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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GC Ninja
GC Ninja

DP: Chase Disney Platinum is subject to 5/24. Received denial letter 1/17/19, called reconsideration. Specifically told denial was because of number of new accounts in the past 24 months (I’m over 5/24).

Superman
Superman

+1

C J
C J

I am WAY over 5/24. Approved for Chase Disney Visa (no AF) using a referral link. $200 reward for $500 spend.

Chris
Chris

Any data points if 5/24 on a rolling basis to the day? I have 5 new accounts in the past 24 months with the oldest being the fidelity axex opened on 8/6/14. If I am at 5/24, does that put me over? Maybe I should wait until Sept to try for Chase Reserve

Jayesh
Jayesh

Store credit cards are not counted towards 5/24 rule.

robertw
robertw

Stay away from the Ritz product. It is a dog for sure. Beware of any free nights with Ritz Carlton. First they eliminate cat 5s which are their best properties. See what happens when you try to book the free nights at the participating hotels. I have plenty of experience with RItz Carlton in the past. They give bait and switch a bad name. I used Ritz as part of of a special program with Merrill Lynch and with Chase earlier. Merrill had so many complaints they pulled them out completely. So this is the sort of thing you should expect when you call them to redeem. How does Cleveland Ohio sound in the winter? Plenty of space there. What about Atlanta Buckhead. we have wed night In feb for one night, for the promotion. When in the next day free? How does January 2 for one night sound? Would you like to spend the weekend in Cleveland in January? Let me book that for you. Oops sorry we only have 2 nights available and you want 3. Can I book you that two nights? Expect to check on Hawaii for every single night across an entire year. Dont be surprised to find not one single room night across the 365. That is why any program like this sucks. In fact to me based on my past history with them it really appears to me as a misrepresentation of the reality of the benefit.

DP

had 3 credit cards before Apr 2016
applied Chase unlimited 13 K limit and Chase sapphire Preferred 15K Limit and got approved with Credit Score of 740
on June 13 , 2016 attempted to try on more no chase card – Chase IHG got pending status and after 3 weeks on sorting an address issue got approved for 6K of IHG

so looks like not really 5/24 and now I have total 6 and wait for 3 months to apply another card Chase Marriott Hotel card

stay tuned

Jonathan
Jonathan

Hey sir, I am using this page as a reference. Just so I know, are you keeping this page up to date with the latest rules, or are you just planning to do new blog entries as 5/24 changes?

Chuck

This is the most up-to-date and will hopefully be kept up to date https://www.doctorofcredit.com/chase-524-rule-explained-detail-need-know/

Name Last
Name Last

I got csp, freedom and slate with 21/5.

jp
jp

Was targeted for Hyatt and applied on 7/8. Got the “we’ll get back to you” notification.
Called to check on status today (7/22), she said Pending, but “let me review and process it”, came back to say the application was denied because of too many applications in last two years (the term “too aggressive” was used). The lady was polite but firm, saying that in this particular situation there was nothing she could do. She also said targeted marketing offers have nothing to do with the cc approval process. Disappointed…..

skimoore55
skimoore55

Just past 5/24 (applied and received 5 cards in last year) and applied for both Marriott business and Southwest Premier on same day. I knew both were a long shot but thought if I got anything it would be Marriott biz. Lo and behold I find out today I was denied for Marriott but approved for Southwest! I’m actually happier as I will get much better use out of SW points vs Marriott! I don’t think there are many data points like this so wanted to put it out there.