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Chase Ink Business Credit Cards offer good benefits for small businesses, and each card also offers great sign-up bonus cash back and points worth applying for. However, it’s also important to understand the rules for the sign-up bonus and the application for approval.
In this post, I want to address the Chase 24-month bonus and Chase 5/24 rules that focus mainly on all Chase ink business credit cards.
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What is Chase’s 24-month bonus rule?
It is important to note that the Chase 24-month bonus rule is not the same as the Chase infamous 5/24 rule.
Here’s a quick rundown of the differences between the two rules:
- Chase 5/24 Rule: Chase will not approve your new application if you have 5 or more new credit card accounts with Chase or any other banks in the past 24 months.
- Chase 24-Month Bonus Rule: If you have a Chase credit card and have received a new card member bonus for that card in the past 24 months, you cannot receive the sign-up bonus again.
Does Chase’s 24-month bonus rule apply to Chase ink business credit cards?
The Chase 24-month bonus rule restricts new credit card bonuses to one per 24 months (2 years). The restriction term typically can be found on the card’s offer details page. However, when it comes to Chase ink business credit cards, the term is nowhere to be found on the card’s offer page, but that does not mean that the 24-month bonus rule does not apply to the ink credit cards.
At the time of this writing, to see the 24-month bonus rule for a particular Chase ink business credit card:
- You have to go to the application page like you were to apply for the card.
- Scroll down to the bottom of the page until you see the Certifications section.
- You should be able to see the 24-month bonus restriction language in #10.
Currently, there are two versions of how the rule is worded on the Chase card’s application page, but they mean the same:
This bonus offer is available to you if you do not have this card and have not received a new Cardmember bonus for this card in the past 24 months.
I understand that any new cardmember bonus offers for this product are not available to either current or previous cardmembers of this product who received a new cardmember bonus for this product in the last 24 months.
Therefore, all Chase Ink Business Credit Cards contain the Chase 24-month bonus restriction language.
Does the Chase bonus 24-month rule start from the card’s approval date or the bonus posted date?
The Chase bonus 24-month rule starts from when you last received the card’s sign-up bonus, not the time when you opened or were approved for the card.
For example:
- You were approved for the card in August 2020.
- You received the card’s sign-up bonus points, and the points were posted on your October 2020 statement.
- You can receive the sign-up bonus again starting October 2022 – 24 months or 2 years from you last received the bonus.
- Technically, you become eligible starting October 2022, but to be safe, I recommend applying for the card starting November 2022 instead.
- Remember also that you cannot be the current card member to receive the sign-up bonus of a particular card again.
Does Chase 5/24 rule apply to Chase business credit cards?
Yes. Chase will not approve your new application for their business credit cards if you have 5 or more opened/closed credit cards with any banks in the past 24 months. It does not matter if you have a nearly perfect credit score, great payment history, or a pretty good income.
It’s worth mentioning that Chase retrieves the number of credit cards from your personal credit report, not your business credit report. When you apply for a business credit card with a business tax ID, banks also ask for your personal social security number, and that is how your personal credit report is pulled.
Does Chase ink business card count towards 5/24?
As mentioned above, Chase can see the number of credit cards you have opened or closed in the past 24 months based on your personal credit report, and it’s not based on your business credit report.
The vast major bank does not report business credit cards to the personal credit report, except Capital One bank. This means that all your non-Capital One business credit cards, including Chase ink business credit cards, will not be reported to your personal credit report. Therefore, each Chase ink business card is NOT counted towards the Chase 5/24 Rule.
It can be confusing regarding the Chase 5/24 rule and Chase business credit cards. Here are the two things to keep in mind:
- Chase will not approve you for a Chase ink business credit card if you have 5 or more opened/closed credit cards with any banks in the past 24 months on your personal credit report.
- Chase does not count your Chase-issued ink business credit card towards the 5/24 rule because the Chase-issued business card does not show on your personal credit report.
