Navigating the credit card application process requires an awareness of Chase’s 5/24 Rule, an unwritten but very important rule.
The Chase 5/24 rule disqualifies applicants from obtaining most new Chase credit cards if they have opened five or more personal credit card accounts with any issuer in the past 24 months.
Understanding this rule is essential for optimizing their credit strategy and taking advantage of Chase’s credit card offerings.
What is the 5/24 rule?
The Chase 5/24 rule is that you will not be approved for certain Chase credit cards if you have opened five or more personal credit card accounts within the past 24 months, even if you have perfect credit.
This rule is designed to limit the approval of new accounts for individuals who frequently apply for credit cards to earn sign-up bonuses.
What Cards Count Towards Your Chase 5/24 Status?
The accounts that count towards your 5/24 status with Chase include:
- Any personal credit cards from any bank opened in the last two years, including those you’ve since closed.
- Business cards from Discover, TD Bank, and most Capital One small business cards (excluding Capital One Spark Travel Elite and Capital One Spark Cash Plus) opened within 24 months.
- Cards where you’re an authorized user on someone else’s personal card within the past two years, as these appear on your credit report. However, you may contact Chase’s reconsideration line to request the exclusion of these accounts.
- Certain retail cards obtained in the past two years that are usable across various merchants, and possibly even store-specific cards, if they appear on your credit report.
Accounts That Don't Count Towards the 5/24 Rule
Accounts that do not affect your 5/24 status include:
- Credit card applications that resulted in a denial (since only opened accounts are counted, not mere inquiries).
- Most small business cards from issuers other than the specific exceptions previously mentioned.
- Other types of credit like auto loans, student loans, and home mortgages.
What Cards are Subject to the Chase 5/24 Rule?
Almost all of Chase’s credit cards are subject to the 5/24 Rule. The following are cards reported to be subject to the 5/24 rule:
- Aer Lingus Visa Signature® Card
- Aeroplan® Credit Card
- British Airways Visa Signature® Card
- Chase Freedom Flex℠
- Chase Freedom Rise
- Chase Freedom Unlimited®
- Chase Sapphire Preferred® Card
- Chase Sapphire Reserve®
- DoorDash Rewards Mastercard
- Iberia Visa Signature® Card
- IHG One Rewards Premier Business Credit Card
- IHG One Rewards Premier Credit Card
- IHG One Rewards Traveler Credit Card
- Ink Business Cash® Credit Card
- Ink Business Preferred® Credit Card
- Ink Business Premier℠ Credit Card
- Ink Business Unlimited® Credit Card
- Instacart Mastercard
- Marriott Bonvoy Bold® Credit Card
- Marriott Bonvoy Boundless® Credit Card
- Marriott Bonvoy Bountiful™
- Prime Visa
- Southwest Rapid Rewards® Plus Credit Card
- Southwest Rapid Rewards® Premier Credit Card
- Southwest Rapid Rewards® Priority Credit Card
- Southwest® Rapid Rewards® Performance Business Credit Card
- Southwest® Rapid Rewards® Premier Business Credit Card
- United Club℠ Infinite Card
- United Gateway℠ Card
- United Quest℠ Card
- United℠ Business Card
- United℠ Explorer Card
- World of Hyatt Business Credit Card
- World of Hyatt Credit Card
How Do I Check My 5/24 Status?
The best way to count the number of cards that count towards your 5/24 status is to review your credit report. I check mine for free via Credit Karma. Once you create an account, click “Credit Age” and review the number of accounts that are under 2 years old.
The Verdict
The Chase 5/24 Rule is a pivotal factor in the credit card application process for consumers looking to acquire new cards from Chase, particularly those interested in leveraging rewards programs.
This rule underscores the importance of strategic credit management, encouraging applicants to plan their credit activities with the foresight to stay within the acceptable range of new accounts.
Whether you’re a seasoned cardholder or new to the world of credit, keeping the 5/24 Rule in mind will help ensure that your path to obtaining a Chase credit card remains clear and achievable.
