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Tip: Remove an Authorized User account from your credit report to dip under 5/24
A lot of people have been affected by Chase’s 5/24 rule. If you’re unfamiliar with 5/24, it’s an unofficial rule whereby Chase will not approve you for a new credit card if you have opened more than 5 cards in the last 24 months. From any bank. Well, some people have Authorized User accounts on their credit report that are included in this 5/24 number. I recently helped a friend out with this problem. His sister was trying to apply for a Chase Sapphire Reserve, but he had added her to one of his credit cards as an Authorized User. So here’s an example of and a “how to” remove an Authorized User account from your credit report to dip under 5/24.
Here’s a look at the side by sides. Before (5/24) and After (4/24) the removal. We used Creditkarma.
FYI, You can still get a Chase Sapphire Reserve with the 100k bonus until March 12th. My buddy’s sister wanted to apply in-branch and wasn’t all too happy when she saw that his card was preventing her from getting under 5/24. He called me and we worked through the steps. As you can see…once we did the proper steps to get it removed, she fell under 5/24. She’ll apply in March to be safe, but I don’t think she’ll have any problems.
Notice the Chase card opened in Feb, 2016. Present on the left, gone on the right.
How did we do it? Here are the steps to removing a Chase Authorized User
- Have the account holder contact Chase. This can be done by calling the number on the back of your card…or via Secure Message. Have the account holder remove the Authorized user and request that the card be removed from the authorized user’s credit report.
- Once it’s removed you’ll receive an email similar to below. Have the authorized user fill out the information:
Dear ———,
Thank you for contacting Chase.
I confirmed ——— is not listed as a user on
your account ending in —- and is not liable for the
balance or payments.To remove the account from her credit report, please print
this email and have ———– complete and sign
the form provided below. You may mail this to Cardmember
Service, PO Box 15298 Wilmington, DE 19850-5298 or fax the
information to 1-888-593-8302.– – – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – –I am not a user on the account, and I hereby authorize the
bank to delete this account from my credit report:Full Account Number: ________ – ________ – ________
– ________Name To Be Removed: _____________________________________
Social Security Number: _______ – ______ -__________
Address:
_______________________________________________
_______________________________________________
_______________________________________________
Signature: _____________________________________________
If you need any other assistance, you can send us a secure
message. We appreciate your business and thank you for
choosing Chase.Sincerely,
————–
Customer Service Specialist1-800-436-7927
It took about a week after faxing in the document for the account to no longer be shown on her credit report
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
Welcome Offer
$300 Chase Travel℠ Credit + Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- $300 Chase Travel℠ Credit + Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
- That’s worth $750 when redeemed through Chase Travel℠. Plus, get up to $300 in statement credits on Chase Travel℠ purchases within your first year
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex® and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
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