SouthFayetteFan

Per Doctor of Credit:
http://www.doctorofcredit.com/chase-...branded-cards/

Chase will soon apply their famed 5/24 rule to co-branded credit cards as well. The rule says that those with five new credit cards within the past 24-months will not be approved for a new credit card application.

I know there will be many people in both camps on this one - some that will be happy that no more CP earned via credit cards. Others will be upset to lose the ability to generate a CP every 2 years unless they keep their other CC apps to a bare minimum. Just figured I'd pass the info along!

nsx

Darn. This will cut my signup bonus earnings in half or more.

See the thread on the Chase forum for full information:
http://www.flyertalk.com/forum/chase...ded-cards.html

Tanic

I predict this will last until the co-branded companies complain to Chase that their affinity credit card metrics are plunging and decide to shop around for a new issuing bank.

ursine1

Southwest just renewed with Chase in mid-2015, for a multi-year partnership agreement.

sugarwill

If you were applying for both southwest personal cards, in the same day, would they be counted in the 5/24? Like if you have 5 in last 24 months could you then open two more or would that then make it 7 in 24 months?

sdsearch

Yes, each card that has a different account number is counted separately! Because Chase isn't counting inquiries (which can be combined) or types of cards, they are looking in your credit report for any card accounts with a "card opened" date in the past 24 months and counting those! Every card you open, no matter when you open relative to other cards, is a separate listing on your credit report, isn't it???

The only thing Chase won't see are cards from other banks that don't appear on personal credit reports, such as some charge cards and some business cards. But in addition looking at your credit report, Chase also looks within its own system, so it will count all Chase cards of any kind you opened in the past 24 months.

Gosh, they've even been counting AU (Authorized User) cards!

sugarwill

I guess what I'm wondering is, can you only open a new Chase card if you have only 4 open in the last 24 months vs can you have 5 in the last 24 months and then get approved for another?

flyer4512

How much stock do you guys put in this ?

If it's legit I might just get CP again now ( wife has it for 2016) as I won't be able to get in in November, may also get another United card

nsx

I am treating it as fact. I signed up at Credit Karma to get a free list of cards opened. We now need to be precise about planning what cards to apply for and when. I will develop a long-term plan and priorities, keeping one application in reserve for an unexpected opportunity like a 200k BA offer (which is what it would take to get my attention from that program at today's Avios value).

rsteinmetz70112

Does anyone know what is in that agreement?

Does anyone think GK would allow a third party to control their benefits?

satman40

Banks earn money pushing CC,
I have business, and personal CC,
My wife has business, and personal CC.
That is 20/24 rule...

Do I care..

ursine1

One that brings in millions of dollars in profits for Southwest?

Without knowing the details of this specific agreement, I suspect there are minimums and guarantees on the numbers side.

As far as criteria used for account approval, I suspect Southwest has zero say.

Tanic

Panic in the Blogosphere has begun.

texashoser

I would also say Southwest probably isn't that concerned. It's probably that only a small minority of folks using these cards actually churn them to the degree that they have more than five Chase cards in the last 24 months. And of those, what kind of margins is Southwest seeing on them? Yes, Chase has to pay Southwest for those points, but the ones that end up churning cards just to keep their CP status, what kind of customer do they get there vs. the typical customer that gets the 50,000 bonus points every few years? Who knows, but I doubt WN is losing sleep over it.

nsx

People with more than 4 new cards from any issuer in the last 24 months will be denied. It's still not a large percentage of applicants, though. I'm sure Chase has run the numbers on it and determined that it will not affect their partners.