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There are several articles that discuss the unfortunate (seemingly true) rumor of Chase automatically denying any credit card applications for applicants who have opened 5 or more cards in the last 24 months.

This is disappointing, given the number of co-branded cards that Chase offers, including several airlines that I frequent. Based on the above articles and others, there seems to be a truth to the concept, however inexact the science is. Is there any confirmation of this from Chase? Especially given that most credit card companies report to and pull from different bureaus; which bureau(s) does Chase pull from and does the 5 credit card limit pertain only to that bureau?

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    I may be wrong, but I highly doubt that strangers on the internet are going to be keenly aware of Chase's internal policies and procedures.
    – D Stanley
    Commented Oct 25, 2017 at 18:17
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    I'm voting to close this question as off-topic because this is specific policy of Bank and is not available in generic public domain
    – Dheer
    Commented Oct 26, 2017 at 2:54
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    Opening five cards in two measly years is a lot. Even if the rule does exist, it seems very reasonable.
    – RonJohn
    Commented Oct 26, 2017 at 2:58
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    I think that this question should stay open. The question is not asking for Chase's internal policies and procedures, but simply asking if the rule is true and if there is any evidence that it is true, which is answerable - no inside knowledge or opinion needed.
    – Ben Miller
    Commented Oct 26, 2017 at 3:39
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    @xiaomy by my standard. And probably lots of others, too. (Remember that I'm only expressing an opinion, not asserting metaphysical truth.)
    – RonJohn
    Commented Oct 27, 2017 at 0:03

3 Answers 3

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On the MyFICO forums, a discussion board for credit score junkies and credit card collectors, it is taken as a given that the Chase 5/24 rule is fact. On this post from May of 2016, you can even see a scan of an application denial, with the reason "Too many credit cards opened in the last 2 years." Some posts on the site suggest that you might be able to override this rule by applying in person at a Chase branch or by responding to a pre-approved offer.

On this forum post from March 2016, it is shown that Chase could pull from any and all credit bureaus. It doesn't seem predictable which one (or two or three) they might pull from.

Having said all of that, I would humbly suggest that you might not need that many credit cards. I only have two credit cards (one Visa and one store card), and I am quite happy with my life.

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  • We have more (four each for DW and I), but only one gets the main usage. Six of them just sit in a basket.
    – RonJohn
    Commented Oct 26, 2017 at 3:48
  • @Ben Miller, thank you for your answer! In terms of the necessity of large numbers of credit cards, you're 100% correct. However, as some would argue (on the forums we both had searched) that there are numerous benefits to having multiple cards. Each card has its own perks such as free checked bags on airlines, different access to lounges and reimbursements, and differing amounts of points/cash back depending on the store. I only generally carry two, but when travelling, I have a different set that I add, depending to where I am travelling and via which common carrier.
    – kchason
    Commented Oct 26, 2017 at 11:03
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Chase's 5/24 rule is very strict. I was denied for a credit card I was well-qualified for (long history with Chase through checking & savings accounts, mortgage, several credit cards; credit score > 800) because I was at 6 or 7/24. Which credit bureau they pull seems to depend on what state you're in. More details here.

If there's a credit card you really want, there might be a way around 5/24. Go into a Chase branch and ask if there are any cards you are pre-approved or pre-qualified for. If you are and apply through that route the 5/24 rule does not apply. I can confirm this worked for me even though I was well above 5/24. More details on this here.

EDIT: I want to mention also, another answer mentions calling the reconsideration line if you're not approved right away. As far as I know, this will only work if you are over 5/24 due to authorized user accounts. They will calculate your 5/24 status ignoring those and possibly approve you.

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"Rumors" as such are often validated by data points from "strangers on the internet". It shouldn't be hard to find the initial blog posts on this topic and DPs in the comment section.

The rule is official. Chase includes it in fine prints on certain cards.

You will not be approved for this card if you have opened 5 or more bank cards in the past 24 months.

https://www.nerdwallet.com/blog/credit-cards/chase-5-24-rule-written-out/

Regarding "how true"...

There are a few data points indicating that this policy can be overruled in certain situations, mostly during which the applicants are able to convince Chase that they are much less risky than what their "5/24" status suggests. I personally know people who have done this. Whether or not it's worth it to call the recon line and fight an uphill battle depends on how much you want to take advantage of the often lucrative promotions.

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  • A link or screen print would be helpful.
    – RonJohn
    Commented Oct 27, 2017 at 16:31

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