It’s 5/24 Day; What’s Your Chase 5/24 Strategy?

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Today is 5/24 day, a sad day for mileage junkies.

For many years it was easy to open hundreds of credit cards and rack up millions of miles and there were lots of easy ways to spend and earn miles. I’ve burned through 8 figures of miles flying around the world in first class and am still sitting on 8 figures of miles thanks in large part to the good old days.

Then the banks started cracking down.

In March of 2014 I broke the news that AMEX consumer cards went to a one signup bonus per lifetime system. In reality it’s more like once in about 6 or 7 years. In 2016 AMEX extended that to their business cards.

On about 5/24/15 Chase made the 5/24 rule to limit credit card signups. They made it very hard to get approved for a Chase Sapphire or Freedom card if you have been approved for 5 cards from any bank within the past 24 months.

On about 5/24/16 they expanded the 5/24 rule to include most of their credit cards and since then it’s been expanded to all of their cards.

The worst part about 5/24 is that you can’t even get a card that you want for the benefits while forgoing the signup bonus as AMEX allows.

While the policy is unofficial, it did show up on the Sapphire Reserve application very briefly, though it was quickly removed:

5/24 doesn’t look at card applications. It only counts the number of credit cards (on the single report that they pull) that have been opened within the past 24 months. The report that Chase pulls can vary from card to card and state to state.

You can get all 3 of your reports (Experian, Equifax, and Transunion) for free on annualcreditreport.com to see how many cards you have that have been opened within the past 24 months.

If you’re just starting with credit cards, you’ll want to start off with Chase cards that may be harder to get later on due to 5/24. A card like Chase Sapphire Preferred offers 60,000 points for signing up and is a great way to transfer Chase points into miles. You can read more about it here.

Chase has several great business cards as well that are all subject to 5/24, though it’s worth noting that business cards from AMEX, Barclaycard, BOFA, Chase, Citi, and USBank don’t show up on your report and don’t count towards 5/24. Spending on these cards also won’t affect your credit score as they’re not on your report.  Business cards from Capital One and Discover do show up on your report and will affect 5/24.

That means you can signup for business cards and not worry about that setting you back for the next time you want a Chase card.

Authorized user cards are where things get tricky. If you are an authorized user on someone elese’s card, the system automatically counts those cards towards your 5/24 count. Even if you call reconsideration, they will turn you down for 5/24 based on having authorized user cards that were opened in the past 24 months. However if you tell the reconsideration rep that you aren’t financially responsible for the authorized user cards then they will not count them towards 5/24. If you have any issues you can ask for a reconsideration supervisor and tell them that you aren’t financially responsible for the cards. You can HUCA if you are still denied due to authorized user cards.

Store cards that are only good for use in a single store are also tricky. The system will count them, but you can explain to a reconsideration rep or supervisor that the card can’t be used anywhere but that store and then they won’t count towards 5/24.

Before calling reconsideration, be sure to know exactly how many cards you have opened in the past 24 months. That way when a rep tells you that you are at 9/24 you can ask for a manager and explain that authorized user cards and store cards should not count. Be sure to remember to stress that you aren’t responsible for the authorized user card!

Do you try to stay under 5/24 to get approved for more Chase cards? Or do you not even try to stay under 5/24 and focus on cards from other banks?

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51 Comments On "It’s 5/24 Day; What’s Your Chase 5/24 Strategy?"

All opinions expressed below are user generated and the opinions aren’t provided, reviewed or endorsed by any advertiser or DansDeals.

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Bear

Playing 2-player version, will take turns going on/off 5/24 as needed.

Jacob

Dan
What can I do with avios points?
I dont travel international and I mostly use my miles to fly my son home from Calif for yom tovem.
And mostly via United to Newark as I’m in nj
Thank you for any help
Jacob

Alex

You could sell them.

t

We are still trying to figure out the best strategy for our family we have a mix od personal and business cards but will soon be traveling very frequently from Japan to stateside (3-4 times a year) and what to maximise our points. Any suggestions on where to start?

Liam K. Nuj

How can one be not financially responsible for an authorized user? That seems quite illogical. If that authorized user fails to pay, won’t the bank come after the original card holder for payment? And if the original card holder doesn’t pay the charges racked up by the authorized user, won’t it show up on the original card holder’s credit report?

Joel2

5/24 can still be circumvented via a targeted offer ONLY IF YOU HAVE A SET APR!
This offers can be found in branch or online
“Selected For You”/”Just For You” Offers.
As always YMMV

Jake

Any update on the british devaluation?

chaim

before 5/24 how often could you recycle the same card on chase?

Avi

Store card one of 5/24, not approved including HUCA

Yakov

Hey, i have the Sapphire Preferred and want to downgrade it… i called chase they said i can chose freedom, freedom unlimited (which i have) or the regular Sapphire which apparently you can no longer sign up for,.

i already have a freedom unlimited, and i was wondering if i should get another one or the regular Sapphire, anyone can shed some light on the benefits of the Sapphire and what i should get?

thanks

chaim

obviously the only way around it seems to be business cards however i think many people have a worry of being shut down totally by chase for abusing the system now that they are focusing on it.

on a similar note with the ada\option of more and more airlines to dynamic pricing for redemptions( witness lufthansa today) you are getting squeezed on both ends It’ harder to rack up the miles and harder to get the aspirational redemptions.
Honestly somebody starting out now even if he would be as savvy as dan (admittedly extremely difficult) would find it difficult if not impossible to replicate his successes

NYC Mavin

If someone is not a frequent flyer (2 or 3 round trips per year and usually NYC to Florida) does it really make sense to play these credit card games? Many non-businesses such as yeshivas, shuls, charities, and government agencies now tack on credit card processing fees which offset any points you may get. I find that people tend to get in over their heads by overspending on their cards and end up paying more in recurring interest charges than they earn in points.

Ay

@dan, does AUs on your account count for 5/24 ??

Alex

Applied for Chase ink (biggest points offer) and they sad they will get back to me. Anythink what I could do to be approved?

Alex

I only have 3 cards and 2years credit

Gary

Wait. Good things come to those that wait. Don’t call until denied.

josh

i always thought its worth it to call in to get the process expedited in your favor, why do you say its better to wait?

Arie A.

I shudder to think that they might one day extend the rule to 5/48

Miriam Leah

Dan
Can I fly Alaska airlines with Avios?

Eli

yes, if you call BA

mendel

I’m in the 5/24 but one of my cc was close right after opened and the other is a bestbuy cc (that actually works every where) there is a chance to call for reconsideration ?

Qwerty

If they extend it to 5/48 when will they release the rules on 6/1?

josh

how many chase cards can i get approved for at once?

Michael Kaye

Here’s a question: so i am not even at 5/24 with chase and applied for the Hilton Amex and they said i could apply but could not qualify fit the signup offer due to my history with amex. I closed one starwood biz and one delta plat. Does anyone know if there is a way around this or hire Amex decides this?

bradley sherman

if your are say 4/24 you can try to apply for 2 or 3in one day which sometimes works

novice

Hi Dan,
Dan,
I just applied for a chase ink business cash card. I’m a therapist and wrote “sole proprietor” and applied with my name and social as tax ID. Is it a bad sign if they said they have to look into it more? I haven’t opened or named myself as authorized user on more than 3 cards in the past several years and my credit is excellent.

dave

dan what about having one spouse stay under 5/24 and just apply for business cards while the other goes all out foregoing future chase cards

Yisroel

Do closed accounts within 5/24 or accounts open more than two years ago qualify for 5/24?

YoniPDX

@Dan,

DW had CIP and CIU – that Chase converted to Business Capital – this year RE: Govt entity -they considered her SP biz entity as “Government” cards opened last year spring and summer- MSR met, card converted earlier this spring- CIP AF refunded.

Can she get 80k Bonus again (SP but using different biz entity – she applied for CIC and met MSR in April 50k posted).

Didn’t see any timeframe on CIP bonus churn, was going to go for United biz but CIP is more valuable if she can get 80k UR).

Thanks

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