Originally Posted by
alpineghost
I didn't realize there was a risk with opening multiple cards as long as I stayed under 5/24 so I opened 3 personal cards and 2 business cards in the last 10 months. I then screwed up and had a payment returned because of insufficient funds but I still paid off the balance before the due date. I've read a ton of warnings about 5/24 but no mention about Chase closing accounts.
While 5/24 is known, Chase also uses other algorithms to spot trouble. Since 2008, banks are trigger happy. While there's been less shooting from the hip lately, you still need to make yourself a small target. Five Chase cards in 10 months isn't doing that.