Everything you need to know about Chase’s 5/24 rule

Chase’s 5/24 rule has become a hot topic in the points and miles world, with many travelers strategizing how to navigate this unofficial policy. The rule states that Chase will not approve a credit card application for someone who has opened five or more new credit cards from any issuer in the past 24 months. While this rule is not officially published by Chase, it has been widely discussed and dissected by credit card enthusiasts.

To be approved for a Chase card subject to the 5/24 rule, you must have opened fewer than five personal credit cards across all banks in the last 24 months. This means that even if you have closed some of these accounts, they still count towards your 5/24 status. Most travel cards issued by Chase, including cobranded cards, are subject to this rule.

While the 5/24 rule is a significant factor in Chase’s approval process, it is not the only one. Factors such as credit score, income, and debt levels also play a role. Additionally, applying for too many Chase cards too quickly can lead to account scrutiny and potential shutdowns.

For those looking to bypass the 5/24 rule, there have been instances where targeted offers have allowed cardholders to apply for Chase cards even if they are over the limit. However, these opportunities are rare and not guaranteed.

In conclusion, navigating Chase’s 5/24 rule requires careful planning and strategy. Understanding how the rule works and being mindful of your credit card application history can help you maximize your chances of approval for coveted Chase cards.