The Chase 5/24 Rule Explained | Everything You Need to Know (2022)
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- Äas pĆidĂĄn 2. 06. 2024
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Timeline
0:00 Start Here
0:40 What is Chase 5/24
3:58 FAQ
6:24 Why Does Chase 5/24 Matter?
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Everything is going up. Chase, how about making it 6/24?
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Yes please đ©
they would do the opposite and make it a 4/24
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12/24 to be more precise đ
I thought that â5â was solely Chase cards⊠hmmm ok learned something new today
I was declined by Chase for Southwest Priority card as I already got 6 cards in 24 months, among which 2 were by Chase in past 12 months. I called reconsideration line and asked to move excess credit from my Prime Card to Southwest Card to get approved, and dang... I got approved!! Even with 6/24 đ
Great Video Sebby! This information was really helpful đđŒ
Me: Im feeling lucky today!
Sebby: Chase's algorithm will reject you!
If you ask a Chase Banker "What is 5/24 and they answer 'Um, about .208333' know that they are from the finance department and did the division! Awesome channel Sebby! A great and clear explanation of the Chase 5/24 rule. Subbed and thumbs up!
Iâm getting under 5/24
NO
MATTER
WHAT đ
Ha! How long until then?
@@AskSebby - About 2 months đŹ
The Mark Reese 5/24 bypass -> product change that Boundless, itâs Ritz time
@@ryansebers396 - Oh yeah đđ
I am 2 weeks away from being under 5/24. Cannot wait to get the CSP!
just got approved for the CSP yesterday ! Gonna keep it for about 3-4 months then apply for AmexGold đđŸ
Got approved last week and it just got here in the mail today!
Thanks for the information Sebby
Great vids Sebby, Thank you!!! Learn something new every time I watch AskSebby. In other words, get all 5 or 6 Chase cards first then the rest...I would do it in this order....CFU, CFF, CSP/CSR, CIC, CIU, CIP, then you'll still be 3/24
Thank you, as always, Sebby
Another great video & lesson.
Sebby with the call out! Love it! But for real, thank you!
Awesome video, thanks.
I just got out of 5/24. I kinda wish I got the CSP before that. Great video!
Thank you for the information
Iâm very excited to be back under 5/24 right now! Great informational video here Sebby đ
What's your next card of interest Dan?
@@sjg6158 Gonna be the Chase Business Ink Unlimited most likely!
Good video. Answered my questions about the role that mortgage and other loans etc., play in 5/24.
Havenât logged in like forever. Digging the new background.
"Even if they are closed" is definitely something to keep in mind. I recently closed a few newer accounts that I don't use since I already have many accounts that are several years old, but I'm still not eligible due to the 5/24. I've been holding off on new cards (except for that new Wells Fargo Active cash due to the bonus and I kind of wanted a Wells Fargo), but I'm looking forward to starting a relationship with Chase when I'm eligible.
You saved me a hard inquiry because I never even considered that closed accounts would be factored into the rule.
Sebby ROCKS!!!!! I was not sure if a CHASE business or retail card should be my first in Feb 2022 but this great video told me business card first then in june the FLEX or UNLIMITED :)
Chase is missing the marketing goldmine that is 7/24
I learned about this from Sebby right after I had exceeded the 5/24 rule in 2019, when I was rejected by Chase. I waited patiently, and just got the Chase Freedom Unlimited (1st one in the trifecta). I'm on my way. Thanks Sebby!
I got a Freedom Flex, my first Chase card, in May. That was #5 in my 5/24. Actually I was about 5/6. So it'll be a while before I can get another Chase card.
How long after the rejection did you wait to reapply?
@@fbx03 I waited until I had cleared the 5/24 rule. when my anniversary date of maturity came (dropping below 5 cards, I reapplied about 30 days after to let the reporting agencies catch up.
Thank you, Thank you , Thank you
Darn Chase for keeping me responsible with my new accounts. The rule certainly makes me more strategic while chasing bonuses
I like you, the way you talk and explain.
Excellent video explaining this! I am currently at 4/24 and going to be completing my trifecta with Chase soon! I absolutely can't wait!
Hey Sebby, Long time fan. I just wanted to correct you, it's just not 5/24 credit accounts but also Car leases. Chase rejected me on Flex after me having 4 credit cards opened in the last 24 months and also 1 car lease. I had applied for Flex which was my 3rd card with Chase along with Freedom and CSR. I wasn't rejected immediately, I got a 30-day message and then got rejected for too many new accounts. Just a heads up for others like my position.
After learning about the benefits of the Ritz Carlton card I decided to get under 5/24. I plan to apply for the Boundless card and then (hopefully) product change in a year.
Applied with paper application for CIP with a business banker. Over 5/24. Approved for 100k bonus
iTâs PASSIVE AGGRESSIVE Avenger đ nope great video
1/24-CFF
2/24-CSR
3/24-Boundless
4/24-SW Priority
Then I will try and MDD the new Aeroplan MC and one of the United Cards after I go through a couple Chase Biz cards.
Hey Sebby! Data point: I was just instantly approved for a United Explorer card at 9/24. They must be relaxing the 5/24 rule for some cobranded cards. But I hear mixed outcomes. YMMV
Amazon Prime too and the SW card. Does not apply.
I currently have 4 credit cards. 2 Capital One cards, 1 Discover and 1 Amazon Store card. I plan to get a Chase Freedom Unlimited next, followed by an Amex. Thanks for confirming some thoughts I had.
Many retailers offer pay in 4 plans (Afterpay/Klarna/Paypal etc) during checkout. Do those count as financing?
I'll be testing the line of credit next month. I have one with a local credit union and on two reports it's listed as a loan, but for the other it's a credit card.
For me, its the Hyatt and United cards, and the Chase Ink Preferred and Chase Ink Unlimited - amazing video as always
Love how you're like THE professor answering FAQs and it being a lesson all throughout đ
Thank you :)
- as a college professor, i concur! excellent class, i mean video!
Iâm gonna be at 4/24 in October and I already have my Chase Ink Cash application pretty much filled out.đ
Chase questioned me about a Toyota car loan 14 months ago when I applied for a Business card.
I didn't know this! Thanks for teaching me something new!
Hello! What about getting the just for you offers while being over 5/24?
Thanks, Sebby, for reviewing 5/24 for the newbies in this game. I already liked the video before I even watched it đ. Sharing this to The Credit Society and will make sure they like and subscribe.
Thanks! :)
Can I apply for another 5 cards after the first 5/24? Is that possible?
I got all my chase cards first, now I'm going LOL/24 and P2 is picking up the Chase cards.
How long should I wait to apply for a CSP if I just got an AMEX Gold? I have only one other card, CO Quicksilver that Iâve had for almost 2 years. Iâm trying to build my credit (itâs 710 and wonât move. Iâd like to get it up to at least 740 in the next 6 months). Advice? I probably should have tried for CSP first, but was afraid Iâd get denied.
I got approved for the CSP 5 days ago but itâs my 5th card. I want the the Freedom Flex and donât want to wait? Youre saying I can bypass the 5/24 rule if I apply now before it shows up on my report?
I will finally be under 5/24 in November, but i already hold 7 chase cards (Business & personal). I really want to pick up a Hyatt card, but gunshuy to apply with chase. My last call took several reconsideration calls and a credit limit transfer.
Hey Sebby. I just opened 3 chase accounts. 1 personal checking , personal saving and 1 business checking. The sales rep that helped me to open my accounts suggested that I apply for the chase business Ink. He said, I was pre approved but he couldn't confirm if getting the business card before applying for the personal card wouldn't affect my 5/24. I only have 2 personal cards. I do need to start my business credit history and purchase operating equipment but my current credit card utilization is about 5,000.00 which is roughly 18%. I held held off on apply for the business ink until i lower my utilization to about 8 %. Curious as to what your thoughts are in my situation. Thanks
5/24 still a rule Iâm at 6/24 and wasnât approved, will call the reconsideration line once I get my letter đ©
Amazing content! Can you please make a video or blog post about downgrading cards and limitations?
Is it less likely to get approved for a chase business card if you are at 4/24?
If I'm under 5/24 and I have an amazon prime chase card that I don't care about keeping. Can I changing it to Bonvoy boundless or Hyatt and still get the sign up bonus?
I was fortunate to get the Chase Sapphire Preferred and United Explorer before reaching 5/24 years ago. I'm currently in "gardening" mode until I close on my house (new construction), bu which point I should be out of 5/24 again! đ
Do you have any videos about wells cargo credit cards ?
If I have two Chase Marriott cards do I earn 15 or 30 elite night credits toward higher status?
Hey Sebby, hoping you can help me out with this. I am an authorized user on two chase cards and have three chase cards of my own so I'm technically at the 5/24 limit. I applied for the Sapphire Preferred, got rejected, and called the reconsideration line (on 9/15/21). The person on the phone told me that since the rules say too many cards ASSOCIATED with me, and not too many cards opened by me personally, authorized user cards count towards the rule and he would not appeal my rejection.
If I apply today for preferred becoming 5/24 is there a way to apply the next day for the Hyatt card also making it 6/24 hoping it didn't hit my credit report yet?
You said you made a calculator (at 01:53) "with a link down below." Where is it?
I had no choice but to go with other insurers due to a "thin file" and less than 1 year of credit history in my pocket I could not get chase card early in my credit journey. Now, waiting to be under 5/24 until this December 2021 when all my injuries will fall off and finally I will be 2/24.
âââââ100, 000 Reviews
Question Sebby. Does asking for a credit limit increase on Chase Credit Cards affect 5/24? I heard it does.
Thank you Sebby :)
Ok this vid was been super helpful. i've had to change my strategy. im currently 7/24. so i'm going to apply for only business cards after i close on my house next month. I'll be down to 3/24 by may 2022. Then i'll revisit chase.
I know for a fact that I'm WAY over 5/24. I actually just downgraded the CSR to the CFU a few weeks ago. I applied to the CSP yesterday and not only was it approved, I didn't have to shuffle around my credit lines like I did 5 years ago with the CSR.
The only reason I got the Apple Card was because itâs a really pretty cardâŠ.now Iâm all out of luck for that sweet intro bonus from sapphire preferredâŠ.
Would it be wise to burn a 5/24 slot if you are at 3/24 to take advantage of a delta amex card offers without the once in a lifetime language. I live in Atlanta, which is a delta hub.
Hi man, I'm considering getting the Flex or CSP- I probably would not hit or want to spend that much to get the welcome bonus for the CSP right now. I have one more inquiry for a new card then I'm over 5/24. I like cash back and I could wait on traveling for the next two years. I have Chase Freedom Unlimited and Amazon prime rewards card too. I Some Amex cards too- the BCP. You said something about downgrading the CSP to flex after the first year or so I don't want to choose the wrong card then wait two years to continue with Chase. Thank you so much for any response man!!! Means a lot âșïžđ
Currently at 2/24. Iâm waiting for the World of Hyatt to have a good sign up bonus.
Whoa I got a new car too and have the saffire reserved and would like to know about free upgrades to first class. I donât feel you explained that.
I have a question about the AU. Iâll be under the 5/24 in June, I made my mom a AU on my Amex platinum card last summer. Did me making her a AU affect the 5/24?
Does chase send out pre selected offers if your over 5/24? I just got a offer for a CSR but I'm pretty sure I'm at 5/24 right now
Is the BlockFi credit card part of 5/24? I have it but don't see it in my credit reports.
Do you mean "Credit cards" only or any revolving accounts opened in the last 24 months?
Hopefully the Preferred offer of 100k points stays until November, 4 year anniversary from my CSR opening. CSR has been very mediocre in my experience.
Boundless has been disappointing as well, debating on that Amex Hilton top tier card - thing is a monster!
Sebby i sent an invite from Chase for the Chase INK. But i'm at 6 personal cards but on 2 for the business. So will i be disqualified for the business side?
Can you talk about wells Fargo active cash card?
I have one 5/24 chase slot. Unsure to apply for a chase card rn either Hyatt, IHG, British airways chase card, or CFF. My next slot would open until June 2022. I have a lot spending coming in the next 2 months. Iâve seen many credit card gurus say through go all chase cards first before citi or Amex. I currently hold the CF, CFU, and CSP. The citi premier looks like a very good option also! Or should I not apply for a credit card at all? Feel free to comment and leave suggestions.
Does it include external accounts not from Chase?
Does adding card as authorized user affect 524?
0/24 due to mortgage , canât wait to try to get companion pass
Vintage Sebby
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Where is the link to the calculator you referenced? TIA
What is the time frame for a account being new or not
What cards will give $600-$1000 cash cash. Looking for them but I canât find any.
SEBBY FOR THE PEOPLE 2024
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I have 5 cards and the oldest one was opened 24 July 2020 ...am I under or over the 5/24 bro I'll appreciate your response.
Hey Sebby, love the channel, just thought you'd be interested in hearing this but I somehow just got approved for the chase freedom flex while at 8/24. Thoughts? I am 20 years old with 44k for my income already a current chase banking and credit card customer with 50k in assets with them.
Does anyone know if this includes authorized users? I am right at (5) because I was added as an authorized user. TIA
My 5th is me being a authorized users on my girlâs credit card. What if she remove me from her credit card, would that put me back down to 4/24?
I will be at 4/24 in 3 weeks but I already have the CF, CFU, CFF, and CSP so I am pretty much done with Chase because I don't have any side businesses and I rarely travel even before Covid (1-2 flights per year, if that). Thanks Sebby for the guidance through the Chase garden and looking forward to my end game (currently a low-medium spender).
But I was over 5/24 more like 10/24 and chase said if you apply with a business account manager not a business banker. They can bypass it and even let you request the amount you want on your card I wish I knew this sooner I could apply for more chase bus while waiting for my 5/24 to free up.
If you want to see proof that it works Iâm glad to show
I just got approved for freedom flex and I was at 5/24.
I had applied previously for Tomo and capitol one secured card in September 2021
Apple and freedom unlimited in March 2022
Amazon visa in June 2022
Applied for freedom flex today and was approved with $2500 limit which is the lowest among all my chase cards with the other two being $5000 and $4800
When I applied for Amazon in June, I asked private client banker about when should I apply for freedom flex and she told me to apply in 1-3 months.
I was denied each time initially when I applied for every chase card and immediately called the reconsideration line and was approved every time.
I am chase private client with no debt, but mediocre credit around 650. A parent screwed it up when I was younger. And have about 3-4 years till negative marks are removed.
Do Authorized user cards don't count againt 5/24?
Do cards where you are an authorized user count towards 5/24?
I think I've almost reached 48 months for my CSR clock, but how do I know for sure when I'm there?
E
Very easy, look at your credit report!
What if they extend an offer for you to apply?
Chase let me exceeded this. They initially approved, then I checked the mail and I had one letter saying they closed the account, and another saying they decided to keep the account on open. I spend six figures a year on chase credit cards, maybe they make exceptions for people who spend a lot?
Do cards where they didn't check your credit, like Tomo, count towards 5/24?
Yes. As soon as Tomo reports to your credit reports, it will report as a revolving account. However, it takes a few months for it to report after approval, so you have a window of opportunity where you can get approved for a Chase personal credit card when you're already at 5/24.
I'm under 5/24, but I'm still gardening until enough time passes for another Sapphire sign-up bonus.
I got approved for a NASA card they asked for more income information then I decided to decline the card does that still affect the 524 rule.
Chase pre qualified page is gone and more and more people are getting approved at 6/24, 7/24 and even 8/24âŠâŠ
If I cancel old cards will I fall under 5/24?
So if I add an AU to my discover card, it adds to my 5/24 count?