Last year Chase expanded what’s commonly referred to as the “5/24 rule.” I’ve received quite a few requests from readers asking for an updated list of which cards aren’t subjected to this rule, so that’s what this post is about.
What is Chase’s 5/24 policy?
With Chase’s 5/24 policy, you typically won’t be approved for a card if you’ve opened more than five new accounts in the past 24 months. This is more of a general guideline than a strict rule, though. Here’s what you should know about 5/24:
- A vast majority of new credit card accounts will count towards that limit, meaning that opening more than five cards in 24 months will make you ineligible for certain Chase cards
- One exception is most non-Chase business cards, like The Business Platinum® Card from American Express, which don’t count towards this limit
- There are people who report not having any issues being approved for a card even though they surpassed the 5/24 rule, so it’s not consistently enforced
- The 5/24 rule doesn’t apply to all Chase cards, meaning that there are some Chase cards you can still easily be approved for if you’ve opened more than five card accounts in the past 24 months
- This is mostly anecdotal, since Chase doesn’t officially publish this restriction for most cards
How do Chase credit card approvals work in general?
There’s no set limit to how many Chase cards you can have. For example, I have six, though I know people who have more than that. With Chase the limiting factor is typically the total amount of credit they’re willing to extend you. This means that if you apply for a new card and are maxed out in terms of the credit Chase is willing to issue you, you may be asked to switch credit lines around.
As far as the number of cards you can apply for in a certain period goes, there doesn’t seem to be a consistently applied limit. Some report not being able to apply for more than two cards in a 30 day period, while others suggest you can be approved for at most one personal and one business card in a 90 day period.
Personally I’d wait at least a month between two Chase card applications, but that’s just me.
The 4 personal Chase travel cards not subjected to the 5/24 rule
With that in mind, here are the four personal Chase travel credit cards that you can anecdotally be approved for even if you’ve opened more than five accounts in the past 24 months:
Sign-up bonus: 40,000 World of Hyatt bonus points after spending $2,000 within the first three months, plus 5,000 bonus points after adding an authorized user and having them make a purchase within that same time period
Annual fee: $75
Redeem your points at the Park Hyatt Maldives
On top of that, the card offers a complimentary annual free night certificate valid at any Category 1-4 property, which for most people should more than offset the annual fee.
The card also offers World of Hyatt Discoverist status, which gets you 2PM late check-out, preferred rooms, bonus points, and more. Lastly, if you spend $50,000 on the card in a calendar year you’ll receive Explorist status, which gets you 4PM check-out, upgrades to the best available non-suites, and four club lounge passes per year.
Use your club lounge passes at the Grand Hyatt Hong Kong
Sign-up bonus: Earn 60,000 bonus points after you spend $1,000 on purchases within three months
Annual fee: $0 introductory annual fee the first year, then $49
The single biggest benefit of this card is that it offers an annual free night certificate at any IHG property in the world on your account anniversary. That’s incredible, given that this is also the hotel credit card that has among the lowest annual fees. There are no category restrictions on the free nights.
Furthermore, the card offers IHG Rewards Club Platinum status for as long as you have the card, plus a 10% refund when you redeem points, for a total of up to 100,000 refunded points per year.
Redeem your annual free night certificate at the InterContinental Hong Kong
Sign-up bonus: Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months from account opening. Earn an additional 25,000 bonus Avios after you spend $10,000 total on purchases within your first year of account opening for a total of 75,000 bonus Avios.
Annual fee: $95
Avios are incredibly useful for shorthaul travel, given their distance based award chart. Avios can efficiently be redeemed for travel on Alaska and American on domestic flights.
On top of that, the card offers a Travel Together ticket when you spend $30,000 on the card per year. With this voucher you can have a companion fly with you on a British Airways award ticket, and they just have to pay the carrier imposed surcharges and fees, and not the actual Avios (though those fees can be high).
Use your Travel Together voucher for British Airways first class
Sign-up bonus: Earn 2 complimentary nights at any participating Tier 1-4 Ritz-Carlton hotel after spending $4,000 on purchases within three months, plus 10,000 bonus points after adding an authorized user and having them make a purchase within that same time period
Annual fee: $450
This card has a high annual fee though offers a $300 annual travel credit, Ritz-Carlton Gold status (which is also valuable at Marriott properties), a $100 domestic companion airfare benefit, three Ritz-Carlton club upgrades per year, etc.
There are so many fantastic properties at which you can redeem those Ritz-Carlton complimentary nights. However, do note that several months back the sign-up bonus on this card offered three complimentary nights, while now it only offers two complimentary nights upon completing minimum spend.
Redeem your two nights for a weekend getaway to the Ritz-Carlton Rancho Mirage
The above are the four Chase personal travel cards that you’re potentially eligible for if you’ve opened more than five new accounts in the past 24 months.
These are all fantastic cards. Personally I think almost everyone would benefit from having the IHG® Rewards Club Select Credit Card and The Hyatt Credit Card, given that they offer an annual free night certificate valid at many great properties, which more than justifies the annual fee, in my opinion.