New to the Miles & Points World? Here’s What You Need to Know About the Chase “5/24” Rule

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New to the Miles & Points World?  Here’s What You Need to Know About the Chase “5/24” Rule

Million Mile SecretsNew to the Miles & Points World?  Here’s What You Need to Know About the Chase “5/24” RuleMillion Mile Secrets Team

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For beginners, I typically recommend getting one of Chase’s great travel rewards credit cards.  Because Chase Ultimate Rewards points are my favorite flexible points!  And they’ve got great travel partners for booking useful awards.

But the Chase “5/24” rule is one of the more confusing bank application rules.  What cards count toward your limit?  And if you’re over the “5/24” limit, are there any Chase cards you can still get?

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Trying to Understand the Bank’s Application Rules Can Be Just as Confusing as Choosing Your First Travel Rewards Card

So let’s review the ins and outs of the Chase “5/24” rule for folks who are new to the hobby!

Million Mile Secret Agent Kimberly asked:

This may be asking the obvious, but could you please clarify:   If I want another Chase card and I’ve opened several travel cards recently, do I have to wait 2 years without applying for any other cards?

This is one of the top questions folks in the miles & points hobby have, so you’re not alone, Kimberly!

The good news is – you do NOT have to wait 2 years from your last credit card application to apply for a Chase credit card!  But you will, most likely, have to be strategic with your credit card applications because of the “5/24” rule.

I’ll explain how the “5/24” rule works and how it might affect your situation.

What Exactly Is the “5/24” Rule?

Link:   How to Check Your “5/24” Status

If you have opened 5 or more credit cards from any bank within the past 24 months, you’ll likely be denied for most Chase credit cards.  This doesn’t mean you can’t have more than 5 cards at a time.

Chase looks at the past 24 months of your credit report to see how many new accounts you’ve opened.  If you’re not sure what that number is, you can check with Credit Karma.

What Will Count Toward Your “5/24” Limit?

Link:   How to Stay Under the “5/24” Rule and Get Big Travel With Small Money!

Almost any credit card you have been approved for within the past 24 months will count toward your limit.  So if you applied but were denied, that will NOT count!

But if you were added as an authorized user on someone else’s account, it WILL count.  So if you’ve been approved for 3 cards and added as an authorized user on 2 other accounts, you probably won’t be approved for most Chase credit cards.

If your application is denied, some folks have had luck calling the Chase reconsideration line and explaining that some of the accounts are authorized user cards.  But there is no guarantee this will work for everyone.

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Feel Stuck by the “5/24” Rule? It May Not Seem Like It, but There Is a Way Around

Thankfully, there is a way to earn Big Travel with Small Money AND stay under the “5/24” rule!

Small business cards from Chase and some other banks won’t appear on your personal credit report (including authorized users).  So they won’t count toward your “5/24′” limit!

You will still have a credit inquiry show up on your credit report.  But the credit card account, not the credit inquiry, is what Chase will look at to get your “5/24” count.

What If You’re New and Haven’t Applied for Lots of Cards Yet?

If you’re just starting your miles & points hobby and don’t have a lot of new credit card accounts open, I suggest getting the Chase personal cards that best fit your travel goals first.  Or, if you qualify for small business cards, consider applying for Chase and other business cards that won’t count toward your “5/24” limit.

Certain Chase cards (see list below) are not affected by the “5/24” rule.  So those are good cards to apply for after you are over the limit.

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If You’re Just Starting Out, I Suggest Considering the Chase Sapphire Preferred Card – Our Number 1 Card for Beginners!

Our favorite card for beginners is the Chase Sapphire Preferred because it earns valuable Chase Ultimate Rewards points.  You could also consider getting the Chase Sapphire Reserve card, which comes with all kinds of money saving perks.

But you won’t be able to get both the Chase Sapphire Preferred and Chase Sapphire Reserve cards.  So choose wisely!

While you are under the Chase “5/24” rule, you might want to consider earning the best deal in travel – the Southwest Companion Pass!  You could earn the Southwest Companion Pass with only 2 Chase card bonuses!

This is an easy way to get nearly 2 for 1 travel to anywhere Southwest flies on paid or award flights, with no blackout dates, for almost ~2 years!

What Cards Can You Still Get If You’re Over the Limit?

Link:   Chase Cards You Can Still Get If You Are Over the “5/24” Rule

If you are hopelessly over the “5/24” limit, there are still plenty of great travel cards from other banks you can get.

And you could be approved for any of the following Chase cards, which aren’t included in the “5/24” rule:

Remember, just because you can be approved does NOT mean you will.  There are other factors besides the “5/24” rule Chase will consider when reviewing your application.

Bottom Line

Chase has some of the best travel cards for beginners (and experts too!).  But it also has one of the more confusing credit card application rules.

The “5/24” rule will limit which Chase cards you’ll be approved for if you have opened 5 or more credit cards in the past 24 months.

Thankfully, there are exceptions to this rule and small business cards from some banks won’t count toward your limit.

Is there any part of the “5/24” rule that’s still got you stumped?  Please let me know in the comments.

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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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