Maria Adams, Credit Cards Moderator
The 5/24 rule is one of the criteria Chase used to have in order to qualify new credit card accounts. When this rule was in effect, it meant that you couldn’t get approved for most Chase credit cards if you had opened five or more personal credit cards (from any card issuer) within the past 24 months. However, Chase no longer takes this factor into consideration for their credit card applications.
According to Chase customer service, when they review an application, they do consider how many credit accounts the applicant has recently opened. They will not, however, automatically deny an application solely for opening 5 cards in the previous 24 months. In any case, opening several new credit card accounts in a short timeframe is not good for your credit score. It’s better to allow at least six months between applications.
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