Chase’s 5/24 rule really rocked the boat last year when it came to light what was happening. For those of you that haven’t heard of the rule or aren’t entirely clear what it means; Chase will not approve you for [most] new credit cards if you’ve gotten five or more new credit cards within the last 24 months. Luckily for us, there are exceptions to this rule both in the form of cards that don’t count toward your 5/24 status and cards that are not bound by the 5/24 rule.
Cards You Can Get if You’re Over 5/24
There are a handful of Chase cards that don’t seem to obey the 5/24 rule, meaning that you can still get the card if you are over 5/24, at least most of the time. These cards generally include non-Ultimate Rewards-earning credit cards that only have a personal version and do not have a business version of the card. These cards are:
● Chase AARP Credit Card
● Chase Amazon Credit Card
● Chase Disney Credit Card
● The Hyatt Credit Card
● IHG Rewards Club Select Credit Card
● Marriott Premier Business Card
● The Ritz-Carlton Rewards Credit Card
For the most part, these Chase cards are all cards that don’t offer a business credit card option. The exception to this is the Marriott business credit card – which does not fall under the 5/24 rule, but the personal version of the card does! There have been reports of people being declined for the Marriott business card due to being over 5/24, but there are many reports of success as well.
If you’re over 5/24 but otherwise have a healthy credit score and good payment history, you should see success in applying for the cards listed above.
Cards That Don’t Count Toward 5/24 Status
Some cards won’t count toward your 5/24 status either because Chase doesn’t know about them or they’re not really *your* card (i.e. an authorized user card). In the later case, however, a call in to Chase will be required to plead your case. There are a number of datapoints where people report bypassing 5/24 just by chance; definitely don’t count on this happening but if you need a last ditch effort you do have one.
The only cards that don’t show up on your personal credit report are business cards that you apply for. Keep in mind, though, that Chase will know which of their business cards you have gotten in the past! For example, a business card issued by Citi or American Express will not be reported on your personal credit report and Chase will not see it when they determine if you are under or over 5/24. A Chase business card will also not be reported on your personal credit report, but Chase will know about that card from their internal records so it will be used in determining your 5/24 status.
If you have been added as an authorized user on another personal credit card, that will be reported on your personal credit card, unfortunately. Chase will consider that, at least initially, when determining your 5/24 status. If you find that you’re in this situation, you can call Chase’s reconsideration line and tell them that one (or more) of the cards on your credit report are authorized user cards. Many people have reported being approved for a new Chase card despite being over 5/24 inclusive of authorized user cards.
In addition to the cards listed above, store cards that are only valid for use in a single store (not issued by Visa, Mastercard, etc.) also will not count toward your 5/24 status. So, if there’s a store card that is offering a good discount on a purchase you’re making, you don’t need to worry about that jeopardizing your ability to apply for a better Chase card later on!
If you’re trying to get under 5/24 so you can be approved for some new Chase cards that are subject to 5/24, focusing on non-Chase business cards is a good way to go if you don’t want to stop earning sign-up bonuses in the meantime.
Other Strategies for Getting Around 5/24
If there’s a card that you want that does follow the 5/24 rule, you might not have to wait until you’re under 5/24 if you take a look at the strategies below.
● In branch offers: Many people have successfully gotten around 5/24 by applying for cards in a Chase branch by applying for a pre-approved offer. You can ask to see if pre-approved offers are available or you can just go in and see if you are told about any offers without prompting the banker. The second option usually has better results.
● Targeted offers: If you get a targeted offer in the mail, you may be able to get around 5/24.
It used to be possible to get around 5/24 by becoming a Chase Private Client, but this is no longer a reliable method for getting around 5/24. You can read more about strategies for getting around 5/24 here.
If you haven’t been able to get around 5/24 with any of the methods listed above but there’s a card you really want, your best options are to either wait or do a product change. You can either wait until you’re under 5/24, until you get a targeted offer, or until something new (and better) comes along. If you have another Chase card, you can also consider doing a product change. I had two Chase Freedom cards and upgraded one to the Chase Sapphire Reserve because I was way over 5/24 and didn’t want to wait. You should weigh the benefits you will get from the new card to determine if it is worth forgoing the sign-up bonus by upgrading.