Chase Sapphire Reserve
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Doctor of Credit is reporting that there’s a new modification to Chase’s famous 5/24 rule.

Chase Sapphire Reserve


A reminder on the Chase 5/24 Rule

The rule states that if you have opened 5 new personal credit cards – from any issuer – in the last 24 months (plus any Capital One or Discover business cards, since those get reported to your personal credit profile) you will not be approved for a new Chase card.

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Business cards (other than Capital One or Discover) you’ve applied for shouldn’t affect 5/24, since they don’t report to your personal credit file.

But it DOES apply to applying for a new Chase business card if you are already over 5/24.


The Tightening Credit Environment

All banks have been tightening credit severely during COVID-19 (and with good reasons, given the double digit unemployment) to guard against defaults.

Chase won’t even let you apply for a Chase Business credit card without already being a Chase customer (bank account or other Chase credit cards) these days and approvals from all issuers are way down, meaning even those with 800+ credit scores are seeing denials.

On top of that, issuers have been recently lowering people’s credit lines without warning – sometimes to less than half what it was. Pure risk management.


Does 5/24 Now Include Credit Line Increases?

It seems so!

The DoC reader said that he applied for a Credit Line Increase (so, to be clear, not a new card).

They were denied and the reason given was “Too many credit cards opened in the last two years associated with you”

An interesting question is if a Chase CLI would count as a 5/24 slot now – and I don’t think we have that data yet (if you were 4/24 and had a CLI and then got denied for a Chase card, that would be the data point we need here).

It’s also not clear if this is a new hard and fast rule or not.


If you have a data point, please share!

Let me know below in the comments, on Twitter, or in the private MilesTalk Facebook group.

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  1. I was just approved today for the WOH chase card, which puts me at 4/24 (until August).
    Chase has been raising my CLs this years, not by a lot, bit about 10% for each card.
    AmEx has also raised all CLs, just this week.


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