New accounts (5/24) question

[805orbust]

Hey, I swear I can remember discussing this previously but I cant for the life of me remember.  When we talk about 5/24 or 4/24 or 1/12, does this apply only to Cc accounts or are installment/auto loans counted?  Completely drawing a blank... must be that time of year... for a dopamine inducing app spree 🤣🤣

[Anonymous]

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@805orbust wrote:

Hey, I swear I can remember discussing this previously but I cant for the life of me remember.  When we talk about 5/24 or 4/24 or 1/12, does this apply only to Cc accounts or are installment/auto loans counted?  Completely drawing a blank... must be that time of year... for a dopamine inducing app spree 🤣🤣

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Starting to sound a lot like @credit_is_crack or @woodyman100    ... throw a bone out and they are on it like flys on fly paper 

[805orbust]

🤣🤣🤣  @Anonymous  too bad that name is taken already! 

[Anonymous]

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@805orbust wrote:

🤣🤣🤣  @Anonymous  too bad that name is taken already! 

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Yeah ... folks can just "eat their heart out" ... 

Note, been around since 2008 on this Forum! 

As an add ... learn something new virtually everyday. Unlike the 1960's to the early 1990's where things were more paper driven and not much finance/credit innovation, today is a whole new world!  

[woodyman100]

Guilty!

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@Anonymous wrote:

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@805orbust wrote:

Hey, I swear I can remember discussing this previously but I cant for the life of me remember.  When we talk about 5/24 or 4/24 or 1/12, does this apply only to Cc accounts or are installment/auto loans counted?  Completely drawing a blank... must be that time of year... for a dopamine inducing app spree 🤣🤣

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Starting to sound a lot like @credit_is_crack or @woodyman100    ... throw a bone out and they are on it like flys on fly paper 

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[805orbust]

Tell me about it,  if I didn't have y'all and this forum I'd be completely in the dark!  Feeling the gratitude this morning. 

[FinStar]

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@805orbust wrote:

Hey, I swear I can remember discussing this previously but I cant for the life of me remember.  When we talk about 5/24 or 4/24 or 1/12, does this apply only to Cc accounts or are installment/auto loans counted?  Completely drawing a blank... must be that time of year... for a dopamine inducing app spree 🤣🤣

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It depends on the lender. Chase typically excludes installment, student, vehicle, mortgage loans in most cases. But, they count personal lines of credit, ODLOCs and some HELOCs based on a variety of DPs. Other lenders like Barclays and Capital One include everything, for instance. USB can be hit or miss. So, the 5/24, 4/24, 1/12 (or applicable) restrictions are not universal across all lenders who use it.

[805orbust]

Gotcha @FinStar , many thanks 

[SouthJamaica]

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@805orbust wrote:

Hey, I swear I can remember discussing this previously but I cant for the life of me remember.  When we talk about 5/24 or 4/24 or 1/12, does this apply only to Cc accounts or are installment/auto loans counted?  Completely drawing a blank... must be that time of year... for a dopamine inducing app spree 🤣🤣

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I assume you're talking about Chase.

Just revolving accounts. PLOC's are included. Instalment loans are not.

[805orbust]

@SouthJamaica Gotcha.  Thanks for the clarity.  I was kind of looking for both so as always I appreciate you clearing it up.  Not looking to poke the Chase bear anytime soon, however I just grabbed that BHG More that you got recently for some spend coming up and to "thicken up" the profile on one of my S-Corps and was tryna figure out where I was at while looking at what to apply for. 

The great thing is that the business account doesn't show up on personal so I won't have to worry about it in 12-18 months when I plan on taking out a new mortgage.  Really the only thing that'll show is that idiotic US Bank Platinum that I wasted my time on back in October but whatever.  DW and I are both in the 730's to 740's on our mortgage scores so It's just crumbs at this point.