Important Card Rumor Is Now a Fact

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Our worst fears have been confirmed.

The Chase Sapphire Reserve is the most exciting travel rewards card I’ve seen in a long time.  And via Doctor of Credit, this card falls under Chase’s strict new application rules. 🙁

Chase 5/24 Rule

It’s True! The Chase Sapphire Reserve Is Subject to the “5/24 Rule”

I’ll remind you of the rules, and tell you what you can do.

Strict Chase Rules Apply to Chase Sapphire Reserve

If you’ve opened 5 or more credit cards (from any bank) in the past 24 months, it’s unlikely Chase will approve you for some of their cards, like the Chase Sapphire PreferredChase Freedom, or Chase United Explorer.

And now, Chase has officially applied these rules to the Chase Sapphire Reserve.  After you click apply, you’ll see the dreaded “5/24” language near the bottom of the application box.

Chase 5/24 Rule

One of the Best Travel Credit Cards in Years Will Be Difficult to Get for Many of Us in the Miles & Points Community

This is bad news for a lot of folks in the miles & points world.  That’s because most of us have opened a lot more than 5 cards in the past 2 years!

Not all Chase cards fall under this rule.  There are still 6 credit cards you can be approved for if you’ve opened more than 5 cards in the past 2 years, like the Ritz-Carlton Rewards card and the Chase Hyatt.

If you want the Chase Sapphire Reserve but don’t want to stop applying for cards, consider applying for small business credit cards instead of personal credit cards for the next couple years!

Some business cards do not show up on your personal credit report, so they won’t count against the Chase “5/24 rule”.  And you might even qualify for a small business card without even knowing it!

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16 responses to “Important Card Rumor Is Now a Fact

  1. if my 5/24 ends august and on September i will be 3/24 when do you think is the earliest i could apply?

    September 1st or would you give it a few days?

  2. Give it a few days, John.

  3. Does anyone know how much your credit score needs to be in order to apply for the reserve card?

  4. I applied online, turned down for too many cards open in the last 24 months, ( 6). Went into my Chase branch where I have several accounts, asked if I was pre-approved for any cards, I was told I was pre-approved for any card Chase offered. ( I currently have 7 chase cards and my Fico is 810. ) The banker applied for the reserve card and I was instantly approved with a 30K limit, and told to expect the card in 5-7 days. Later that afternoon the card showed up on my online account homepage. Pretty cool.

  5. @Dick A are you a private client member? MY CSP annual is due in December and I’m at 8/24 now so I would like to swap the CSP for the CSR but don’t want to risk getting rejected. I have one BA with chase so I might stop in to see if I am pre approved.

  6. @ Captain Hooks, not private cient, just personal and business accounts.

  7. I am two and a half hours drive from the nearest chase branch, so before driving there I decided to call and check if I’m preapproved. I spoke to a banker over the phone, explained that I am 120 miles from the branch. She confirmed that I’m preapproved for CSR and… “Would you like to apply over the phone so you won’t have to drive?” I explained that I don’t qualify under 5/24 rule and so need to make sure she does in-branch application. She was well aware of the rule, verified some security info, asked for my income and 5 seconds later “you are approved and will receive your card in 5-7 days”. She saved me 5 hours of driving!
    And no, I’m not a CPC

  8. @ Andy do you have any accounts with Chase (other than credit cards)?

  9. How do you know when you opened your credit cards? I don’t remember which/how many cards I opened in the last 2 years and which I opened more than two years ago.

  10. Lisa, you can check through creditkarma.com. Free.

  11. @Andy, how did you get preapproved? Did you have to provide information first, or did the person just look up your SS#?

  12. Still not answered – appreciate some insight on this. I understand that the annual fee will charged on the first statement itself. To avail 2016 travel credit, one should post the transaction by December end. Assuming the next annual fee should not hit before August or worse case scenario July so to avail 2017 travel credit one should post the transaction prior to July / August annual fee timing. Is my understanding correct?

  13. I applied on line for the CS Reserve card and was not approved, went to my local Chase bank where I have 4 accounts and my banker said I was pre approved, we did the application there at the bank and it went through, myself and my banker assumed I was approved, this week I got a letter from Chase saying I was not approved, too many cards in the last 24 months, My guess , my days of applying with Chase are over unless I don`t apply for anything during the next 2 years, and even at that, I`m not certain unless something changes

  14. I really do not like chase! What’s the point of an 800 credit score if you can’t get approved…. Ughhh, I have the Ink, and 4 other chase cards, but can’t get the Sapphire, or the Reserved, or the Freedom for that matter. I hate you chase!

  15. @Andy did you already have Chase accounts open other than credit cards? What branch did you use?

  16. I was finally able to get approved for the chase sapphire reserve today when I applied at the chase branch. Let me give you guys some info since I think this may be helpful for you. I applied online last week and I got the message we all fear “you application is pending further review”. After two days I called the reconsideration line and I was told the bad news: my application was denied because I had opened 6 credit cards in the last 24 months. At this point I thought that I would not get the opportunity to get this great card. So I just let it go. Today I went to the bank to make some deposits (I hate the machines that chase uses now so every time I am told to use the machines I always refuse to use them) after the teller completed my transactions she told me that if I knew that I was preapproved for a chase credit card and I told her that I was denied a credit card last week so she advise me to talk to a personal banker since my chase business relationship could help me. I talked to the personal banker and she indeed told me that I was preapproved for the chase sapphire reserved and she ask me if I was willing to apply again, I was hesitant because I knew they were going to pull my credit report again but I thought this could be my last chance to take advantage of the 100k ultimate rewards so I accepted and thirty seconds later boom!!! I was approved :).

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