What is the Chase 5/24 Rule? 

Chase Bank has a rule for approving new credit card applications called the “Chase 5/24 Rule.” What it says is that Chase will typically deny credit applications for certain Chase credit cards if you have opened five or more new accounts within the last 24 months (thus the “5/24” moniker). The regulation applies to well-known Chase credit cards, including the Chase Sapphire Preferred, Chase Sapphire Reserve, Chase Freedom, and Chase Ink Business Preferred.

The Chase 5/24 Rule is designed to deter candidates who engage in “churning,” repeatedly opening and closing credit card accounts to benefit from sign-up bonuses. By implementing this rule, Chase hopes to reduce its exposure to clients focusing more on short-term gains than sustaining long-term banking relationships.

What is the 5/24 Rule?

The 5/24 Rule is a credit card approval guideline implemented by Chase Bank, which requires applicants to open five or more new credit card accounts in the previous 24 months. The rule discourages “churning,” a practice where cardholders rapidly open and close tabs to capitalize on sign-up bonuses. 

It aids Chase in risk management and enables them to focus on clients more likely to develop enduring connections with the bank. It’s important to note that the 5/24 Rule considers all credit card accounts opened across all banks, including authorized user accounts. Thus, it’s advised to prioritize applications for credit cards from other issuers or those not covered by the law before considering Chase cards if you surpass the five-card limit within 24 months.

How to check your 5/24 status

Determining your 5/24 status requires a manual calculation since no dedicated Chase 5/24 calculator exists. However, it’s a relatively straightforward process that you can undertake. 

Here’s how to check your Chase 5/24 status: 

1. Get a Copy of Your Credit Report 

Obtain free credit reports annually from major credit bureaus. Visit AnnualCreditReport.com to access all three accounts conveniently. Alternatively, you can get a free copy of your credit report from each of the three major credit reporting bureaus: 

• Experian 
• Equifax
• TransUnion 

2. Review Your Credit Report 

Then, examine your credit reports to compute your 5/24 score. Pay particular attention to the parts describing your open and closed accounts. Accounts opened within the previous 24 months count towards the total, even if closed.

In the instance where you have applied for credit and not been approved, it might be time to work on increasing your credit score. Check out these helpful tips on how to improve your credit score in under a month. 

3. Add Up Your Credit Card Applications 

Sum all credit cards accepted in 24 months to get a 5/24 score. If you have room for one more card and the total is four or fewer, you might be qualified for a different Chase credit card.

After acquiring your complete credit reports, make a spreadsheet for easier tracking and organizing. The number of credit cards you received approval for over the previous 24 months and the dates of each acceptance should be listed in this document. You can use this knowledge to choose when to apply for a new card.

You can determine your eligibility for Chase credit cards and decide whether or not to apply by following these instructions and manually calculating your 5/24 status.

Which Cards Are Subject to the Chase 5/24 Rule?

The 5/24 Rule impacts some well-known Chase credit cards. Below are some instances of Chase cards that the regulation has historically covered; however, the detailed list is subject to change over time.

Chase Personal Credit Cards

Chase Business Credit Cards

Visit Chase for the most up-to-date list of Chase cards that fall under the 5/24 rule.

Which Accounts Are Not Subject to the 5/24 Rule?

Even though it applies to many of Chase’s credit cards, certain accounts are exempt from the Chase 5/24 Rule. These are a few instances:

• Chase credit cards co-branded with airlines or hotel chains may not be subject to the 5/24 Rule. Examples of co-branded cards that might be exempt include the UnitedSM Explorer Business Card and the Southwest Rapid Rewards® Premier Business Credit Card.
• Due to different eligibility criteria, Chase business credit cards may not be subject to the 5/24 Rule.
• Individuals with a Chase Private Client relationship may be exempt from the 5/24 Rule for certain Chase credit cards.

Here are some examples of accounts that have historically been exempt from the 5/24 Rule:

• Chase co-branded credit cards (e.g., United MileagePlus Explorer Card)
• Certain Chase business credit cards (e.g., Ink Business Preferred Credit Card)
• Chase Private Client relationship (may provide exemptions for certain cards)

Refer to Chase’s recommendations and check with the bank for up-to-date information on 5/24 Rule exceptions.

What to Do If the 5/24 Rule Disqualifies You From Getting a New Card

Consider a few possibilities if the Chase 5/24 Rule prevents you from obtaining a new credit card. First, you can hold off until the 5/24 barrier is reached for the new credit card accounts you’ve created in the previous 24 months. You may progressively decrease your count and get access to certain Chase cards in the future by delaying making any new accounts for a while.

Several banks and financial organizations provide credit cards with benefits, perks, and sign-up bonuses. Find cards that suit your spending preferences and financial goals by researching and comparing them.

By being patient or considering credit cards outside of Chase, you can still enjoy the benefits and rewards of new credit cards while working within the constraints of the 5/24 Rule. It’s critical to consider your options, rank your needs in order of importance, and make an educated choice based on your unique financial situation.

Bottom Line 

The Chase 5/24 Regulation introduced by Chase Bank considerably affects the approval of particular credit card applications. Chase typically rejects your application for certain Chase credit cards if you have opened five or more new credit card accounts in the previous 24 months. This rule emphasizes fostering long-term banking relationships while discouraging “churning.” Examine your credit reports and add the amount of credit card accounts created during the previous 24 months to determine your 5/24 status. 

Prioritize credit cards from other issuers or those not governed by the rule if you exceed the limit. Alternatively, you can investigate credit cards provided by other institutions or wait until your account count falls below the cutoff. Understanding and navigating the Chase 5/24 Rule empowers you to make informed decisions, explore alternative options, and effectively manage your financial needs.

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