Chase Sapphire Preferred and 5/24 rule

[Anonymous]

I am not really seeking input for this post. The purpose of this is to somewhat reaffirm Chase's 5/24 rule and one of the ways to bypass it. A bit of background on myself: Annual income is about 110,000. I rent and I owe about 2600 on my car and another 17,000 in student loans. TransUnion 754, Equifax 763. I have 8 new accounts in the past 19 months. Between all my credit cards (not including CSP), I have roughly 65,000.00 in credit. All but one are free of balances. I should also mention that I have a Chase checking account (since 2011) and a Chase Freedom Visa Signature card (since 2017). On 9/1/18, I applied for the CSP via an email invitation. I was aware of the 5/24 rule but decided to go for it anyway. I was not rejected instantly but received the 30-day email. When I called the automated application status check, I received the 5-7 day notice. On 9/7/18, I received the rejection letter (dated 9/3/18) with the sole reason being "too many credit cards opened in the last two years associated with you." No hard feelings, especially since Chase did not hard pull on my credit. On 9/10/18, I logged onto the Chase app to check on my Chase Freedom balance and I was surprised to see a green check mark offer for the CSP. I checked the terms/pricing and saw that it had an APR of 17.74% instead of an APR range so I went for it. I received an instant approval for a CL of $19,000.00 as well as a hard pull (-4 pts for TransUnion). So, the 5/24 rule is alive and well. However, one could argue that a (good) history with Chase and expressing an interest in the card (my original application) may influence an approval even if breaking the 5/24 rule.

[Anonymous]

Ask Sebby has a pretty good article about the rules with Chase.  A lot of the typical 5/24 cards can actually bypass that rule with In branch pre approval.

https://www.asksebby.com/blog/rules-to-know-for-chase-credit-card-applications

[EAJuggalo]

Don't know if it's still the case but when Chase implemented the 5/24 rule, all green checkmarks in the My Offers section bypassed it.  I received both my CFU and CSP while well over 5/24.

[SuperKirby]

The Chase 5/24 rule isnt an actual "rule". It's a collection of data points people put together via forums/blogs. Therefore Chase has never publish any sort of rule and plenty of people (although not a lot) have bypassed it.