24 month rule
- Thread starter thedrills
- Start date
notwealthy
Level 2 Member
How many credit accounts have you opened in the past 24 months?
For Chase 5/24 rule, it's no more than 5 new accounts (from ANY bank) opened in the past 24 months.
I haven't seen any data points of people reliably being able to get around the rule for Chase personal UR cards like the CSP, so you might be out of luck. You could try establishing a banking relationship with Chase, get to know the person in-branch who handles credit applications, and then apply in-branch? As with most of these CC things, YMMV.
For Chase 5/24 rule, it's no more than 5 new accounts (from ANY bank) opened in the past 24 months.
I haven't seen any data points of people reliably being able to get around the rule for Chase personal UR cards like the CSP, so you might be out of luck. You could try establishing a banking relationship with Chase, get to know the person in-branch who handles credit applications, and then apply in-branch? As with most of these CC things, YMMV.
I've asked a credit rep on the phone straight out about the 5/24 rule and they said that there is no such thing. unless its being enforced more now than it was at that point in time...
The reason I was told after calling the chase recon team (on multiple occasions) is that the reason I was being denied is because I had the promo within the last 24 months and if I applied after 1/20 theres no reason I shouldnt get approved (assuming the rest of the credit check is ok)
The reason I was told after calling the chase recon team (on multiple occasions) is that the reason I was being denied is because I had the promo within the last 24 months and if I applied after 1/20 theres no reason I shouldnt get approved (assuming the rest of the credit check is ok)
notwealthy
Level 2 Member
5/24 has been enforced pretty liberally since last May. Lots of data points on FT.
I mean, if that's the reason they gave you in recon, why don't you just wait a few more days until 1/20 to apply? That seems like the easiest solution (no sense in jumping hoops or anything if it's only a few days away! It's not like the 50k offer is expiring...)
I mean, if that's the reason they gave you in recon, why don't you just wait a few more days until 1/20 to apply? That seems like the easiest solution (no sense in jumping hoops or anything if it's only a few days away! It's not like the 50k offer is expiring...)
5/24, if such a thing exists, only applies to Slate, Freedom and CSP
I've never had an issue with the 24 month rule and have gotten second bonus on a few cards by waiting the requisite 24 months
The key point is that its 24 months from the bonus award date, not from opening
How I do it is this - I keep the paper statement from when Bonus #1 posts, and I use the end-date of that statement as the date from which I count 24 months and then apply for Bonus #2
So thedrills, I'd wait a month, try again and see what happens
I've never had an issue with the 24 month rule and have gotten second bonus on a few cards by waiting the requisite 24 months
The key point is that its 24 months from the bonus award date, not from opening
How I do it is this - I keep the paper statement from when Bonus #1 posts, and I use the end-date of that statement as the date from which I count 24 months and then apply for Bonus #2
So thedrills, I'd wait a month, try again and see what happens
@PghRocks I have to see when I want to apply. I want to get the SP while its still 50K and I was told by recon that the date in their system is 1/20. Im not sure what the date is exactly because I opened my card 1/5/14 and didnt meet the spend till about the 28th. I got the bonus on my 1st statement. I dont want to have another hard pull so close to my previous and have it also go for naught
suljaga13
Level 2 Member
I think 5/24 rules is enforced at the highest. I personally applied for chase saphire by actualy going to the branch. The banker pleaded case for me, even called reconsideration line for me after getting denied. They said too many cards in last 2 years. What are they talking about, I only opened 17 in last 2 years. Go figure.
On one hand, I wouldn't not believe the date that they told you. I know CSR's can screw stuff up but reading a date off a screen doesn't seem like one of them. I would pull up that statement, see when it closed and apply after that date.
As for hard pull concerns, you're talking to the wrong guy. I've yet to be convinced that they matter, like at all, when dealing with Chase & Citi and maybe even AMEX. They only seem to be a problem for the less important (to me, at least) banks like BOA, TD, etc.
Allen Chung
Level 2 Member
I'm pretty sure the Ink is immune to 5/24. I haven't heard a lot about people actually getting around it.
jackconcarne
New Member
To be clear - the rule is you can't have "more than 5" cards opened in the last 24 months, as opposed to "5 or more", correct? The blogs seem to have a lot of contradictory information here.
It's possible that the "rule" is more of a guideline, to quote Captain Jack Sparrow. If you're sitting on 5 and wondering if you'll be approved, I don't think anyone other than Chase can tell you what's going to happen.
How long until you fall from 5 to 4? Is that time longer or shorter than the time you fall from 4 to 3? Depending on this info, it might make sense to go for it now or to wait.
jackconcarne
New Member
I don't fall to 4 until August, so it isn't really waiting for me. I figure I might as well risk the hard pull and see what happens.
TravMomof2
Silver Member
I'm sure you've all heard, by now, that both the Ink and all co-branded cards will soon come under the same 5/24 rule. Supposedly the Ink will start around March and all other co-branded will start around April.