The other lesson: The "rule" for non-UR cards has been overruled. ;)

RNE, it's back to the drawing board for the theorists. :D

My quote is reliable. The second rep I spoke with read the reasons for my denial from the rejection letter that I will receive. Too many open accounts in the last 24 months was one of the reasons, but I get the feeling that its possible to get approved for co-branded cards despite 5/24 if you say the right things to the rep. I got the feeling that the first rep pegged me as a rewards chaser and I think that's the real reason I was denied. 5/24 didn't prevent me from being auto-approved for the Hyatt and I'm pretty sure I could lower the CL on the Hyatt and get auto-approved for the IHG in a couple months if I wanted to. My advice to those who aren't auto-approved is to come up with some non-rewards based reasons for wanting the card that your applying for, as well as some non-rewards based reasons for having a lot of recent open accounts.

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I've been lurking around for a bit now and thought I should contribute a couple of data points. Background: FICO ~790, been banking with Chase since they bought WAMU and have had a Slate since 2006 (my oldest card).

Recent cards:
Capital One Venture (Don't hate, I wasn't privy to this hobby back then :p) 07/13
Citi AA Personal 05/14
Barclay's US Air Personal 01/15
Chase SW Personal 02/15
Amex PRG 04/15
Citi Prestige 06/15

Applied for the CSP on August 5th and got the pending application response. Based on my math I had exactly 5 in 24. Denial letter arrives 3-4 days later citing too many recent cards in the last two years. I called them up even though there have been reports of calls not going particularly well for certain individuals. I got a pretty nice CSR who kindly explained that there was nothing she could do to reconsider and cited the same reasoning. I tried to press her to give me the exact number of cards that would trigger the denial, but she wouldn't say. She was particularly helpful in reinforcing that this "new policy" is being applied to only Chase branded cards and went on to cite the CSP, Freedom and Slate specifically. It was almost like she was encouraging me to apply for a co-branded card.

Coincidentally in July I had received a targeted 50k Chase United Personal offer in the mail. I decided to apply on 08/17 and the app went to pending. I haven't received any notification from Chase, but I logged into my account yesterday and saw the United card in my account with a massive $27.9k line, haha good times :D

Since the PRG is a charge card (which seems to have been excluded from the count in previous cases), I'm wondering if you're an AU on anyone else's card. In the alternative, I suppose it's possible the CapOne card fell right on the cusp & counted as your 5th card.

All useful info, and fully consistent with the consensus view. Thanks for sharing.

Thanks for the data point. Based on the fact that the rep only mentioned the personal cards I may decide to spring for the Ink. I've been contemplating it but didn't want to risk a HP for nothing.

As a data point for those with lower credit looking for a Chase card...NOT in reference to the 5/24 rule...

I had a friend travelling soon who I recommended get a card with no foreign transaction fee on top of the fact he didn't have a points card at all. FAKO of 699, income around 40k, at least one mark for missed payments over 60 days, a card with a credit utilization somewhere over 60% (2.5k limit), but 0 inquiries in past 2 years. After hearing this, I then became very skeptical he'd get a CSP - or let alone should have another credit card - but he went for it anyway, and lo and behold; approved instantly with a 5k limit.

I guess for those who don't have the 5/24 rule to worry about, getting the CSP is little easier than before. Maybe because now they're issuing so many less...

Chase may be salivating at the potential late fees/interest.

I got the PRG card the normal charge card way. Later on, AmEx offered an add-on hybrid option to pay for larger value purchases over time on credit via the same card if I ever feel like it. Perhaps the PRG doesn't only report as a charge card if it sometimes functions as a credit card as well.

The previous data point with PRG is mine. I also had the CSP show up in card match so I may have made it in with the 'preapproved' exception rather than a 'charge card exception'. The pre-approved explanation actually seems more likely since charge cards look nearly identical an the credit report, and given they don't exclude AU cards, I'd be surprised if they excluded charge cards. But maybe worth a shot with recon!

Have you checked your credit report? Does the PRG report a credit limit (indicating credit card) or not (indicating charge card)?

I was at Chase branch recently and was told that I am pre approved for the Sapphire card. I have 8 new cards in the last 2 years and this I understand is now a reason for denial. Is it possible that the branch process may be more flexible when it comes to approving people with checking, savings accounts and other chase relationships? Should I apply or its a guaranteed waste of a hard pull?

:confused: I thought the consensus view on the rule was you couldn't get approved if you had MORE than 5 new accounts in 24 months, not if you just had 5 new accounts in that timeframe.

See http://www.flyertalk.com/forum/25321199-post286.html He was told "five" in "two years" and denied the CSP card.

I recall several posts where people reported approvals for in branch applications despite not qualifying under the 5/24 rule. It seems that Chase does have exceptions and if you're pre-approved I think you'd have a good shot. A few months ago but after the 5/24 rule came about, I was told that I was pre-approved for the CSP in branch as well. I applied for the Ritz Carlton instead, and when I check to see if I was still pre-approved a few days later the pre-approval offer was gone. To me this suggests that they Chase updates their pre-approvals based on current information, so I would think you're good to go. I should have taken the pre-approval when I had the chance, now I'm just waiting for it to appear again.