New offers bypassing 5/24 (black star “Just for You” offers)

In the time since Chase instituted the 5/24 rule, there have been various opportunities (some which have come and gone) to get around the inability to be approved if you’ve opened 5 or more new credit cards with any bank in the past 24 months. One of those opportunities has been through pre-selected offers that show up under the “Just for you” section of your Chase online account with a green star. Reports have been trickling in through Doctor of Credit for the past few days that offers with a black star are now also bypassing 5/24 — and in some cases, people have even been approved for more than one card.

The reports thus far indicate offers for business cards showing up under personal account logins. You’ll find these offers when you log in to your personal Chase account and click “Just for you” in the left menu bar.

Previously, offers on the following page with a green star have been known to bypass 5/24. However, people are now reporting that offers with a black star are also bypassing 5/24. These offers will be for specific cards / standard new card bonuses (i.e. 80K Ultimate Rewards after $5K spend in the first 3 months on the Ink Business Preferred, etc). Another key in knowing that these are pre-approved offers is if they show up with a fixed APR rather than a range as a fixed APR typically indicates that an offer has been targeted to you.

Most people reported that the offers disappeared after applying for one card. However, there have been a few reports of the offers remaining and then being approved for a second new account. I’d recommend exercising some caution on that (See: Why Chase shutdowns have increased and how to avoid them) — two applications in close proximity appears to be one of the triggers that has led to some shut downs. That said, others have surely opened two accounts within 30 days without issue, so YMMV.

The reports I’ve seen have all been offers for business cards.

Applying for Business Credit Cards

Yes, you have a business: In order to sign up for a business credit card, you must have a business. That said, it's common for people to have businesses without realizing it. If you sell items at a yard sale, or on eBay, for example, then you have a business. Similar examples include: consulting, writing (e.g. blog authorship, planning your first novel, etc.), handyman services, owning rental property, renting on airbnb, driving for Uber or Lyft, etc. In any of these cases, your business is considered a Sole Proprietorship unless you form a corporation of some sort.

When you apply for a business credit card as a sole proprietor, you can use your own name as your business name, use your own address and phone as the business' address and phone, and your social security number as the business' Tax ID / EIN. Alternatively, you can get a proper Tax ID / EIN from the IRS for free, in about a minute, through this website.

Is it OK to use business cards for personal expenses? Anecdotally, almost everyone I know uses business cards for personal expenses. That said, the terms in most business card applications state that you should use the card only for business use. Also, some consumer credit card protections do not apply to business cards. My advice: don't use the card for personal expenses if you're not comfortable doing so.

Again, these business card offers have only been appearing in personal Chase logins, so log in to your personal account and take a look.

H/T: Doctor of Credit

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About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

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Language is very vague on bonus – does either a 24 month or 48 month limitation apply for second bonus on Ink Preferred?

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[…] opened 5 or more credit cards in the past 24 months, they won’t approve you for new cards (except when you are targeted for a “Just for You” offer).  This obviously makes it very difficult to take advantage of all of the great Chase credit card […]