Chase’s 5/24 rule prevents most Chase credit card applicants from being approved if they’ve opened five or more credit cards in the last 24 months. This includes cards from any bank, not just Chase.
The 5/24 rule is an unwritten policy that’s intended to prevent people from applying for credit cards solely to get the welcome bonus and then closing the account before the annual fee.
Here are some things to know about the 5/24 rule:
- How to check your 5/24 status. You can use the Experian app to view your credit accounts and sort them by the date they were opened.
- What counts towards your 5/24 status. All personal credit cards opened with any bank in the last 24 months count, even if they’re now closed. Business cards from Discover and TD Bank also count, as well as some Capital One small-business cards.
- When you’re no longer in the 5/24 blackout period. You’re “out from under 5/24” when you’re no longer in the blackout period, and you may see people refer to this as having “5/24 slots free” again.
- What to do if you’re rejected. Calling for reconsideration usually won’t help with a 5/24 rejection.