Chase Sapphire Preferred 5/24 rule

[Pizzabrewer]

I'm sure this question has been answered previously on the forum so forgive me if it's a duplicate.

I have a Chase checking account and a Freedom card.  I am also definitely over the 5/24 rule for the next 12 months or so.

However I recently clicked on the "Your Offers" button while logged on in their app and it says I can get a Sapphire Preferred card with 50,000 point bonus and the first year fee ($95) waived.

Before I apply for it, I'd like to know if the 5/24 rule will still apply and my application will be shot down?  If so I'd rather avoid the process and possible pull on my credit record.  But it does appear as though they're inviting me to get the card.

TIA for any insight.

[Mrbeardedbigbucks]

I'm fairly new to the credit card travel hacking game so maybe someone more experienced will chime in here but based on my experience, Chase did not enforce their 5/24 rule on me.

In 2017 I was approved for the following cards in order:

Southwest Rapid Rewards Plus
Southwest Rapid Rewards Premier (to get the companion pass)
Chase Sapphire Preffered
Amex Gold Card
Amex Starwood Preferred Guest
Hyatt Credit Card (chase)

None of the cards are business cards and I'm also an authorized user on my wife's Amex Gold card. I was over 5/24 when I applied for the Hyatt card and was approved no problem.

Unfortunately, I don't think you'll get a definitive answer until you apply. It's always a YMMV thing with credit cards.

 

[frugaliknowit]

I "play footsie" with the snake Chase regularly.

What's the 5/24 rule (I am thinking 24 months for something...)? 

Never mind, I found it:

A note on the application page for the Chase Sapphire Reserve℠ read, “You will not be approved for this card if you have opened 5 or more bank cards in the past 24 months.” That total includes cards from all issuers, not just Chase.
The language was removed from the page on Sept. 1, 2016, but the rule is presumably still in effect, unwritten though it may be.

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

[NextTime]

I was turned down for the Chase Ink a couple of months ago due to their 5/24 rule.

I've heard of several others that didn't have an issue even after being well over the 5/24.

[Pizzabrewer]

So I did some research and found a mixed response. Some were approved, some denied.

I took the plunge and clicked the link. The only question was annual income. I entered that and in 30 seconds was approved with a $19k credit limit.

Woo hoo!!

[Catbert]

I realize that OP figured out the answer to his question, however, others may be reading the also.  If you want to get more info about 5/24 or any travel hacking issue, try flyertalk forums instead of here.  This thread/wiki discusses all things chase credit card related.   


https://www.flyertalk.com/forum/chase-ultimate-rewards/1809882-applying-chase-credit-cards-2017-onward.html#

[kpd905]

To anyone that is over 5/24 and wants to get back under, you can open business cards that don't report to the personal bureaus. 

I grabbed a bunch of Amex, Bank of America, and Citi business cards in the last 6 months to dip back under 5/24.

Here is a list of the companies that do or do not report business cards to the personal credit bureaus: https://www.doctorofcredit.com/which-business-credit-cards-report/