What are these terms you all are using like 91/3 etc

[tpdtopcop]

In reading posts people are using all these terms and rules like 91/3. What does that mean?

[Anonymous]

hmm... 91/3 = you got approved for 91 new creditcards in a 3 month timespan. not likely to ever happen!

chase bank has a 5/24 rule. it means if you have aquired 5 cards within 24 months, then they will decline your application for a card.

bank of america has a 3/12 rule and a 7/12 rule. new BoA rules 

here's a list of abbreviations

[Anonymous]

I've never seen anyone say 91/3 before.  Maybe I missed that thread or threads?

[Anonymous]

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@tpdtopcop wrote:
In reading posts people are using all these terms and rules like 91/3. What does that mean?

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The 91/3 rule is specific to Navy Federal Credit Union.  It means that you must wait at least 91 days and 3 statement cuts after approval of a credit card before you can request a credit limit increase or apply for another NFCU credit card. More recently the recommend wait period has been extended to 180 days before requesting a CLI.

Other financial institutions like Bank of America have a 90 day rule regarding credit limit increase requests but don't require 3 statements to be generated.

[Remedios]

I believe that refers to NFCU policy about being able to ask for CLI and/or apply for second card after 91 days and 3 statements. Both conditions must be met.

[Remedios]

Darn, Maize. I was typing 😂

[tpdtopcop]

Thanks. And yes the 91/3 I was referring to was in a NFCU thread.

[StillKicking]

I'm glad you asked this. I started to search this yesterday, then got side tracked.

Thanks Maize & Remedios!