Description: The passage is about chase reserve. The author is willing to talk about the chase 5:24 rule and what cards are affected by this. There are a few ways to get around this or to bypass it, the chase 5:24 rule is going to totally affect what cards you are able to get including a lot of good cards on the market.
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Today I’m going to talk about the chase 5:24 rule and what cards are affected by this, but if this is your first time here, my name is Jason, I’m the founder of Nomad travel hacker.com, I’m a Travel Awards consultant and I teach how to use travel points and miles for free travel, so be sure and subscribe, so you don’t miss anything.
This is a very important video on a very important subject, so if you are going to get into the travel rewards game or if you’re already in it, you need to understand the chase 5:24 old and you need to know it well.
So the chase 5:24 rule is going to totally affect what cards you were able to get including a lot of best cards on the market, so let’s jump into it.
The chase 5:24 rule means that if you have five or more new credit cards in the last 24 calendar months, you will not be approved for the majority of their cards, there are still some chase cards that you can get.
But the majority of their best cards, you are no longer going to be approved for and that sucks, so there’s definitely a strategy to applying to chase cards, this is definitely what I recommend, if you’re getting started, I would start with chase cards until you get to this 5:24 number and then go on from there.
So if you’re getting started, it might sound like, you’ll never get to five cards in 24 months, but trust me, once you get started in this game, things get escalated quickly, so you have to have four cards or less than the last 24 calendar month.
This is a rolling calendar system here, so four cards or less in the last 24 months or two years to be approved for the majority of their cards. I’m going to go through what cards are affected by this unwritten rule by Chase.
There are a few ways to get around this or to bypass it, but a lot of the loopholes that used to exist around this have disappeared, but the best way to get around this 5:24 number is by applying to business cards, so the business cards that do not count, come from Chase American Express City US Bank Wells Fargo or Bank of America.
So interestingly enough, you could apply to chase business credit cards and they would not count towards the Chase 5:24 rolled also interesting that you cannot get approved for chase business cards.
Once you are at the five twenty four period, so one way to keep yourself under five twenty four is by applying to chase business cards, so these are good strategies, because business cards are that a lot of them have great benefits and are a great way to keep that.
These small business cards are a great way to keep new inquiries and new lines of credit off of your personal credit, so they’re helpful and something that you should definitely look into now, if you’re not able to get approved for any small business cards, then there are a few other ways around this, there used to be quite a few ways to get around this 5:24.
But the majority that disappeared, so I’m not going to get into those one of the best ways to get around, this is a branch offer, so basically, if for some reason, you are in a chase branch and you’re working with someone on their banking team and they basically say you’ve been pre-approved for some kinds of credit card offer, there are data points to say that people are still getting approved majority of the time with this.
But your mileage may vary and a lot of these things, I’m going to talk about here are hit and miss, but if you are offered something by a chase agent and it’s important to note that they need to offer you this first and not you asked for it.
So if they offer you first, you’ve got a good chance of being approved, so that’s one way to get around this and probably the best way to get around it outside of the business cards, people are saying that if you do ask a chase agent and they do double check for you.
Some people have had some success getting approved, but most of the time, they need to ask you first instead of your asking them, if they have to go and check good chances, you’re probably not going to be approved.
If you’re over 524, so one way that you can get around 524 that a lot of data points suggest is working well, if you are an authorized user on one of those five cards now, if you’re an authorized user on several cards, it probably won’t work.
But if you’re one of those five accounts that you have open, you are an authorized user for it, you might be able to get them to drop it, if one of those five cards you are an authorized user for meaning that this is someone else’s account, a friend, a family member, a spouse and you were basically added as an authorized user on there and it is not your account, it’s someone else’s account and you can plead the case that you don’t have financial responsibility for it and a lot of data points say people have gotten approval even though they are over five twenty four.
But basically you would have to be at number five exactly and get them to not count this and drop back down to four, a lot of people have had success with this method, but basically, it’s up to the chase agent and your mileage may vary.
But if you know you’re at five twenty four and you get a chase agent that does not approve you for this, I would hang up the phone and I’ll back and see if you get one that will approve you another way around this and this used to work well back.
If you happen to have a branch manager, that’s a friend or one that you have a good relationship with or one that you can get them to write their own, you have written request for approval, they may be able to get around it, but it doesn’t work that well, if you’re hell-bent on getting one of these chase cards and you’re over 524, this is an option that you can take, it might not work.
The last thing here is luck. I know I’ve had clients that have been well over five twenty four that did not have business cards that swear to me, they have been approved for the Reserve or the preferred by applying online or calling and applying.
So sometimes you can slip through the cracks, some people say that they’ve gotten offers in the mail basically and with some kinds of reference number and they called in and got approved, other people are saying that inside of the the chase app, then they saw an ad and they clicked on it and got a proof.
So your mileage may vary and you might be able to slip through the cracks, but more than likely, it’s probably not worth getting another ding on your credit for something that you’re probably not going to be approved for.
But hey go for it, if you want, you’ll maybe also through the cracks and be one of those numbers, so what cards fall under this Chase 5:24 rule, so this is stuff that you need to know and these are the cards that you want to apply for before you start to move on with other cards.
So all of the chase freedom cards or both, I should say they do fall under Chase 5:24, both of the Sapphire cards they’re reserved and the preferred fall under 520 for both of the chase ink cards fall under 524 even though they don’t count towards 524.
You do have to be under 524 to get a proof one, so this one’s interesting to chase mariette personal cards, because the chase marriott business card, it does not count towards 524 for some reason and all the united cards count towards 520 for the personal and the business.
So I hope this video on chase 5:24 was helpful, if it was, please give me a thumbs up, it helps me out, drop me a comment below and let me know any other ways around the chase 5:24 rule, if you haven’t already, go ahead and subscribe, so you don’t miss any upcoming videos and if you’re looking for a way to support the channel, any of the links below do help, keep the lights on here and I do appreciate your support, thank you for your time and I will talk to you soon.