The Chase 5/24 credit card rule

The Chase 5/24 rule is a credit card approval rule that limits the number of new credit card accounts an individual can open within a 24-month period. If an individual has opened 5 or more new credit card accounts within the past 24 months, they will likely not be approved for a new Chase credit card. Here are some strategies to deal with the Chase 5/24 rule:

  1. Wait: If you have recently opened 5 or more credit card accounts, the simplest strategy is to wait until the 24-month period has passed before applying for a new Chase credit card.
  2. Prioritize Chase Cards: If you are planning to apply for several credit cards, consider applying for Chase credit cards first, before applying for cards from other issuers. This way, you can maximize the number of Chase cards you can get before reaching the 5/24 limit.
  3. Use a Pre-Approval Checker: Some Chase credit cards offer pre-approval checkers, which can tell you if you are eligible for a particular card before you apply. This can be a helpful tool in determining which cards you can still apply for, based on your credit card history.
  4. Focus on Business Credit Cards: Business credit cards are often not counted towards the 5/24 rule. If you own a small business, consider applying for a Chase business credit card, which will not affect your eligibility for a personal Chase credit card.Focus on Business Credit Cards: Business credit cards are often not counted towards the 5/24 rule. If you own a small business, consider applying for a Chase business credit card, which will not affect your eligibility for a personal Chase credit card.Focus on Business Credit Cards: Business credit cards are often not counted towards the 5/24 rule. If you own a small business, consider applying for a Chase business credit card, which will not affect your eligibility for a personal Chase credit card.
  5. Open Authorized User Accounts: Adding an authorized user to an existing credit card account will not count towards the 5/24 rule. Consider adding a family member or friend as an authorized user on one of your existing credit card accounts.
  6. Take Advantage of Limited-Time Offers: Chase sometimes offers limited-time sign-up bonuses for certain credit cards. If you are eligible for a card that is offering a particularly attractive bonus, it may be worth applying for the card, even if you are close to reaching the 5/24 limit.
  7. Check the Exclusion List: Some Chase credit cards are excluded from the 5/24 rule, such as certain business cards and cards issued by other banks. Check the exclusion list before applying for a card, to ensure that the card you are applying for is not subject to the 5/24 rule.

In conclusion, the Chase 5/24 rule can be a challenge when applying for a new Chase credit card, but with a little strategy and planning, you can still be eligible for a new card. Whether you wait, prioritize Chase cards, use a pre-approval checker, focus on business credit cards, add authorized users, take advantage of limited-time offers, or check the exclusion list, there are several strategies you can use to deal with the Chase 5/24 rule.