Chase 5/24 Rule Now Official! Showing On Chase Sapphire Reserve Application Page

Update: The application link for this card went down, when it came back the language was removed.

We’ve known about the Chase 5/24 rule for awhile now, but it seems that Chase are now including it in the fine print of at least the Chase Sapphire Reserve card. It states:

You will not be approved for this card if you have opened 5 or more bank cards in the past 24 months.

chase sapphire reserve

I’m not currently seeing this on any other cards issued by Chase, but as we know this isn’t the only card affected by this rule and not all cards issued by Chase are affected either. Also keep in mind it is possible to bypass this rule, the most common way is through an in branch pre-approval (I’d strongly recommend reading our F.A.Q about this here).

Interestingly the official rule states that if you have opened 5 or more bank cards in the past 24 months, you’re disqualified. I assume this means that store cards and other loans on your credit report will not be counted (what we previously expected). I’m honestly a bit surprised Chase didn’t have this language on the application pages sooner as it was misleading not having this criteria publicly available.

Hat tip to reader Peter C

Subscribe
Notify of
guest

54 Comments
newest
oldest most voted

Ozymandias
Ozymandias (@guest_654018)
October 8, 2018 11:40

Was told by Chase today that my Target store card counted against my 5/24 status, making me ineligible for a card I applied for. Tried to argue that it could only be used in store, I thought that was permissible, etc, but was told no dice. HUCA, same result.

Jiujitsudude
Jiujitsudude (@guest_398547)
May 1, 2017 02:54

Can verify 5/24 doesnt look at store specific cards. I was right on the dot with 5 opened cards in last 24 months including a Sears and Amazon store card, but was approved for Chase’s Southwest Rapid Rewards Credit Card.

Chuck
Editor
Chuck(@chucksithe)
May 1, 2017 13:18

Were you instantly approved or approved later?

Jiujitsudude
Jiujitsudude (@guest_398755)
May 1, 2017 13:19

Instant approval.

AZ
AZ (@guest_302892)
October 3, 2016 13:35

My husband is 6/24, Score 720s, he has one credit card only with Chase (Slate). We went to a nearby Chase branch and he was approved for 12k immediately!

John
John (@guest_292649)
September 7, 2016 16:35

Got denied and I have 850+ credit. O well, your lose Chase. I’ll stick with my Citi Prestige card.

AZ
AZ (@guest_302893)
October 3, 2016 13:36

Apply in branch.

Claire
Claire (@guest_291121)
September 2, 2016 13:21

I had 5/24 plus many recent auth user cards. Got the 7-10 day denial. Called reconsideration and after moving credit limit over from 2 hotel cards, was approved. This is my 9th Chase card plus 3 auth user cards just from them. The big question seemed to be who paid the bills on my auth user cards, me or spouse. I said they were just for convenience and spouse paid the bills.

Cindi Anderson
Cindi Anderson (@guest_291154)
September 2, 2016 15:19

Thanks Claire. Your post gives me hope. I will call also and see if I can finagle it.

gary
gary (@guest_293510)
September 10, 2016 08:45

i got the we’ll let you know message and got the letter in the mail being denied for too many accounts opened in the last 24 months. Is it worth even calling the reconsideration line? did your letter say because of too many accounts in last 24 months?

Steve
Steve (@guest_290786)
September 1, 2016 19:47

I applied online a week ago before I knew that they were applying 5/24. I am over 5/24 obviously. Sure enough at the end of the app I got the we’ll let you know message, so I was not holding my breath. Was planning on going into the local branch tomorrow to try that route.

Well lo and behold not 30 minutes ago I got an email from Chase welcoming me to my Chase Sapphire Reserve card and that I would be receiving the card “soon”. So go figure.

waluigi
waluigi (@guest_290760)
September 1, 2016 18:11

5/24 language has now disappeared from the application page

Jon
Jon (@guest_290636)
September 1, 2016 13:32

The wording they use is they can deny you based on your credit report. Information in your report includes accounts opened. For whatever reason, I got the CSR with more than 5/24 with in branch pre-approval, after being denied the United 70k offer a month earlier for an online app. What bothers me is that I was targeted for the 70k offer, with the only stipulation being that I could not receive the bonus if I’d gotten that in the last 24 months. That may be actionable.

tim
tim (@guest_290564)
September 1, 2016 11:30

Now if only Amex would be upfront with their application standards. I applied for a Delta Platinum card with them, was approved, put more than the required minimum on it, still didn’t get the bonus after 4 months and paying the first year fee, and was then told that I wouldn’t get the bonus because I had already had a version of the card (which I hadn’t). The first time cardholder rule was stated in the application, but if they were going to interpret that I had already had the card I wish they had not approved me. Now I’m trying to get them to show me exactly when they thought I had had the card in the past, and they are indicating to me in chats and a postal letter that the issue is over for them.

Cowboyguy
Cowboyguy (@guest_290546)
September 1, 2016 10:39

I’m surprised no one is discussing this:

I was preapproved and applied in branch, didn’t get the decision instantly. They said it will take 30 days. I’ve been calling daily, and they keep on saying 30 days.

They say its bcoz of the high volume of apps. If that’s the case, is no one else having this issue?

Secondly, even though I was preapproved and applied in branch, I was over 5/24 rule. Since they are manually processing the app now, does it mean I’ll get denied?

GAbe
GAbe (@guest_290553)
September 1, 2016 11:00

In the exact same boat. I plan to wait it out, no calls.

GAbe
GAbe (@guest_299170)
September 25, 2016 23:29

Just to update my own experience: I got a letter in the mail asking for me to contact them urgently to update my income. I did not. I was approved after approximately 20 days.

Eric
Eric (@guest_290560)
September 1, 2016 11:19

@Cowboyguy I don’t think you were preapproved. Did your T&Cs that the banker print out contain a fixed APR or a range APR? If your T&C papers contained a fixed APR, you were correctly preapproved but if your T&C papers contained a range APR, then you were not preapproved despite what the banker said.

Paul
Paul (@guest_290591)
September 1, 2016 12:08

No. 5/24 is an automatic rule that processes at the time of application. Later on, a recon rep could decide to cite it to you. But 30 days message means you weren’t zapped off the bat.