Chase 5/24 Rule: What It Is and How It Affects You

If you’ve tried to get a new Chase credit card and got a flat‑no, the 5/24 rule is probably why. In plain English, Chase looks at how many revolving accounts you’ve opened in the last 24 months. Open five or more, and they’ll likely turn you down, no matter how great your credit score is. It’s a simple filter, but it can catch even seasoned card‑hounds off guard.

Why does Chase care about the number of cards you open? The bank wants to limit risk. Every new card adds potential debt, and a flurry of openings can signal financial stress. By capping approvals at four new cards in two years, Chase tries to keep borrowers from over‑extending themselves. That doesn’t mean you can’t have a high score and still be blocked – the rule works on count, not credit quality.

Why Chase Uses the 5/24 Rule

Chase isn’t the only issuer with a limit, but it’s the most talked‑about. The rule helps the bank manage its portfolio and protect against defaults. It also creates a sense of exclusivity; getting a Chase card feels like a perk you’ve earned, not just another line of credit. For the consumer, it means you have to be strategic about when you apply, especially if you’re juggling other cards from different banks.

Most of the time, the 5/24 count includes only revolving credit cards – personal loans, mortgages, and auto loans usually don’t count. However, store cards and authorized user accounts can add to the total, so keep an eye on those. A quick check on your credit report can show you exactly where you stand before you hit “Submit.”

Ways to Work Around the 5/24 Limit

Don’t panic if you’re over the limit. One trick is to open a card with a different issuer and wait for it to age out of the 24‑month window. Another is to become an authorized user on a partner’s account; that adds the card to your report without counting as a new opening for the 5/24 rule. Some people also close older cards to clean up their profile, but remember that closing can affect your credit age and utilization, so weigh the trade‑offs.

Finally, focus on timing. If you’ve got two cards opened this month, pause any new applications until a few months later. Use a spreadsheet or a phone reminder to track each opening date. When you’re ready to apply for a Chase product, double‑check your count – a simple spreadsheet can save you a rejected application and a dent to your confidence.

Bottom line: the Chase 5/24 rule is a count‑based check, not a credit‑score test. Keep tabs on how many cards you’ve opened, plan your applications, and use authorized user tricks when needed. Stay within the limit, and you’ll find Chase’s premium cards much easier to get.