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How to use CreditKarma.com to see when you opened accounts
There has been a lot of chatter lately about Chase’s supposed 5/24 rule. If you aren’t familiar with 5/24, it restricts you from getting an approval on a new Chase card if you’ve opened more than 5 cards in the last 24 months. Is it enforced? Who is it enforced on? The debate could go on and on, but the thing we do know is that there is some of evidence to support applications being denied due to recently opened accounts. So how do you see how many applications you’ve opened and when you will dip back below the 5/24 threshold? I use creditkarma.com to keep an eye on my credit and I’ll show you how to use creditkarma.com to see when you opened accounts.
If you don’t have a creditkarma account…get one, it’s freeeeee!
You should be keeping an eye on your credit and this is my go to site to do just that. If you have one already, good on ya. If not…stop reading and sign up.
Log in: Check out the left column
You’ll then see your credit scores pop up
Click on either report, I clicked on TransUnion. Organize by Open date
While inquiries won’t show up on individual reports unless pulled, opened accounts will who across the board.
You can now start counting backwards
Ya…gonna be a little bit before I’m under 5/24
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Does the 5/24 count non-Chase cards? I just applied for the Reserve card in-branch and was approved $35,000 limit. Since September of 2014 I’ve applied (& been approved) for 1 Baclays, 4 Amex, 1 Chase, 1 Pnc, & 2 Citi cards. That’s 9/24. Only 1 of those was in the last 12 months though. I have some cash on deposit there, but not Private Client. Just wondering if the 5/24 is somewhat subjective based on banking relationship and when those 5 cards were applied for in teh 24 month period.
Hey Shaun – great question and CONGRATS!!!!!!…so 5/24 counts on all opened accounts not those limited to Chase. However, if you have business cards outside of Chase ( because they can obviously see those opened with Chase ) it appears that they don’t count – at least those from Amex. But wow man, great going! Did you use the pre-approval technique?