Tag: Equifax

With the announcement of Chase extending their infamous “5/24 rule” to extend to all co-branded and business cards, there has been a lot of discussion about what to do in the interim before the rule takes effect and what to do after the hammer falls. For those who are unfamiliar, the 5/24 rule is that Chase will not approve you for a card if your credit report shows more than five new accounts in the last two years. This was designed to weed out applicants who ‘churn’ their cards for the signup bonuses without adding meaningful value to Chase as customers. Continue reading →