Posted by William Charles on November 28, 2018
Business Credit Cards

Published on November 28th, 2018 | by William Charles

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Is Chase Counting Chase Business Cards Towards 5/24 Status Now? No, They Aren’t

Recently Chase expanded the 5/24 rule to include more (if not all) co-branded credit cards. For those not familiar the Chase 5/24 rule, it basically means you won’t be approved if you have five or more new accounts (credit/charge cards) on your credit report within the past two years you will not be approved. Chase business cards do not report your personal credit report and they haven’t counted towards the five or more new accounts previously. Recently I’ve seen some troubling datapoints to suggest that this might have also changed when the 5/24 rule was expanded to other co-branded cards (on or around November 13th, 2018). As a reminder it’s important to understand that a denial for too many inquiries in the last 24 months is not definitive proof that the 5/24 rule exists on that card.

That being said, after reaching out on Twitter, /r/churning and via e-mail we have now seen a large number of people that have been approved that wouldn’t be if these Chase business cards were included. Normally I wouldn’t even post this, but I know some people were worried (especially with me asking in various places) so here are some positive datapoints to put your mind at ease:



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Tara
Tara

Officially they maybe not, but still current application can be denied depending on how many you have applied in past.

I was at 3/24 in December 2017, applied strategically for 3 chase business cards so far (roughly 2 to 3 months apart), and then just got denied for new chase business card last month, saying i have too many chase cards opened. Reconsideration line did not help things either, and application denied.

Technically i am still at 3/24…….

BW
BW

That’s not a 5/24 denial.

tinytavosa
tinytavosa

This article is only about denials based on 5/24. You denial is based on your circumstances, 5/24 is a hard and fast rule that even the perfect credit and credit history individual would find themselves denied.

Lantean
Lantean

I have an unrelated question… does Chase pre-qualified offer for CSP on iPhone app override 1/48 Sapphire rule? I just closed my CSP two months ago and now the app tells me I am pre-qualified for CSP.
Thank you.

Matt
Matt

The 1/48 rule relates to the bonus, not the card. There is a 1 sapphire rule, meaning you can only have one at a time.

Lantean
Lantean

Please don’t answer if you do not understand the question.

FYI, Chase will not approve you for a card if you’re not bonus eligible.

DNew
DNew

“FYI, Chase will not approve you for a card if you’re not bonus eligible.”

DoC is this true? William Charles

Saturn
Saturn

Yes.

“This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months.”

This policy places the online offer in the same category as a mailer, that is marketing. Your actual app would be denied.

Elmer
Elmer

-1

tinytavosa
tinytavosa

I’m quite sure you are wrong… Lantean

Tim
Tim

-1

Karsinogen
Karsinogen

Just as another DP, I’m currently sitting at 4/24. I opened a CIP in September and I just applied for a CIU yesterday and was approved.

joe
joe

Hey, me and my SO are also both at 4/24. Just curious, as i am a bit unexperienced, would it make senses to apply for as many business cards as possible before going for personal?

Karsinogen
Karsinogen

It totally depends on what you’re trying to do, but yeah, I would try to stick to business cards until you’re ready to go over. I’m planning on doing a modified DD of CSR/CSP in January and leave Chase behind as their other cards don’t really interest me. (I did want to grab the Hyatt card for the free night, but I waited too long and it’s 5/24 now, so meh.)

chris
chris

thank for the info, I was hoping the Business cards would not be counted and it seems like they are not counted.

hashiryu
hashiryu

Chase no longer allow 2 approvals in a single day. I recently opened CSP (20k) and CFU (10k). Chase contacted me next day saying that they closed the 2nd one (CFU). They wanted to check if if I wanted to keep CFU instead. Since CSP had a higher credit limit, I requested to swap the limit, close CSP, and reopen CFU.

Jeremiah
Jeremiah

“Nah, I don’t need $500 I’d rather have $150 instead.”

Why?

Elmer
Elmer

“Duh, the APR was lower on the CFU!”
Just goes to show that there will always be newbies joining this hobby that will keep the more profitable options alive and well for the rest of us.

Yoni
Yoni

Elmer
Even 0% for 15 months as a lower APR% Not sure why anyone would carry a balance on a Personal card – Even tho CL util would be under 10% if maxed out the new credit-line – it would still impact my FICO’s (even with all but EXP are 800+). One might get a small bump from 15 months of credit useage and then paying off esp with TU from what I have observed). But It would be a interest free loan for 15 months.

But plenty of Biz card offers still around with 9< months 0% and no util hit or 5/24 hit.

hashiryu
hashiryu

Intro promo offer is far more important for me. I can easily make 15%+ fixed income for in 15 months. $500 sign up bonus is just a rounding error.

Jeremiah
Jeremiah

You can’t get 15% risk-free. And there are plenty of other cards that will give you longer period of 0% APR and/or 0% without hitting your utilization (business cards). Using a Chase slot for the promo APR just isn’t optimal unless you really have some sort of guaranteed way of getting return like that and are signing up for every 0% offer you can.

hashiryu
hashiryu

Because I don’t care if it’s $500 sign up, $150, or zero.

tinytavosa
tinytavosa

It’s best to avoid stating such definite facts like “chase no longer allows 2 approvals in a single day”. Newcomers read these comments and take your words like they are true, but I’m not sure anyone has seen valid data points that what you’re saying is true. Maybe you could explain more about what Chase told you? Having them close a secondary account means nothing close to “they have a hard and fast rule to not approve two cards in one day now”

In the very essence of this article, DoC explains why the concern was there for chase business cards affecting 5/24, but now we see that the data points say they are still not being counted. If you just say bold things you get everyone worried. If they no longer allow 2 approvals in a day, more people would be talking about that.. can you direct to any other data points?

Orin
Orin

There was another post a few weeks ago on doc site about this

Saturn
Saturn

Run a search for Chase Double Dip, and you will find corroboration of this left and right.

Hodor
Hodor

Thanks for avoiding a click bait title on this post. I’m sure it was tempting.

Ian
Ian

I’m confused.. if they’re not on your credit report, why would they count them toward 5/24 anyway?

Electroman
Electroman

More to the point is – why wouldn’t they? They know how many Chase business cards you have, and when you opened them; they don’t need to look into your credit report for that information.

Bobby
Bobby

This is a good point.

Their system is isn’t strictly looking at your 5/24 status based on your credit report. They also add on personal Chase cards that aren’t on your credit report (approved but not yet reporting to bureaus). They easily should be able to add on business cards…but don’t for some reason.

Ian
Ian

but for all they know you could also have dozens of AMEX and Citi business cards opened in the last 24 months that they don’t know about, so it doesn’t really make sense to only include Chase business cards.

Saturn
Saturn

I believe I can see where you are coming from. From the angle of 5/24, determined by new cc accounts on your report(s), you are correct. However, this is an issue of control. It would not be hard for them to implement a process that suspends their automatic approval if more than 4 HPs are detected, then checks for Chase HPs, then checks for Chase biz cc approvals, then adds those to the list. I would venture the guess that they are not eager to do anything like that, and in the end we are looking at the usual once more: clueless kangarookies leaping to the wrong conclusion.

Robert m
Robert m

I can back this up. I’m at 4/24 plus 1 Chase ink and I just got approved by chase

Yoni
Yoni

DP
P1# and P#2 both flirting over/under 5/24 most of the year – but also both have Chase Ink Trifecta, as well I added a P#2 CSP referral for 60K UR was Approved last month for $24K. I think in realty I’m 13/24 or 14/24 with Biz cards.

So they are not counting, but again that could changed tommrow.
I will be < 5/24 again next summer.

But if they do I will not worry about 5/24 any more but I do have a few Biz cards I would like still.

Brett W
Brett W

Do co-branded business cards count? Like say, the Marriott Business Card I got last spring?

sam
sam

Does anyone ever get instant approved on Chase biz cards? It seems like they always review the apps and may just be getting more stringent at looking at the entire Chase relationship. It may help if people who are getting approved for their 4th/5th chase biz cards give information on when their last chase card was opened etc/# of inquiries/chase biz apps.

SA
SA

Another DP. P2 was approved for CSP in Oct end with 6/24. Out of these 6 cards, 1 was a chase personal card and 2 were Chase Business cards.

Kenneth Li
Kenneth Li

i applied Chase Hyatt credit card last sunday, 3 days ago. i been calling their automatic phone line for the last 3 days., it always said “your application is under review”. is this mean i already denied ?

Kent C
Kent C

No. Been approved many times this way and without calling reconsideration. I’m also speaking of the 60k hyatt card. Keep calling autoline to check if you like, should take no more than 2-3 weeks max.

Jonathan
Jonathan

I didnt really care about this post, but I just need to say, thank you for always answering your own question in the title (your titles consistently save me time)!

Pat S.
Pat S.

While I agree the system is not using business cards to auto-approve. My SO was declined reconsideration solely based upon having open too many chase business accounts. They took away the AUs but not the business cards she has as an LLC and Sole Prop.

Ludwig
Ludwig

I think the combination of 5/24 or too many inquiries is what’s at play here. One is going to get you, irregardless of what you call it.
I have to accept reality that I may of captured my last Chase CC, the only one that got away is the Amazon card, and I’m not waiting two years just to get that.

Tim
Tim

I noticed for my most recent CIU that there was an inquiry on my Experian

Chong786
Chong786

Chase always do hp when you apply for credit card even if you were preapproved.

Also 5/24 is not about # of inquiries

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