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The Obvious First Card Choice After Dropping Below “5/24”

The Obvious First Card Choice After Dropping Below “5/24”

KeithThe Obvious First Card Choice After Dropping Below “5/24”Million Mile Secrets Team

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FINALLY!  It’s been a struggle for my wife and me to earn some of the best Chase card sign-up bonuses because we were both impacted by the “5/24” rule.  Chase will NOT approve you for most of their cards if you’ve opened 5+ cards from any bank (NOT counting Chase business cards and these other business cards) in the past 24 months.

Unfortunately, I’m still under this restriction until August 2018.  But my wife fell below the limit as of June 1.  To celebrate, she obviously had to apply for a new card right away — the Ink Business Preferred℠ Credit Card.

The Ink Business Preferred has the HIGHEST sign-up bonus of ANY card earning Chase Ultimate Rewards points.  And these points have been key to our success in the miles & points hobby!  We used these flexible points to save a lot of money on our around-the-world honeymoon and an unbelievable family vacation to New Zealand!

After Patiently Waiting to Drop Below Chase’s “5/24” Limit, My Wife Was Approved for the Ink Business Preferred Card!

The nice part is my wife and I both have cards that earn Chase Ultimate Rewards points.  So after she earns the valuable 80,000-point Ink Business Preferred sign-up bonus, we can combine points in one account to make it easier to book award travel.

Why the 80,000-Point Ink Business Preferred Offer Is an Amazing Deal!

When you sign-up for the Chase Ink Business Preferred card, you’ll earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases in the first 3 months from account opening.

You can redeem the sign-up bonus for $800 in cash back OR $1,000 in travel by booking airfare, hotel stays, or car rentals through the Chase travel portal (with no blackout dates!).

But the sign-up bonus has the potential to be worth MUCH more if you transfer points directly to Chase’s airline and hotel partners, which include:

  • Aer Lingus
  • British Airways
  • FlyingBlue (Air France / KLM)
  • Hyatt
  • Iberia
  • IHG
  • Korean Air
  • Marriott or Ritz-Carlton
  • Singapore Airlines
  • Southwest
  • United Airlines
  • Virgin Atlantic

Thanks to alliances and partnerships, the list of Chase airline partners opens up a lot of opportunities for Big Travel with Small Money!  For example, after earning the Ink Business Preferred sign-up bonus myself, I transferred points to United Airlines to book a Business Class award flight on Star Alliance partner Air New Zealand.  Paying cash for a similar ticket would have cost more than $4,000!  And flying across the Pacific Ocean in a lie-flat seat was awesome!

Earning the Ink Business Preferred Sign-Up Bonus Helped Me Get This Amazing and Comfortable Lie-Flat Business Class Seat on a ~12 Hour Flight to New Zealand!

My wife and I don’t have specific plans for what we’ll do with the 80,000-point sign-up bonus.  But I’m confident it will get us at least $2,000 worth of travel!

Ink Business Preferred cardholders also get:

  • 3X Chase Ultimate Rewards points for every $1 you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
  • 1X Chase Ultimate Rewards points on all other purchases
  • Up to $600 in cell phone insurance when you pay your cell phone bill with the card
  • 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
  • Primary auto rental insurance (CDW) when renting for business purposes, plus purchase and extended warranty protection

The card has a $95 annual fee, which is NOT waived the first year.  But the value of the sign-up bonus and ongoing 3X bonus category make it a card worth keeping in my opinion.

The cell phone insurance perk is handy too!  I filed a claim after damaging my iPhone and received a reimbursement check to offset part of the repair cost.

The Ink Business Preferred will be a great addition to my wife’s wallet because she already has other Chase Ultimate Rewards point earning cards, including the Chase Freedom and Chase Freedom Unlimited.

Plus, I have 4 cards earning Chase Ultimate Rewards points.  So between both of us, we can earn a lot of points in different bonus categories.  Then, combine points to book award flights or free hotel stays!

Even After Opening a New Card, My Wife Will Still Be Below “5/24”

This is one of the top secrets in the miles & points hobby.  Most small business credit cards do NOT appear on your personal credit report.  This includes Chase small business credit cards.

When a card doesn’t show up on your credit report, Chase won’t see it either!  This means it will NOT count toward your 5-card limit.

So even though my wife recently opened the Chase Ink Business Preferred, she’ll remain below the “5/24” limit because this account will NOT appear on her personal credit report.  This means she’s eligible to apply for other valuable Chase cards, like the Marriott Rewards® Premier Plus Credit Card, which currently has a 100,000-point sign-up bonus offer!

Marriott Credit Card Review
Adding a Chase Small Business Card to Your Wallet Will Not Count Toward Your 5 Card in 24 Month Limit! So You Can Still Be Eligible for Other Popular Cards, Like the Chase Marriott Card! This Card’s 100,000-Point Sign-Up Bonus Could Get You a Luxurious Stay at The St. Regis Punta Mita!

Helpful “5/24” Application Tip!

I had been tracking my wife’s “5/24” status like a hawk.  I knew that the 5th oldest card on her credit report would drop off in the middle of May.  The day after I thought it would fall off, she decided to apply for the Ink Business Preferred.  But she was NOT approved because of the typical “too many recent card accounts.”

We called the Chase reconsideration line and the helpful representative advised the 5th oldest card wouldn’t drop off in their system until a new month started.  So we waited a couple more weeks and applied for the card on June 1.  Sure enough, she was instantly approved!

Bottom Line

My wife and I love earning new cardmember sign-up bonuses to save on travel.  But we’ve been limited from earning most Chase card bonuses because of the “5/24” rule.

As of June, my wife dropped below the limit.  So she decided to apply for the Ink Business Preferred card, which has the highest sign-up bonus of ANY card earning Chase Ultimate Rewards points.

After she meets minimum spending requirements on the card, she’ll earn 80,000 Chase Ultimate Rewards points, worth at least $1,000 in travel!

The best part about getting this small business card is it does NOT appear on her personal credit report.  So she’ll continue to stay below the “5/24” limit, which means she has an open slot to apply for other top Chase credit cards!

Are you impacted by the Chase “5/24” rule?  What’s your strategy been to continue earning miles & points?

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Ink Business Preferred℠ Credit Card

Ink Business Preferred℠ Credit Card

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

More Info

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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When they say small business, what is their definition? I’ve seen some say business account or some kind of identifier/proof. Others not.

I still have the Ink Business Plus card from 2+ years ago. Since this Ink Business Preferred card (I assume) is essentially the same as that Ink Plus card, will I even be able to get approved for the 80k bonus?


Yes! You can earn the sign-up bonus on both because the 2 cards are considered different card products.

Thanks for such a quick reply!

I’m in this predicament as well. Despite being 5/24 a few months ago I was still able to get the CIC. But now I’m officially 4/24. My 5th card was off 2 years and one day after.

But now trying to figure out where to go next. The cards I have are; CF CFU SW & IHG. Any ideas…


I’d probably recommend the Chase Sapphire Preferred or Sapphire Reserve. This way, you can make the most of the points you’re already earning with the other cards (Freedom, Freedom Unlimited, and Ink Cash). With the Sapphire Preferred or Sapphire Reserve, you’ll have the ability to combine points and transfer them directly to Chase’s travel partners. You can read our reviews of each card here:



Yes! Though it would be better with a nicer signup bonus for the CSR

Does cellphone insurance apply also when paying my personal cellphone bill by a business credit card registered under my INC corporation? Please advise.


Hi John – if you use your personal phone for business the coverage should still apply. That was my situation and they approved my claim.

I recently fell below 5/24 (when excluding 2 chase cards on which I’m an authorized user) and applied for the Ink Preferred. I was ultimately denied because of too much “unutilized credit from Chase”. Should I close some of

The chase accounts I don’t really use (assuming they’re not accounts I’ve had open for a while) and then call recon again or just apply again? The rep I spoke with didn’t seem particularly friendly either. Thanks!


I’ve been in a similar situation and I’ve asked Chase to shift some credit from an existing card to a new account in order to get approved. This way, they’re not extending any new credit, but just moving your credit limits between cards. You can ask the reconsideration folks if they’d consider doing this when you call in.

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