All of the major credit card issuers have different rules when it comes to applying for their cards. Furthermore, these rules are constantly changing, as banks try to optimize their strategy as to what kind of card members they’re looking for.
With issuers coming up with more and more rules nowadays for being approved for their cards, I wanted to provide an updated rundown of the rules from each of the major card issuers.
In this post I’ll discuss the basics you should be aware of if you want to be approved for a card by American Express, Chase, Citi, Capital One, and Bank of America.
Keep A Good Credit Score & Use Cards Responsibly
Before I get too deep into the rules, there are a couple of things I want to say up front.
First of all, this is intended for people with excellent credit. Credit cards can be extremely rewarding, and applying for lots of credit cards can even help your credit. So make sure you do what you can to keep your credit score high, which shouldn’t be too tough when keeping to best practices.
Second of all, you should only sign up for credit cards if you can use them responsibly. This means paying off your balance in full every month, and not increasing your spending hugely just because you’re not paying cash.
Having the right credit cards can help you maximize rewards greatly, though the value of those rewards will quickly be offset if you’re paying 20%+ interest financing charges. So don’t do that.
Lastly, these rules are constantly changing, and I’m also generalizing here, so make sure you always study the terms on the application page of the card you’re considering getting.
With that out of the way, let’s get right into it.
American Express Application Rules
In my experience American Express cards are among the easiest to be approved for. If you’re new to credit cards, I always recommend starting with Amex, because they’re often the most generous when it comes to instant approvals.
In some ways they have strict rules for getting approved, while in other cases they don’t, so here are the rules to be aware of:
Once In A Lifetime Rule
The welcome bonuses on virtually all American Express cards are “once in a lifetime.” That means you can get the bonus on just about every card once, but you can’t get it again in the future. So even if you closed the card, you won’t be eligible for the bonus on that card again in the future.
There are some mixed reports as to what exactly “lifetime” means, with some saying that period resets after seven years, but that’s a case of “your mileage may vary.”
Five Credit Card Limit
American Express limits you to having five of their credit cards at any given point. This limit doesn’t include their charge cards, including the following:
- The Platinum Card® from American Express (review)
- The Business Platinum® Card from American Express (review)
- The American Express® Gold Card (review)
- The American Express® Business Gold Card (review)
- The American Express® Green Card (review)
Two Credit Cards Every 90 Days
You won’t be approved for more than two Amex credit cards in a 90 day period. This limit excludes charge cards, which are counted separately.
As far as two cards within 90 days goes, it’s generally okay to apply for two credit cards the same day — just expect that one application may be delayed a few days before it’s approved, and that’s fine.
Amex seems to be denying bonuses for certain people based on their history with Amex, beyond the above rules. If this applies to you, you may receive a pop-up during the application process that reads as follows:
Based on your history with American Express welcome offers, introductory APR offers, or the number of cards you have opened and closed, you are not eligible to receive this welcome offer.
We have not yet performed a credit check. Would you still like to proceed?
Chase Application Rules
Chase largely has the most lucrative rewards credit cards, though they’re also often the toughest to be approved for. So if you want to be approved for a Chase card, there are a few restrictions to be aware of.
The 5/24 Rule
Chase has what’s known as the 5/24 rule, where you typically won’t be approved for one of their cards if you’ve opened five or more cards in the past 24 months. This applies to all Chase cards nowadays. Do note that some business card applications won’t count towards that limit, though.
Two Cards Every 30 Days
Chase will typically approve you for at most two personal cards in a 30 day period, and at most one business card in a 30 day period. As I said above, Chase is in many ways one of the toughest issuers, so don’t necessarily expect you’ll be approved for two cards in 30 days, though you might be.
No Limit On How Many Cards You Can Have
Chase doesn’t seem to have a strict limit on how many total cards you can have from them. Rather their restriction seems to be based on how much total credit they’re willing to extend you.
Often they’ll let you switch around credit lines on cards to be able to open a new card, should they feel like you’re maxed out on the amount of credit they’ll give you.
The 24 & 48 Month Rule
Chase welcome bonuses mostly aren’t once in a lifetime, but rather are based on a 24 or 48-month cycle.
The most common rule on cards is that you’re not eligible for the welcome bonus on a card if you currently have that card, or if you’re a previous cardmember who received a bonus on the card in the past 24 months. For example, this is the rule on the Chase Freedom® Card (review) and Chase Freedom Unlimited® (review).
For some cards this limit is 48 months, though. For example, on the Chase Sapphire Preferred® Card (review) the same rules apply, except it’s based on having received a bonus on the card in the past 48 months.
Family Card Rules
For most Chase cards, eligibility for a welcome bonus is based on whether you’ve had that specific card before. However, for applications of Sapphire, Marriott, and Southwest cards, further “family” rules may apply.
For example, with the Chase Sapphire Preferred® Card and Chase Sapphire Reserve® (review) you’re not eligible for the bonus if you currently have either of the Sapphire cards, or if you’ve gotten the new cardmember bonus on either of the Sapphire cards in the past 48 months.
Citi Application Rules
Citi is somewhere between American Express and Chase when it comes to how difficult it is to be approved for their cards. I think the best way to describe Citi is that they can be quirky when it comes to approvals. So let’s take a look at the rules you should be aware of.
One Card Every Eight Days, Two Cards Every 65 Days
Citi will approve you for at most one card every eight days, and at most two cards every 65 days. This is a rolling limit.
The 24 Month Rule
Much like Chase, welcome bonuses aren’t once in a lifetime, but rather they have a required waiting period.
With Citi’s 24 month rule, you’re typically not eligible for the bonus on a particular card if you’ve closed that card or have received a new cardmember bonus on the card in the past 24 months.
Family Card Rules
- You’re not eligible for the welcome bonus on any of those cards if you’ve received a new cardmember bonus on any of them in the past 24 months
- You’re not eligible for the welcome bonus on any of those cards if you’ve closed any of them in the past 24 months
The 48 Month AAdvantage Rule
Some AAdvantage cards have a different version of the above. For example, on the CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® (review) you’re not eligible if you’ve received a new card bonus in the past 48 months. The good news is that there’s no “family” rule in that case.
Capital One Application Rules
Capital One is a fairly new issuer when it comes to having cards that are interesting to those into miles & points, given their introduction of a transferable points currency in late 2018, with the Capital One® Venture® Rewards Credit Card (review) and Capital One® Spark® Miles for Business (review).
So let’s look at what you need to know about applications with them.
One Card Every Six Months
Capital One will approve you for at most one card every six months, so pick wisely. This restriction applies to both personal and business cards.
Pull From All Three Credit Bureaus
To me this isn’t a big issue and also doesn’t necessarily impact your odds of approval, though it’s worth knowing that Capital One pulls from all three credit bureaus.
Bank Of America Application Rules
Bank of America has an ever-increasing number of credit cards that are interesting to those looking to maximize rewards, including cards like the Bank of America® Premium Rewards Visa® Credit Card (review), Alaska Airlines Visa® Credit Card (review), and Alaska Airlines Visa® Business Credit Card (review).
With the 2/3/4 rule, you can typically only be approved for at most two Bank of America cards in a rolling two month period, three cards in a rolling 12 month period, and four cards in a rolling 24 month period.
This seems to be a relatively recent addition to Bank of America cards, but anecdotally it seems that you won’t be approved for Bank of America cards (business or personal) if you’ve opened three or more new credit cards with all issuers in the past 12 months (much like with the Chase 5/24 rule, most business cards don’t seem to count towards that limit).
The exception is if you have a deposit account with Bank of America, in which case the rule seems to instead be that you can’t be approved if you’ve opened seven or more cards in that period.
Note that this doesn’t seem to be enforced 100% of the time, and there seems to be some flexibility. However, we are now frequently seeing people denied for cards with as few as three inquiries in the past 24 months.
24 Month Rule
Many Bank of America cards have a 24-month rule, where you can’t get a card if you’ve had that card in the past 24 months.
Credit Card Application Restrictions Summary
As you can see, there’s a huge variance in terms of approval rules across the major card issuers. In all cases, you’ll want to consult the terms listed on the credit card application for the card you’re considering.
Credit card issuers often update their policies as well, and while I’ll try to keep this updated, stuff often changes without us even knowing.
If you have any experiences to share with credit card approvals please do, as it’s possible I missed something, and data points are always helpful.