Million Mile Secrets reader, Ryan, commented:
Does the Chase “5/24 rule” only apply to inquires for credit cards or also other loans as well? I have 4 credit inquires in the past 24 months, including 1 loan and 3 credit cards.
Also, are there any free reliable tools to count credit inquiries?
Great questions, Ryan!
Only new credit card accounts count toward Chase’s “5/24” limit. So if you’ve opened 5 or more new credit cards (from any bank) in the past 24 months, you will NOT be approved for most Chase cards.
Additional credit inquiries for loans or declined card applications don’t count toward Chase’s 5/24 limit. That said, all banks review your credit report. And too many inquiries could impact your chances of getting approved for new cards.