Chase’s 5/24 Rule: In Depth

Chances are, if you’ve been poking around the credit card community, you’ve heard of or seen the term 5/24. Whether someone being under 5/24, over 5/24, or something not being worth a 5/24 slot. But what does it all mean? 

The 5/24 Rule: The 5/24 rule states that Chase will not approve you for a credit card if you been approved for 5 or more credit cards within a 24 month span. The issuer is irrelevant, and the if you want to be under 5/24, you’ll have to wait. For the most part there are no exceptions to the rule.

Exceptions

Of corse, any rule is meant to be broken. For a long time, the 5/24 rule only applied to Chase’s core cards. Nowadays, it looks like it applies to any card in the Chase portfolio. Luckily though, there are a couple of exceptions to the rule. 

Selected for you offers: In your account, if you go to the “Just for You” section, you may find a Chase Credit card offer being displayed. The way to tell if you are actually targeted for an offer that will bypass 5/24 or not is if you click into the terms. If, under the APR range, you see a solid number, you should be able to bypass 5/24 by applying with that link. If on the other hand, you see a range for the APR, do not apply for the card, it will be a hard inquiry for nothing. 

The next sort of bypass is actually pretty similar to the first method. However, instead of relying on what Chase is showing you, you can force them to show all of the offers. This is by going in person, and checking for any pre-approved offers. The person helping you should know the difference between an offer you’re approved for, and one that is just a promotion.

There have been other ways in the past to bypass the 5/24 rule. Probably the most common of which includes depositing a large amount of money in a Chase bank and then applying right after. Unfortunately, these methods no longer work. 

Business Credit Cards

There is one important thing to note about business credit cards though. The way the 5/24 is tracked is based on the number of credit cards in the last 24 months that show up on your credit report. For most (not all) business cards, the only part that shows up is the hard inquiry for the card. However, the account itself does not show up. This means that you could theoretically, you could have more than 5 cards and get approved for another personal Chase card. 

Before applying for a Chase business credit card though, you must actually be under 5/24. Once you get approved for the card, it will not count against your 5/24 status. It will only have an impact based on the application itself!

Recap

The 5/24 rule is probably the most infamous rule in the entire industry. This rule actually encourages people to sign up for Chase’s cards first before they build out any other setup. You don’t want to miss out on a large sign up bonus from Chase! If you happen to build out another credit card setup, or apply for too many cards from other issuers too quickly, you will have to end up waiting before you can apply for the next Chase card. 

As with any rule, they are meant to be broken, and this one is no exception. There are ways to get approved past 5/24, but they are getting harder and harder to do. With the way things are going, I would be surprised if we see stricter rules in the future.

What is your 5/24 status? Have you been approved above the rule? Let us know down in the comment section below. 

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