5/24 Rule

Tag Archives for 5/24 Rule.

New hope for breaking free of 5/24 after all?

Breaking 5/24

This morning, Greg posted about his latest attempt to bypass 5/24. In that post, he details the process of applying through a BRM (Business Relationship Manager) and the outcomes of the process as he faced initial rejection and filed for special consideration. Some readers questioned whether or not his rejection could be considered yet again or whether the key reason was in fact 5/24. Maybe Greg will take it back up with Chase when he…

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My latest attempt to bypass 5/24

Flying under 5/24

In April, Doctor of Credit posted a “New Way To Bypass Chase 5/24.”  I was intrigued.  I wanted to get Chase’s new Ink card: the Ink Business Preferred for it’s 80K signup bonus and 3X categories, but I was way over 5/24 (Chase won’t approve applications for many of their cards if the applicant has opened 5 or more cards in the past 24 months). The trick that Doctor of Credit described was to apply…

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How to count your 5/24 status from your smart phone

With the introduction of its unofficial 5/24 Rule, Chase has made life much harder for those who like to frequently sign up for credit cards to get the signup bonuses.  With the 5/24 Rule, Chase denies most application in which the applicant has opened 5 or more cards in the past 24 months. And we’re not just talking about Chase cards here.  All issuers count.  If you’ve never opened a Chase card in your life,…

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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

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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