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First reported on Doctor of Credit, it appears that Chase has finally implemented it’s much dreaded 5/24 rule for some of the co-branded cards. This rule states that you will be denied a new credit card by Chase, if you have opened more than five cards in the past 24 months. If true, this will be a major blow to the points game as we know it! Crucial cards are being impacted, including all of the Chase Southwest Cards, which are very important for earning a Companion Pass. Data points are still being collected, but read on for details.
At the current time, the following cards appear to fall under the 5/24 rule:
- Chase Sapphire Preferred
- Chase Freedom and Freedom Unlimited
- Chase Business Ink Plus/Cash
- All Chase Marriott Cards (likely Ritz-Carlton is included as well)
- All Chase Southwest Cards – Plus, Premier, and Business
- All Chase United Cards
The following cards do not appear to be impacted yet…
- Chase IHG
- Chase Hyatt
- Chase British Airways
- Chase Disney
- Chase Fairmont
- Chase Amazon
- Chase AARP
/u/brteacher on Reddit observed that, so far, the affected co-branded cards are all ones that Chase offers as a Business and Personal option. This is an interesting catch. Either way, if you have not yet applied for the cards listed at the top, and you have fewer than 5 apps in the last 24 months, go for them first. If you are over the limit, and you have been considering one of the cards in the second list, go for them NOW! We don’t know if 5/24 will eventually apply to all Chase cards, but I would hate to be the person who waited a day too long. Good luck everyone!