Published on January 13th, 2016 | by William Charles33
Do The Chase 5/24 Rules Apply To Business Credit Cards?
So is the 5/24 rule in effect with Chase business cards? I have the no AF INK card but I wanted to upgrade to the INK Plus and downgrade my CSP
Before we get started, it’s important to understand what the 5/24 rule is. This post talks about it in depth, but I’ll give a brief outline below.
If you apply for a Chase branded card (e.g Chase Sapphire Preferred) and you’ve applied for more than five credit cards from any credit card issuer within the past 24 months then you’ll be automatically denied (and not possible to get approval on reconsideration). Co-branded credit cards (e.g Chase Hyatt) don’t fall into this rule and the number of credit card applications is based on the data Chase sees from the credit report they pull (so if they pull Experian and you have 6 inquiries there you’ll be denied, but if you had 3 on TransUnion and they pulled that you’d be approved).
Anthony’s question is basically does this rule apply to business cards, or only personal cards. The short answer is: no. This 5/24 rule does not apply to Chase business cards (including Chase branded cards like Chase Ink Plus & Chase Ink Cash). Below are some data points (feel free to include yours in the comments below)
- Approved For The Chase Ink Plus and More by Money Metagame
- Flyertalk: 1, 2, 3
- Chuck (author on this site) recently was approved
Another thing to keep in mind is that if you’re not instantly approved it’s better to just wait for it to go through the normal process rather than calling in, that’s because some customer service representatives are a bit trigger happy and will deny you based on 5/24 even though it’s not supposed to apply.