How To Check Your 5/24 Status

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Chase issues some of the best rewards credit cards out there, though one of the major restrictions associated with being approved for many of their cards is the “5/24 rule.”

What is the 5/24 rule?

With Chase’s 5/24 policy, you typically won’t be approved for a card if you’ve opened five or more 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:

So if you want to be approved for cards like the Chase Sapphire Preferred® Card Chase Sapphire Reserve® Card, or Ink Business Preferred℠ Credit Card, you’ll want to be aware of this restriction.

How can you figure out your 5/24 “status?”

One question I’m often asked if how you can see your status as it relates to 5/24. Most people probably remember how many cards they’ve opened in the past 24 months, but for those who don’t, there’s an easy way to look it up. It’s quick and takes just a few minutes.

My preferred way of looking it up is through Credit Karma. You can sign-up for Credit Karma for free, which is an easy process. You’ll just need to enter some personal information and then verify some security questions, all of which should take just a couple of minutes.

Once you’re logged into your account, you should see your credit scores displayed. At the bottom left of the page you’ll see a section that reads “Credit Health” — click that.

On the next page you’ll see all kinds of interesting data on your credit score (which really puts into perspective what matters and what doesn’t). Click on the “Credit age” section at the bottom left.

The next page will list all of the credit card accounts you’ve opened in chronological order. So to see the ones you opened the most recently, scroll all the way down, and count how many there have been in the past two years. In my case, that’s a total of seven cards.

So it looks like I’m “7/24.” The only thing this doesn’t include is cards that have been opened and closed within the past 24 months (as it only includes cards you opened and still have open). I assume most people have a limited number of cards they’ve both opened and closed in that timeframe, though to access that, click on the “Accounts” section next to “Credit Health,” and at the bottom it will list the card accounts you’ve closed, along with their opening dates.

In terms of other things to be aware of:

  • Only credit cards count towards this limit, and not car loans, mortgages, etc.
  • It can sometimes take a while for recent applications to show on your report, so if you’ve applied for a card in the past few weeks, it may not be on there yet

Bottom line

The process of checking your 5/24 status with Credit Karma is free and easy. In my case I have most of the Chase cards I want, including the  Chase Sapphire Reserve® Card. My only regret is not having the Ink Business Preferred℠ Credit Card, which has so many fantastic benefits and a great sign-up bonus. I guess I need to decide whether I want to lay low for nine months and wait for my report to drop below 5/24, or not.

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Comments

  1. I’ll be at 4/24 in February, and am also interested in the Ink Business Preferred. If I select a business category of “Individuals” on the application will that be problematic?

  2. This is not true. The way that you have put forth only shows the current cards that are OPENED. If you closed an account, it will not show up here. The better way is to look at total accounts which give both the open and closed ones. Very misleading post.

  3. Lucky,
    I could be wrong, but I think that only takes the age of the open accounts. So if you closed any cards during that period, they could still count part of 5/24.

  4. As the others above me pointed out, this is not an accurate way to check your 5/24 status, as accounts that you’ve closed are not shown, but still count against your 5 if they were opened in the last 24 months.

    Lucky, you should probably correct this post.

  5. My experience with Chase was awful. I looked at my credit history and I was 3/24 so I applied for a card and was denied. I called Chase and they said I was 6/24, I told them that was not possible. Finally the Chase rep, on the reconsideration line, read back what they viewed as 6/24…3 were authorized users on my wife’s accounts. Again, more ‘discussion’ about it and they finally agreed that those 3 should not have counted against me.

    Even if you look it up and see you’re in the clear…YMMV

  6. @Robert: Your experience mirrors my own. Chase definitely counts cards on which you are only an AU towards 5/24. You will have to call and talk to them if these put you above 5, and be prepared to say you hardly use the cards on which you are an AU. (In one case the agent said those cards count because they’re cards you use, which is probably NOT the reason for the 5/24 policy, but the agent backed down when I said I don’t use those cards much.)

  7. As others noted, completely inaccurate information. Lucky, I’m surprised you’re willing to deceive your readers for a few extra bucks.

  8. Thanks for the great PSA!

    Tried it myself and I’m at 5/24, with 1 credit card that will be 2 years in 3 months.

  9. Jay, you need to consider the possibility that Lucky just made a mistake and didn’t understand that closed accounts don’t show up.

    Unfortunately the anonymous nature of the Internet hasn’t been kind to civil conversation. I don’t think if any of us was having a face to face with Ben and he said you that you could check your 5/24 status online we’d think it was appropriate to accuse him of deceiving us. Instead we’d politely point out that he’s mistaken and tell him why.

    There is nothing wrong with pointing out when someone is incorrect, or even when you think they are behaving poorly, but let’s treat each other with respect when we do so.

  10. Thanks Steve for saying what I wanted to say. I use the Experian app. It shows both closed and open accounts and can be sorted by newest to oldest.

  11. @lucky
    since people are on you about ‘closed’ accounts, you can click on “view all accounts” which takes you to all your accounts. Scroll down and there’s a section that shows ‘closed accounts’

  12. @Steve, There is no disrespect here. In fact I was be inclined to give him the benefit of the doubt until I saw his Credit Karma link is an affiliate link. I doubt Experian is paying him a referral fee hence why he has no incentive to list them as the most accurate way of checking 5/24.
    Secondly, if he truly cared about being truthful, he would go back and update this post after being corrected by numerous readers, which it appears he won’t be doing and thus proving that he cares more about collecting referrals to pay for his Emirates F reviews than educating readers with truthful and accurate information.

  13. Is tere a way to identify which ones I’m AUs on in Credit Karma? Of course I can do it by hand, but that’s not easy.

    Also, this seems to include BofA Alaska business cards, which I thought didn’t count

  14. @Jay–or, you know, you might consider that he’s currently in the midst of a pretty extensive trip and might not have even seen the comments in the past couple of hours. You don’t actually think that he sits there and lives posts these do you? I imagine a lot of these info type posts were written and programmed to go live while he’s gathering more information for reviews.

  15. I’d also suggest checking out Chase’s own mycreditjourney to look up cards opened in the past two years. My guess is that’s closest to the numbers Chase is looking at.

  16. I’d use mycreditjourney myself, except that it’s an incredibly stupid name and in general, stupidity should not be rewarded, especially when it comes from a multi-billion dollar bank.

    And thanks, Steve, for pointing out what most of us feel. Sometimes a mistake is just a mistake.

  17. SNIC: I’m sure your pantry is only full of foods with smart names, and I applaud you for taking this stance.

  18. Looks like the Expirian app is a better way to access this info. Click on revolving accounts. Sort by date, boom!

  19. Yeah this post is a bit misleading. The best way is just to count up to when you have 4 cards in your most recent accounts. Assuming you don’t close anything within a year, guaranteed there are no closed cards that are showing up.

  20. I wasn’t aware that didn’t include closed accounts. I’m updating the post now. Honest mistake on my part, I apologize (and for what it’s worth, I’ve been asleep for the past few hours).

  21. 5/24 is like your virginity. Once you lost it you are forever tainted.

    Don’t pretend like you are also innocent again.

  22. Note also that Credit Karma does not provide actual FICO credit scores. They provide Vantage 3, which is a simulation of FICO Score 8. Credit Karma’s scores can easily be off from 35-100 points (right now they are 100 points low on my Equifax score, for example).

    Credit Karma is a good tool for learning basics of credit, but it’s pretty limited beyond that.

  23. Jay, I can only suggest that when you think someone has done something you feel is wrong give them a chance to respond before accusing them of underhanded conduct. I think if the shoe was on the other foot you’d like it that way.

    I’ve been a reader of this blog just about since day one and I’ve seen a marked change in the tone of the comments. People are very combative now and I’m not understanding why. I read your justification and I’m not convinced that the moment you see a mistake you chalk it up to bad faith. Judgement as to someone’s character should be based on a lot more than just how they handle one situation, let alone whether they address it in real time.

    People can disagree as to whether as to how this was handled but at least give Ben the time him to decide what he is going to do and to do it before damning him for his actions.

    I’m an old guy. I’ve was on the Internet before the name existed (it was Arpanet then). There were no more than probably a hundred of us all told and the assumption until proven otherwise was that everyone else was a pretty decent guy. It seems the assumption now is that he’s an unsavory fellow who deserved to be flamed. All I’m suggesting is that as far as this website and this group of people let’s at least assume that everyone else is more or less like we are. Human. Flawed but pretty much mean well.

    I’ll assume that’s the case with you. I’m sure your a decent guy. If you’ve been reading this site for a while take the whole of that to decide if Ben is too.

  24. So far this article or any comment has not correct told anyone how to check their 5/24 status. You do this by “checking your credit report”. It doesn’t matter what reputable source that you use. However, I’m sure that there are many in this points/miles game that don’t even check their reports regularly so how about you check your credit report the best way at the AnnualCreditReport website? (Assuming url links will be removed).

  25. Question: I’m already over 5/24. But if I want to take my chances and apply for a new Chase card but get denied, will the denial be treated as new account opening for 5/24 purposes? Thanks!

  26. I was turned down for a Chase card for too many credt cards opened in past 24 months. I called their recon line and asked them when I would be under 5/24. They told me sometime in December. So I waited until Jan and re-applied. I was approved.

  27. Jay. Just think if your clients accused you of underhanded conduct. How would you or your employer feel? People make honest mistakes, unless of course you’re perfect.

  28. @ Rob — Correct, closed accounts can count. What matters is whether you’ve opened the account within that period, and it doesn’t matter if you closed it as well or no.

  29. I am current on 5/24 and will be 4/24 after Mar / April (card was opened on Mar 14, 2016). If I want to apply CSR / CSP, in my case should I submit new application on or after Mar 14? Mar 15? or I have to wait until April? Thanks.

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