Chase 5/24 Rule Exceptions – When You Apply Too Early But Call Later
Chase 5/24 rule exceptions are like a unicorn in this hobby. Because Chase has credit cards that can be wonderful to have, everyone wants to know how we can get more of them. How can we get more, even after we’ve passed their 5/24 rule? Here’s a success story on turning a mistake into a win from Jeff Brownson from the Miles & Pints Podcast. He posted his experience in the Travel on Point(s) Facebook Group.
Chase 5/24 Rule In Brief
We have an article on this rule here and also a guide to credit card application rules here. The rule breaks down as follows:
You cannot be approved for a credit card with Chase if you have opened 5 or more credit cards within the last 24 months. 5/24.
It’s worth noting that Chase may sometimes erroneously reject your application under this rule if you are an Authorized User on someone else’s credit cards. They just see the card and don’t note the detail that you aren’t the primary user. You can typically call them, point this out, and get approved.
Chase 5/24 Rule Exceptions
There are obviously Chase 5/24 rule exceptions, such as receiving a targeted offer directly in your name. These typically bypass the rule.
But what if you accidentally apply for a card while OVER 5/24? You’ll be rejected for that credit card.
Can you call later, if you drop under 5/24? Here’s Jeff’s success story.
Applied While Over 5/24, Called Them When Under 5/24
Jeff says:
I messed up my 5/24 count because of a rogue AA card that I was trying too hard not to look at, and I applied a couple of weeks ago for a new CSP with 100k bonus. I thought I was 4/24 at that point but was really 5/24. I was denied, as expected, and called to have my AU cards taken off the count. That’s when I found out about my mistake.
This wasn’t a huge problem because I had another application that was 6/25/19 and that would fall off in July. Today I called the recon line and the rep confirmed that he saw the AU cards, removed them from the count, and then said I was under the required number for consideration. He reviewed my app, moved some credit around, and approved me for the new CSP.
Important to note that multiple people told me that the 5/24 count is from the application date and it wouldn’t matter that I called back after I was 4/24. This is not true. Be your own data point!
Lesson Learned Here
What we learn from this is that your Chase 5/24 status is always counted “right now”, and exceptions to the rule haven’t really changed. However, what HAS changed is understanding of how the rule is applied.
If you apply for a credit card with Chase while over 5/24, you will still be rejected. Maybe you’re over 5/24 today and a great welcome offer on a card ends today. You want to apply, but you’re over 5/24. From Jeff’s point, we see that applying and getting rejected can still be worthwhile.
The key takeaway is that credit card applications are considered valid for 30 days with most banks. If you will drop under 5/24 within those 30 days, applying on the last day of an elevated offer is not a bad idea. The initial rejection can later be overturned when you fall under 5/24.
In short: Chase 5/24 is not simply counted from application date but from “right now” at any given time. You can change an initial denial into approval if you drop under 5/24 within 30 days.
Final Thoughts
Jeff’s data point is interesting and expands our understanding of the Chase 5/24 rule, exceptions to it, and how the bank actually calculates it. Maybe it’s not an exception after all but just an improved understanding of the rule.
He was anxious for the elevated offer on the Chase Sapphire Preferred card (benefits and perks are covered here), and he applied without realizing he was over 5/24. Because he dropped to 4/24 soon after and became eligible for the card, he called back. The phone rep confirmed he was now under 5/24, proving that this is a rolling concept and not fixed in time. It’s not glued to your application date.
If you drop under 5/24 within 30 days of a promotion end date, don’t be afraid to apply for that card!
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