Which Business Cards Count Towards 5/24
Not all business cards count toward the Chase 5/24 rule, but some do. Understanding the distinction can help if you’re trying to stay under (or fall back under) 5/24 for various reasons. So, which business cards count towards 5/24 and which ones don’t? Let’s take a look at the best business card options when you are on 5/24 ice.
These Offers May Have Ended Or Changed
Quick Recap: Chase 5/24 Rule
Chase 5/24 Rule basic explanation:
You will not be approved for certain Chase cards if you have opened 5 or more revolving accounts (including credit cards, lines of credit, etc.) in the past 24 months.
The Chase 5/24 rule in a nutshell: you can’t get any credit cards from Chase if you’ve opened 5 credit cards in the last 24 months. It doesn’t just apply to credit cards from Chase, either. If you’ve opened any cards that they can see, including a department store card, an accidental card, etc., if they can see it on your credit report, it counts. You need to have less than 5 new accounts in the last 24 months to apply for credit cards with Chase, business or personal. But not all business cards count towards 5/24, and that is where certain business cards come into play.
Business Cards Are Your Friend
A common strategy when on 5/24 ice is to stick with business cards that do not count towards your tally. Not all business cards count towards Chase 5/24 (even Chase’s own business cards), and those are the ones you want to focus on. You can use these as a way to still get valuable and useful cards while waiting on Chase offers to become available to you.
Business Cards That Don’t Count Towards 5/24
From data points, information the banks have published, and personal experience, here are the banks where their business cards don’t count towards your 5/24 tally. These will bank’s cards do not show up on your personal credit report:
- American Express
- Bank of America
- Capital One (for new cardholders after October of 2020)
- First National Bank of Omaha
- Navy Federal Credit Union
- U.S. Bank
- Wells Fargo
Yes, even Chase does not include their own business cards in the count. So, once you drop under 5/24 focusing on business cards is a way to keep you there. Some of the most valuable cards for small business owners come from Chase:
Even the Southwest Rapid Rewards Performance Business card is popular with Southwest frequent flyers for the card’s perks and the chance at a companion pass. But let’s assume you are currently above Chase 5/24. What are the best options for you then?
The Best Business Card Options When On 5/24 Ice
Here are the 6 best options for anyone trying to stay on 5/24 ice.
Capital One Spark Cash Plus
Note: This offer is expired.
The best offer on the list for big spenders, for a few more days at least, is the Capital One Spark Cash Plus card. This offer is set to expire 3/14/22, so jump on it while you can if you’ve been considering it. Capital One changed how they reported business cards a few years ago, so they no longer count against your Chase 5/24 status.
Spark Cash Plus $3000 Offer Details
- Earn $500 once you spend $5,000 in the first 3 months
- Earn and additional $2,500 once you spend $50,000 in the first 6 months.
- The card earns 2% back on all purchases
- The Spark Cash Plus has no preset spending limit
- $150 annual fee is NOT waived
- Learn More
CitiBusiness AAdvantage Platinum Select Mastercard
The CitiBusiness AAdvantage card has an annual fee under $100 and a welcome offer that is always one of the best. Remember that Citi previously made some big changes for their terms, so note those when applying. Here’s a look at the welcome offer, card perks, and earning structure.
- Earn 65,000 American Airlines AAdvantage miles after you spend $4,000 within your first 4 months of card membership.
- Get 2X AAdvantage miles for purchases directly from American Airlines.
- Earn 2X miles on purchases at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations. (Even PayPal Digital Gifts Count)
- Earn 1X on everything else.
- Preferred boarding on American Airlines flights.
- Earn an American Airlines Companion Certificate for domestic main cabin travel after you spend $30,000 or more in a year (Redeeming the certificate costs $99 plus taxes).
- 25% discount on in-flight WiFi on American flights when you pay with this card.
- The $99 annual fee is waived for the first year.
The American Express Blue Business Plus Credit Card ranks as one of our favorite business cards AND also as one of our favorite no-fee cards. It has no fee, a simple earning structure, and earns valuable American Express Membership Rewards points. Here are the welcome offer, card perks, and earning structure.
- There’s no public welcome offer, but you can often get one via a referral.
- Get 2X Membership Rewards points on all purchases for your first $50,000 of spend in a year.
- Earn 1X on everything after that.
- 0.0% introductory APR on purchases and balance transfers for 12 months.
- No fee.
- Referral with 10,000 point offer
A strong card on this list is the American Express Business Platinum Card. This card comes with one of the juiciest welcome offers out there and some good benefits for travelers (read about those here). Let’s take a look at the welcome offer, card perks, and earning structure.
- There are offers for up to 150,000 Membership Rewards out there floating around.
- Get 5X Membership Rewards points on flights and prepaid hotels on amextravel.com.
- Earn 1.5 points per dollar on purchases of $5,000 or more and in several business expense categories.
- Earn 1X on everything else.
- Get 35% of your points back when you use the pay with points option for your selected airline. That is a value of 1.5 cents per Membership Rewards point and the airlines treat it as a cash flight. That means you get to earn frequent flyer miles and status from the booking.
- $200 airline incidental credit per calendar year.
- $200 Dell credit semi-annually.
- $10 monthly credits for cell phone bills
- The $695 annual fee is NOT waived.
The American Express Business Gold Card is a solid card because of the bonus earning category earnings. Here are the welcome offer, card perks, and earning structure.
- There are offers for 90,000 points and a 10,000 authorized user offer out there.
- Get 4X Membership Rewards points on purchases from the 2 categories where you spend the most. 4X earning rate is limited to the first $150,000 of spend.
- Earn 1X on everything else.
- Get 25% of your points back when using Pay With Points for any ticket on your preferred airline or business/first class tickets with other airlines.
- The $295 annual fee is NOT waived.
- Learn More
Bank of America Business Advantage Cash Rewards Mastercard
The Business Advantage Cash Rewards Mastercard from Bank of America is a cash back rewards card with no fee, and the real perks come with being a Preferred Rewards for Business member. Here are the welcome offer, card perks, and earning structure.
- Earn a $300 statement credit after $3,000 in purchases in 90 days.
- Earn 75% more cash back as a Preferred Rewards member, unlocking these earning rates:
- Get 5.25% cash back in the category of your choice and 3.5% cash back on dining for your first $50,000 of spend in these categories
- Earn unlimited 1.75% cash back on everything else.
- 0.0% introductory APR on purchases in the first 9 billing cycles.
- No fee.
- Direct Link
What’s Left? Which Business Cards Count Towards 5/24?
Now that we know which business cards don’t count towards the Chase 5/24 rule, you might wonder what’s left. These banks WILL report your business credit cards to your personal credit report:
- TD Bank
Why does this matter? For one, it affects you 5/24 status. We recently re-evaluated the best Chase cards, and keeping yourself under 5/24 helps give you more options. It also keeps the “new accounts” count down when other banks are evaluating your credit report. Some banks have tight rules for their applications concerning your number of new accounts or new credit inquiries.
Knowing which business cards count towards 5/24 can help guide your strategy. Maybe you’re on ice, trying to get back under 5/24. Maybe you’re under 5/24 and want to take it slow & steady with Chase to avoid a shutdown, but you still see value in other options. This is a way to accomplish both of those things.
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Capital One Venture X Business earns 2X miles on everyday purchases plus up to 10X in bonus categories. You also get access to Capital One lounges plus an annual travel credit & anniversary bonus. Right now you earn bonus_miles_full.
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