Reader’s Chase Small Business Card Approval Experience With 5/24 Rule

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Reader’s Chase Small Business Card Approval Experience With 5/24 Rule

Million Mile SecretsReader’s Chase Small Business Card Approval Experience With 5/24 RuleMillion Mile Secrets Team

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

Emily and I love to share secrets to help folks get Big Travel With Small Money.  So we’re very grateful when readers send us tips about their successes.

Million Mile Secrets reader Gerry sent us his experience applying for the Marriott Rewards Premier small business card.  Even with the stricter Chase card approval rules, he was approved, despite having more than 20 new credit cards in the past 24 months.

This is great news!  Because Chase has some of the best points and miles cards.  So finding an exception to the Chase approval rules might help other folks with card applications in the future!

Readers Chase Small Business Card Approval Experience With 524 Rule
It’s Fantastic to Hear Folks Like Million Mile Secrets Reader Gerry Getting Chase Cards Even With Stricter Approval Rules

I’ll share Gerry’s experience!

Stricter Chase Approval Rules

I’ve written how Chase’s approval rules apply to small business cards and to co-branded airline and hotel cards, like the Chase United MileagePlus® Explorer Card and Southwest Rapid Rewards® Plus Credit Card cards.

Known as the “5/24 rule,” folks that have opened ~5 or more credit cards (from any bank) in the past 24 months (excluding certain business cards), are unlikely to get approved for most Chase cards.  Even folks with 800+ credit scores have been denied.

Readers Chase Small Business Card Approval Experience With 524 Rule
You’ll Have to Weigh Your Options if You’re Denied for a Chase Card Because of the 5/24 Rule

Chase hasn’t released any official details on the “rule”.  So we can only share our personal experience and what we hear from readers.

For example, Doctor of Credit reports the 5/24 rule does NOT apply to these cards:

In Gerry’s case, he knew his odds of getting a new Chase card were slim, because he had more than 20 new cards in the last 24 months.  But going through the process of applying could get him insight to Chase’s approval methodology for future applications.

So he applied for the Marriott Rewards Premier small business card and was initially denied.  But persistence pays off!

Reconsideration Options & Exceptions to the “5/24 Rule”

Link:   5 Ways to Make Your Reconsideration Call a Success

As he’s had to do in the past, Gerry chatted with a credit analyst.  As expected, the credit analyst reviewed his credit report and would not approve the application based on too many new credit cards in the last 2 years.

In the past, folks have been able to get approvals through the reconsideration line by adjusting credit limits from existing Chase cards.  But this no longer seems to work for most people.

Instead of losing hope, Gerry visited his local Chase branch.

Special Consideration When You Have a Chase Banking Relationship

Bankers at Chase branch locations are able to submit a special consideration request for folks whose credit card applications are denied.

Readers Chase Small Business Card Approval Experience With 524 Rule
You Could Get Special Consideration for Your Credit Card Application if You Have an Existing Banking Relationship With Chase

You’ll usually need to have $10,000+ in deposits at Chase.  And the funds will need to have been at the bank for a period of time.

You can’t just open a new bank account after a card application is denied and get special consideration right away.

Gerry met the conditions for special consideration.  So his banker submitted the request.

Conference Call With an Analyst

The next step was a 3-way call between Gerry, his Chase banker, and a credit analyst in Chase’s lending services group.  The call took over an hour and the analyst asked very detailed questions about Gerry’s business.

Remember, you don’t need a million dollar business to qualify for a small business card.  But you do want to show Chase you’re for-profit in your venture.

In the end, Gerry was approved for the Marriott Rewards Premier small business card.

4 Tips for Getting Chase Cards With 5/24 Rule

While there’s no sure and fast way to guarantee approval for Chase cards, there are ways to increase your chances.

1.   Get Chase Cards With Big Travel Perks First

If you’re new to our hobby, Chase has some of the best points and miles cards.  Especially cards which earn Chase Ultimate Rewards points, because they offer flexibility.

I recommend getting cards like the Sapphire Preferred or Ink Plus first.  Because they are some of the most valuable cards for Big Travel.

2.   AMEX Small Business Cards Do NOT Count Toward Chase 5/24 Rule

Most banks do not report business cards on your personal credit report if you pay on time.  So, applying for a small business card at AMEX will NOT hurt your chances at getting a card at Chase.

Plus certain AMEX small business cards earn Membership Rewards points that transfer to many airline and hotel partners.  Other AMEX cards earn cash back or Starwood points.  These are some AMEX small business cards to consider:

3.   Keep Track of Card Open Dates

If you haven’t kept records of your past credit card applications, read my post on how to find credit card open and close dates.

This way, you can monitor when you’ve had less than 5 cards in a ~24 month period before applying for a new Chase card.

Again, there’s no guarantee Chase will automatically approve your application.  But it will help your case if you have to call the reconsideration line.

4.   Open a Bank Account at Chase

If you live near a Chase branch, you might want to consider establishing a banking relationship.  This made the difference for Gerry in getting his card application approved.

Keep in mind certain bank accounts have fees.  So you don’t want to open an account unless you think you’ll benefit.

Bottom Line

It’s still possible to get approved for Chase cards if you’ve had more than 5 credit cards (from any bank) in the past 24 months.

Folks with bank accounts at Chase can visit the branch to have a banker submit a special consideration to the credit card department.

If you don’t want to hurt your chances of getting approved for certain Chase cards, you could apply for AMEX small business cards, which do not appear on your credit report.

Do you have experience getting Chase to reconsider your credit card application?  I’d like to hear about it!

If you liked this post, why don’t you join the 25,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

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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 was just denied for the Chase Ink card based on too many recent accounts. I have a rental house and I wanted to use the card to buy a new furnace to meet the spending requirement. There are no Chase branches near me, is there anything I can do?

One more data point… I was approved today for the Marriott biz card with 80K bonus despite having about 20 new accounts over past 24 months. No reconsideration call needed.

Can confirm the Hyatt has no 5/24. Opened 12 cards in past year including 2 Chase and have been denied for the UA card because of the 5/24 rule recently. However today I phoned recon and Hyatt was approved with large line and no mention of 5/24 rule.

@Moe – The cards do not appear on your personal credit report. https://millionmilesecrets.com/2016/05/31/if-you-dont-know-this-amex-secret-youre-missing-out-big-time/

@Ryan – Ultimately, Chase has the final say in approving or denying an application. In Gerry’s case, he was initially denied for having too many new accounts in the past 24 months.

@Joe – Not all banks report authorized user accounts to the credit bureaus. I’d recommend your wife view her credit report to see if the accounts show up. https://millionmilesecrets.com/2016/05/08/lost-track-easily-find-out-credit-card-open-close-dates/

@Justin – Thanks for sharing your experience! And congrats on getting the 100,000 Marriott points!

I can concur with this. I’m well past 5/24 and was approved for Marriott Small Biz when the 100k bonus was going on.

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