Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Barclaycard, Capital One, Chase, Citibank and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners. Here’s our Advertiser Disclosure.
While there’s no official word from Chase about this change, I’ll share what I know and what this means for you.
What’s Going On?
Dubbed the “5/24 rule,” if you’d opened ~5 or more credit cards (from any bank) in the past 24 months, it was very unlikely that you’d be approved for these cards.
There were rumors that the 5/24 rule would soon apply to Chase small business cards like the Ink Plus. And to co-branded airline and hotel cards, like the Chase Hyatt, Chase IHG Rewards, and Chase United MileagePlus® Explorer cards.
Unfortunately, this now seems to be the case. But only for their small business cards and SOME of their co-branded cards.
Folks are reporting the changes probably went into effect on May 22, 2016, based on when Chase started denying more applications.
Which Chase Cards Are Affected?
According to Doctor of Credit, the 5/24 rule now also likely applies to the following cards:
- Chase Ink Plus
- Chase Ink Cash
- Marriott Rewards® Premier Credit Card
- Marriott Rewards® Premier Business Credit Card
- Southwest Rapid Rewards® Plus Credit Card
- Chase Southwest Premier (personal and small business)
- Chase United MileagePlus Explorer
- Chase United Club
But NOT to these cards:
- Chase IHG
- Chase Hyatt
- Chase Ritz-Carlton
- Chase British Airways
- Chase Disney
- Chase Fairmont
- Chase Amazon
- Chase AARP
What Does This Mean for You?
If you’re new to our hobby, consider getting cards like the Sapphire Preferred or Ink Plus first. Because they are some of the most valuable cards for Big Travel with Small Money.
Folks who’ve been collecting miles & points for a while generally open more than a few new credit cards each year.
If you haven’t kept track of your past credit card applications, read my post on how to find credit card open and close dates.
If you’ve opened ~5 or more credit cards (from any bank) in the past 24 months, you probably will NOT be approved for certain Chase credit cards. This includes the Ink Plus, Chase Marriott cards, and Chase Southwest cards.
Although this is NOT official news from Chase, folks are reporting more denials.
Have you recently been affected by Chase’s new stricter application rules?