Anonymous asked in Business & FinanceCredit · 2 months ago

Chase 5/24 rule for Credit Card?

I have been Chase bank member with a Checking and Savings since June 2017. I want to get their Chase Freedom card but don't want to get rejected because because of the 5/24 rule on Inquiry. 

I currently have 4 inquiries on my Report which we position me of 4/5. 1: Denied from chase last time I applied for the card (This is when I had 0 credit history) 2: Denied from Best Buy. 3: AT&T Internet Bill. 4: 682 5 Month credit score with Bank of America. Chase told me to apply again starting 2021. My main question is if my AT&T bill and BofA card would actually count as an inquiries. would that position me at 2/5. Can someone explain that 5/24 rule more clearly.  I know that 24 is 24 months  

1 Answer

  • Anonymous
    2 months ago

    at&t bill have nothing to do with your credit. Sounds to me like you need to STOP applying for at least a year. Maybe 2. One credit card is plenty.

Still have questions? Get your answers by asking now.