All About the Chase 5/24 Rule
What is the Chase 5/24 Rule?
Chase has a policy for all of their credit cards where you will not be approved for any of their credit cards if you have opened 5 or more personal credit cards from ANY bank in the last 24 months. This is important to know because Chase has some of the BEST travel rewards credit cards, including the Chase Sapphire Preferred® Card, World Of Hyatt, Southwest cards, and more! Because of this rule, I recommend prioritizing the Chase credit cards that you would like to open before opening credit cards from other banks.
Most Business Cards Do Not Count Towards Your 5/24
Almost all business credit cards do not count towards your 5/24 status, HOWEVER you need to be under 5/24 to be approved for any Chase business cards. Because there are so many good business credit cards issued by Chase, I try to stay under 5/24 so I can still be approved for Chase business cards. Once I am approved for a Chase business card though, that card will not count towards my 5/24 status!
Do Authorized User Cards Count Towards My 5/24 Status?
Chase’s automated system will count authorized user cards towards 5/24. Because of this, I recommend NOT adding an authorized user or being added as an authorized user to a credit card account.
You technically are not over 5/24 though. So if you are over 5/24 because of authorized user accounts and get denied for a card, you can call Chase and talk to an application specialist and ask to remove authorized user accounts when doing a manual review. Sometimes you’ll get customer service reps who will say that authorized user cards do count towards your total accounts, but the key is either to say, “No, I am not financially responsible for that account,” or to hang up and get another rep on the phone.
The simplest way is to NOT add yourself as an authorized user to any account.
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