Chase 5/24 Rule Explained - Everything You Need to Know (2018)
The Chase 5/24 rule states that if you have opened 5 or more new cards within the past 24 months, your chances of being approved for a new Chase card are slim until your existing card accounts have matured past 24 months.
This rule, although never officially confirmed by Chase, applies to all new card accounts opened in the past 24 months – not just Chase cards.
Thankfully, there is a silver lining: not all Chase cards are subject by this rule.
Chase 5/24 Simplified: If you have signed up for 5 new accounts in the past 24 months, your chances of being approved for a Chase credit card within that time period are slim to none.
Is this a new rule?
Nope, not new. Not official either, though. Back in 2015, reports began surfacing that Chase credit card applications were being automatically denied due to applicants having 5 or more new credit card accounts opened over a 24 month period. It seemed to only affect cards that participated in the Ultimate Rewards Program, and while some reported having success despite being over the rumored “magic” number, most applicants over 5/24 were denied.
Again, it was unofficial, but rumors were swirling.
Then, in May 2016, new requirements made it pretty clear that the rule had expanded to include Chase co-branded cards and business credit cards (noted below). At the time of writing, Chase still hasn’t published anything formal about this policy, but it’s interesting following the evolution of it.
What You Should Know About 5/24
Besides the general definition and history of the rule, there’s still a lot to understand about it. We dug a little deeper to find out:
- How Chase defines a new account
- Which cards are subject to 5/24
- Which cards are NOT subject to 5/24
- How to determine your 5/24 status
- Ways to get around 5/24
- Plus, some frequently asked questions
How Chase Defines "New Account"
Chase counts all new accounts on your report – not just Chase accounts – which is an important distinction. It’s also probably why a lot of the advice you have come across encourages you to prioritize signing up for Chase credit cards first.
As an example, let’s say you have applied and were approved for 2 Bank of America cards, 1 Discover card, and 2 American Express cards within a 24-month window. Based on how Chase defines a new account, you would likely be denied if you applied for a Chase card (affected by this rule) because you would be over 5/24.
New accounts are reported to all three nationwide credit bureaus, so it doesn’t matter where Chase pulls your credit report from – they will find it.
Denied Applications Don't Count
New accounts do not include applications that are denied since they don't get reported. No one wants to be denied for a card, but if it happens, it’s good to know it won’t show up on your credit report.
If you’re an authorized user on an account, it will show on your credit report and Chase will count it towards the 5/24 rule. You may, however, be able to get an exemption by calling the reconsideration line and convincing one of the representatives to let it slide. More on that later.
Business Credit Cards Are Not Always Reported
Not all business cards count towards 5/24, but you're still subject to (and thus need to be under) 5/24 to be approved. This is because most business cards don't show up on personal credit reports and so Chase doesn't count them towards the limit.
Currently, the only business cards reported on your personal credit report are Capital One and Discover business cards, so if you have these cards, they will count towards your 5/24 status.
Cards Subject to the Chase 5/24 Rule
While Chase has not officially confirmed this list of credit cards impacted by 5/24, the following cards are affected based on crowdsourced data from the travel rewards community.
Personal Credit Cards
- Chase Freedom Card
- Chase Freedom Unlimited Card
- Chase Sapphire Preferred Card
- Chase Sapphire Reserve Card
- Chase Slate Card
- Marriott Rewards Premier Plus Credit Card
- Southwest Rapid Rewards Plus Card
- Southwest Rapid Rewards Premier Card
- Starbucks Rewards Visa Card
- United MileagePlus Club Card
- United Explorer Card
Business Credit Cards
- Chase Ink Business Cash Credit Card
- Chase Ink Business Preferred Credit Card
- Chase Ink Unlimited Credit Card
- Southwest Rapid Rewards Premier Business Card
- United MileagePlus Explorer Business Card
- United MileagePlus Club Business Card
Cards NOT Subject to the 5/24 Rule
Again, this list hasn't been officially confirmed by Chase, but based on crowdsourced data from the travel rewards community, the following cards are not impacted by the Chase 5/24 rule.
This means you if you choose to apply for any of the following cards, your application shouldn't be denied based on the 5/24 rule. Keep in mind, though, that your application may be denied for other reasons.
Personal Credit Cards
- IHG Rewards Club Premier Credit Card
- The World of Hyatt Credit Card
- Chase AARP Card
- Amazon Rewards Visa Card
- Aer Lingus Visa Signature Credit Card
- British Airways Visa Signature Card
- Disney Premier Visa Card
- Disney Visa Card
- Iberia Visa Signature Card
IHG Rewards Club Traveler Credit Card(no longer available) Ritz-Carlton Rewards Card(no longer available) The Hyatt Credit Card(no longer available)
Business Credit Cards
- Marriott Rewards Premier Business Credit Card
Chase 5/24 Rule Exemptions
If you’re over 5/24 and looking for a way around to get around this rule, you’re in luck – here are a few known exemptions.
Note: There are no guarantees that any of these exemptions will work, but it could be worth a try.
‘Selected For You Offers’
Recent data points suggest this may no longer work, but you can still check by logging into your Chase account and expanding the menu in the top left corner to see ‘Your Offers.’
In Branch Offers
If you’re at a Chase branch and told (without prompting) that you have been pre-approved for a credit card, you may be able to get approved in branch, thus getting around 5/24.
Some data points also suggest submitting a paper credit card application in a branch location may also bypass 5/24.
In Branch BRM Paper Offers
‘BRM’ stands for Business Relationship Manager and not every branch has one. If a BRM submits a paper application for a business credit card on your behalf, you may be able to get approved since the application will be handled by a department that doesn’t deny applications based on the 5/24 rule.
Taking a Chance
Even with the odds stacked against you, there’s technically nothing stopping you from applying. As you can probably guess, chances of being approved are slim, but some people have had success with it.
If you’re over 5/24 due to being an authorized user on 1 of your 5 new accounts, you may be able to speak with a credit analyst to plead your case by calling the reconsideration line. As a heads up, you’ll likely need to close the authorized user card and request it be removed from your report. This process can take anywhere between 60-90 days and you’ll want to follow up with the creditor once they have updated their records.
What if I’m a Chase Private Client (CPC)?
As of late 2016, being a CPC doesn’t allow you to bypass the 5/24 rule.
Targeted Offers in the Mail
Receiving a targeted offer in the mail with a unique invitation code may have worked in the past but data points show this is no longer the case for getting around your 5/24 status.
How do I know if I’m under 5/24?
The best way to know for sure is to review your credit report. Credit Sesame provides it for free.
Otherwise, by doing a little simple math.
Ex 1. If today is 5/31/18 and you literally count back 24 months, your 5/24 start date would be 6/1/16
Ex 2. If today is 9/18/18 and you count back 24 months, your 5/24 start date would be 9/18/16
Will closing an account help if I’m over Chase 5/24?
No – the account will still have been opened in the past 24 months, so it counts.
Possible workaround: Some have reported being granted an exemption if the account closed was an authorized user account that pushed them over 5/24. Again, no guarantees, but it may be worth calling the reconsideration line to discuss with a Chase representative.
What is the contact information for the Chase Reconsideration line?
For personal cards: 1-888-270-2127
For business cards: 1-800-453-9719
For business cards in particular, it's best to wait until after you receive a letter of explanation from Chase before calling the reconsideration line for business cards.
What if Chase shows me a banner offer in the Chase app – can that bypass the rule?
Good looking out, but unfortunately, no.
If I’m at 4/24 and apply for two new cards on the same day, one right after the other, can I get approved?
It’s possible, but there are no guarantees.
Does Chase count store cards?
Depends. If the card can be used outside that specific store, Chase will count it (since it uses a payment network like Visa, Mastercard, Discover, or American Express). Otherwise, it probably won’t be counted.
Does Chase count auto loans?
No definitive answer, but we assume no since auto loans aren’t bank cards.
Does Chase count home loans and/or mortgages?
No definitive answer, but we assume no since home loans and/or mortgages aren’t bank cards.
Does Chase count student loans?
Maybe. Similar to the loans above, student loans aren’t bank cards (I hear you) but some have reported being denied due to their student loans being counted as part of the 5 new accounts.
Does Chase count charge cards?
Yes – If it’s affiliated with a bank, Chase will count it.
If I’m over 5/24 and none of the exemptions (above) are applicable to me, what can I do?
1) Wait until your accounts have been opened for longer than 24 months, 2) apply for a card that isn’t affected by 5/24 (see list above).
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