What Is The Chase 5/24 Rule?

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Chase has enacted a rule, commonly referred to as the Chase 5/24 rule, which makes anyone ineligible of being approved for certain Chase card if they have been approved for 5 or more credit cards in the past 24 months. If you have been approved for 4 or less credit cards, you will not be affected by the rule. Chase has not has not announced this rule publicly nor have they made announcements when adding more Chase cards to the list. All the data points below are thanks to fellow credit card enthusiasts.

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(Picture courtesy of Chase)

What Counts Towards The 5/24 Rule?

The 5/24 rule only considers personal credit cards and personal charge cards that you have been approved for within the past 2 years. The rule does apply to any business credit cards, car loans, house loans, or any other account on your credit report. Once two years passes since you were approved for the card, the card will not count towards 5/24.

It appears authorized user cards may confuse the online approval system and it will count it as a new account. After calling the reconsideration line though, most have been able to be approved manually.

Counts Towards 5/24:

  • Personal credit cards approved in the past 2 years
  • Personal charge cards (Amex Platinum, Amex Premier Rewards Gold, etc) approved in the past 2 years

Does Not Count Towards 5/24: 

  • Business credit cards
  • Car loans
  • House Loans
  • Personal credit cards and charge cards approved over 2 years ago
  • Authorized User accounts (though may lead to you needing to call Chase reconsideration to manually approve the account)
  • Any other credit account on your credit report

Cards Affected by Chase 5/24

  • Chase Sapphire Preferred
  • Chase Sapphire Reserve
  • Chase Freedom
  • Chase Freedom Unlimited
  • Chase Ink Business Preferred
  • Chase Ink Cash
  • Chase Slate
  • Chase Southwest Plus
  • Chase Southwest Premier
  • Chase Southwest Business
  • Chase United Explorer
  • Chase United Club
  • Chase United Explorer Business
  • Chase Marriott

Cards Not Affected by Chase 5/24

  • Chase IHG
  • Chase Hyatt
  • Chase Marriott Business
  • Chase Ritz Carlton
  • Chase British Airways
  • Chase Disney Premier
  • Chase Disney Rewards
  • Chase Amazon
  • Chase AARP

How to Get Around The Chase 5/24 Rule

The short answer is that you don’t but thankfully there are a couple of loopholes. Currently, data points show in branch preapproved credit card offers and Chase Private Banking members will get you around 5/24. I was preapproved for the Chase Sapphire Reserve card and was successfully approved within a few days of applying.

Loopholes

  • Chase In Branch preapproved credit card offers
  •  Chase Private Client banking members

Conclusion

Chase is obviously targeting credit card enthusiasts with enacting this new rule and trying to keep them away from Chase cards. While it certainly hampers us credit card enthusiasts, at least we have loopholes to use to still be approved for Chase cards. Those who haven’t started out with the credit card game, strongly consider applying for Chase cards first due to this new rule.

-Points Tutor

Hat tip to US Credit Card Guide