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"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules

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Capital winter is coming, the banks have recently tightened their credit card policies.AMEX limit the opening of once in a lifetime award, Citi launched a 18-month rule, and Chase "two five-card" rule is a blockbuster.Recently this rule will effect all outgoing messages on Chase cards.Give you a detailed explanation of the principles.

"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules

"2016.5.24" according to DOC news, some joint cards are chase after the 5/22 affected by this rule.See Chapter 4th

"2016.2.11" according to sources in March, Chase Business credit cards will be subject to a two-year five card limit.In April, air hotel name Chase card will be limited.Since April, all Chase card applications are exempt from this rule.

1. Two five-card rule (5/24) rules overview

Chase was introduced in 2015 "two five-card" policy, that is, Americans say the 5/24 rule.The core is:

  • Within two years, credit reports are more than five new credit card accounts, apply for a Chase credit card will be automatically excluded

Before the rule only in the Chase on his personal credit card, business credit cards, airlines and hotel groups of cards are not included in the scope of this rule.Has been a part of the Chase their card, such as Freedom, Sapphire Preferred (CSP) who had little effect.However, the news that this rule will be in effect after April this year, all in the Chase credit card.The bombshell for people playing cards is a huge blow.

I just a few keywords below: two years of credit reports, new accounts, automatic rejection, scope rules, to interpret this rule.

2. Two years of credit reports

First of all, we must understand that, after you apply for a Chase card, Chase decides whether or not to approve your credit card when reference is he calling you to a credit Bureau's credit report and credit score.Therefore, all restrictions on you from your credit Bureau's credit report under this rule, are you from applying for a new Chase card credit report is 2 years back in the day.In other words, not on the credit Bureau's credit report for two things, Chase is not seen.Emphasize this is because:

  • Your new accounts appear on your credit report and your application is inconsistent
  • Three credit bureau reports are not exactly the same

Advantage of this is that, two years before I applied for seven cards, two of them yesterday.So, despite yesterday's credit card has passed, but it certainly does not appear on my credit report (General banking needs 1-2 statement will report your new card).So, if I apply for a Chase card, Chase is not on my credit report card yesterday, so no restrictions to this rule for me.Also, if a credit bureau such as EQ on your new account has emerged, yet Chase calls EX a credit Bureau's credit report without your new account, you are not restricted.

The other hand, after the credit reporting your new card, generally in accordance with the date of your application has been approved as opening dates and dates of new accounts.So, if you want to point in time application, at least one last time the last credit card was approved the next two years.Of course, I don't recommend cards so tight, a little more than 10 days is more secure.The simplest approach is to get a Chase Pull a credit Bureau's credit report, look at new accounts within two years.

3. New accounts are what?

At present, the rules include

  • Chase your new credit card accounts
  • All other banks ' new credit card accounts
  • Including credit cards under the card account

Front two are easy to understand, because it is their new applications for credit card accounts.The so-called secondary card account what others put you in his credit card a second card, or Authorized User.And secondary card information on a credit report is there, for example the following figure is the second card I added to my wife's account.

"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules

And this time of the under card account each bank on a different count, such as Citi is in accordance with the opening time of the master card, AMEX is the opening time of the under card, so the proposal is to a credit report, figuring out the opening time of the secondary card as well.

If you were to apply directly online, due to the main card + accessory cards automatically rejected.Call Reconsider when can customer service and clearly this card is a second card, customer service is sometimes excluded from this card to you once again, if the primary card number less than 5 is possible within two years.Therefore, since the Deputy must call Chase card rejections, and the customer service person.

To note is that this new account does not include some of the following:

  • Applications such as lines of credit/upgrade Hard Pull
  • Applied for but did not pass credit card
  • Other loan accounts

4. The scope of a rule

We have mentioned above are the rules how two years how to calculate five cards.I would like to introduce here is what new Chase credit card application will be limited by this rule.

"2016.5.24" according to the DOC's article and summarize the data point

Currently restricted credit cards are:

Currently unlimited credit card are:

This list may update at any time these days, it is recommended that all the data point to stabilize before Shen, avoid unnecessary Hardpull.

5. Several methods of breaking limits

Limit is eliminated only when everyone was trying, there are users testing the following method you can disregard "two five-card" limit.

  • Chase's letter to send you Pre-Qualify, which will have a unique invitation code, use the Code request may bypass restrictions
  • To Chase local Branch applications need customer service can be found in the computer you Pre-qualify some credit card applications that can bypass the restrictions
  • Chase Private Client

Is in need of attention, the former two methods only a credit card issued by Chase Home, there will be no air hotel name Chase cards.If April is really "two five-card", then these co-branded card will actually be restricted.Last method only 1-2 more than 5 under the rules.Pre-qualify query methods, see:

6. Impact on our apply for a credit card

Our application strategies certainly vary with the Bank's rules.In this system, if you want a Chase credit card, first check the Pre-qualify.If you exceed the limit of two five-card, is that their darling for some time now.If you finally get to the restrictions lifted, AOR method is recommended, once made a few more Chase cards, you can merge HardPull and pass several Chase cards.

Card also does not affect aviation and hotel group, current rules has not affected, in April may be restricted.So, before this, you can try to apply some good cards such as Chase IHG,Hyatt,British Airways,Fairmont,AARP.



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"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules
"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules
"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules
"5/24 Update: more card limited" five card Chase credit card application two years (5/24) interpretation of rules

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