Update: CreditKarma changed their layout. Here’s the NEW way to check your 5/24 status using their website!
It’s now tougher to be approved for most Chase cards if you’ve opened ~5+ cards from any bank (except these business cards) in the past 24 months. This new stricter application rule has been dubbed the “5/24” rule.
So if you want to apply for a Chase card, can you check to see how many accounts you’ve opened over the last 24 months?
Yes, and it’s simple!
I’ll show you how to check your 5/24 status!
Step-by-Step: Check Your 5/24 Status
Link: Credit Karma
Chase has some of the best travel credit cards, but they also have stricter application rules. And if you’ve opened ~5+ cards from any bank (except non-Chase business cards) in the past 24 months, it’s unlikely you’ll be approved for most Chase cards.
There are 6 Chase cards that are not restricted by these new requirements. But some of the best Chase cards, like the Chase Sapphire Preferred and Chase Sapphire Reserve, ARE restricted by these rules. So it’s important to know how many cards you’ve opened in the last 24 months.
The good news is, it’s easy (and free!) to see how many credit cards you’ve opened with Credit Karma.
If you don’t already have a Credit Karma account, it’s easy to sign-up. It takes ~2 minutes, because they will ask you a few questions to confirm your identity. Otherwise, you can sign-in to your existing account.
Credit Karma uses information from your Equifax and TransUnion credit bureaus. But it doesn’t matter which credit bureau they use because new personal credit cards show up on all three of your credit bureaus.
Step 1 – Sign-In
Click “Log In” at the top right-hand corner of Credit Karma’s homepage to access your account.
Enter your email address and password, then click the “Log In” button.
Step 2 – Go to Your Credit Reports
After you’re logged in, you’ll be able to see your scores from both TransUnion and Equifax. But to see the details of the reports, click the “Credit Reports” tab.
Then scroll down to find your accounts information.
Step 3 – Find the Number of Credit Cards on Your Credit Report
Scroll down to the Accounts section, and click on “Credit Cards.”
The number of credit card accounts shown should be similar between the 2 reports. If they aren’t, check both reports to make sure there isn’t any bad information on 1 of the reports. Usually this just means 1 credit agency is reporting new accounts quicker than the other.
Step 4 – Sort Your Cards by Open Date
Click “Open Date” twice to sort your cards from newest (opened most recently) to oldest.
Step 5 – Count the Number of Cards Opened in the Last 24 Months
Once your cards are sorted, you’ll be able to count the number of cards you’ve opened in the last 24 months by scrolling through the list.
Keep in mind, if you’ve opened a card in the last ~30 days, it may NOT show up on your Credit Karma report. And even if a card is closed, it WILL count against 5/24.
Do Business Cards Count?
Also, these business cards do NOT count against the 5/24 rule. That’s because in general, business credit cards usually don’t appear on your personal credit report. However, if a business card appears on your credit report, it will count against the 5 card limit.
Also, Chase knows how many CHASE business cards you have. However, most of the evidence suggests that Chase doesn’t count there own business cards towards the 5/24 rule.
And don’t forget, AnnualCreditReport.com will give you a free credit report from all 3 credit bureaus once every 12 months.
Although it won’t include your actual FICO score, it will show you the date each of your accounts were opened. Here’s my post on how to easily found out credit card open and close dates.
With Chase’s stricter application rules, dubbed “5/24”, if you’ve opened 5 or more credit card accounts from any bank (except for these business cards) in the past 24 months, it’s VERY UNLIKELY that you’ll be approved for most Chase cards.
Luckily, there’s a free and easy way to check the open dates of your cards with Credit Karma. And you’ll be able to check your 5/24 status by counting the number of cards you’ve applied for over the last 24 months.