How the Chase 5/24 rule works and what it means for your Chase credit card applications (2024)

FAQs

How the Chase 5/24 rule works and what it means for your Chase credit card applications? ›

What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

What is the Chase 5/24 rule? According to the 5/24 rule, you won't be approved for a Chase credit card if you've opened five or more cards from any bank (excluding most business credit cards) in the past 24 months, even if you have an excellent credit score.

The only confirmed method for bypassing the Chase 5/24 rule requires already being a Chase customer. Some customers may receive a targeted "Just for You" credit card offer through their online account.

Chase 2/30 rule: Too many new cards in one month? Some credit card experts believe that Chase is also likely to decline new card applications if you have opened two credit cards within 30 days. This is known as the "2/30 rule." Because I had just opened two new cards, Chase was reluctant to let me open another.

How do I check my 5/24 status? Download a copy of your free credit report from one of the three bureaus (Transunion, Equifax or Experian) and count all the credit card accounts that you've been approved for in the last 24 months (also count closed accounts). Add up all these credit card accounts to get your 5/24 score.

No, Chase does not have a 5/24 rule, which means Chase will not automatically reject an application just because you've opened five or more credit card accounts during the past 24 months. Although Chase was rumored to have a 5/24 rule, Chase has never openly stated that the rule is real.

Chase's 5/24 Rule: With most Chase credit cards, Chase will not approve your application if you have opened 5 or more cards with any bank in the past 24 months. This is true for Chase business cards too: you won't be approved if you are over 5/24.

Chase 5/24 rule exceptions

Credit accounts that are excluded from the Chase 5/24 rule include: Credit cards you were denied for. Small business credit cards (except the ones noted above) Auto loans.

Hard pulls can affect your credit score and may also hurt your eligibility for new credit cards and/or loans — especially if the number of inquiries reaches six.

This is what Chase states on its website regarding Chase Sapphire Preferred bonus eligibility: The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.

How often does Chase increase credit limits? ›

How often does Chase increase credit limits? Chase may automatically increase your credit limit every six to 12 months if you're a borrower in good standing. Whether or not Chase will automatically increase your credit line depends on several factors, including your credit score, account history and credit utilization.

What is the Chase 5/24 rule? In order to be approved for any Chase card subject to 5/24, you cannot have opened five or more personal credit cards across all banks in the last 24 months (more on business cards in a moment).

What is the Chase 5/24 rule? Chase will not approve new credit card accounts to applicants who have opened more than five new credit card within the last 24 months. It doesn't matter if these accounts have been opened with Chase or with another card issuer, they will still count each towards the five credit card limit.

Re: Recent data points on bypassing 5/24 in branch with Chase The only reliable known way to bypass the Chase 5/24 rule is with a pre-approval. Without a pre-approval, you have near zero chance of approval.

Needless to say, there's an easy way around the Chase 5/24 restriction -- just stop opening credit cards, and after 24 months (or less unless you applied for all 5 of your most recent accounts on the same day), you'll be eligible for Chase cards again.

Even some department store credit cards count toward the five-card limit in 24 months — however, student loans, mortgage loans, and car loans are not included in this rule.

Two Cards per 30 Days

Chase reportedly limits credit card approvals to two Chase credit cards per rolling 30-day period. Data points conflict on this, but a safe bet is to apply for no more than two personal Chase credit cards or one personal and one business Chase credit card every 30 days.