jsk1973

Closed accounts do count for AAoA purposes, although that's rumored to be ending the next time FICO updates its scoring algorithm.

Also, I believe closed accounts remain on one's credit reports for 10 years, not 20, and it's not a requirement. I've had positive closed accounts drop off my reports as soon as a few years after closure. I recently came back to the U.S. after living abroad for five-plus years and somehow had almost blank credit reports. (Indeed, my Equifax report was blank.)

silver02accord

I called recon for a Ink app after receiving the denial letter in the mail. The automated status line said 7-10 days. At what point do I want to call in and talk to another CSR for recon? Do I receive another denial letter in the mail then call in again?

theplayer

post isn't clear..you talked to a live rep when you called recon..right?

Newgene

Yeah, I had read where people were trying to get multiples of the same card by using a different business number for the same person. However, I didn't realize that one business is limited to one account even if it is issued to separate individuals/SSN. It made sense to me that they would limit it to one per person, but I guess if it's limited to one per business, than a person could get multiple of the same account if they list a few different businesses.

It actually makes life easier for me just to apply under SSN, but I want to make sure I'm not doing it unnecessarily. I just know that Chase, although they say differently, really goes back to the personal card holder's credit, even for a business card.

I'm not concerned with the business income under the SSN. I'm not claiming we have a 2nd registered business. Our tax forms back up the business income, and the 1st business is filed on our joint return under both of our SSNs. I can submit my tax forms under my SSN, and it should substantiate any business claims, if I ever had to.

silver02accord

I called recon and spoke with a csr after receiving denial letter. They said I should hear from them in a week or two iirc. Not sure if that means by mail or what.

waylook

My wife and I have each gotten Ink cards through her business. I have gotten an Ink card through my business as well. In addition, she and I have both gotten an additional Ink card through her SS number. Please note that we could have documented all of these businesses and income if asked to.

theplayer

ok..I thought they would give a decision over the phone, I believe that is usually what happens

maxwell109

I just wanted to let everyone know Chase has modified their 5/24 rule. I just got off the phone with Chase's underwriting department with my local Chase personal banker on the line with me. Bottom line? Chase is now including AUs in the "5 new accounts" part of the 5/24 rule. I have a credit score of 817 and only have two (2) open revolving accounts. So on the suggestion of my Chase personal banker, I requested and reviewed my credit reports. I am an authorized user (AU) on three (3) of my husband's accounts and I had a very old and never used overdraft protection associated with my credit union checking account. This was enough to get my application for the Sapphire Preferred account denied! The agent from Chase's underwriting department indicated this was a policy change that just occurred this December. Our lengthy conversation can be summed up as follows -- Me: Chase is willing to drive away high net worth customers with stellar credit scores who have never had a delinquent payment on any account and who have just 2 open revolving accounts where they are the account owner; can you explain this to me? Underwriting agent: "The process makes those decisions; there is nothing I can do." Forewarned is forearmed.

elementofice

Thanks! Can confirm that in 2013 Chase pulled both EX and EQ since my Freedom app was in 2013 and that pulled both. I do want to point out that I applied for Chase Sapphire and CSP in Sept 2014 and Nov 2014 respectively and both of those pulled EX AND EQ, so that practice existed in 2014 as well. And it has been 2 HPs throughout 2015 and probably from now on going into 2016.

Long Islander

So, there was no flexibility in terms of not counting the AU apps?

Also, my wife's app (4 primary, 3 AU in 24 months) was denied in November, so the policy change must have been some time prior to then.

aza72

Chase has been including AU in the 5/24 since it was implemented in May. However more often than not, people have been able to have them disregarded when talking to a supervisor on reconsideration. I'd try to hang up and call again at least once if I were you.

maxwell109

The wiki for this forum states, "Being an additional user on someone else's account poses no bar to applying for that same card & bonus, except insofar as such cards may count toward the 5/24 rule."

I thought that should be a pretty reliable source. But, as I learned today (12/28, see my entry on this date), this information is now outdated.

NYCRuss

Have yourself removed as an AU in about a month. Wait until your credit reports update. Apply for the Chase cards 90 days after you were declined, and you'll have a much better chance at approval. After you get your new Chase cards, have yourself added back as an AU on those cards with an annual fee. For those with no annual fee, apply for your own accounts.

maxwell109

If this is true, then why is the information about AUs in the wiki for this thread not updated?

I honestly don't know who else I could possibly call at Chase who has sense, flexibility and authority. I've called the reconsideration line twice and was on a conference call with underwriting and my personal Chase banker when I was told the information I've reported.

Not for me.

All I am reporting is what the agent from Chase's underwriting department told me as fact today. It appears Chase, like Delta, doesn't publish its rules and, according the underwriting agent, applies its own rules inconsistently.

aza72

This is what you ran into actually. It doesn't affect the bonus - eg if you are a AU on your spouses CSP, you can still get the CSP signing bonus for yourself. However, being an AU on the CSP may count to the 5/24 rule.

Some people have needed to escalate to a supervisor at the underwriting department.

p.s. the forum has a 'multiquote' option you can use to respond to multiple posts at once.