Don’t Get Denied! Common Reasons People Don’t Get Approved for Chase Credit Cards (Besides the Chase 5-24 Rule)

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Don’t Get Denied! Common Reasons People Don’t Get Approved for Chase Credit Cards (Besides the Chase 5-24 Rule)

Scott LiebermanDon’t Get Denied! Common Reasons People Don’t Get Approved for Chase Credit Cards (Besides the Chase 5-24 Rule)Million Mile Secrets Team

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Avoid these common mistakes when applying for Chase credit cards!  I have 6 Chase credit cards and I’ve learned a lot along the way in addition to the Chase 5-24 rule.  Use our Chase approval tips when you apply for top Chase credit cards such as

To earn a sign-up bonus on any card you must meet the card’s minimum spending requirement.

Here I Am With One of My Trusty Chase Credit Cards — the Sapphire Preferred — in Europe This Past Summer.  Here Are Chase Approval Tips to Help You Avoid a Denial

Approval Tips and Credit Score Needed for Chase Credit Cards

Chase 5-24 Rule

Chase won’t approve you for most of their credit cards if you’ve opened 5 or more credit cards from ANY bank within the past 24 months.  Exception: business credit cards from American Express, Bank of America, Chase, Citi, and Wells Fargo do NOT count towards your 5 credit card total.

Credit Score Requirement

In general, the fancier cards with top perks require a higher credit score.  Although credit score isn’t the only factor!

For example, Chase Sapphire Preferred® Card applicants should usually have a credit score of 720 or above.  750+ would be safe.  I’ve heard folks who say there were approved with a score under 720 but perhaps they had other aspects strongly in their favor.

Basics – Carefully Fill Out the Application

A wrong address, incorrect social security number, etc., can confuse Chase and cause a denial.  So if you do get denied, definitely contact Chase to see if they had a question about your identity.

Income Requirements

You’ll need to show Chase you can afford to pay the bill each month.  So they’ll factor this in.  But Chase realizes that some folks are retired and have plenty of savings, while others are young and have financial support from close family members.

For example, when you apply for the Chase Sapphire Preferred® Card this is how the site explains what number is fair to enter into the income box:

Income Can Come From Multiple Sources Besides Your Job or Business

Income Requirements for Chase Business Credit Cards

On the application for the Ink Business Preferred Credit Card Chase asks you to enter annual business revenue/ sales.

Remember, revenue is NOT profit.  So if your business made $27,000 off expenses of $10,000, you’d enter $27,000.

Be honest on the application.  These cards are meant for small businesses who want to use Chase credit cards to grow the business.  Also, the application asks about your personal income in the same way described above.  So Chase is looking at your business but also at your ability to pay the bill regardless of how your business performs.

Important: Pay all your credit card bills on-time and in full!  Using points for travel is awesome.  But credit card debt is bad and not worth it.  Please only apply for these cards if you’ll be paying on-time and avoiding interest charges and fees.

Age of Your Credit File

If you’re brand new to credit such as you’ve never had a credit card before or you just got a social security number, you might need to wait a little bit.  Again, Chase has the final say.  A work-around is to get added as an authorized user to someone’s credit card.  This will start to build your credit.  You could also start with a secured credit card.

If you think you were denied for this reason, you can call Chase and say you can submit proof of income which may make them feel more comfortable about approving your application.

Lots of Inquiries in Recent Months

Whenever you apply for credit and authorize the lender to check your credit report, it counts as an inquiry.  No big deal.  But if there are a lot of those in a short period of time, Chase might think you’re out of money and you really need to borrow money badly.  Again, they’re just trying to feel comfortable that you won’t run up a bill on them and then not pay.

There’s no exact number that I’m aware of.  So if you’re denied for this reason call Chase to explain.  I’d guess that 10 inquiries in the past 3 months might be pushing it.

You Already Have a Lot of Credit with Chase

Chase has a number they calculate as to the total amount of credit they want to trust you with.  If you’re already at that limit, they might hesitate to give you a new credit card with even more of a credit line.  I had this happen to me.  So I gave them a quick call and explained why I really wanted that particular credit card.  I offered to reduce the credit line on another Chase credit card and basically move it to this new card.

That’s all it took for them to be able to approve me for the new credit card.

I haven’t heard of a hard limit to the number of Chase credit cards you can get.  But there is certainly an overall credit dollar limit.  Currently I have 6 Chase credit cards.  The most I had at one time was seven.  Actually, I want to add a 7th, the Ink Business Preferred Credit Card.

Earn 2X Chase Ultimate Rewards points at restaurants like I'm doing here eating lovely oysters while sipping an adult beverage
Here I Am Earning 2X Chase Ultimate Rewards Points With No Foreign Transaction Fees with My Chase Sapphire Preferred Card in Europe

Chase Credit Problems

If you owe Chase money — um, not good.  If you’ve recently been late with paying Chase, also, not good for your application.

This Might Help All Your Chase Applications

Whenever I’ve been denied or my application went to “pending” I called Chase and had a nice conversation.  The 2 things I always have in my favor are

  • I’m a good Chase customer.  I pay all bills on-time and in full.  I have a Chase bank account.  This seems to build trust as it’s been active for years and they see money in it.
  • I have a reason for wanting the new credit card besides the big ol’ sign-up bonus.  I’m honest and say yes you got my attention with the bonus but I also plan to keep spending on the card because of the ongoing points I’ll earn and to use the card perks.

Bottom Line

It’s normal to feel apprehensive or nervous when applying for credit card.  Hopefully learning more about the approval process here for Chase credit cards makes you feel more at ease.  If you’ve got an excellent credit score, don’t let it go to waste!  Get the cards and points so you can travel for free.

A “denied” application isn’t the end of the world.  It happens very rarely once you know what Chase is looking for — and now you do!

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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I’m outside of the 5/24 rule now as of this month. If I apply for another credit card that falls under this rule, does my count go back to zero or is it based off of the last known credit card approval? Please advise.

Denied for Chase Ink Business Preferred and spent one hour on the recon line. Now have to wait a couple of days to get an answer. Is this normal?

Yes, it’s happened to me. Sometimes they just need a little extra time to review your application. I would check back with them in a few days.