What is the Chase 5/24 rule?

Adam Frankel
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Adam Frankel
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What is the Chase 5/24 rule?
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Chase is known for offering some of the best credit cards you’ll find in a wide variety of categories, from its premium travel card_name to business powerhouse card_name. But you can’t just go hog wild and sign up for all the tempting Chase cards available, even if you have perfect credit and not a penny of debt.

That’s because of an unofficial rule known as the “Chase 5/24” rule that prevents you from getting approved for too many Chase personal cards in too short a period of time.

Here are the details on how this rule works and what you need to know. Keep in mind that since Chase does not have any publicly published information, what is known is based on crowdsourced information and is subject to change at any time.

Chase 5/24 rule explained

The Chase 5/24 rule means that if you’ve signed up for five or more new personal credit cards from any issuer within a 24-month period, Chase probably won’t approve you for another one. Although the 5/24 rule isn’t formally published anywhere by Chase, it’s widely speculated in the points-and-miles community that this rule exists. 

Why does Chase have this rule?

One of the quickest ways to amass a pile of points is via new card sign-up offers where you earn a big bonus for meeting a minimum spending requirement.  Banks offer them to entice new customers, but if that customer earns the welcome offer and then never uses the card or eventually cancels it, the bank loses money. 

The 5/24 rule is a way for Chase to help prevent bonus-seekers from signing up for multiple cards in a relatively short period of time just to earn those welcome offers, a process also referred to as “churning.” 

This rule specifically applies just to Chase, although each bank is likely to have their own policies in place when it comes to preventing consumers from churning their cards.

Chase 5/24 rule exceptions

It’s not quite as cut-and-dried as five cards within 24 months. There are some notable exceptions to the this unofficial rule. Here are some key points to be aware of:

  • Any personal card from any issuer can count towards 5/24.
  • Chase’s small business Ink cards do not count towards 5/24, but if you are already at 5/24 you may not get approved for a Chase Ink small business card.
  • Some small business cards from other issuers that report to your personal credit may count towards your 5/24 .

Which cards count towards the 5/24 limit? 

All of Chase’s personal credit cards and co-branded credit cards will count towards the 5/24 limit. As mentioned above, Chase’s suite of Ink Business cards do not directly count towards the 5/24 limit but if you are at or above 5/24 you’re not likely to be approved for an Ink card.

Additionally, personal cards from other issuers, charge cards and many retail store cards are also likely to count towards your 5/24 status. Other types of loans, like student loans, mortgages and auto loans are not counted toward the limit.

There are conflicting reports about which business cards will count as 5/24. Ultimately it will come down to if the particular small business card will report the account opening to the consumer credit bureaus (in which case it will count against 5/24) or if it reports to business credit reporting agencies.

How do I check my 5/24 status?

The easiest way to check and see your recent card account opening history is to download the free Experian app which will allow you quickly view the history of your current accounts and the date they were opened. Another option is to check your credit report, which will also show your account history and the date you opened any of your credit cards. You’re entitled to a free credit report weekly from each of the three main credit reporting agencies through AnnualCreditReport.com.

author
Adam Frankel
Cardratings Contributor

Adam B. Frankel is a freelance personal finance writer and portfolio manager. He and his wife began collecting credit card points and miles when they became parents and have leveraged their knowledge to explore the world with their family. When he's not managing money in the stock market, he teaches financial topics and other core concepts at local schools from elementary through high school.

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