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.