What is Chase’s 5/24 Rule
If you’re diving into the world of travel rewards and credit card points, you’ve likely come across Chase’s infamous 5/24 rule. This guideline is one of the most important factors in determining whether you’ll be approved for a Chase credit card. Let’s break down what the rule is, how it works, and strategies to navigate it effectively.
What is the Chase 5/24 Rule?
The 5/24 rule means that if you have opened five or more credit cards from any issuer (not just Chase) in the past 24 months, Chase will automatically deny your application for most of their credit cards.
How to Check Your 5/24 Status
To determine whether you are over the 5/24 limit, follow these steps:
Review your credit report from a free credit monitoring service like Credit Karma, Experian, etc.
Count how many personal credit cards (not business cards) you’ve opened in the past 24 months.
If you’ve opened five or more, you are unlikely to be approved for a new Chase card.
What Counts Toward 5/24?
Personal credit cards from any issuer (Chase, Amex, Citi, Capital One, etc.) count toward the rule.
Authorized user accounts may count, but you can call Chase’s reconsideration line to have them excluded.
Business credit cards generally do not count toward the 5/24 total (except Capital One, TD bank, and Discover, which report business cards to personal credit reports).
New to Points and Miles?
Grab a copy of my free beginner’s guide to points and miles
Read more: How to Get Started with Earning Points and Miles Using Credit Cards
Strategies to Work Around the 5/24 Rule
Apply for Chase Cards First – If you plan to apply for multiple credit cards, prioritize Chase cards before you hit the 5/24 limit.
Become an Authorized User Later – If you want to be added as an authorized user on someone else’s card, wait until after you’ve been approved for Chase cards. This can help you avoid a reconsideration call.
Focus on Business Cards – Since most business cards don’t add to your 5/24 count, they can be a great way to earn rewards without affecting your ability to get Chase cards.
Reconsideration Calls – If you’re denied, you can call Chase’s reconsideration line to plead your case, especially if authorized user accounts pushed you over the limit.
Still Confused? Watch me walk through the Chase 5/24 Rule on Youtube
Final Thoughts
Chase’s 5/24 rule can be a major roadblock for credit card enthusiasts looking to maximize rewards. However, with strategic planning, you can work around this limitation and still take advantage of Chase’s lucrative points-earning opportunities. If you’re new to credit card rewards, start with Chase cards before applying for other issuers to keep your options open.
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