What to Know About Applying for a Chase Card NOT Impacted by the “5/24” Rule
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Million Mile Secrets reader, David, commented:
When you say the Chase Hyatt is NOT affected by the “5/24 rule”, do you mean I can still get the card if I am over the 5/24 card limit? Or getting this card won’t count toward my 5/24 card limit?
The Chase Hyatt Credit Card is one Chase credit card NOT impacted by the bank’s tougher application rules. This means you can still be approved for the card if you’ve opened ~5 or more credit cards (from any bank) in the past 24 months.
But because you’re opening a new card, this account WILL appear on your credit report. And can impact your ability to get other Chase cards in the future. Because it will count toward your 5/24 status.
If you want to avoid having new accounts appear on your credit report, I recommend applying for certain small business cards. For example, AMEX small business cards do NOT appear on your personal credit report. So they don’t count against you if you plan to apply for Chase cards.
I’ll remind y’all which cards to consider if you’re impacted by Chase’s strict application rules.
7 Chase Cards Not Impacted by the “5/24 Rule”
But there are data points that suggest you can still get these cards even if you’re over the 5/24 limit:
- Chase Amazon Prime Rewards Visa
- British Airways Visa Signature® Card
- Chase Disney
- Chase Hyatt
- IHG® Rewards Club Select Credit Card
- Marriott Rewards Premier Business Credit Card
- Ritz-Carlton Rewards® Credit Card
Keep in mind, just because it’s possible to be approved for these cards does NOT mean it’s a guarantee. Chase considers multiple factors when evaluating your application. And they can still deny your application if they feel like you’ve opened too many new accounts.
Also remember, signing-up for one of these cards means a new account will appear on your credit report. So this will impact your ability to get other Chase travel cards in the future, depending how many recent accounts you’ve opened.
For example, let’s say your credit report shows 4 new credit card accounts in the past 24 months. If you get the Chase IHG card, you will now be at the 5/24 limit. So you’ll have to wait to drop below if you want other Chase cards like:
- Chase Freedom Unlimited
- Chase Sapphire Preferred® Card
- Chase Sapphire Reserve
- Ink Business Cash℠ Credit Card
- Ink Business Preferred℠ Credit Card
That’s why I recommend folks new to miles & points get Chase cards first! Because the bank has some of most valuable credit cards for getting Big Travel with Small Money.
Most Small Business Cards Do NOT Count Toward Your “5/24 Limit”
If you’re waiting to fall below Chase’s 5/24 limit, remember many small business cards will NOT appear on your credit report. This includes business cards issued by these banks:
- Bank of America
- Wells Fargo
So you can still earn lucrative sign-up bonuses without impacting your ability to get Chase cards in the future. For example, Million Mile Secrets team member Keith has exclusively been applying for small business cards recently. This way when he drops below the 5/24 limit, he’ll be eligible to earn sign-up bonuses on popular Chase travel cards!
There are 7 Chase cards NOT impacted by the bank’s tougher application rules. Even if you’ve opened ~5 or more credit cards (from any bank) in the past 24 months, it’s still possible to get:
- Chase Amazon Prime Rewards Visa
- Chase British Airways
- Chase Disney
- Chase Hyatt
- Chase IHG
- Chase Marriott Small Business
- Chase Ritz-Carlton
Keep in mind, while you’re eligible to be approved for these cards, it does NOT mean it’s a guarantee. It’s still up to Chase to evaluate your application. And if you open one of the personal Chase cards, it WILL count toward your 5/24 limit.
Remember, certain small business cards do NOT appear on you personal credit report. So you can earn valuable sign-up bonuses with these cards without impacting your ability to get Chase cards.
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