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Our worst fears have been confirmed.
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 Preferred, Chase 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.
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!