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 😎
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!
"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 :)
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.
@@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.
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
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, 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.
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 😁
Honeslty chase is losing money, I just stopped using chase credit cards for that reason I wanted to get a couple more but keep getting rejected. Just applied for the gold American Express card, delta platinum sky miles and Hilton honors surpass and was approved within minutes. I’ll be suing the American Express cards for a while now
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
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.
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).
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.
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?
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 I’m glad to show
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.
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.
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.
Thanks, Sebby, for reviewing 5/24 for the newbies in this game. I already liked the video before I even watched it 😁. Sharing this to The Credit Society and will make sure they like and subscribe.
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 got approved for the CSP 5 days ago but it’s my 5th card. I want the the Freedom Flex and don’t want to wait? Youre saying I can bypass the 5/24 rule if I apply now before it shows up on my report?
I joined a Yotta Pool named Sebby! I'm guessing that's you. Thanks for explaining. I just heard about this rule tonight, and didn't know what it was until a youtube search brought me here. I'm not a fan of Chase. My credit rating is between 750 (Fico) and 808 with Equifax. I had a hardship due to Covid affecting my job a couple years back and was 30 days late on a payment. Two years later they will neither forgive it, or allow me a credit limit increase. My current limit is $500.00. The most insulting thing is that they still send me offers trying to get me to open a new line of credit. I mainly use my Citi Custom cash (5% at most spent category each month), and Sam's Club (5% on gas 3% on restaurants). Any other tips or advice would be appreciated.
For any Amex biz cards added and if you already had an Amex, it won't be added to your personal. Amex does a soft pull if your an existing customer. Let me know your thoughts.
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.
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
I would recommend going for the Amex Amazon Business Prime card instead of Chase’s version. It’s basically the same card except you get Amex return protection and Amex offers. Keep in mind that you’re likely going to be limited to 4 or 5 credit cards overall with Amex. If you’re willing to use one of those slots for the Business Prime, I’d say go for it.
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 I’ve had for almost 2 years. I’m trying to build my credit (it’s 710 and won’t move. I’d 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 I’d get denied.
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.
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.
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.
My #5 card was opened on 1/13/21 (Typing this on 1/4/23) will I be able to apply for a new Chase card on the 14th? Or is it going by full months, and best to wait until it's February to apply for a new Chase card? Thanks in Advance
I see ppl sayin “im 2 wks away from bein under 5/24”, are yall sayin yall have a credit card thatll be 24months old and itll be taken away from the 5/24 so now youll have 4?
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. I’ve 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.
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?
Everything is going up. Chase, how about making it 6/24?
😂
Yes please 😩
they would do the opposite and make it a 4/24
😆
12/24 to be more precise 😅
I’m very excited to be back under 5/24 right now! Great informational video here Sebby 👍
What's your next card of interest Dan?
@@sjg6158 Gonna be the Chase Business Ink Unlimited most likely!
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 😎
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!
"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 :)
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.
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 👍🏾
Got approved last week and it just got here in the mail today!
Does a line of Credit count towards the 5/24?
I thought that “5” was solely Chase cards… hmmm ok learned something new today
Why use *** when you wrote Discover?
I’m getting under 5/24
NO
MATTER
WHAT 😆
Ha! How long until then?
@@AskSebby - About 2 months 😬
The Mark Reese 5/24 bypass -> product change that Boundless, it’s Ritz time
@@ryansebers396 - Oh yeah 😎👊
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.
Chase is missing the marketing goldmine that is 7/24
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.
Me: Im feeling lucky today!
Sebby: Chase's algorithm will reject you!
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.
Applied with paper application for CIP with a business banker. Over 5/24. Approved for 100k bonus
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 😁
Thank you :)
- as a college professor, i concur! excellent class, i mean video!
I just got out of 5/24. I kinda wish I got the CSP before that. Great video!
Honeslty chase is losing money, I just stopped using chase credit cards for that reason I wanted to get a couple more but keep getting rejected.
Just applied for the gold American Express card, delta platinum sky miles and Hilton honors surpass and was approved within minutes.
I’ll be suing the American Express cards for a while now
Great Video Sebby! This information was really helpful 👍🏼
Do store only cards count towards 5/24?
Yep
What is the time frame for a account being new or not
You said you made a calculator (at 01:53) "with a link down below." Where is it?
I didn't know this! Thanks for teaching me something new!
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
What cards will give $600-$1000 cash cash. Looking for them but I can’t find any.
Darn Chase for keeping me responsible with my new accounts. The rule certainly makes me more strategic while chasing bonuses
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 cards where you are an authorized user count towards 5/24?
If I cancel old cards will I fall under 5/24?
Do Authorized user cards don't count againt 5/24?
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).
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.
Does it include external accounts not from Chase?
Does care credit count towards Chase 5/24 rule?
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?
Does anyone know if this includes authorized users? I am right at (5) because I was added as an authorized user. TIA
Good video. Answered my questions about the role that mortgage and other loans etc., play in 5/24.
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.
So Affirm counts?
Many retailers offer pay in 4 plans (Afterpay/Klarna/Paypal etc) during checkout. Do those count as financing?
Thanks for the information Sebby
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!
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.
so to be sure. business cards dont count againt you in the 5/24?
So if I add someone as an authorized user that counts as 5/24 rule?!
Do you have any videos about wells cargo credit cards ?
I have 3 credit cards but 2 installment loan so im at 5 ??? Or just 3 because is only credit cards
Correct you’re at 3
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 I’m glad to show
Another great video & lesson.
Where is the link to the calculator you referenced? TIA
5/24 still a rule I’m at 6/24 and wasn’t approved, will call the reconsideration line once I get my letter 📩
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.
Do you mean "Credit cards" only or any revolving accounts opened in the last 24 months?
If I have two Chase Marriott cards do I earn 15 or 30 elite night credits toward higher status?
Does adding card as authorized user affect 524?
I like you, the way you talk and explain.
Do personal loans count towards 5/24?
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.
Hey ! What If someone makes me an authorized user from his Credit Card that counts as a regular credit card inquiry ??
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.
Is it less likely to get approved for a chase business card if you are at 4/24?
Thank you for the information
Thanks, Sebby, for reviewing 5/24 for the newbies in this game. I already liked the video before I even watched it 😁. Sharing this to The Credit Society and will make sure they like and subscribe.
Thanks! :)
My 5th is me being a authorized users on my girl’s credit card. What if she remove me from her credit card, would that put me back down to 4/24?
Can I apply for another 5 cards after the first 5/24? Is that possible?
Chase questioned me about a Toyota car loan 14 months ago when I applied for a Business card.
SEBBY FOR THE PEOPLE 2024
😎
Thank you, Thank you , Thank you
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?
Hello! What about getting the just for you offers while being over 5/24?
I got approved for the CSP 5 days ago but it’s my 5th card. I want the the Freedom Flex and don’t want to wait? Youre saying I can bypass the 5/24 rule if I apply now before it shows up on my report?
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
I joined a Yotta Pool named Sebby! I'm guessing that's you. Thanks for explaining. I just heard about this rule tonight, and didn't know what it was until a youtube search brought me here. I'm not a fan of Chase. My credit rating is between 750 (Fico) and 808 with Equifax. I had a hardship due to Covid affecting my job a couple years back and was 30 days late on a payment. Two years later they will neither forgive it, or allow me a credit limit increase. My current limit is $500.00. The most insulting thing is that they still send me offers trying to get me to open a new line of credit. I mainly use my Citi Custom cash (5% at most spent category each month), and Sam's Club (5% on gas 3% on restaurants). Any other tips or advice would be appreciated.
Chase pre qualified page is gone and more and more people are getting approved at 6/24, 7/24 and even 8/24……
For any Amex biz cards added and if you already had an Amex, it won't be added to your personal. Amex does a soft pull if your an existing customer. Let me know your thoughts.
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.
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
Haven’t logged in like forever. Digging the new background.
So if I add an AU to my discover card, it adds to my 5/24 count?
Does anyone know if Barclays business cards report to personal credit?
Is Amazon Prime Card affected by 5/24?
Yes.
I would recommend going for the Amex Amazon Business Prime card instead of Chase’s version. It’s basically the same card except you get Amex return protection and Amex offers.
Keep in mind that you’re likely going to be limited to 4 or 5 credit cards overall with Amex. If you’re willing to use one of those slots for the Business Prime, I’d say go for it.
Interesting thought Vincent. I’ll look into it. Thanks!
Why is "Discover" in 2:07 censored?
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 I’ve had for almost 2 years. I’m trying to build my credit (it’s 710 and won’t move. I’d 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 I’d get denied.
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.
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.
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.
Is the BlockFi credit card part of 5/24? I have it but don't see it in my credit reports.
Bonvoy boundless over chase Hyatt?
I got all my chase cards first, now I'm going LOL/24 and P2 is picking up the Chase cards.
My #5 card was opened on 1/13/21 (Typing this on 1/4/23) will I be able to apply for a new Chase card on the 14th? Or is it going by full months, and best to wait until it's February to apply for a new Chase card? Thanks in Advance
So does chase just have the best bonuses or something? Otherwise 5/24 wouldn’t be as consequential
I see ppl sayin “im 2 wks away from bein under 5/24”, are yall sayin yall have a credit card thatll be 24months old and itll be taken away from the 5/24 so now youll have 4?
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. I’ve 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.
Thank you, as always, Sebby
5/24 does not apply with Amazon Prime.
Next month I’m at 4/24 (: got 8 accounts total (1 business) and SEBBY!! What about the bitcoin credit card? You haven’t gone over it
Wow, 5 in two years isn't that much really. Glad it doesn't affect other lines of credit though.
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?