![]() ![]() Because of this delay, your manual tracking may not accurately match Chase’s count. ![]() But be aware this method is not exact because there may be a delay of when the bank reports your new accounts to the credit bureaus. By tracking each account opening date, you’ll have a good idea of your Chase 5/24 status. Many people track their credit applications with a notebook, Google Doc, Excel file or other methods. Review your credit reports and add up the new accounts opened in the last 24 months. Obtain a free copy of your credit report via from each of the three major consumer credit bureaus - Experian, Equifax and Transunion. If you’re unsure of your Chase 5/24 status, there are ways to check before applying for a new Chase card: ![]() In short, it’s smart to check your 5/24 status before applying for any Chase-issued credit card. For example, some Capital One business cards have been known to show on the cardholder’s personal credit. And, if you have a business card from another issuer that shows on your personal credit reports, expect that to count for 5/24 purposes too. That’s because business credit cards from most issuers don’t typically appear on your personal credit report.īut note, Chase will count their own small business cards toward your 5/24 count. For example, if you applied for and were approved in the last 24 months for four consumer cards from any issuer (including Chase) and one small business credit card from another issuer, your status would likely be considered by Chase to be 4/24. However, business credit cards from other issuers may not be counted. The 5/24 rule affects both personal and small business credit cards, including both Chase-branded cards and co-branded cards. However, as time passed, Chase updated its guidelines to include all Chase credit cards. When the Chase 5/24 rule was first implemented in 2016, certain credit cards were excluded. Applications for a new Chase card coming from anyone who is at or over 5/24 will generally be declined by the bank. Unlike most other bank application rules, Chase’s 5/24 rule includes all credit cards you’ve opened with any issuer, not just with Chase. This can weed out someone who plans to “churn” credit cards to earn multiple welcome bonuses as rapidly as possible, then close the account shortly thereafter, which is expensive for banks. This is where the term “5/24” comes from.Ĭhase’s 5/24 rule limits the number of new Chase credit card accounts that can be opened by the same applicant in a short period of time. Chase will review the new accounts you’ve opened in the last 24 months to see if you’ve opened five or more new credit cards in the last two years from any bank. When you apply for a new credit card, the card issuer has your permission to pull your credit report. Learn how it works, which cards it affects and how to check your 5/24 status. Understanding this policy could be the difference between rejection or getting a lucrative new card. The 5/24 rule blocks applicants from opening a Chase credit card if they’ve opened five or more cards from any issuer in the past two-year period. ![]() One of the most widely-known policies is the unwritten Chase 5/24 rule. However, banks implement rules restricting welcome bonuses to discourage people from churning cards and becoming unprofitable customers. Getting a new credit card and earning the associated welcome bonus is one of the quickest ways to rack up a pile of rewards, and Chase is one of the top issuers of rewards cards on the market today. ![]()
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