If you're interested in Chase credit cards, there's one rule you absolutely need to know about - the 5/24 rule. Let's break down everything you need to understand about this important policy.

What's the 5/24 Rule?

Since June 2015, Chase has maintained what we call the 5/24 rule. The concept is straightforward: if you've opened five or more personal credit cards in the last 24 months, Chase will decline your application for a new card. This applies regardless of your income or credit score.

Why Does Chase Have This Rule?

Chase implemented this rule to discourage short-term card opening for welcome bonuses. They're looking for long-term cardholders rather than those who might open cards just for initial rewards.

What Counts Toward Your 5/24 Status?

Personal Credit Cards

Any personal credit card opened in the last 24 months counts toward your total, even if you've since closed the account.

Authorized User Cards

Being an authorized user typically doesn't affect your 5/24 status. If it comes up during your application, you can call the reconsideration line (1-800-453-9719) to clarify your status.

Store Cards

Store-specific credit cards usually don't count toward the rule. Again, the reconsideration line can help if these appear as an issue.

Loans

Good news: mortgages, car loans, and leases don't count toward your 5/24 total.

Business Cards and 5/24

Most business cards don't count toward your 5/24 status. However, be aware that some banks report business cards to personal credit reports, and these will count toward the rule.

How Is It Calculated?

The rule operates on a rolling 24-month window. For instance, if you opened your fifth card on September 15, 2022, you'll need to wait until October 2024 before becoming eligible for Chase cards again.

Affected Chase Cards

The rule applies to most Chase cards, including:

Personal Cards

• Chase Sapphire Preferred® Card
• Chase Sapphire Reserve®
• Chase Freedom card family (Unlimited, Flex, Rise, Student)
• Chase Slate Edge℠

Travel Cards

• Marriott Bonvoy cards
• United card lineup
• The World of Hyatt Card
• Airline cards (British Airways, Iberia, Aer Lingus, Aeroplan)
• IHG Rewards cards

Working Within the Rule

While the rule is generally strict, there are two potential exceptions:

Pre-Approval Option

Watch for the green pre-approval star in your Chase account that says "You are already approved." This might allow you to bypass the rule.

In-Branch Applications

For business cards, applying in person with a business relationship manager and proper documentation can sometimes help your approval chances.

Note: Chase Private Client status no longer provides an exemption from this rule.

Remember, understanding this rule helps you plan your credit card strategy more effectively. Keep track of your application dates and plan accordingly to maximize your chances of approval.