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Of all the bank application rules, the one that stirs up the most questions is – hands down – the Chase “5/24” rule!
The rule’s name comes from the fact that Chase won’t approve you for their cards if you’ve opened 5 or more credit cards from any bank within the past 24 months. But there are some cards you can get even if you’re over the limit, which only adds to the confusion. Because those cards will still add to your “5/24” count.
And in addition to that, some small business cards don’t appear on your personal credit report, which means they won’t count toward your “5/24” limit! But this isn’t true for business cards from every bank.
Million Mile Secrets reader Brad asks:
I am confused about Chase business cards. I applied and was approved for a Marriott Rewards Premier Business Credit Card in January. Does this card add 1 to my Chase “5/24” count? Or am I still able to apply for 5 more Chase cards?
Hi, Brad, and thanks for the question! The short answer is no, it does not count toward your “5/24” limit. And you should be able to apply for additional Chase cards!
Although whether or not you will be approved for 5 more Chase cards will depend on a lot of other factors in addition to the Chase “5/24” rule. I’ll explain the Chase “5/24” rule and exactly how it works!
What Is the Chase “5/24” Rule?
Chase has some strict application rules, which includes their “5/24” rule. If you’ve opened 5+ cards in the prior 24 months, it’s unlikely you’ll be approved for one of their cards. This includes credit cards from all banks, as well as any cards you have been added to as an authorized user (but you might be able to call and get Chase to ignore authorized user cards).
There are some cards that are not restricted by the “5/24” rule. So even if you have opened more than 5 credit cards in the past 24 months, you can still be approved for certain Chase cards. The Chase Marriott Business card is one of the Chase cards you can still get eve if you’re over the “5/24” limit.
Also, some business credit cards do not appear on your personal credit report and are not counted in the “5/24” rule. This includes Chase business cards!
Have a Chase “5/24” Strategy!
Deciding on which cards to apply for is important when it comes to Chase’s 5/24 rule! If you have your eye on several credit cards with a few different banks, apply for the Chase cards first!
Doing so will ensure your Chase applications will not be declined as a result of the “5/24” rule, although you will still be subject to their other approval criteria, such as your credit score and a few other factors.
What to Do If You’re Over 5/24
If you happen to be over “5/24” and are trying to get back under the limit, I’ve got some great news for you. You don’t have to stop applying for cards altogether!
You can still earn valuable sign-up bonuses by focusing on small business credit cards from certain banks. Because business cards from some major banks (including Chase) do not appear on your personal credit report. So they will not add to your “5/24” count!
In fact, team member Keith uses this exact strategy to continue earning valuable sign-up bonuses while waiting to get under “5/24”!
With Chase’s strict application rules, you will have a tough time being approved for a card if you have opened 5+ cards from any bank in the prior 24 months. Any accounts showing up on your personal credit report will count in the calculation of your “5/24” limit. This can include accounts you are an authorized user on (but you might be able to call and get Chase to ignore authorized user cards)!
Since Chase business cards do not appear on your personal credit report, they do NOT count toward your “5/24” limit. And if you are over “5/24,” Chase does have a few cards you can still be approved for. But those cards will still add to your “5/24” count.
So if you have your eye on several credit cards, apply for the Chase cards first. Then if you end up over the Chase “5/24” rule, you’ll already have the Chase cards you wanted!