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Chase 5/24 Rule: List of Cards Impacted (and Other Tips!)

Chase 5/24 Rule: List of Cards Impacted (and Other Tips!)

KeithChase 5/24 Rule: List of Cards Impacted (and Other Tips!)Million Mile Secrets Team

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Chase offers many terrific travel rewards credit cards, like the Chase Sapphire Preferred® Card (our #1 card pick for beginners).  But the bank also has strict application rules, which makes it difficult to get many of their cards if you open lots of new accounts.

Chase will NOT approve you for most of their cards if you’ve opened 5+ cards from any bank (NOT counting Chase business cards and other business cards) in the past 24 months.

Team member Keith is over the “5/24” card limit.  He’s patiently waiting to get below the limit, so he can earn valuable sign-up bonuses with Chase cards he doesn’t already have.

Chase 5 24 Rule
Thanks to Several Chase Card Sign-Up Bonuses, Team Member Keith and His Wife Have Enjoyed Big Savings on Trips to Places Like Sydney! So They’re Anxious to Earn Sign-Up Bonuses on More of Their Cards!

Keith:   My wife and I have been very selective with which credit cards we apply for.  Because we’re both on track to drop below the “5/24” level in May 2018, which means we’ll be eligible to get new Chase credit cards!

As a miles & points addict enthusiast, I don’t think I could completely stop applying for new cards.  That’s why my strategy has been to apply for cards that do NOT appear on my personal credit report.

When a card doesn’t show up on your credit report, Chase won’t see it either!  This means it will NOT count toward your 5 card limit.

Why Chase’s 5/24 Rule Is a Big Deal

Earning sign-up bonuses on Chase cards the past few years has allowed my wife and me to get Big Travel with Small Money, including an around-the-world honeymoon and a family trip to New Zealand and Australia.

We’ve taken advantage of great offers on these cards:

Chase 5 24 Rule
All of These Recent Accounts Have Made It Impossible for My Wife and Me to Earn Sign-Up Bonuses With Most Chase Cards!

But opening these accounts (and cards from other banks) means we’ve been unable to get approved for other Chase cards, like the Marriott Rewards® Premier Plus Credit Card.  And we can’t re-apply for Chase cards we’ve previously had to earn the sign-up bonus again.

Chase’s 5/24 rule applies to all of their credit cards except for the following:

There have also been reports that the 2 new Chase IHG cards are NOT subject to Chase’s 5/24 rule.

So if you’re over “5/24,” you might be able to get one of the above cards.  But your approval will also depend on your credit score and several other factors.  And you will NOT be able to get the following Chase cards:

My main motive for getting below 5/24 is to be eligible to earn 2 Chase Southwest credit card sign-up bonuses next year.  When you time it right, the sign-up bonus points from 1 personal and 1 small business Southwest card make it easy to earn the Southwest Companion Pass.

I’ve had the Companion Pass for 3 years.  It’s saved my wife and me thousands of dollars on flights to amazing destinations like Cabo San Lucas, New York City, and many more!  And Southwest will begin flying to Hawaii in late 2018, so it would be amazing to continue getting 2-for-1 flights!

Chase 5 24 Rule
The Southwest Companion Pass Is the Most Amazing Deal! That’s Why I’m Hoping to Sign-Up for Chase Southwest Credit Card Offers Next Year to Earn It Again!

Continue to Earn Sign-Up Bonuses If You’re Above 5/24

Link:   If You Don’t Know This AMEX Secret, You’re Missing Out!

To avoid opening new cards that count toward Chase’s 5/24 limit, my strategy has been to strictly apply for certain small business cards.  I qualify for business credit cards by selling items for a profit on eBay.  You can check out these 7 quick small business ideas if you’re looking for inspiration to make yourself eligible for valuable credit card welcome bonuses!

Business cards issued by AMEX, Bank of America, Barclays, Chase, and Citi do NOT appear on your personal credit report.

Chase 5 24 Rule
Business Credit Cards With Most Major Banks Don’t Appear on Your Personal Credit Report! So Chase Won’t Count These Toward Your 5/24 Limit!

Specifically, I’ve applied for the Bank of America Alaska Airlines Visa Business Card®.  Alaska Airlines miles are extremely valuable because you can use them to book award flights on partner airlines like Cathay Pacific.

But depending on your travel goals, you could also consider these cards if you’re over 5/24 and still want to earn a new cardmember welcome bonus:

The AMEX Business Platinum and Capital One Venture cards are an excellent choice for folks over 5/24.  Both cards offer big welcome bonuses and earn flexible rewards.  Plus, applying for the AMEX Business Platinum will NOT impact your 5/24 status because it’s an AMEX small business card.

How to Check Your Chase “5/24” Status

Link:   Go-To Guide With 4 (Easy!) Steps to Check Your “5/24” Status

If you’re looking to check how many credit cards you’ve recently opened, you can sign-up for a Credit Karma account.  It’s free and only takes a few minutes.

Here’s a step-by-step guide to using Credit Karma to count your recent card accounts.

Chase 5 24 Rule
Ugh! I Can’t Wait Until Some of My Accounts Get Past the 2 Year Anniversary!

Bottom Line

Million Mile Secrets team member Keith is anxious to drop below Chase’s “5/24” card limit.  He’s planning ahead to hopefully have an opportunity to apply for a personal and small business Southwest credit card in 2018 to earn the Southwest Companion Pass.

That said, he hasn’t completely stopped applying for credit cards.  He’s earned valuable sign-up bonuses with small business cards like the Bank of America Alaska Airlines Visa Business Card®.  Because business cards issued by most banks do NOT appear on your personal credit report.  So they don’t count toward Chase’s “5/24” card limit.

If you’re over “5/24,” I’d love to hear your strategy.  Are you waiting to drop below or just continue to apply for cards from other banks?

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Chase cardholders can check to see how many cards Chase thinks you’ve opened in the last 2 years here: https://www.chase.creditviewdashboard.com/CreditView/dashboard.page?enterprise=ChaseCreditJourney

Thanks for sharing Karey! That’s another great tool to use for monitoring your credit.

And you can also register even if you’re not a Chase customer!

I have a Chase Amazon Rewards Visa. Will this count towards my 5/24, or does the statement here simply mean that someone that is already at or above 5/24 can apply for a Chase Amazon Rewards Visa and still get approved?

I always get confused on this statement when I see it in the 5/24 Rule, “NOT counting Chase business cards and these other business cards.” Please let me know if my understanding is correct on this concept in my two examples. Example #1: Does it mean if I have applied for 5 non business cards in 24 month and approved on all of them, then applied for a Chase Ink Business card, I would get denied? Example #2: Within 24 months, applied for three non business cards and both Chase Ink Business cards and approved on all, then within the same 24 month applied for a CSP, I would get it because the Chase Business cards do not fall under the 5/24 Rule at this point. Or am I just completely still confused?

For example #1: Yes, you most likely would be denied for a Chase Ink Business card in that scenario based on the 5/24 rule.

Example #2: You would still be under 5/24 in this example and could be approved for the Chase Sapphire Preferred.

I did something similar to your 2nd example recently and getting a Chase Ink Preferred card didn’t put me over 5/24, so I was still able to be approved for the Sapphire Preferred.

Thank you.

So Darius had a similar article but he didn’t include Barclay in his list of business cards that wouldn’t count on your 5/24. So I asked him about it and he said that he wouldn’t risk it. I noticed you have it listed here as not affecting so I’m just curious if you know specifically if the Barclay AAdvantage Business card applies to Chase 5/24?

Barclays Business cards are a bit of a gray area. Jasmin has a Barclays JetBlue business card and it didn’t count toward 5/24. But it can vary and no one has figured out exactly why it does. Some people think it varies depending on the specific card.

Personally, I would apply for a Barclays business card only if you’re okay with it counting toward “5/24” and consider it a bonus if it doesn’t.

I’m at 5/24 and will be 3/24 in June. My question is I have heard that if you get a “Selected for you offer” it bypasses the 5/24 rule, is this true?

– alex

Author

Hi Alex – my wife was over 5/24 and had a pre-approval in-branch at Chase and she was able to open the new card.

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