Everything You Need to Know About The Chase 5/24 Rule

Steve Cummings

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Chase 5/24 Rule

Credit cards can open the world of travel, cash back, and many more rewards. The issue is what happens if you open too many at once. In 2015, there were applicants with excellent credit getting denied by Chase. The reason, they opened up too many credit cards in 24 months. 

The Chase 5/24 Rule had been implemented. Chase does not say they have this rule, but it is a good rule to follow if you are applying for cards and plan to apply for a Chase card. 

What is the Chase 5/24 Rule?

The Chase 5/24 rule is that if you have opened up five or more credit cards in the last 24 months, you will not be allowed to apply for a Chase card. That means applying for a Chase card before you have five new accounts in 24 months would be best. 

Credit scores and banks track to see how many new accounts you open. To protect themselves from people who want to game the system, Chase has an unspoken rule to help keep their credit card game profitable. 

Everything takes planning and execution, and Chase doesn’t like those who work on gaming the system. These are personal accounts to be opened and not referring to business credit cards. 

So Does the Chase 5/24 Rule Affect Business Cards?

It is confusing, so it is a yes and a no. If you have five new accounts opened on your credit in 24 months, Chase will most likely reject your application for a new card with a business account.

The confusing part is that if you are under the 5/24 rule, you can open up many more business credit cards, and that will not be reflected on your personal credit limit. So if you have opened four cards in the last 24 months, then you can still open up a business credit card with Chase. It will still be 4/24. 

Which Cards Are Subject to the Chase 5/24 Rule?

All of the Chase cards are subjected to the 5/24 Rule. It was only sometimes like this. As time passed, Chase expanded many of its co-branded and personal cards. 

Here is a list of some of their travel cards and co-branded cards:

  • Chase Sapphire Preferred (Review)
  • Chase Sapphire Reserve (Review)
  • Chase Freedom Unlimited (Review)
  • Chase Freedom Flex
  • United Explorer Card
  • Southwest Rapid Rewards Priority Card (Review)
  • British Airways Signature Visa
  • Aeroplan Credit Card
  • Aer Lingus Signature Visa
  • World Of Hyatt Credit Card
  • IHG Premier Priority Card
  • Marriott Bonvoy Boundless Credit Card

Chase Sapphire Preferred

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Here are the Chase business credit cards that are subjected to the Chase 5/24 Rule:

Just because a Chase credit card is not on this list, assume it is subjected to the 5/24 rule. 

How Can I Check My Chase 5/24 Status?

One of the easiest ways is to look up your credit report. Your credit report can be found with companies such as Experian or Credit Karma. These reports will show the number of card accounts you have opened in the past 24 months. 

When applying for these major credit cards, you will need some credit. Good credit goes a long way to earning the points and bonuses needed for cash back, travel rewards, or even free travel. If you have a credit score of above 700, that is good to get approved for these cards. 

Knowing where you stand on your credit card strategy allows you to take advantage of any future offerings that Chase may give out. Recently this year, the Chase Sapphire Preferred had a whopping bonus of 80,000 Ultimate Rewards points; if you were over 5/24, that would not be a card you could apply for. 

Bottom Line

Planning is everything when applying for credit cards. It is best to be strategic to take advantage of opportunities to shop with Chase. Chase can choose to have you as a customer or go along and cancel the cards. If you are a travel hacker and use credit cards for your strategy, beware of opening too many cards within a few months of each other. It is better to play by the rules instead of being burned. 

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2 thoughts on “Everything You Need to Know About The Chase 5/24 Rule”

  1. Hi Steve, interesting, I wonder why Chase does this? I tend to stick with one once I’m happy with them for years. I wonder if they charge higher interest the more you change credit cards. That would make sense so you have a reason to stick with a company for a longer amount of time. I never understood why businesses gave better deals to new clients vs. the older ones that they should cherish.

    • Hi Lisa, I totally agree with you. I have asked for retention bonuses before and some cards have said no, but are willing to give big bonuses to those new customers. I just picked up the Capital One Venture X that does give 10,000 miles back on the anniversary day so that is not a bad retention bonus for them. If credit card companies worked on loyalty then they would have a better way to retain customers.


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