Posted by William Charles on May 24, 2016
Credit Cards

Published on May 24th, 2016 | by William Charles


Chase 5/24 Rule Now In Effect For Most Credit Cards

Update: Ritz-Carlton isn’t affected.

Unfortunately it seems that the dreaded 5/24 rule is now in effect for most Chase credit cards. For those not familiar with Chase 5/24 rule, here it is:

  • If you have five or more new credit card accounts (and this includes all credit cards, not just those issued by Chase) you will be denied. Authorized user cards are also included in this if they appear on your credit report.

When Did This New Policy Go Into Effect?

According to my source at Chase, this new rule will be applied to all cards that were applied for on or after May 22nd (possibly May 23rd), 2016. If you applied for cards before this date, the rule will not be applied.

What Cards Are Affected?

According to my source at Chase, the new rule applies to the following cards (I’m now only including DPs that are a hard denial rather than a pending message – even though they will most likely be denials):

  • Chase Business Ink Plus/Cash: 1
  • All Chase Marriott Personal Cards (I assume Ritz-Carlton is included in this as well): 1 (one DP against this, although they are at 6/24 and three are business cards so might not be above 5/24: 1 & another 2)
  • All Chase Southwest Cards: 1 (one DP against this: 1)
  • All Chase United Cards: 1, 2, 3 (one DP against this: 1)

Of course all Chase branded personal cards are already under this rule as well.

What Cards Aren’t Affected?

Everything not listed above (and Chase personal branded cards that were already affected) should still be OK (no promises here, I’ve included data points on people that were approved below). This includes the following:

  • Chase IHG: 1, 2, 3, 4, 5, 6
  • Chase Hyatt: 1, 2, 3, 4, 5
  • Chase British Airways: 1, 2, 3, 4, 5 (via e-mail), 6, 7
  • Chase Disney:
  • Chase Fairmont: 1, 2-4, 5
  • Chase Marriott Business:
  • Chase Ritz-Carlton: 1, 2, 3, 4 (all via e-mail)
  • Chase Amazon:
  • Chase AARP:

So there is some silver lining to this change. I assume these cards aren’t currently included due to existing contracts with Chase, or the co-branded partners not wanting this new rule applied to their cards. This could also somewhat explain why the change took longer than we first expected.

What Should You Do?

If you’ve applied for any Chase card, do not call Chase reconsideration. If you applied before the 22nd then you’re application should process naturally and 5/24 shouldn’t be applied to you. If you call, they might apply it to you. It might be worth applying for the cards that we don’t think are affected, but that is up to you.

Keep in mind nothing is confirmed 100% yet, I’m just sharing the data we have.

How Can You Get Around This New Rule?

Chuck has posted a dedicated thread to getting around this new rule, found here.

Our Verdict

This obviously isn’t good news at all, hopefully the co-branded partners that haven’t opted in for this new rule stay that way. If you have any data points, please share them in the comments and I’ll add them. Fingers crossed my source has this information wrong and the datapoints we’ve seen so far are also wrong.

If you do share any data points, please include the date you applied, what the card was and whether you were approved/denied.

Also two pieces of interesting information:

This isn’t the case for any of the cards where the 5/24 rules don’t apply currently. This leads me to believe they have a different contract/set up with Chase.

See also Bypass 5/24: Getting a Chase Pre-Approved Credit Card Offer for some potential ways around the 5/24 rule with pre-qualified or targeted offers.

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Wow, guess I was lucky. Applied for Southwest Plus with 50K offer on 5/20 and instantly approved. Definitely over 5/24, although not absurdly. Was thinking I better grab it to get the Companion Pass while the window was still open (got the Premier a few months ago).

Thank you Chase! I will take good care of my Ink Plus and Freedom 🙂

I applied for the business Marriott yesterday and it went pending… I’m following advice of several blogs and waiting rather than calling reconsideration. I probably have 22-25 hard pulls over the last 2 years.

It doesn’t show up yet in my account, but I got an email saying my card is on the way and listing the last 4 of the account. Even with combined inquiries, I had to be over 16 hard pulls in the past 24 months.

Applied late Saturday night (Sunday morning) for Marriott biz. Went pending and got approval today. Way over 5/24 rule

Lol. Of course I apply for the southwest card 2hrs before this post (denied for 5/24 obv)

Jordan, was it Instantly denied?

No, went to pending. I called figuring they needed me to move some credit, as I have a lot of credit w/ chase. He came back and said I was denied for inquiries and recent accounts and that it was not overturn-able

App’d for SWA Plus Personal today. Pending. Called Recond. Denied specifically for “Too many new accounts in the last 24 months”. Escalated and was transferred to Resolution Specialist. Cited the same reason “too many new accounts in 24 months” and said that there was no option to move CL around or anything due to the reasoning for the denial. Sucks, was hoping to grab the CP.

Alas. I will have to seriously consider taking a long hiatus from churning so I can get the Southwest cards and CP again. Maybe I could focus on MS in the meantime.

What about having the companion apply for SW cards?

Possible! Though I like to use the CP for multiple companions and friends.

Was approved this past weekend for 1 business ink plus and 2 SW personal cards.

This is bad news. Fortunately was able to get two SW cards over the past couple of month and pretty close to getting CP. Bad news is that I was hoping to get the United card sometime in Oct (24 month since last one), but that’ll not be happening any time soon. Already have IHG card, might consider BA or Hyatt if things will really dry up. Bad year for churning :/

Glad I got my INK Plus on May 16!

Applied for Southwest Plus on April 28. Pending since then with no news from Chase. First time ever for something to be pending more than a day or two. Was expecting 30 day denial, but got email announcing new account yesterday (5/23). Whew. I’m more like 14/24, including Freedom, AARP (don’t judge me), Ink+. Now I’m wondering if SW+ app got caught up in the new rule rolling out.

They should have implemented the 5/24 rule on 5/24/16 instead of 5/22/16. As much as it sucks I would have at least chuckled if they did that.

Lol! Maybe Chase loosened up and it’s now the 5/22 rule!

5/22 would be more restrictive than 5/24… 🙂

No, it wouldn’t.

Um, no. Think of it this way, if it were 5/1, no one would even care. Fewer months is a good thing.

Um, you’re right! I had my math backwards. Duh.

Any DP for hyatt card?

Doubled app’ed hyatt and IHG today at 6/24, both approved

Great, thanks!

Whew…I just got approved for Ink Plus late last week after my third attempt. 70k offer in-branch! BOOM.

If my fifth card in 24 months is the chase ink card, will that “count”. I mean, clearly Chase knows somewhere, but as far as cards on the report it still looks like 4. Anyone know? Thanks!

Most likely it will count, at least under manual review, but hard to know for certain.

It is possible that the automated system will only count accounts shown on the credit report, but we don’t know that for certain.

Well, I have definitely opened 4 cards in the last 24 months. In addition to that, I had just opened ink plus, that would have made 5. I did just get approved for the personal southwest card. So, the ink didn’t count against me. I would think had I gotten the southwest first, then the ink (since the ink counts now), it wouldn’t have worked.

Does this mean if you have 5 OPEN credit cards account that were open in last 24 months OR that you have OPENED 5 CC in last 24 months (regardless whether they are CURRENTLY open or not)?

Closing accounts does nothing to help.

This is ANY new credit card accounts showing on your credit report in the previous 24 months.

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