Rodney Bennett, WalletHub Analyst
@rodneyben
The Chase Ink Preferred 5/24 rule is not real, at least not as of July 2020, according to Chase representatives. References to the Ink Preferred 5/24 rule regularly appear in user forums online, and the idea is that Chase will automatically reject an application for any Chase card if the applicant has opened 5 or more credit card accounts in the previous 24 months, regardless of issuer. This rule isn’t currently spelled out anywhere in the terms for Ink Business Preferred or any other Chase credit card, however. Chase reportedly posted language detailing such a rule in the past, but the content was later removed.
Chase has stated that 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 too many new credit card accounts in such a short timeframe is not good for your credit score. It’s better to allow at least six months between applications.
Other factors Chase considers when you submit an application include your credit score and credit history, gross annual income, outstanding debt relative to income, and monthly housing payment, among others. Chase Ink Preferred requires at least good credit in order to have high odds of approval.

Ink Business Preferred® Credit Card
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