How the Chase 5/24 rule works and what it means for your Chase credit card applications (2024)

FAQs

How the Chase 5/24 rule works and what it means for your Chase credit card applications? ›

Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

The 5/24 rule is an unofficial policy that dictates that Chase won't approve you for its cards if you've opened five or more personal credit card accounts from any issuer in the last 24 months. Put simply, the number of cards you've opened in the previous two years will affect your approval odds with Chase.

How to bypass the Chase 5/24 rule? If you've been approved for five cards in the past 24 months, you will not be approved for another Chase card thanks to the 5/24 rule. There have been reports of “Selected for you” and “Just for you” offers being exempt from the 5/24 rule.

The following accounts will not count toward your 5/24 standing: Cards for which you applied but were ultimately denied (credit inquiries aren't counted) Small-business cards from the majority of card issuers, with the known exceptions listed above. Auto loans, student loans and mortgages.

This means that if your credit report shows that you've opened 5 or more cards in the past 24 months, Chase won't approve your new business card application. That said, if you do get approved for a Chase business card, it won't add to your count.

Hard pulls can affect your credit score and may also hurt your eligibility for new credit cards and/or loans — especially if the number of inquiries reaches six.

Lowered average age of accounts: Credit card churning can hurt your credit scores because each new account lowers the average age of your credit accounts. In general, a higher average age of accounts is best. Closed credit cards can continue impacting age-related scoring factors until they fall off your credit reports.

Chase reportedly limits credit card approvals to two Chase credit cards per rolling 30-day period. Data points conflict on this, but a safe bet is to apply for no more than two personal Chase credit cards or one personal and one business Chase credit card every 30 days.

Getting a new loan, like a mortgage, auto loan or student loan will not affect your Chase 5/24 status. But, home equity lines of credit or a personal line of credit may. In general, your 5/24 status primarily counts personal revolving credit accounts.

What is the 2 year rule for Chase credit cards? ›

Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

The Chase 5/24 rule, however, does not look at hard inquiries—it looks at credit card accounts that were opened in the past 24 months. Hard inquiries, along with other aspects of your credit reports, may be used in the overall approval process, but only opened accounts affect your 5/24 limit.

It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.

Do product changes affect my 5/24 count? According to user reports, downgrading from one card to another, such as the Chase Sapphire Reserve^® to the Chase Sapphire Preferred^® Card, won't be counted against you. If, before the downgrade, you were at 4/24 then you'd remain at 4/24.

If you apply for a credit card with Chase, we may provide important updates until we make a decision on your application. If you urgently need an update, please refer to any communications we've sent or call us at 1-888-338-2586. You can also call this number to check a Chase business credit card application status.

The Chase 5/24 rule primarily applies to credit card accounts. It counts the number of credit card accounts you've opened in the past 24 months when considering your eligibility for certain Chase credit cards. Loans, such as personal loans or mortgages, are typically not counted as part of the 5/24 calculation.