Credit Card Rules: What is the Chase “5/24” Rule?

Any opinions, analyses, reviews, or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by our partners, including American Express and Chase

If you’ve been following Cards for Travel for awhile, or have applied for more than a couple of credit cards over the last few years, you’ve most likely stumbled upon what the internet refers to as the Chase “5/24” Rule.

While there is no official bank documentation outlining this policy, it’s widely referred to by points and miles collectors and important to  understand. The gist of the 5/24 rule is this: If you have opened 5 or more new credit cards in the past 24 months (from any issuing bank), you will not be approved for a new credit card from Chase.

Whether you have loved new credit cards and the signup bonuses that come along with them for awhile, or if you’re just getting your first travel rewards credit card, here are a few things you should know about the 5/24 rule:

  • The rule affects applications for Chase personal and small business credit cards (including the Chase Sapphire Preferred and Ink Business Preferred).
  • The number of credit cards opened in the last 24 months is a rolling count. If, for instance, your 5th newest card was opened 23 months ago, you’ll be eligible again in just one month.
  • Small business credit cards do not count towards your 5 cards.
  • If you’re a Chase Private Client (someone with over $250,000 in assets with Chase Bank), you may be exempt from this rule.
  • If you are an authorized user of another card (i.e. your spouse’s card), it will count towards your 5/24 card tally.
  • Even if you’re under 5 card applications, you could still be declined for a card application for another reason.

How 5/24 May Affect your Card Eligibility

If you are new to travel credit cards and/or haven’t opened any new card accounts in the last two years, and you want to get a Chase Ultimate Rewards earning card like the Chase Sapphire Preferred or the Ink Business Preferred, we recommend that you prioritize these. After that, consider Chase’s other co-branded cards like the Southwest or United Explorer cards.

If you do plan to apply for more than one or two cards in a two year period, we recommend keeping track of the application dates of all your credit cards. If you have opened credit card accounts in the past 24 months and didn’t keep a record, you can request any one of your annual credit reports for free to see when you opened them.

It’s also important to note that each individual card issuing bank has it’s own rules similar to 5/24 which limit how often you can get a signup bonus. We’ll cover the rules for Citibank and American Express in the next weeks.

In the meantime, if you don’t have an Ultimate Rewards earning card yet, and if you aren’t over 5/24, you’ll want to check out our most recommended card.