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Which Chase Cards Are Affected by The 5/24 Rule?

The 5/24 rule applies to the following cards:
Chase Freedom
Chase Freedom Unlimited
Chase Sapphire Preferred
Chase Sapphire Reserve
Chase Slate
Chase Ink Cash
Chase Ink Plus
Chase Ink Preferred
Chase Southwest Plus personal card
Chase Southwest Premier personal card
Chase Southwest Premier business card
Chase Marriott Premier personal card
Chase United MileagePlus Club Card
Chase United MileagePlus Club  Business Card
Chase United MileagePlus Explorer personal card
Chase United MileagePlus Explorer business card

What Cards Aren’t Affected?

The following cards don’t have this rule applied to them:
Chase IHG
Chase Hyatt
Chase British Airways
Chase Disney
Chase Fairmont ?
Chase Marriott Premier business card
Chase Ritz-Carlton
Chase Amazon
Chase AARP

HT: DOC
« Last edited by etech0 on October 24, 2017, 10:11:36 PM »

Author Topic: Chase 5/24 Rule To Apply On Co-branded Cards?  (Read 127450 times)

Offline Redbull3

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #80 on: February 16, 2016, 07:27:07 PM »
Sounds like you are worked up about Chase specifically because they uniquely focus on "any bank" behavior (compared to Citi or Amex focusing on their own products).  The point of the anti-gaming measures these issuers take is to eliminate gamers, and as few profitable clients as they can in the process, with the smallest hits possible to the more intangible metrics like NPS. And I'm sure you would agree that your exceptions probably don't come close to eliminating all of flyertalk, us, others, etc.

Any measure they take would create "unfair" exceptions. Those exist for Citi and Amex as well.
What would you do if you were the CEO of Chase?

Offline EJB

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #81 on: February 16, 2016, 07:29:54 PM »
Who is talking about years? There are numerous people I know that started their own business over the course of the last few years. They travel for work and need to figure it out by themselves. So they got themselves an AA card because it gives them miles but also has perks when they travel with AA. They also have an AS Card for the perks they get on that card. Same goes for his DL Card. They have HH card for some of his hotel stays. He is planning on keeping all of these cards because they benefit him in his travel and he wants to use the card offering him the best benefit at a given location that he can get. That's worth it for him. So now if he would have applied for the Hyatt card first and then would have applied for his other cards, no problem. But because he got the other cards first and now wants to get a long term chase card, he will get denied. How is he even supposed to know that? What did he do wrong? I don't even think - if this is a real rule - that any T&C's mention it (for the UR earning cares atm)

Why would the T&C mention chase's underwriting rules? This isn't an eligibility thing, it's an underwriting decision.

Offline benjie1305

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #82 on: February 16, 2016, 07:32:23 PM »

Why would the T&C mention chase's underwriting rules? This isn't an eligibility thing, it's an underwriting decision.

That's fine. My point still stands.

Also I assume this means that the denial letter will state that then. Has anyone had this listed in their denial letter that was told they couldn't get the card due to 5/24?
Work hard, Play harder!

Offline EJB

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #83 on: February 16, 2016, 07:35:15 PM »
That's fine. My point still stands.

Also I assume this means that the denial letter will state that then. Has anyone had this listed in their denial letter that was told they couldn't get the card due to 5/24?

I'd assume it says too many recent accounts. Have never seen a denial letter that specifies what is considered too many. And I didn't know that you had a point in the first place. Why should Chase feel bad for someone that can't get a card they want? They decided that they don't want customers with a lot of recent accounts, likely because they are not profitable.

Offline CS91

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #84 on: February 16, 2016, 07:37:47 PM »
Am I the only one that thinks that "The Game" will basically be over within the next 2-3 years? I know things always came and went, but it seems like every loophole is being closed.

Offline Freddie

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #85 on: February 16, 2016, 07:43:06 PM »
That's fine. My point still stands.

Also I assume this means that the denial letter will state that then. Has anyone had this listed in their denial letter that was told they couldn't get the card due to 5/24?

My denial letters just said you have adequate credit already, maybe even too many recent accounts. No specific mention of 5/24. That's strictly an "in-house" metric. I'm surprised recon even mentioned the exact limit on the phone. I know they've told it to me (5/24) but it seems funny to me that they even share that info.

Offline benjie1305

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #86 on: February 16, 2016, 07:44:27 PM »

I'd assume it says too many recent accounts. Have never seen a denial letter that specifies what is considered too many. And I didn't know that you had a point in the first place. Why should Chase feel bad for someone that can't get a card they want? They decided that they don't want customers with a lot of recent accounts, likely because they are not profitable.

Look what I wrote at earlier points. It is only unprofitable if they keep giving everyone the bonus. Doesn't make it right to deny a creditworthy person a credit card with them. So don't give them the bonus if they got it before. Furthermore look at someone's behavior within your institution. What if he did have several AA cards but long term chase cards that have been profitable with them. That shouldn't matter at all? Punishing their own - profitable - clients?
Work hard, Play harder!

Offline EJB

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #87 on: February 16, 2016, 07:46:52 PM »
Am I the only one that thinks that "The Game" will basically be over within the next 2-3 years? I know things always came and went, but it seems like every loophole is being closed.

For the most part, I agree. From my line of work, I'll tell you that both the airlines and the banks are increasingly caring about managing the liabilities associated with their outstanding points, which for the larger programs is in the billions. Airlines want to turn their FF programs into essentially rebate programs with the redemption value of points pegged at a fixed number. Banks are getting much better and more efficient at using data to monitor customer profitability and make business decisions based on this data. From a tax perspective, there is one disadvantage to controlling the program costs, but they haven't come to realize that yet  ;D.
« Last Edit: February 16, 2016, 07:52:53 PM by EJB »

Offline CS91

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #88 on: February 16, 2016, 07:47:16 PM »
Furthermore look at someone's behavior within your institution. What if he did have several AA cards but long term chase cards that have been profitable with them. That shouldn't matter at all? Punishing their own - profitable - clients?
While that would make sense, it would make things very subjective and on a case-by-case basis. They probably want a uniform set of rules that they can tell every rep to follow.

Offline EJB

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #89 on: February 16, 2016, 07:51:19 PM »
Look what I wrote at earlier points. It is only unprofitable if they keep giving everyone the bonus. Doesn't make it right to deny a creditworthy person a credit card with them. So don't give them the bonus if they got it before. Furthermore look at someone's behavior within your institution. What if he did have several AA cards but long term chase cards that have been profitable with them. That shouldn't matter at all? Punishing their own - profitable - clients?

They seem to be making a rule that at the aggregate they project will improve profitability. While it is possible that in some individual cases they'll piss off customers and cause them to bank elsewhere or spend less (I don't think this is a major concern of theirs), they likely believe that the additional cost to make more individualized lending decisions is greater than the additional profit they'd generate from those customers. I think the 5/24 rules makes sense from a business perspective in terms of awarding sign on bonuses, but agree with you that they should be able to give someone a card without any bonuses.

Offline EJB

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #90 on: February 16, 2016, 07:51:54 PM »
While that would make sense, it would make things very subjective and on a case-by-case basis. They probably want a uniform set of rules that they can tell every rep to follow.

+1. Wouldn't be surprised if banks have been noticing that more and more applications have been getting approved via recon.

Offline jameswacht

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #91 on: February 16, 2016, 09:03:56 PM »
Anyone recently get approved for ink plus?

Online TimT

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #92 on: February 16, 2016, 09:10:16 PM »
Anyone recently get approved for ink plus?
How recent ?

Offline pixi

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #93 on: February 16, 2016, 11:25:42 PM »
Will I be denied if part of my 5 cards are (amex)  business cards, Or its only about personal cards?
money doesn't talk......      it SCREAMS !

Offline GAM Z.

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #94 on: February 16, 2016, 11:39:20 PM »
Anyone recently get approved for ink plus?
I got approved on 1/29 and I'm over the 5/24

Offline Zalc

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #95 on: February 17, 2016, 12:12:09 AM »
I had a Chase Banker send in the special consideration/recommendation form for INK and was
still denied . Is that a data point ?
Are you a Private Client?

Offline CS91

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #96 on: February 17, 2016, 12:14:50 AM »
Will I be denied if part of my 5 cards are (amex)  business cards, Or its only about personal cards?
Business cards don't show up on your credit report.

Offline pixi

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #97 on: February 17, 2016, 12:15:35 AM »
Business cards don't show up on your credit report.
Good to know.
money doesn't talk......      it SCREAMS !

Offline Sfuzzi

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #98 on: February 17, 2016, 12:23:44 AM »
Fwiw I applied for a card and had to call recon. I was pretty surprised when the rep said
I had already opened 4 cards in the last 18 months. I asked if they could shift credit from another card with $30k limit. Rep said you just did that in Dec. I was expecting rejection since I had opened two amex last year but surprisingly was approved. I have never been grilled
Like that before. 

Offline DaveInLA

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Re: Chase 5/24 Rule To Apply On Co-branded Cards?
« Reply #99 on: February 17, 2016, 04:44:37 AM »
This would be devastating.