This rule is SUPER important to know about because some of the best credit cards for points and miles are issued from Chase! Chase will not approve you for ANY of their cards if you’ve opened 5 or more personal credit cards in the last 24 months from any bank. It doesn’t matter if you’ve already closed the card with the last 24 months– it will still count as a 5/24 slot. Most business cards don’t count toward your 5/24 unless they are issued from Discover, TD Bank and some Capital One business cards, with the exception of the Capital One Venture X Business and the Capital One Spark Cash Plus accounts. These 2 business cards will not add to your 5/24 status!

Background

When I started my points and miles journey, I had no idea about this rule and I was just opening cards up that I wanted–which was fine, but then when I learned about the 5/24 rule, I had to wait a while before I could get some of the very BEST award travel cards including my all time favorite– the Chase Sapphire Preferred® Card. So, if you can avoid this bump in the road you’ll be better off and of course if you’re like how I was–just be patient and before you know it you’ll be back under 5/24!

How do I keep track of my 5/24?

The easiest way to keep track of your 5/24 status is to log each of your credit cards into my favorite travel rewards app the TRAVEL FREELY APP. This free app is key to staying organized and will be your best friend when trying to figure out when an annual fee is coming due, a minimum spend needs to be met and SO much more!

If you can’t remember if or when you’ve opened any credit cards in the last 24 months, you can create a free account on Experian or Credit Karma and check your detailed credit report. Then, take those dates and input them into the TRAVEL FREELY APP.

What Not to Do

Something else that will affect to your 5/24 status is if you’ve been added as an authorized user on another persons account. This is why I ALMOST ALWAYS recommend to NOT add another person as an authorized user. If you have added someone to your Chase account as an authorized user in the past 24 months and it is affecting their 5/24 status, you can call Chase and ask for them to be removed.

Bottom Line

The bottom line is that you will most likely want to prioritize getting some Chase cards first so that you can get some of the most versatile cards before your status could potentially go over the 5/24 mark. Always remember that this a marathon and not a sprint, so pace yourself and be thoughtful about which cards you apply for and when you apply for them!