Is there an internal limit on cards for Chase within 5/24?

[Anonymous]

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@CreditInspired wrote:

I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.

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It also depends on if the Chase account being opened is subject to the 5/24 rule.  Many of the co-branded cards like the Chase Amazon for example are not subject to 5/24.  People have been 30/24 and still approved for some of those Chase cards.

[Anonymous]

Heaven - That's good!

Freedom has $0/$1500
FU has $0/$1500
Ink Cash has $3,500/$12,000

We definitely wouldn't mind moving 5k over from the Ink Cash if needed. I would hope they'd do it automatically or call to ask rather than deny and hope to do it on recon.

We don't want to PC we definitely want the 80k bonus that's something that we would really like but after the bonus we will definitely be keeping that card for a few years though.

Also personal scores have improved a lot since applying for the Ink Cash too.

[CreditInspired]

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@Anonymous wrote:

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@CreditInspired wrote:

I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.

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It also depends on if the Chase account being opened is subject to the 5/24 rule.  Many of the co-branded cards like the Chase Amazon for example are not subject to 5/24.  People have been 30/24 and still approved for some of those Chase cards.

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Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

[Anonymous]

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@CreditInspired wrote:

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Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

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For sure.  I just learned about this myself a few months ago on this forum.  Today I apped for both the CSP and Chase Amazon.  I was at 4/24 at the start of the day so I apped for the CSP first, which brought me to 5/24 then apped for the Amazon second since it's not part of the rule.  Had I apped the other way around, it's possible that Chase would have denied my CSP app because internally they would know that I was at 5/24 with the addition of the Amazon account, even though it is still weeks or a month away from reporting.

[Anonymous]

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@Anonymous wrote:

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@CreditInspired wrote:

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Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

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For sure.  I just learned about this myself a few months ago on this forum.  Today I apped for both the CSP and Chase Amazon.  I was at 4/24 at the start of the day so I apped for the CSP first, which brought me to 5/24 then apped for the Amazon second since it's not part of the rule.  Had I apped the other way around, it's possible that Chase would have denied my CSP app because internally they would know that I was at 5/24 with the addition of the Amazon account, even though it is still weeks or a month away from reporting.

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I think that is the correct strategy (csp first) but their automated system is not that well 'connected' and many did get 2 '5/24 controlled' cards on a single day while at 4/24 so it will not automatically deny you due to 5/24 alone.

The actual risk appears to be getting denied for the 2nd card due to some other reasons and having to get a human on the phone to recon, said human might look at things closely and then shut your recon request down for 'too many accounts'.

[Anonymous]

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@Anonymous wrote:
Heaven - That's good!

Freedom has $0/$1500
FU has $0/$1500
Ink Cash has $3,500/$12,000

We definitely wouldn't mind moving 5k over from the Ink Cash if needed. I would hope they'd do it automatically or call to ask rather than deny and hope to do it on recon.

We don't want to PC we definitely want the 80k bonus that's something that we would really like but after the bonus we will definitely be keeping that card for a few years though.

Also personal scores have improved a lot since applying for the Ink Cash too.

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Though it should be obvious to anyone looking at recent DPs that Chase is tightening down, I'd still hazard a guess that there're (likely quite a bit) more to those 'All accounts closed simply for being at 3/24' stories.

Not sure how isolated is the business from you (EIN? different address or not even under your name? etc) or how much does the business depend on Chase (i.e. perhaps losing future possibility to deal with Chase doesn't matter at all to the business?), so you need to decide for yourself on the INK card.

 But either ways, if it's me I'd make it very clear to myself that 'needing a card without FTF for business spending on overseas purchasing' is different from 'would really like 80K UR points'.

[Anonymous]

For business they asked for EIN, SSN, phone, address.

Okay let me clarify, we already have a Travel card which has no FTF's however we feel that the benefits of the INK Preffered would be more beneficial for us, and that 80k UR would be very beneficial for our company.

$800 in products we buy we sell for probably $2,000.

So that $800 turns into $2,000 and an extra $2,000 is great.

I definitely would not want to forego any sign up bonus by PC'ing. I would rather wait until eligible because I could really use an extra $800 to $2,000.

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:

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@CreditInspired wrote:

I thought the 5/24 was for any 5 new CCs opened in a 24-month period. Please correct me if I'm wrong.

So, if I opened a NFCU Siggy, a CitiDC, a DiscoverIT, a Macy's, and a CapI, that would be considered 5/24 and "too many accounts opened." So in this scenario, Chase would not give one a new account.

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It also depends on if the Chase account being opened is subject to the 5/24 rule.  Many of the co-branded cards like the Chase Amazon for example are not subject to 5/24.  People have been 30/24 and still approved for some of those Chase cards.

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Thanks BBS. I wasn't aware that many of the co-branded didn't count in the 5. That's good to know.

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I think you might be confused here.  Chase cobranded cards do count in the 5 just as any revolving credit line does.  What BBS is trying to convey is that some of the Chase cobranded cards are not subject to the 5/24 rule which means that you can apply for those cards and not automatically be denied because of the 5/24 rule.  Just making sure you are aware of the difference.

[Anonymous]

That is correct.  An account opened in the last 2 years is an account opened in the last 2 years.  Chase doesn't care what type of account it is. 

As Irish just said, there are cards in the Chase lineup (many of the co-branded ones, for example) that one can obtain if they are already at or above 5/24.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Example: Person opens Freedom and CSP one week then a week or even a month later they open another Chase card. Then shortly after all are closed by Chase. I've read a few threads about this.

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Well, there are equal examples of people opening multiple Chase accounts at the same time and being OK.  I opened a CSP and Amazon both today... so I would hope that I don't see AA as a result.  I actually asked after opening the CSP first if I opened an Amazon a little later today if it would have any impact at all on the CSP and was told that it would not by two different CS people (one in person, one on the phone).  I'm sure those that have opened a lot of other accounts in relative close proximity would be under more of a watchful eye in this case, but who knows.

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Did you make it out with a single HP?