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Important Card Rumor Is Now a Fact

Important Card Rumor Is Now a Fact

Million Mile SecretsImportant Card Rumor Is Now a FactMillion Mile Secrets Team

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

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 MileagePlus® Explorer Card.

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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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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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 :).

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

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!

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

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?

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