Chase Sapphire Reserve

As points, miles, and rewards credit cards have become more popular, issuers like Chase have implemented their own rules around credit card approvals.
Chase’s 5/24 rule dictates that you won’t be approved for most Chase credit cards if you’ve opened five or more credit cards across all banks in the last 24 months.
The Chase Sapphire Preferred Card, Chase Sapphire Reserve, Chase Freedom Unlimited, United Explorer Card and several other top rewards cards from Chase are affected by this rule.
If you’re just getting started with rewards cards, you’ll want to apply for Chase credit cards first.

“Travel hacking” — where you use credit card points and frequent flyer miles to book flights and hotels for little to no money — has become incredibly popular. And it’s not hard to see why; enjoying more travel for less cash is a win-win, and with the introduction of the Chase Sapphire Reserve a few years ago, some rewards credit cards are now household names.

If you’re looking to use points and miles to book travel, you’ll want to start using rewards credit cards and earning their sign-up bonuses. Not only do sign-up bonuses help you earn a lot of points or miles quickly, but after you open a rewards credit card, you’ll also earn additional rewards on all your everyday spending, and can enjoy additional perks like annual statement credits toward airline fees.

While credit card points can make travel more affordable, there are plenty of rules and idiosyncrasies to keep in mind. One of the biggest ones you’ll want to know about is Chase’s 5/24 rule.

What is Chase’s 5/24 rule?

Chase’s 5/24 rule prevents you from being approved for many Chase credit cards if you’ve opened five or more credit cards within 24 months. This means five credit cards across all card issuers — not just Chase — so if you’ve opened three Amex cards and two Bank of America cards within the past 24 months, you still wouldn’t be approved if the Chase card you’re applying for is subject to Chase’s 5/24 rule.

Having opened five or more card within 24 months essentially puts you in a “blackout” period, meaning you won’t qualify for most of Chase’s cards. When you’re no longer in this blackout period as time progresses, you’re “out from under 5/24.” You may also see people refer to this as having “5/24 slots free” again.

What credit cards are affected by Chase’s 5/24 rule?

The good news is that the 5/24 rule doesn’t apply to every single Chase card. However, most of Chase’s top rewards credit cards, including the Chase Sapphire Preferred Card and the Chase Sapphire Reserve, are subject to the 5/24 rule.

Here are some of the personal Chase credit cards known to be affected by the 5/24 rule:

Chase Sapphire Preferred Card

Chase Sapphire Reserve
Chase Freedom
Chase Freedom Unlimited
Chase Slate

Here are some of the co-branded Chase credit cards that are affected by 5/24:

British Airways Visa Signature Card
Disney Premier …read more

Source:: Business Insider


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Chase’s 5/24 rule: What it is, and what it means for your credit card applications

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