family uses.  It is not good to go directly with Chase.  His/your chance is low to get approved.

Message 9 of 15
Established Contributor

Re: Chase 5/24


@Liable0827 wrote:
Ok so atleast one year of credit history with two revovling accounts before he apps with chase?

Yes, that is probably the minimum I would suggest.

The advice above was good.  (@ ) 

Add him as AU to one of your cards. 

Get a revolving major card (Visa/Mastercard/etc) in his own name from a bank you do other business with.

Let him build some payment history. He needs to use the card regularly to show responsibility and pay on time.

Next would be another national-branded card.  As I suggested earlier, besides AU or local bank/CU, he would have better chances with some smaller national players like Capital One or Discover before he applies for the larger banks like Chase.

After a year or more with other cards, and good scores, he would stand a good chance for an entry-level Chase card like Slate, Freedom, or Amazon. 




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
Total Open Credit Lines Over $400K. Utilization Less Than 1%. Inquiries until May 2020 (TU:1 -- EQ:0 -- EX:5)
*Hover cursor over each card to see name, CL
Message 10 of 15
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.