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The Chase Sapphire Reserve card is now publicly available. If you are interested, we now have a link on our Best Signup Offers page. With that said, as today day has progressed, we have seen a number of data points that seem to indicate the 5/24 rule is being enforced.
What Is 5/24?
The 5/24 rule is Chase’s way of keeping people from signing up for a lot of credit cards just to get bonuses. Basically, when the rule is enforced, Chase will deny an application if the applicant has opened 5 or more new revolving accounts over the past 24 months.
5/24 Data Points
Reddit has a survey where people can report their data points regarding Sapphire Reserve applications. The data seems to indicate a number of people have been denied for having “too many new accounts”. While many still have their application status as “pending”, it seems those who call in are met with a denial.
Additionally, I looked at many data points from yesterday for in-branch applications and found several people who were denied for the same reason. I have also heard from several readers (including in comments) today who have called and been told they are denied due to “too many new accounts”. All of this data leads me to believe that the 5/24 rule is being enforced for the Chase Sapphire Reserve card. This is of course not something that is publicly confirmed by Chase and there are a few data points of successful applications despite 5/24 as well.
Getting Around The 5/24 Rule
As a reminder, there are a few known ways to get around the 5/24 rule. These methods seemingly also work for the Sapphire Reserve card based on people’s experiences. For more info, see: How to get approved for the Sapphire Reserve 100K offer.
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HI, Do they have a referral program so that I can refer my parents and get more miles once I have the card? Thanks
Not yet. You can do that with the Sapphire Preferred and Freedom cards, but not yet with the Sapphire Reserve. I don’t know if/when they’ll make that available
Data point: 8+/24 with 3 Chase cards & a Chase checking account. I’ve been a customer for 6 years, FICO is 779. Checked pre-approvals in branch, found the Reserve card, got instant approval for 30k.
Approved today with 5/24. Credit score 816. Applied online and received we will notify you within 30 days message. New account with 35k limit showed up on Chase.com within 12 hours. No e-mail notification yet.
Does anyone know if home equity line of credit or mortgage counts against the 5/24 rule?
I read a comment somewhere where the applicant was told a HELOC counted against the 5/24.
No, it’s personal (and Chase business) credit card accounts only.
How do you know that for sure? A HELOC is coded as a revolving line on a credit report just like personal credit cards are.
My wife got declined for 5/24 and said heloc doesn’t count. It’s credit cards
12/24 including 5 Chase cards, do all banking with Chase. Checked to see if I was pre-approved in a branch, and I was. Got instant approval for the card with 29k CL.
Fairly new credit score with 770 (two year old score)
What would be cool is if someone can do data points on prepporved folks like yoy and me to determine how someone got pre-approved. Seems like that’s a burning question in the community.
I’m CPC and had about 12-15/24 (according to Chase), was able to get the CSP in branch when getting denied applying online. Went to branch yesterday to apply for the CSR and got a pending decision. Also applied for the Southwest and UA card while I’m at it. Called 0625 this morning and was told all apps were denied due to too many cards in last 24 months.
Based on the comments above, I can’t figure out why they’d deny some CPCs while letting others through. Oh well…
I applied and got a pending status. Called Recon. I was told 5/24 rule prevented me from getting this card. When I asked what information they had, they said I’ve opened 4 credit cards in the past 24 months, and I’ve been added as an authorized user on 2 accounts. Anyone else with this experience? I haven’t followed the 5/24 debate closely, but I didn’t know being an authorized user counted against me. Bummer.
Yes, Chase has been counting AU cards for some time now. You should be able to call back and tell them that you are not responsible for repaying debts on cards where you are merely an AU. They should only be counting cards opened in your name, and not business cards with banks other than Chase either.
I have 3 chase personal and 3 chase business cards. The business cards totaled $90k over past 12 months. The personal cards less have a few thousand each (most expenses on business cards) except for one card with a $30k purchase that was paid off a few months ago. I applied yesterday and given the wait 7-10 days prompt. I called consideration number last night, stayed on hold 1 hr with no one picking up. Today, I called and it was recommended approved. Because of large credit, they said a senior advisor would review with final decision in 1-2 weeks.
Personal w/in 24 months:
Frontier Airlines
Chase Hyatt
Amex 8/2016
Business w/in 24 months:
Chase Ink Plus
Chase United Biz
Amex Delta
Just applied on-line. Have CSP, Marriott, Hyatt and United Exp. Currently @ 1/24. Instant approval 35k.
A quick clarification about 5/24 – Does 5 only apply to credit cards or any kind of hard pulls. I believe I have a rental application pull and 2 auto loan pulls on my account.
Accounts not inquiries
Went into branch to apply. I got pending decision. Called reconsideration line and was told I was denied due to too many accounts. I wonder how some people got pre approved and others like me, weren’t ?
Nobody knows why some are targeted while others aren’t.
I applied online today and was approved. This is my 5th card in 24 months. The last two times I applied online for a Chase credit card, after applying I got an instant message telling me to call them. When I called I had to answer more questions and move my credit lines around across the different cards I have with Chase. This time I got instant approval online. I did go online yesterday into my Chase account and enter my income information into my profile, but other than that I supplied the same information I always do. Happy I got the card!
went into branch today, was pre-approved and applied for card. Approved, not CPC. Way over 5/24 rule.
Does the Chase Prequal site accurately reflect one’s pre-approval status?
https://www.chase.com/prequalified
Might save a trip to the branch.
It’s not accurate. I checked and didn’t show anything. Went to the branch and was prequalified for the CSR.
Got denied for 5/24 even with CPC. Was not pre-approved.