ASK LUCKY (and each other)


Have a travel related question? Post it here, and I’ll do my best to answer it as quickly as possible.

Anyone can post a question, but you'll get the most benefit from registering to join our forum. You'll be able to see when your question is answered, and like comments from other users.

This space is intended to be more of a community as well, so feel free to jump in and share tips!

Thanks for reading!

Best,
Ben

Will I fall under Chase's 5/24 rule?

Discussion in 'questions. answers. conversations.' started by Daniel B, Mar 17, 2017.

  1. Daniel B

    Daniel B Active Member

    Messages:
    158
    Likes Received:
    58
    I would grateful for any advice whether to apply for a Chase (MileagePlus Explorer) card which I got a targeted offer of 70k miles.

    I have read a lot about the 5/24 rule, but based on the Credit Journey info I got, I am a bit confused, because.....

    In the past 2 years

    We opened:

    2 RapidRewards accounts on 8/16/15 (one for her and one for me), and we are authorized cardholders on each other’s card.

    My wife opened a MileagePlus Explorer card on 2/27/16 and I am an authorized cardholder on that.

    I opened a Delta Amex Platinum card on 10/14/16

    We cancelled:

    My Delta Gold Skymiles card on 05/22/16 (was opened on 07/29/15)

    My wife’s Delta Platinum Skymiles (I was an authorized user) on 05/17/16 (was opened on: 07/14/15)

    My Capital One card 10/30/15 (was opened years ago)

    My MileagePlus Explorer card on 3/12/16 (was opened years ago)

    Per the advice of @Gaurav, I signed up for Chase’s “Credit Journey”, according to which I have only 2 cards. I am surprised by this discrepancy between what I know about the 5/24 rule (that both principal and primary cardholders count, as well as both opened and closed accounts count in the past 24 months), and how many cards my Credit Journey account shows.


    Does this mean that if I apply for a new Chase card (MileagePlus Explorer), I will NOT fall under the 5/24 rule since that CreditJourney website only shows 2 card under my name? Will I likely get approved (my FICO score is over 800)?


    I would appreciate any thoughts/suggestions. Sorry for the lengthy post, but I wanted to give all the necessary information.
     
    #1
  2. David W

    David W Well-Known Member

    Messages:
    2,399
    Likes Received:
    1,156
    5/24 only looks at cards that we're opened in the last 24 month period. So if you opened a card and closed it a year later but within the 24 month period, then it'll still count towards 5/24.

    However, since you were targeted, it cant hurt to try and apply for it. Also, in addition to credit journey, also try freecreditreport.com and compare?
     
    #2
    jjmpdx and Daniel B like this.
  3. Daniel B

    Daniel B Active Member

    Messages:
    158
    Likes Received:
    58
    Thank you @David W. So if I understand you correctly, the 2 cards (MileagePlus and CapitalOne) which I opened 6 years ago, but cancelled them only a year ago will/should NOT count?
     
    #3
  4. David W

    David W Well-Known Member

    Messages:
    2,399
    Likes Received:
    1,156
    it shouldnt count since they were opened more than 24 months prior to your application.
     
    #4
    Daniel B likes this.
  5. Daniel B

    Daniel B Active Member

    Messages:
    158
    Likes Received:
    58
    Thank you @David W. Just one more thing: being an authorized user however still counts doesn't it?
     
    #5
    Last edited: Mar 17, 2017
  6. David W

    David W Well-Known Member

    Messages:
    2,399
    Likes Received:
    1,156
    I'm not too sure about that but it seems like it does count.
     
    #6
    Daniel B likes this.
  7. Tiffany

    Tiffany One Mile At A Time

    Messages:
    5,732
    Likes Received:
    1,589
    I think it counts for the computer, but there are reports of people calling and explaining that they are authorized users, and adjustments being made.
     
    #7
    Daniel B likes this.
  8. Daniel B

    Daniel B Active Member

    Messages:
    158
    Likes Received:
    58
    Thank you. I think I will try applying then....
     
    #8
  9. Daniel B

    Daniel B Active Member

    Messages:
    158
    Likes Received:
    58
    @David W and @Tiffany : do you by any chance know the phone number of Chase's "reconsideration" department? I have not yet applied, but thought that it would be worthwhile to know.
     
    #9
  10. Gaurav

    Gaurav Well-Known Member

    Messages:
    3,404
    Likes Received:
    1,477
    Try 888-270-2127
     
    #10
    Daniel B likes this.