What to Know About Applying for a Chase Card NOT Impacted by the “5/24” Rule

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What to Know About Applying for a Chase Card NOT Impacted by the “5/24” Rule

Million Mile SecretsWhat to Know About Applying for a Chase Card NOT Impacted by the “5/24” RuleMillion Mile Secrets Team

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Million Mile Secrets reader, Davidcommented:

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?

Excellent question!

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.

Chase 5 Card Limit Exceptions
Even If You’re Over the Chase “5/24” Limit, It’s Still Possible to Earn Valuable Sign-Up Bonuses With Cards Like the Chase Hyatt Card

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”

Link:   Chase Travel Cards Not Restricted by the “5/24 Rule”

Link:   Rules for Chase Credit Card Approvals & What to Do About It!

It’s difficult to be approved for many Chase cards if you’ve opened ~5 or more credit cards (from any bank) in the past 24 months (excluding certain business cards).  It’s known as the “5/24 rule”.

This rule applies to popular personal and small business cards, such as the Chase Sapphire Reserve and Ink Business Preferred℠ Credit Card.

But there are data points that suggest you can still get these cards even if you’re over the 5/24 limit:

Lots of folks on the myFICO forums say they’ve been approved for the Chase Amazon Prime card despite having lots of recent new accounts.

Chase 5 Card Limit Exceptions
Folks Above the “5/24” Limit Can Still Consider the Chase Amazon Prime Rewards Visa, Which Is NOT Restricted by the Bank’s Rules

And Million Mile Secrets reader Ricky says he opened 10 new cards in a 24 month timeframe and still got an instant approval for the Chase British Airways 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:

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”

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

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:

  • AMEX
  • Bank of America
  • Chase
  • Citi
  • 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!

Bottom Line

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:

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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I applied and got approved of 8 credit cards business and personal by Amex, CITI, Barclay and Chase prior to my last two Chase attempts. It is when my personal cards exceed 5 within 24 months, Chase started to disqualify me for their additional business or personal credit cards(even the ones that I was pre-approved!). Also I did apply with my S corp’s Tax ID and my S corp has been operating for six years now but it didn’t matter. They still require to look at your SSN because they say that their cards are for small business owners. They are pretty strict when it comes to “too many cards opened over a short period of time.” I got approved afterwards of another CITI credit card but I would not venture to try Chase again until I am through the 24 months period. But if you have a total of over 300K asset with Chase, they might cut you a special deal-that’s what my personal banker told me.

I just got turned down for a card because an AMEX Gold business card I opened earlier in the year put me over 5/24. The CSR said they absolutely *do* look at business and personal cards.

Just an FYI

There is a LOT of conflicting info regarding of Chase business cards affect 5/24. Some are adamant that it does, and some say no. I am wondering if the differentiating factor is whether you apply with your SSN or with a Tax ID? It makes sense that that may affect this. Any thoughts??

Since posting this, we have gotten approved for a SW Business card, which puts us at 6/24 from June 2016 to October 2017. (That includes an Ink Business Card May 2017). (We apply for business cards with a tax id). It *seems* that using SSN only results in it being applied to 5/24. Of all the cards included above, only one is a non-Chase card (Amex). So even the business cards are in the Chase system.

If you are subject to the 5/24 restriction and have any kind of account with Chase Bank, try this. It worked for both me and my S.O. in July 2017 for Sapphire Preferred card.

Sign into your account.

In Account management > Profile & settings > Income, tell them your income.

Wait a week a so, then stop by your local branch. Ask what credit cards for which you are pre-approved. Any of those waive the 5/24 rule for you if you apply in-branch.

Million Mile Secerts

Thanks for sharing this tip!

I thought Chase business cards DO count towards the 5 cards opened. You state they do not.

Million Mile Secerts

From the data points I’ve read, Chase small business cards don’t count against the 5 card limit.

What I’ve read others say is that, while business cards will not count against the 5/24, you still need to be under the 5/24 to apply for one and get approved for it – this is if your just doing the application online. Others have disputed this but it’s what I’ve read. In another words if you want to apply for the Chase Ink Business Prefferred, you need to be under the 5/24 to be approved but it won’t count towards it.