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-On The Topic Of Chase 5/24: Here’s What You Need To Know About Additional User Cards
Today is 5/24 day, a sad day for mileage junkies.
For many years credit card sign ups was an easy sport. It wasn’t difficult 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 7 years. In 2016 AMEX extended that to the business cards.
On about 5/24/15 Chase made a guideline to finally control credit card sign ups without going quite as far as AMEX did. They made it difficult 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 5/24 guidelines to include most of their credit cards.
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.
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.
Authorized user cards are where things get tricky. The system automatically counts them towards 5/24. 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 shouldn’t count towards 5/24.
Even if you are at 4/24 (opened 4 cards in the past 24 months) people have had success applying for and getting approved for multiple Chase cards as the 5th approved card hasn’t appeared on their credit report yet.
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 argue 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!
There are 5 mileage earning credit cards that aren’t yet affected by 5/24. On the consumer side they are the IHG card, Hyatt card, British Airways card, and the Ritz-Carlton card. On the business side there is the Marriott Premier card.
That means you can get approved for these cards even if you have been approved for more than 5 cards in the past 24 months. However all approved consumer cards still add to your 5/24 count, so getting approved for them will still affect your ability to get other Chase cards.
You can view credit card offers by clicking on the “Other Credit Cards” tab on top of the DansDeals banner to view links for card offers. You can click on the link that says “View all card offers by issuing bank” and scroll down to view all card offers from the bank of your choice. Here’s How To View Credit Card Offers On This Site.
-The Chase Hyatt card offers 2 free nights at any Hyatt in the world for signing up and spending $2,000 within 3 months plus 5K points for adding a free authorized user. You can use those free nights at luxury Park Hyatt hotels in places like NYC, Sydney, Paris, or the Maldives that normally go for over $1,000/night! You’ll also get an annual free category 1-4 hotel night every card anniversary, which can be used a hotel like the Andaz Papagayo Costa Rica that can cost up to $600/night. The card also gives Discoverist elite status, which gives free premium internet, bonus points, and 2PM late checkout. Cardholders also qualify for annual promotions like this one for a rebate on award stays. Hyatt points will not expire for as long as you are a cardholder. The card has a $75 annual fee which is easily negated by the anniversary night.
Lazy river at the Grand Hyatt Kauai:
-The Chase British Airways card offers 50K bonus Avios for spending $3K in 3 months, 25K bonus Avios for spend an additional $7K in a year, and another 25K bonus Avios for spending an additional $10K in a year, for a potential 100K bonus Avios. If you spend $30K in a year you’ll also get a British Airways companion ticket when you redeem Avios for a BA flight, though it will be subject to fuel surcharges. Award tickets start from 4.5K Avios abroad or 7.5K Avios for domestic flights. First class domestic flights have been lowered from 30K Avios to 15K Avios. The caveat is that American’s award availability has gone down. You can use BA Avios for travel on Alaska, but you’ll have to call BA to book that. You can book Avios without any close-in fees and you can cancel domestic flights for just $5.60. BA Avios also allows you to bring a lap child on international flights for just 10% of the miles that an award costs instead of paying 10% of the full fare as other airlines charge. The card has a $95 annual fee.
-The Chase IHG card offers 60K points for spending $1,000 within 3 months. Cardholders get a 10% rebate on all points redeemed, making PointsBreaks hotels just 4,500 points. It offers an annual free anniversary night for use at any IHG hotel in the world, including properties like the Intercontinental Bora Bora that normally cost 60K points or $800/night. The card also offers free Platinum elite status. The $49 annual fee is waived for the first year.
-The Ritz-Carlton card offers 2 nights in tier 1-4 Ritz-Carlton hotels for spending $4,000 in 3 months. It excludes use at tier 5 hotels like the Ritz-Carlton Bal Harbour. It offers $300 in annual airline fee credits, though you need to call to get reimbursed for free and it’s not valid for tickets. It comes with a Priority Pass membership, Global Entry fee refund, and $100 off domestic coach airfare when you purchase 2 or more round-trip tickets on the same itinerary. The card has a $450 annual fee.
-The Marriott Premier Business card offers 80K points for spending $3,000 in 3 months. The card comes with an annual category 1-5 anniversary night. The card had a $99 annual fee.
Share your 5/24 experience in the comments!