5/24 rule for chase business cards

projectx

Level 2 Member
#3
Depends on the issuing bank of the business card, but generally no. For example, Chase's own biz cards do not count against 5/24, but Cap1 biz cards show on your personal report, and therefore do count toward 5/24.
 

JD101

Level 2 Member
#5
Chase Visa Signature Card (Business) was declined citing too many credit cards opened in last 2 years. I asked the rep how many and he said 8. Apparently they look at personal cards when approving for Business cards.
 
#7
To clarify the above, all credit cards count for 5/24 unless it’s a business card that does not show up on your personal credit report.

However, there are certain Chase Business cards that you can get like Southwest, CIP, and United that don’t take up a slot. Theoretically if you had five Chase business cards you would be 0/24 and you could get five personal Chase cards.
 

projectx

Level 2 Member
#11
I also keep a spreadsheet. I find it easier to track all cards opening date, closing date, date the bonus posted, annual fees, etc. I keep separate pages for my cards and my wife's in chronological order.
 

Zooter

Level 2 Member
Premium Supporter
#14
Is 5/24 rule applicable to chase business cards?
Chase Ink, United Business, and Southwest Business applications require you to be below 5/24 to be approved, but the new business card won't add to your 5/24 count for future Chase applications.

Chase Marriott Business Premier doesn't require you to be below 5/24 to be approved and also doesn't add to your 5/24 count.
 
#15
When I was rejected for my Chase Marriott Business Premier, they cited having too many cards opened (I only opened 4 since January, and the CSR in Aug 2016). Not sure how to interpret that.
In today’s climate, you need to space out Chase applications. I don’t know when you applied, but if you’re within 30 days of the application date I’d try recon again.
 

mec

Silver Member
#16
This was back in late Feb/Early March. I guess I'll just try again. Then again, adding all these HPs made my CS drop from 805 to 615. Barely back up to 660 after a month.
That shouldn't happen from an infinite number of hard pulls. There is a limit of ~6 hard pulls before your score is no longer affected. An underwriter may interpret a lot of hard pulls differently, but the score shouldn't be affected by any where near that much.

Where are you getting your credit scores?

You should look at your credit reports to find out what else changed.
 

Josh F

Level 2 Member
Charity Forum Mod
#17
That shouldn't happen from an infinite number of hard pulls. There is a limit of ~6 hard pulls before your score is no longer affected. An underwriter may interpret a lot of hard pulls differently, but the score shouldn't be affected by any where near that much.

Where are you getting your credit scores?

You should look at your credit reports to find out what else changed.
This is quite true. I'm guessing Very High Utilization?
 

knick1959

Level 2 Member
#18
I'll go ahead and extend this thread if you don't mind ... I guess it's too late if you do!

Do mailer offers typically bypass 5/24? Mind you, I'm talking about one I might acquire ... not one sent directly to my name. I haven't counted in awhile, and while my count is certainly coming down, I have to be at least 10/24. Have an Ink Cash acquired long ago as an fee card but downgraded but want (also) a new CIP.

I have no leads but thought I'd poke around. No use if it isn't going to help me tho. TIA!
 
#19
I'll go ahead and extend this thread if you don't mind ... I guess it's too late if you do!

Do mailer offers typically bypass 5/24? Mind you, I'm talking about one I might acquire ... not one sent directly to my name. I haven't counted in awhile, and while my count is certainly coming down, I have to be at least 10/24. Have an Ink Cash acquired long ago as an fee card but downgraded but want (also) a new CIP.

I have no leads but thought I'd poke around. No use if it isn't going to help me tho. TIA!
My understanding is that mailers do NOT bypass 5/24. If you are beyond 5/24, and receive a mailer for a card that is subject to 5/24, the fact that you received the mailer isn't going to make a difference.
 
#20
I'll go ahead and extend this thread if you don't mind ... I guess it's too late if you do!

Do mailer offers typically bypass 5/24? Mind you, I'm talking about one I might acquire ... not one sent directly to my name. I haven't counted in awhile, and while my count is certainly coming down, I have to be at least 10/24. Have an Ink Cash acquired long ago as an fee card but downgraded but want (also) a new CIP.

I have no leads but thought I'd poke around. No use if it isn't going to help me tho. TIA!
Nope. No sense in wasting a credit pull.
 
#22
My wife got under 5/24 on her cards, but not as an authorized user. This resulted in a manual review of her applications that resulted in initial approval, but a second set of eyes decided to flag her for having too much available credit and was not willing to switch it from the other 2 chase cards she had. I was shocked and disappointed after her restraint needed to get under 5/24 to not be approved despite having a legit business with 4 years of history and already having a marriott business card with Chase.
 
#23
My wife got under 5/24 on her cards, but not as an authorized user. This resulted in a manual review of her applications that resulted in initial approval, but a second set of eyes decided to flag her for having too much available credit and was not willing to switch it from the other 2 chase cards she had. I was shocked and disappointed after her restraint needed to get under 5/24 to not be approved despite having a legit business with 4 years of history and already having a marriott business card with Chase.
Same case with my wife. The agent said that my wife has too much credit and doesn't need more. I've written off Chase and would no longer be applying for their cards. The opportunity cost of 5/24 is too much.
 
#25
Does people here use a tool (such excel) to track open CC within 24 months of you check your credit report often?
Personally, I don't use excel. But that's probably because I usually hit sign-up bonuses one at a time so no need for organization.

I DO however keep a well maintained spreadsheet for bank account bonuses. I uaually open up 10 bank accounts every year for the purpose of the bonus, and the spreadsheet comes hugely in handy.
 
#26
I think excel is very useful. It lets you know which cards are ready to churn or how close you are to being able to PC a card. It has been extremely handy and I keep it in a locked note on my iPhone. One example of it being useful was this past weekend. I was at a JW for a wedding and realized I had the $60 off $300 AOs on a couple dozen cards but I hadn't brought most with me. I was able to go to the front desk, however, and read off the card numbers and buy gift cards. Saved a few hundred dollars by having this excel file on my phone.
 
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