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Do Car Loans Count Towards Chase 5/24 Rule?
Do car loans count towards Chase 5/24 credit card rule?
I had a car loan earlier this year and it’s showing up under new accounts in my Capital One Credit Wise report.
I am thinking about signing up for the Chase Sapphire Preferred but want to make sure that my car loan won’t impact my 5/24 score.
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2 Replies
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No, auto loans only show up on your credit report just like any loan would but it’s not in the 5/24 calculation.
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No car loans and mortgages DO NOT COUNT towards 5/24.
Only credit cards count towards the Chase 5/24 rule.
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