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The Chase 5/24 rule is one of the most restrictive rules when it comes to travel credit cards. Chase application rules makes it so you prioritize their cards, but as the game changes, should you really care about the Chase 5/24 rule in 2020?
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37 comments
I 100% agree
I have CSR, and thinking about ways to get more bang for my buck, I was at 5/24, and went into a branch to discuss CIP, and I spoke to him regarding the 5/24 rule. He is a business banker, and he had no idea what the 5/24 rule is. We went around and around about an application for the CIP and 5/24 which I did not complete (I just deposited a little more than $10,000 in their branch two weeks earlier, and heard if you went to a branch you can circumvent the 5/24 rule). Anyways, I have determined that the Amex Gold card fit my needs better, and applied two days later, and got an instant approval. Heck with 5/24. While I still want the CIP, I will wait, and investigate Amex business cards more.
I wish I could get Chase cards. But since I fucked up with them in the past, they wont trust me again. Lol. But its all good. 🙂
#FlexGameStrong in this vid <3
I’m giving up for now. My spouse is getting the Hyatt card and I’m getting the Charles Schwab Amex Platinum.
I'm at 4/24 and am kind of looking forward to using up that last slot later this year and being done with it. Will probably keep the Ink Bus. Preferred as my only annual fee card in the long run, along with the no-fee ones and just use them occasionally.
I dont care about the chase rule, i wont be getting any chase card for awhile
I’m going to use up the $60 door dash credit, then come this summer when my CSR is due for renewal, I’m going to downgrade it to the Freedom. Very happy to have gotten their business cards while under 5/24.
But seriously, Hyatt is the ONLY reason I’m still in the Chase system!
Chase has an easy portal, used it a few times, this video was really beneficial to validate my exploration outside of Chase. 4/24 tho, Hyatt, Biz Cards. choices choices!! Keep coming up with the fantastic content, the subscribers will grow!
Could you do a video on a step by step guide for people trying to up their credit card game? I’m really early into it and wanna know what cards I should get next
I'm only 9/24 right now, and I'm already finding it to be ridiculously hard to get approved for credit card from the major issuers. Everyone in general is becoming sensitive to the number of inquiries or accounts that you applied in the last year/2 years. This month alone, tried to get the Jetblue Plus card from Barclays (denied to 6/24), Amex is giving me trouble with their bonus popups, so I can't really apply for any of their cards, US Bank and BofA is inquiry sensitive so I doubt I get approved with the number of inquiries that I have. Unironically, even though I'm 9/24 Chase has been sending me preapprovals and got the Ink Cash. I got another preapproval from Chase for the Ink Unlimited, which I do plan to get.
Overall, I find it hard to get cards at this point due to banks in general becoming more sensitive to "churning" or "gaming" activity. So cooling off on applications isn't too bad on trying reducing your risk to these banks.
I’m not planning to have more than 5 cards anyway so I’ve never cared. None of the chase cards have blown me out if the water either.
I believe it is not that big a deal. The only card I have w/ Chase that's under the 5/24 rule is the Sapphire Reserve, and I will cancel that card soon. My other cards are Business Ink cards (two of them, will get the third soon) and the A/E Gold.
what is chase e-cash at 2:08 edit: nvm, it is Chase INK cash.. lol
The only reason I want a Chase card is because I would rather have all my banking in one system. I already have checking & savings with them. I'm in Amex system now. So I'm not really sweating Chase anymore.
So is it better Cap. On Venture or CSP for traveling? I'm at 4/24 right now
Several other banks seem to have adopted a very similar rule to 5/24 recently anyway. I'm currently at 5/24 with a near 800 score and recently got denied for both an AMEX and USbank card for having too many recent cards.
Yeah I have so many cards I want that it’s hard to be under 5/24. The chase ink cash is a fantastic card tho!
Tattoo very distrative when you are talking must say. Just saying.
Does the business Ink cards go against the 5/24 rule if you use your SSN to open the account?
The only people who have obsessed over 5/24 is people on YouTube. In the real world no one seems to care. And everyone seems to be just fine. Now that I no longer care about cards as much as I used to I realized just how much time we waste on things don’t matter.
Now I’m still thinking to get ink cash or preferred to get at my house 5/24 question. If i gets the preferred can i downgraded it to the cash?
Also you are right no one should be loyal to any bank. So this leads to my next question. With the cash eco system of the trifecta and positive value. I want the Amex plat for the points and i know i can use the benefit. How would you use the CSR and Amex Plat together. Maybe you can make a video so I’ll understand more and use you match method to see if there’s value for year 2
I hate Chase
They Suck!
First time to this channel. What is the 5 24 rule you mention like 20 times?
Thumbs down. WTH is 5/24?
Amex over here making me not care anymore about Chase's stupid 5/24 rule with thier non stop refreshes. I can live with one shitty visa/ mc LOL. This was a good video. I think eventually its going to become a point that majority won't care anymore about the 5/24. They should lower it to 5/12 at least.
I'm 12/24 and got the Sapphire Preferred bonus a second time after four years on a targeted offer in 2019. They apparently are missing some business and willing to target customers. I agree until I start running out of options at Barclays, Amex and Citi I am giving up too much to try and get a few cards from Chase which have about the same value.
What are you looking at
I stopped caring about Chase 5/24 since my spending is not high enough to meet the spending limit. I'll stick to cashback cards.
Honestly I care about 5/24 only because I want all the hotel cards from chase. They're all great keeper cards.
Most stupid rule ever idc about it and the bank is overrated
Love your channel, my man. Way to go against what most say and not benefit from this. I know you didn't promote any cards here. This was just an organic, real talk video. Love it. I had a question. Have you or anyone you knew ever been 5/24 or greater and gone into a chase branch and successfully was approved for a chase card due to personal interaction rather than an algorithm?
Hey Waller. Great content and thanks for explaining! I have two questions: 1. I opened an Amex Gold card and an Amex Platinum card recently, but when I look at my Credit Karma, there is only one account from Amex, I wonder if Amex charge cards would counted as one card in 5/24, or it’s just showing up in Credit Karma like that, and Chase would still see the two cards that I opened? 2. Do cards that are closed within the 2 years count? Thank you, Waller!
Um ,I really wish you would explain WHAT the 5/24 rule is first. 10 minutes of what is he talking about?
Just get a chase checking debit card
I believe Capital One is doing the same. you throwing it up out there!!!!
Lol im here because i got denied for a CSP because of 5/24 i got so upset and wanted to start racking up points. I have history with Chase and my final thing i wanted from them was to get a Sapphire card. But because i got denied i feel like switching to amex now