Rules to Know for Chase Credit Card Applications: Chase 5/24!

Before applying, it’s important to understand the rules for applications (2/30 Rule), eligibility (5/24 Rule), and bonuses (once every 2 years).

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[falcoperegrinus]

Chase is very strict and I figure they have to be to combat churners. But I hope we can continue finding loopholes. I like sticking it to the big banks!

[blakecmaster]

Hi Sebby,

Just wanted to give you an update and some data points re: chase application For cards.

My strategy for 2019 changed a little and I have quite a few domestic trips coming up (weddings, bachelor parties, etc) and I’m now aiming for the southwest companion pass.

I applied for both the southwest business card and the personal premier card to get the sign up bonus totally 100k points toward companion goal of 110k with total minimum spend of $4K.
I was worried about applying for both at the same time but wanted to avoid two separate credit checks. You’ve done a few videos on chase / applying for two credit cards at once so I went for it.

I applied for the business one first (thinking if I got the first but not the second I want the one with the bigger sign up bonus). After applying online it said “we are processing and will get back to you soon”. I call the reconsideration line and just verified my info and she approved it on the spot and said it will be mailed in 2 weeks. This phone call took 2 mins.

Then 10 minutes later I applied for the personal one and same automated response “processing and will get back to you soon”. I called the reconsideration line again and spoke to a different credit agent and explained I was approved for the business one and applied for personal card to keep finances separate and to avoid two credit checks on different days. He put me on hold and review my application and then came back on the line and went through the info I put on the application, asked what my employment was, etc. Put my on hold again and approved the personal card. This took about 15 mins.

So I got 2 chase cards in 1 day. Just had to be diligent and spend max 15 mins on the phone so chase could verify I am who I said I was.

Thanks for all the great credit tips.

[englee]

Bro, you were talking so fast. Very informative video

[YasserSultan]

Does Amazon Prime credit card count as a Chase card?

[kuthejems]

Do you get any video of Americans express rewards gold card please

[larrybowden]

You should do a video on who is the best cc issuer or who has the best cc's available. (AMEX, Chase, Citi, etc.) that would be an interesting video to watch.

[Bit]

I really like these charts. Is there somewhere on your website that you keep these updated for the major cc issuers? If not it would be very helpful!

[lrivera]

Where can I find an updates list of chase cards that are not affected by 5/24 rule

[mikelake]

I have two of the UAL Mileage Plus Explorer cards one for myself and one for my wife. I have the Saphire Reserve for personal use and Saphire Preferred for work. I have had all for over 2 years now. Should I be thinking about closing them off and signing up again on them all for the bonuses? How do folks do that so the bonuses roll?

[ThePatNaman]

I have a hard enquiry though my internet service provider. Does this count towards 5/24 rule?

[dabol]

so does charge cards apply? if i open a amex platinum card will that count as an account against me ?

[dexterzaf]

Sebby, do Jewelry store card i.e. Kay Jewelers and Daniel Jewelers cards count? These card does not have Visa/Master card logo. My wife was approved for Chase CSP with 5 new accounts opened in the last 8 months, but 2 are Jewelry store cards.

[goddesignd]

How long do you have to wait for a response from Chase??

[ther]

What if you open five or more within the last two years but some of the accounts are now closed would you be penalized for applying to the Chase card? Also does the 5/24 apply to the chase bonvoy card?

[joshuadrayton]

Hey webby
What does your credit score have to range to qualify for a chase freedom card?

[lawandorderking]

Hey Sebby. Great video. I have freedom and amazon (by chase). Both serve me well! To answer your question, It's not unreasonable for chase to have the 2/60 or the 5/24 rules. They have to have some protection on their end from excessive applications or to lose money on their end from those who are desperate for credit or those who just sign up for their intro rewards. Basically, a customer can't just be ok'd to apply, apply apply!

Also, I was just thinking, some customers prefer to use AMEX, discover, visa, and MasterCard as their preferred network and apply to CC's accordingly based on the network. While I have one of each (because I applied for cards that match my needs), I can tell there are subtle differences. You and I know that chase prefers visa, citi prefers MC, other issuers have more variety. Can you do a video explaining their differences and benefits to different card categories?

[lohengrinknight]

I was pre-approved for the Discover it card, and got rejected in the end because I had too many inquiries in the last 12 months. So the pre-approved thing is basically bs.

[kofinater]

I find Chase's intro offer tend to generous, so while the rule is annoying its not too bad. I'm new to churning so im focusing on obtaining the 3 card chase system first then getting more liberal with apps

[-_bigtap]

You were wrong about Amazon Prime card its 5/24 too. I got a letter saying that.

[littlelove_Hawaii]

Which one should I apply first if I want to have both freedom card and sapphire card?