@VPExecutive wrote:
@Anonymous wrote:
@VPExecutive wrote:Chase ... 5/24 is made to prevent churning...
Someone who has "the inside" on Chase lending practices -- impressive.
Why else would Chase have the 5/24 rule.
A lot of reasons are possible, including to minimize exposure to churners. I'd also suppose to minimize exposure to agressive credit seekers. There's surely others.
I wouldn't presume to claim to have a definitive answer on something unknowable to me.
@Anonymous wrote:
@VPExecutive wrote:
@Anonymous wrote:
@VPExecutive wrote:Chase ... 5/24 is made to prevent churning...
Someone who has "the inside" on Chase lending practices -- impressive.
Why else would Chase have the 5/24 rule.
A lot of reasons are possible, including to minimize exposure to churners. I'd also suppose to minimize exposure to agressive credit seekers. There's surely others.
I wouldn't presume to claim to have a definitive answer on something unknowable to me.
I wouldn't say to prevent the approval of agressive credit seekers. You can just simply deny someone for too many inquiries.
5/24 is for anyone who's opened 5 or more cards over 24 months... Whether you have 5 inquiries or 50 during that time period.