What the rule is
"5/24" is the name card-rewards readers use for a Chase approval pattern: if you've opened five or more credit cards in the past 24 months, Chase will generally decline your application for many of its cards, even with strong credit and income. Chase doesn't publish a full description of the rule, so most of what's known comes from applicants' reported experiences. Treat the details below as common reports, not official policy.
How to count
- Pull your credit reports (you can get free reports from each of the three major bureaus).
- List every credit card account opened in the last 24 months, by open date.
- Count them. If the total is 5 or more, Chase is likely to decline you for now.
Things readers commonly report:
- Cards from any bank count, not just Chase cards.
- Being added as an authorized user on someone else's card can show up as a new account on your report.
- Most small-business cards don't appear on personal credit reports, so they usually don't add to the count, but some issuers' business cards do report.
- An account drops off your count about 24 months after it was opened.
Check your own reports rather than relying on memory.
Why the order of applications matters
If you're interested in a Chase card and other banks' cards, applying for the Chase card first while you're under 5/24 keeps that option open. Once you reach five new accounts, you'd generally have to wait until older accounts age past 24 months.
Other limits to know
5/24 is separate from each card's own bonus rules. Many Chase cards also say the bonus isn't available if you currently hold the card or received its bonus within a set period, such as 24 months. Read the offer terms on Chase's page before applying.
Related
This guide is general information, not financial advice. A new card means a hard credit inquiry, which can lower your score for a while.
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