Tip: Remove an Authorized User account from your credit report to dip under 5/24

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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

1. 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.
2. 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 Specialist

   1-800-436-7927

It took about a week after faxing in the document for the account to no longer be shown on her credit report