5/24 Rule

Tag Archives for 5/24 Rule.

Dodging 5/24. What works, what doesn’t, April 2017.

Dodging 5/24

Most Chase credit cards fall under their dreaded “5/24 Rule”.  That is, Chase will deny your application if you have opened 5 or more credit card accounts in the past 24 months (see: How to count your 5/24 status).  Included in the count are cards from any bank (not just Chase), as well as cards in which you are an authorized user. What follows is a list of approaches for bypassing 5/24, along with an…

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Going for the latest 100K Ultimate Rewards business card offer despite 5/24

Ink Cards 2

The Chase Ink Business Preferred card rolled out in the fall of last year with a mighty 80,000 point signup bonus.  I’ve been eager to get the card, but Chase’s 5/24 Rule has been a roadblock.  For most of their cards, Chase won’t approve your application if you’ve signed up for 5 or more cards from any bank within the past 24 months.  And I’m way over 5/24.  I’ve asked a couple of times in-branch…

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Curing 5/24

Curing 5/24

Recent developments have made me think more about Chase’s 5/24 Rule (where they deny applicants who have opened 5 or more cards in the past 24 months).  First, Chase released two new and very attractive cards: the Sapphire Reserve card and the Ink Business Preferred card, Then, they promised to release more new cards.  Soon thereafter, those with Chase Private Client status lost their immunity to 5/24.  Then, seemingly unrelated, one of the best options for…

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Chase Special Consideration vs. 5/24

Chase Special Consideration

In the post “Chase Special Consideration,” I wrote about the special reconsiderations forms that a Chase banker can fill out on your behalf (if you have at least $10K on deposit) to help turn a credit card application from a denial to approval.  In fact, the process worked brilliantly for me with my Chase Ink Plus application.  I had hoped that it would work, in general, to break the 5/24 rule. What is the 5/24…

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Flying under 5/24

Flying under 5/24

In the post, “Breaking 5/24,” I described a number of ways in which it might be possible to get approved for Chase credit cards despite having signed up for 5 or more new cards in the past 24 months.  So far, reports of success have been mixed.  Another option, of course, is to stay under the limit.  Luckily, there appears to be a way to do so without giving up all of those great signup…

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The Chase authorized user dilemma for 2 adult households

authorized user

When signing up for a new Chase card, should you add your spouse or other household member as an authorized user?  The combination of Chase’s 5/24 rule, Chase’s point transfer rules, and Chase’s signup bonus offers make the answer to this question surprisingly difficult.  The point transfer rules and the signup bonuses encourage adding authorized users, but the 5/24 rule discourages it.  I’ll explain… Chase’s 5/24 rule In the past year or so, Chase has…

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