9 Chase Credit Card Rules EVERYONE Should Learn Once And For ALL

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  • Опубликовано: 26 ноя 2024

Комментарии • 69

  • @damionkibler3493
    @damionkibler3493 Месяц назад +5

    I work for chase and he is right but only on the business side and you need to be making a certain income to even meet with a Relationship Manager.. but they override the 5/24 rule and they have the ability to apply for a specific credit limit of your choosing

  • @israelnieves2817
    @israelnieves2817 Месяц назад +6

    Thanks for giving some great examples. That was very informative and helpful.

  • @TheUsflow
    @TheUsflow 6 дней назад +1

    Can mailers defeat 5/24? And I doubt it, but what about mailers addressed to a former resident of my address? I get mailers for Ink cards targeting the previous resident's LLC. I also got mailers for my LLC but I think they are all expired.

    • @MarkReese
      @MarkReese  5 дней назад +1

      I don't have data to suggest an answer. My best guess is 'likely not.' I receive mailers all the time for cards I'm ineligible for.

  • @JeremiahBronx
    @JeremiahBronx 17 дней назад +2

    Mark would be a good middle school teacher.

  • @tattooguy5586
    @tattooguy5586 Месяц назад +9

    This rule is true, however, if you use a bank relationship manager to get your CC the bank rules no longer apply. Just thought everyone could get some info from that.

    • @shawn.credit
      @shawn.credit Месяц назад +1

      Do you walk into Chase and ask for a supervisor or bank Manager? In my case I’m LMFAO/24 so I doubt that would work in my case but it’s possible I guess.

    • @MarkReese
      @MarkReese  Месяц назад +3

      Does that hold true 100% of the time for all people?

    • @michaelkim2147
      @michaelkim2147 Месяц назад +1

      I call BS on this guy. But if your dad's the CEO of Chase then maybe he can work it out. hahaha

    • @tattooguy5586
      @tattooguy5586 Месяц назад

      @michaelkim2147 no tough guy. You can walk in and ask for a bank relationship manager. Not that hard. But since you know it all it seems.....🤡

    • @tattooguy5586
      @tattooguy5586 Месяц назад

      @MarkReese all people, I can't say for everyone. But for most from what I've seen. It's not an instant approval process however, it may take 1-3 weeks but they can work around bank rules. Goes for Chase, BOA, and Amex from what I've seen so far.

  • @sammyk987
    @sammyk987 Месяц назад +2

    If you get denied based on line of credit limit, is it worth calling and lowering credit limits on other cards? Is it better to lower credit limits before even applying if you suspect that would lead to a denial?

    • @MarkReese
      @MarkReese  Месяц назад +1

      If that means the bank has already extended you the maximum amount of credit, then yes, it can be worthwhile to request a credit-limit decrease on a card / cards prior to applying for more. I've done it myself.

  • @giocardenas12
    @giocardenas12 Месяц назад +4

    I have a question, when you upgrade a credit card it count as a new open card?

  • @Bangpaulxu
    @Bangpaulxu Месяц назад +2

    Really great informative video!!! ❤❤❤ thank you Mark!!!!!

  • @iFrankie.
    @iFrankie. Месяц назад +1

    Chase trifecta worth having ? I’m at 3/5 have CSP & Two Capital One

    • @MarkReese
      @MarkReese  Месяц назад +1

      I'd say the Chase Trifecta is worth having if you want the best 'hybrid' setup that works well for travel and cash back. Chase has the best overall program in my opinion.
      If you prefer cash back rewards, I'd go with Citi.
      If you prefer advanced travel (i.e. the transfer partner game) and can make sense of more complicated benefits, then that's where Amex would come in.

  • @Pazman1969
    @Pazman1969 Месяц назад +3

    finally broke the 5/24 rule. 😊

  • @navyvet05
    @navyvet05 Месяц назад +2

    Just wanted to let everybody know that the 5/24 is not a set in stone rule. I applied for the chase freedom flex and got approved at 5/24. Discover denied me at 5/24 but not chase.

    • @FrequentFlyer_MIA
      @FrequentFlyer_MIA Месяц назад

      Same, I just applied and received a Chase FF after applying for and receiving 5 credit cards (Chase Bonvoy, CSP, Citi AA Plat, AMEX Delta Gold /Plat) over a 1 to 2 month period of time...on second thought may be due to the fact that some of the cards probably didn't hit my report yet.

  • @jimmyjames6492
    @jimmyjames6492 Месяц назад +2

    Thanks for the info + video!

  • @shvt10
    @shvt10 Месяц назад +1

    Are co-branded cards, such as Capital one Walmart card, included in 5/24 rule?

  • @B1970TBronze
    @B1970TBronze 26 дней назад +1

    Great info as per the usual

  • @MissBellaMe
    @MissBellaMe Месяц назад +1

    I noticed that you didn't use any of the personal Amex metals in your examples...is there any reason why? Since they are charge cards, do they not count?

    • @MarkReese
      @MarkReese  Месяц назад +1

      Didn't think of it. They do count.

  • @adarshshankar5867
    @adarshshankar5867 Месяц назад +2

    could you do a similar video for capitol one?

    • @MarkReese
      @MarkReese  Месяц назад +2

      Already did here: ruclips.net/video/EMIO5BWta_I/видео.htmlsi=iFDMsfBgdJQxhNpz

  • @gregb5876
    @gregb5876 Месяц назад +2

    Did you mention being an authorized user on someone else's credit card? Does that count against 5/24?

    • @jeromedrew
      @jeromedrew Месяц назад +2

      It counts initially because the algorithm can’t differentiate AUs from primaries. Thus when denied, don’t take it as the final decision. Call the recon line and a specialist will disregard those AU accounts from your 5/24 and potentially do a manual approval.

    • @MarkReese
      @MarkReese  Месяц назад +4

      No I forgot to mention that. Yes, AU cards count against 5/24 per Chase's computer system. However, if the only reason you're above 5/24 is due to those AU accounts, you can still apply, get denied, and then call the reconsideration line to have the decision overturned.

  • @nowellclay1283
    @nowellclay1283 Месяц назад +1

    I Am going to wait a little but i am thinking about the reserve card

  • @charleswheat3251
    @charleswheat3251 Месяц назад +1

    If I have the Ritz Carlton card, can I still get the Marriott Bonvoy boundless?

    • @MarkReese
      @MarkReese  Месяц назад +2

      Yes. Here's a helpful chart: frequentmiler.com/marriott-card-eligible/

  • @rambosidi7634
    @rambosidi7634 Месяц назад +1

    Great information thank you

  • @alolansandshrew1756
    @alolansandshrew1756 Месяц назад +1

    Another problem with the 5/24 rule is it's not clear when you actually fall below 5/24 status. On the two-year anniversary? The day after? The first day of the following month?

    • @todd7148
      @todd7148 Месяц назад +1

      The day after specifically 12:00 EST as chase is on EST. Yes I tested it

    • @MarkReese
      @MarkReese  Месяц назад +2

      I don't know objectively if it's the same for all people since billing cycles vary. I'd personally wait until I saw a 2-year age reflected on my credit report. I would not apply on the exact 2-year anniversary date.

    • @alolansandshrew1756
      @alolansandshrew1756 Месяц назад +2

      @@MarkReese Happy to report that I made an attempt at applying the morning after the anniversary of my 5th most recent approval and the application was successful! I have always been skeptical of the "wait until the first of the following month" advice since no one has brought the receipts saying they were denied. I assume Chase's algorithm, when pulling a fresh credit report, can correctly subtract dates and determine if the two-year threshold has been met. I hope this comment is useful/helpful to you, other content creators, and any folks reading this =).

    • @MarkReese
      @MarkReese  Месяц назад +1

      @@alolansandshrew1756 - Congrats!

  • @SK8R729
    @SK8R729 Месяц назад +1

    Could you do this for C1 specifically VX

    • @MarkReese
      @MarkReese  Месяц назад +1

      Potentially for Capital One. Not for a specific card.

  • @GoldenRuleHomes
    @GoldenRuleHomes Месяц назад +1

    Since C1 business cards report to personal - how does that impact 5/24?

    • @shawn.credit
      @shawn.credit Месяц назад

      It would count as a new account towards 5/24 so grab the Chase card first.

    • @MarkReese
      @MarkReese  Месяц назад +3

      Not all Capital One business cards report to personal. For the ones that do, they will increase your 5/24 count.

    • @shawn.credit
      @shawn.credit Месяц назад +1

      @@MarkReese True 1-2 of them don’t report to personal side.

  • @timothymoore1791
    @timothymoore1791 Месяц назад +1

    Thank you so much thank you so

  • @darkmold7597
    @darkmold7597 Месяц назад +3

    Got denied cuz my Chase balance was too low.... Obliterating sentence they uttered

    • @MarkReese
      @MarkReese  Месяц назад +1

      Meaning your checking account balance?

    • @darkmold7597
      @darkmold7597 Месяц назад

      Ya. I wonder how long should i wait to reapply ​@@MarkReese

  • @theblackholecreator
    @theblackholecreator Месяц назад +1

    If it doesn't show up on your Credit Report how do you know if someone isn't opening cards into your names behind your back and how can you find out?

    • @MarkReese
      @MarkReese  Месяц назад +2

      You'd likely see the account in your online bank profile, and I personally use an identity monitoring service (Aura).

  • @yeyem6678
    @yeyem6678 Месяц назад +2

    I applied on chase and i opened up 6 cards within 24 months and i got approved. Reason i dared to apply bec i was pre qualified for chase amazon.

  • @Chevy2Tyme
    @Chevy2Tyme Месяц назад +2

    $0 annual fee Sapphire? 12:58

    • @MissBellaMe
      @MissBellaMe Месяц назад +2

      that's what i said lol. i have the preferred and it's $95/month

    • @MarkReese
      @MarkReese  Месяц назад +2

      Correct. See this video: ruclips.net/video/13aXO_MLKHA/видео.htmlsi=np30yYLuNq1vIO2X

    • @MarkReese
      @MarkReese  Месяц назад +2

      @@MissBellaMe - Correct. See this video: ruclips.net/video/13aXO_MLKHA/видео.htmlsi=np30yYLuNq1vIO2X

    • @franciscanstudent
      @franciscanstudent Месяц назад +1

      I looked for it. It's either fictional or discontinued as a publicly offered product.
      I have a vague memory of such a thing being advertised over a decade ago.

    • @franciscanstudent
      @franciscanstudent Месяц назад +1

      ​@@MarkReese
      aha! It sounds like it's no good compared to freedom unlimited or freedom flex, though.

  • @vgshwk
    @vgshwk Месяц назад +2

    And if you are a good customer after the 24 months they will be throwing offers at you and you tell them to F off

  • @SOXGATORS
    @SOXGATORS Месяц назад +1

    👍🏻