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? ›

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.

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.

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.

Both your credit score and your credit report are important factors that card issuers weigh when considering how to determine your credit limit. A higher credit score shows you have a good track record of paying your debts back and being financially responsible, so your credit limits may be higher vs.

The Chase 5/24 rule is an informal name given to a Chase Bank credit card approval policy. The rule states that your application for a new Chase credit card will most likely be denied if you have opened five or more personal credit cards (from any bank, not just Chase) within the past 24 months.

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.

2/30 Rule. The 2/30 rule says that you can only have two applications every 30 days or else you'll automatically be rejected.

If you have received a bonus for a Chase Sapphire Preferred® Card or Chase Sapphire Reserve® within the past 48 months, you cannot earn a new cardmember welcome bonus on a new Sapphire card. Period.

Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.

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.

How to get a $30,000 credit card limit? ›

To get approved for high-limit credit cards, you'll most likely need to have good or excellent credit and a steady income to support a higher credit limit. Picking the right card is important, too. You may be able to find the minimum starting credit limits listed in some cards' terms and conditions.

The highest reported credit limit for Chase is $100,000, on the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®. A limit this high is naturally only available to people with excellent credit and a high income.

How often does Chase increase credit limits? Chase may automatically increase your credit limit every six to 12 months if you're a borrower in good standing. Whether or not Chase will automatically increase your credit line depends on several factors, including your credit score, account history and credit utilization.

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.

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. Understanding this policy could be the difference between rejection or getting a lucrative new card.

The most important rule to consider in collecting points is the “5/24 rule.” The rule is simple: If you get 5 personal credit cards in any 24-month period, you're automatically prohibited from getting a 6th Chase or Capital One card.

Two Cards per 30 Days

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.

Qualifying transactions include debit card purchases, online bill payments, money orders or cashier's checks paid, Chase QuickDeposit^SM, Zelle^®, or direct deposits.