What Is a 5 24 Rule?
What Is the 5/24 Rule? 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...
What is the 5/24 rule? 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 do you know if you are under 5 24?
According to most recent data points, you will not technically be below 5/24 until the first day of the 25th month after your fifth account was opened. For example, if your fifth most recent account was opened on July 17, 2020, do not apply for a new card until at least Aug. 1, 2022.How do you get around the 5 24 rule?
You can bypass Chase 5/24 rule with the following exceptions:
- In Branch Pre-Approval Offer.
- In Branch Paper Application With A Business Relationship Manager.
- Online Targeted Just For You.
- Online Targeted Credit Card Offers.
- Fixed APR Term.
Maya is a hardware enthusiast who tests and reviews smart home devices, smartphones, wearables, and audio gear. She focuses on practical consumer value and build quality.
