topic Chase 5/24 Rule Cooldown in Credit Card Applications

Chase 5/24 Rule Cooldown

frogsage — Thu, 14 Nov 2024 05:19:45 GMT

When exactly are we no longer restricted by the Chase 5/24 rule? If I opened 10 credit cards in the past 2 years, would the credit cards be removed once they individually reach 2 years or do I get 5 credit cards removed every 2 years?

Re: Chase 5/24 Rule Cooldown

JoeRockhead — Thu, 14 Nov 2024 12:58:35 GMT

@frogsage wrote:
When exactly are we no longer restricted by the Chase 5/24 rule? If I opened 10 credit cards in the past 2 years, would the credit cards be removed once they individually reach 2 years or do I get 5 credit cards removed every 2 years?

They're no longer counted towards 5/24 as they individually turn two years old from the account opening date. Many people wait until the 1st of the following calender month to be safe when applying for a Chase card.

Re: Chase 5/24 Rule Cooldown

christopher356 — Mon, 02 Dec 2024 04:34:24 GMT

@frogsage First Progress secured credit cardwrote:
When exactly are we no longer restricted by the Chase 5/24 rule? If I opened 10 credit cards in the past 2 years, would the credit cards be removed once they individually reach 2 years or do I get 5 credit cards removed every 2 years?

The Chase 5/24 rule is an unofficial guideline that Chase uses to determine whether or not to approve new credit card applications. It states that if you have opened five or more new credit cards in the past 24 months, you will likely be denied for a Chase credit card. This rule applies to all new credit cards, not just Chase cards, and includes authorized user accounts. If you opened 10 credit cards in the past 2 years, you will need to wait until those cards are more than 24 months old before you can apply for a Chase card.