Chase 5/24 Rule: 7 Exceptions To Bypass The Rule (2020)

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Chase 5/24 Rule: 7 Exceptions To Bypass The Rule (2020)

Chase is one of the credit card banks that offer great sign-up bonus on their credit cards. Unfortunately, Chase has tightened their application rules process that has a significant impact on the miles and points community with credit card sign-up strategies. Chase has introduced a very strict policy that is known to the points community as "Chase 5/24 Rule." In this article, to help explaining this Chase 5/24 rule, we'll go through the details of this 5/24 rule and methods to bypass it.
How to Bypass Chase 5/24 Rule

What is Chase 5/24 Rule? 

First of all, the "Chase 5/24 Rule" term is referred to by the miles and points community. Chase bankers and Chase customer representatives mostly are not familiar with this terminology.

Chase 5/24 Rule states that if you have 5 or more new credit card accounts with Chase or any other banks in the past 24 months, Chase will not approve your new application. Chase implemented this policy on all of their personal and business credit cards. It does not matter if you have a nearly perfect credit score, an outstanding history payment or make good money. There are, however, some methods to bypass this rule which we’ll talk about those methods later on.

Once you submit your new Chase credit card's application, your credit report will be pulled. If Chase sees that you have 5 or more open/closed credit cards accounts with Chase or any other banks in the past 24 months on your credit report, your new Chase credit card's application will be declined. If you are an authorized user on a credit card, chances are that credit card account is also reported to your credit report and therefore that account is also counted against the 5 cards rule. However, any new credit card accounts that have not been added to your credit report yet will not be counted towards the 5 cards rule. Store credit cards are also excluded. Business credit cards are also excluded, with the exception of Capital One business credit cards. Business credit cards have their own credit report, but Capital One does report their Capital One business credit card to the consumer's personal credit report as well.
The best way to count how many credit cards you have opened or closed in the past 24 months is to use free credit report services out there such as Experian, Credit Karma, Credit Sesame, etc. to pull your own credit report and start counting. It is worth noting that this type of credit report pulling does not impact your credit as it is considered a soft pull as opposed to a hard pull like when you were to apply for a new loan or a new credit card.

Exceptions to Bypass Chase 5/24 Rule 

In Branch Pre-Approval Offer 

Stop by a Chase branch and ask the banker to search for pre-approval offers for you. If there's any pre-approval credit card offer, you can tell the banker to make an application for you and that will bypass the Chase 5/24 rule.

In Branch Paper Application With A Business Relationship Manager 

If you really want to apply for a Chase business credit card and you have over 5 business cards on your business credit report in the past 24 months, you can ask your Chase Business Relationship Manager to make a paper application for you to bypass the Chase 5/24 rule.

Mail Invitation With RSVP Code 

Chase does send out invitation letters with an RSVP code to consumers to invite them to apply for Chase branded credit cards. If you receive one of those invitation offers, the RSVP code you use to apply for a Chase credit card will make your application bypass the Chase 5/24 rule.

Online Targeted Just For You 

  • Log into your Chase account. 
  • On the left hand side where the 3 lines menu icon is, click on it. 
  • Click on "Just for you" under the Explore Products section. That will take you to another page that has your targeted offers.  

If you see a credit card offer that has a green check mark with the word SELECTED FOR YOU, then you can apply for that credit card and your application will not be subjected to the Chase 5/24 rule.

How to Bypass Chase 5/24 Rule


Online Targeted Credit Card Offers

  • Log into your Chase account. 
  • On the left hand side where the 3 lines menu ☰ icon is, click on it. 
  • Click on "Credit cards" under the Explore Products section. 
  • That will take you to another page that has Chase credit card offers. 
If you see words YOU'RE ALREADY APPROVED or YOU'RE PREQUALIFIED next to a credit card offer, then you can apply for that credit card and your application will not be subjected to the Chase 5/24 rule.

How to Bypass Chase 5/24 Rule


Online Targeted With United App 

  • Launch the United app. 
  • On the homepage, click on the United credit card offer ad.
  • Check whether the offer has YOU'RE PREQUALIFIED word on the top. If it does, your application will not be subjected to the Chase 5/24 rule. 
How to Bypass Chase 5/24 Rule

Fixed APR Term 

The miles and points community have provided data points that if the credit card offer you're pre-qualified for has a fixed APR stated in the term, then your application will bypass the Chase 5/24 rule. If your offer has an APR range term, then that will not bypass the Chase 5/24 rule.
Fixed APR Term that will bypass Chase 5/24 rule: 0% fixed Intro APR for the first 12 months that your Account is open. After that, 14.74%. This APR will vary with the market based on the Prime Rate.
APR Range Term that will not bypass Chase 5/24 rule: 0% fixed Intro APR for the first 12 months that your Account is open. After that, 14.74% to 20.74%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.”
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PL

Posted by: PL

Hello there! People call me PL and I am a points blogger. Obsessed with using points and miles to elevate travel experiences to explore the world. Enjoy finer things in life and good food. I have a day job, this points blog is mainly my hobby and my contribution back to the points community. If you enjoy reading this post, please help me share it! If you enjoy what you read here, please make sure you subscribe or follow this blog on social media so that you will be notified when there's a new blog's post. I thank you for reading this blog. Your support means a lot to me and it is what makes this blog's work worthwhile. If I can be of any help, you can contact me: thepointslife at gmail dot com

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