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Chase Amazon Visa & 5/24? Data Points

macinjosh
Senior Contributor

Re: Chase Amazon Visa & 5/24? Data Points

Well, to give an update, my rejection letter stated I have too many recent inquiries. I don't know if I should try to recon it or not. At least its a new rejection reason, and not based on increased balances on my cards in the last few months.




Samsung Financing TD Bank $3,200


Message 61 of 65
dthaha
Valued Member

Re: Chase Amazon Visa & 5/24? Data Points

Approved for the card in November at 7/24. $3K SL. Nothing came up on the pre-qualifier.

Current Cards:

Sock Drawer:

Goal Cards:
Message 62 of 65
xenon3030
Established Contributor

Re: Chase Amazon Visa & 5/24? Data Points

Does Chase plan to ease slightly its 5/24 rule anytime soon?


Fico8: EX~EQ~TU~780 (12 month goal~840).
BOA (Custom Cash Rewards, Better Cash Rewards, Premium Rewards), Chase (CFF, CSP, Amazon), US Bank (Cash+, Altitude Go/Connect,Ralphs), Affinity CR, Discover, Amex (BCP, HH), Walmart/Cap1, Barclay View.
Message 63 of 65
KJinNC
Valued Contributor

Re: Chase Amazon Visa & 5/24? Data Points


@xenon3030 wrote:

Does Chase plan to ease slightly its 5/24 rule anytime soon?


I don't think they've made any statements about it.

 

My guess is that the message is getting through on cobrands. 5/24 has never made sense for cobrands. It is at odds with the purpose of a cobrand.

 

But, my guess is that they'll stick to it for core cards.


FICO Resilience Index: 59. Cards: 9/24, 3/12, 0/6. Accounts including loans: 12/24, 5/12, 1/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)


Authorized user / Corporate / Auto loans / Personal loan

Card CLs total $151,500, not counting the AU card. The AU card brings the total to $179,000. In 03/19, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, joined 1987, direct deposit; PenFed, joined 2019; Navy Federal, joined 2020; USAA, joined 2020; Chase Bank, joined 2020. Best: Coastal, worst: NFCU. I have had weird Keystone Kops customer service problems with NFCU several times, despite their reputation here.

Closed but still on reports: Discover, $3,100, 05/19-12/21; American Express Gold, NPSL, 08/19-06/21 | American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 64 of 65
longtimelurker
Epic Contributor

Re: Chase Amazon Visa & 5/24? Data Points


@KJinNC wrote:

@xenon3030 wrote:

Does Chase plan to ease slightly its 5/24 rule anytime soon?


 

 

My guess is that the message is getting through on cobrands. 5/24 has never made sense for cobrands. It is at odds with the purpose of a cobrand.

 


I'm not so convinced!   Yes, cobrands want people to get the card, but only if customers are really going to use it (unless Chase absorbs ALL the costs, so even $1 spend every 6 months brings say 1c in!)   Suppose that cutoff was 100/24, I think we would mainly agree that such a person probably isn't going to be spending much on a new card.   5/24 seems very low for people here, but in the wider world that's probably close to 100/24 here "Why would you need so many cards?"

Message 65 of 65
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