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?
 
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