The Chase 5/24 Rule Explained | Everything You Need to Know (2022)

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Timeline
0:00 Start Here
0:40 What is Chase 5/24
3:58 FAQ
6:24 Why Does Chase 5/24 Matter?
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Опубликовано:

7 июл 2024

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Комментарии : 227

@zerohecks4864 2 года назад

Everything is going up. Chase, how about making it 6/24?

@AskSebby 2 года назад

😂

@marcusrick3928 2 года назад

Yes please 😩

@ABABABABABABABABABABABABAB 2 года назад

they would do the opposite and make it a 4/24

@travonetaylor3671 2 года назад

😆

@nurtilekorunbekov5082 Год назад

12/24 to be more precise 😅

@Tuki89 2 года назад

I thought that “5” was solely Chase cards… hmmm ok learned something new today

@ugoeze7360 2 года назад

Chase is missing the marketing goldmine that is 7/24

@docluv14 2 года назад

Great Video Sebby! This information was really helpful 👍🏼

@Roaming.Pixels 2 года назад

I was declined by Chase for Southwest Priority card as I already got 6 cards in 24 months, among which 2 were by Chase in past 12 months. I called reconsideration line and asked to move excess credit from my Prime Card to Southwest Card to get approved, and dang... I got approved!! Even with 6/24 😎

@zacharydingo 2 года назад

Thank you, as always, Sebby

@Azar_Cruz 2 года назад

Thanks for the information Sebby

@dwalker6868 2 года назад

Thank you for the information

@MarkReese 2 года назад

I’m getting under 5/24 NO MATTER WHAT 😆

@AskSebby 2 года назад

Ha! How long until then?

@MarkReese 2 года назад

@@AskSebby - About 2 months 😬

@ryansebers396 2 года назад

The Mark Reese 5/24 bypass -> product change that Boundless, it’s Ritz time

@MarkReese 2 года назад

@@ryansebers396 - Oh yeah 😎👊

@johne2721 2 года назад

Awesome video, thanks.

@be_obee9024 2 года назад

Another great video & lesson.

@Daniel_Braun 2 года назад

I’m very excited to be back under 5/24 right now! Great informational video here Sebby 👍

@sjg6158 2 года назад

What's your next card of interest Dan?

@Daniel_Braun 2 года назад

@@sjg6158 Gonna be the Chase Business Ink Unlimited most likely!

@JacksonWelch 2 года назад

I am 2 weeks away from being under 5/24. Cannot wait to get the CSP!

@AP-sm2uq 2 года назад

just got approved for the CSP yesterday ! Gonna keep it for about 3-4 months then apply for AmexGold 👍🏾

@joseaguayo7645 2 года назад

Got approved last week and it just got here in the mail today!

@BWDuty605 2 года назад

"Even if they are closed" is definitely something to keep in mind. I recently closed a few newer accounts that I don't use since I already have many accounts that are several years old, but I'm still not eligible due to the 5/24. I've been holding off on new cards (except for that new Wells Fargo Active cash due to the bonus and I kind of wanted a Wells Fargo), but I'm looking forward to starting a relationship with Chase when I'm eligible. You saved me a hard inquiry because I never even considered that closed accounts would be factored into the rule.

@davidgantt7332 2 года назад

Sebby ROCKS!!!!! I was not sure if a CHASE business or retail card should be my first in Feb 2022 but this great video told me business card first then in june the FLEX or UNLIMITED :)

@tedk9144 Год назад

If you ask a Chase Banker "What is 5/24 and they answer 'Um, about .208333' know that they are from the finance department and did the division! Awesome channel Sebby! A great and clear explanation of the Chase 5/24 rule. Subbed and thumbs up!

@cjjunkee8602 2 года назад

Great vids Sebby, Thank you!!! Learn something new every time I watch AskSebby. In other words, get all 5 or 6 Chase cards first then the rest...I would do it in this order....CFU, CFF, CSP/CSR, CIC, CIU, CIP, then you'll still be 3/24

@docsays 2 года назад

Me: Im feeling lucky today! Sebby: Chase's algorithm will reject you!

@BBQXXX69 2 года назад

Sebby with the call out! Love it! But for real, thank you!

@JonathanSorunke 2 года назад

I just got out of 5/24. I kinda wish I got the CSP before that. Great video!

@AxiomaticPro 2 года назад

Darn Chase for keeping me responsible with my new accounts. The rule certainly makes me more strategic while chasing bonuses

@sudhisira 2 года назад

Good video. Answered my questions about the role that mortgage and other loans etc., play in 5/24.

@jomama55ful 2 года назад

I learned about this from Sebby right after I had exceeded the 5/24 rule in 2019, when I was rejected by Chase. I waited patiently, and just got the Chase Freedom Unlimited (1st one in the trifecta). I'm on my way. Thanks Sebby!

@mikegoodwin2386 2 года назад

I got a Freedom Flex, my first Chase card, in May. That was #5 in my 5/24. Actually I was about 5/6. So it'll be a while before I can get another Chase card.

@fbx03 2 года назад

How long after the rejection did you wait to reapply?

@jomama55ful 2 года назад

@@fbx03 I waited until I had cleared the 5/24 rule. when my anniversary date of maturity came (dropping below 5 cards, I reapplied about 30 days after to let the reporting agencies catch up.

@kimberlysmith3784 2 года назад

Thank you, Thank you , Thank you

@digitalmangos 2 года назад

Haven’t logged in like forever. Digging the new background.

@amypriest7751 2 года назад

After learning about the benefits of the Ritz Carlton card I decided to get under 5/24. I plan to apply for the Boundless card and then (hopefully) product change in a year.

@wongchester2005 2 года назад

Applied with paper application for CIP with a business banker. Over 5/24. Approved for 100k bonus

@Arabsummer 2 года назад

I like you, the way you talk and explain.

@tacticoolalan368 2 года назад

1/24-CFF 2/24-CSR 3/24-Boundless 4/24-SW Priority Then I will try and MDD the new Aeroplan MC and one of the United Cards after I go through a couple Chase Biz cards.

@stuckhere14 2 года назад

I'll be testing the line of credit next month. I have one with a local credit union and on two reports it's listed as a loan, but for the other it's a credit card.

@JacobKustra 2 года назад

Excellent video explaining this! I am currently at 4/24 and going to be completing my trifecta with Chase soon! I absolutely can't wait!

@newsnowadirondacksredux360 2 года назад

Chase questioned me about a Toyota car loan 14 months ago when I applied for a Business card.

@kjkyser Год назад

I currently have 4 credit cards. 2 Capital One cards, 1 Discover and 1 Amazon Store card. I plan to get a Chase Freedom Unlimited next, followed by an Amex. Thanks for confirming some thoughts I had.

@justinmoore7661 2 года назад

Hey Sebby! Data point: I was just instantly approved for a United Explorer card at 9/24. They must be relaxing the 5/24 rule for some cobranded cards. But I hear mixed outcomes. YMMV

@Arabsummer 2 года назад

Amazon Prime too and the SW card. Does not apply.

@a_peter_johnson 2 года назад

I was fortunate to get the Chase Sapphire Preferred and United Explorer before reaching 5/24 years ago. I'm currently in "gardening" mode until I close on my house (new construction), bu which point I should be out of 5/24 again! 😉

@callmeNeno 2 года назад

I had no choice but to go with other insurers due to a "thin file" and less than 1 year of credit history in my pocket I could not get chase card early in my credit journey. Now, waiting to be under 5/24 until this December 2021 when all my injuries will fall off and finally I will be 2/24.

@joemama69448 2 года назад

I got all my chase cards first, now I'm going LOL/24 and P2 is picking up the Chase cards.

@jrwildernessExplorers 2 года назад

I will finally be under 5/24 in November, but i already hold 7 chase cards (Business & personal). I really want to pick up a Hyatt card, but gunshuy to apply with chase. My last call took several reconsideration calls and a credit limit transfer.

@deathward990 2 года назад

Hey Sebby, Long time fan. I just wanted to correct you, it's just not 5/24 credit accounts but also Car leases. Chase rejected me on Flex after me having 4 credit cards opened in the last 24 months and also 1 car lease. I had applied for Flex which was my 3rd card with Chase along with Freedom and CSR. I wasn't rejected immediately, I got a 30-day message and then got rejected for too many new accounts. Just a heads up for others like my position.

@stephen-finance 2 года назад

I didn't know this! Thanks for teaching me something new!

@LalitDevraj 2 года назад

For me, its the Hyatt and United cards, and the Chase Ink Preferred and Chase Ink Unlimited - amazing video as always Love how you're like THE professor answering FAQs and it being a lesson all throughout 😁

@AskSebby 2 года назад

Thank you :)

@docsays 2 года назад

- as a college professor, i concur! excellent class, i mean video!

@piere212 2 года назад

I know for a fact that I'm WAY over 5/24. I actually just downgraded the CSR to the CFU a few weeks ago. I applied to the CSP yesterday and not only was it approved, I didn't have to shuffle around my credit lines like I did 5 years ago with the CSR.

@YairSandoval-xp4qm Год назад

5/24 still a rule I’m at 6/24 and wasn’t approved, will call the reconsideration line once I get my letter 📩

@TheAudioCzar 2 года назад

Does chase send out pre selected offers if your over 5/24? I just got a offer for a CSR but I'm pretty sure I'm at 5/24 right now

@MannyCovington 2 года назад

I’m gonna be at 4/24 in October and I already have my Chase Ink Cash application pretty much filled out.😂

@yankeesgiants221 2 года назад

Thanks, Sebby, for reviewing 5/24 for the newbies in this game. I already liked the video before I even watched it 😁. Sharing this to The Credit Society and will make sure they like and subscribe.

@AskSebby 2 года назад

Thanks! :)

@SuperSaverPlays 2 года назад

The only reason I got the Apple Card was because it’s a really pretty card….now I’m all out of luck for that sweet intro bonus from sapphire preferred….

@Rolo555 2 года назад

Currently at 2/24. I’m waiting for the World of Hyatt to have a good sign up bonus.

@TriniMiss06 2 года назад

Many retailers offer pay in 4 plans (Afterpay/Klarna/Paypal etc) during checkout. Do those count as financing?

@yojalata 2 года назад

Hello! What about getting the just for you offers while being over 5/24?

@docsays 2 года назад

Ok this vid was been super helpful. i've had to change my strategy. im currently 7/24. so i'm going to apply for only business cards after i close on my house next month. I'll be down to 3/24 by may 2022. Then i'll revisit chase.

@mrgiovanny 2 года назад

⭐⭐⭐⭐⭐100, 000 Reviews Question Sebby. Does asking for a credit limit increase on Chase Credit Cards affect 5/24? I heard it does. Thank you Sebby :)

@saraifamily5952 2 года назад

But I was over 5/24 more like 10/24 and chase said if you apply with a business account manager not a business banker. They can bypass it and even let you request the amount you want on your card I wish I knew this sooner I could apply for more chase bus while waiting for my 5/24 to free up. If you want to see proof that it works I’m glad to show

@GthmDrknght 2 года назад

iT’s PASSIVE AGGRESSIVE Avenger 😂 nope great video

@haydensmith7549 2 года назад

Hopefully the Preferred offer of 100k points stays until November, 4 year anniversary from my CSR opening. CSR has been very mediocre in my experience. Boundless has been disappointing as well, debating on that Amex Hilton top tier card - thing is a monster!

@GreenBeats11 2 года назад

I will be at 4/24 in 3 weeks but I already have the CF, CFU, CFF, and CSP so I am pretty much done with Chase because I don't have any side businesses and I rarely travel even before Covid (1-2 flights per year, if that). Thanks Sebby for the guidance through the Chase garden and looking forward to my end game (currently a low-medium spender).

@Catclub0402 2 года назад

0/24 due to mortgage , can’t wait to try to get companion pass

@idontknooo188 2 года назад

Can you talk about wells Fargo active cash card?

@yukidorkins986 Год назад

Do you have any videos about wells cargo credit cards ?

@hkortam2814 2 года назад

Does adding card as authorized user affect 524?

@CrazedSorce 2 года назад

I'm under 5/24, but I'm still gardening until enough time passes for another Sapphire sign-up bonus.

@amirmoradi9595 2 года назад

Does anyone know if Barclays business cards report to personal credit?

@EODnamvet 2 года назад

You said you made a calculator (at 01:53) "with a link down below." Where is it?

@ernest1091 2 года назад

If I apply today for preferred becoming 5/24 is there a way to apply the next day for the Hyatt card also making it 6/24 hoping it didn't hit my credit report yet?

@TrumpetGapper 2 года назад

Where is the link to the calculator you referenced? TIA

@andrewgore6074 2 года назад

SEBBY FOR THE PEOPLE 2024

@AskSebby 2 года назад

😎

@craneman1395 2 года назад

Do personal loans count towards 5/24?

@johnmiller998 2 года назад

If I have two Chase Marriott cards do I earn 15 or 30 elite night credits toward higher status?

@JimmyT89 2 года назад

Can I apply for another 5 cards after the first 5/24? Is that possible?

@Katrina-us4ux 2 года назад

Chase pre qualified page is gone and more and more people are getting approved at 6/24, 7/24 and even 8/24……

@flashlightfreek 2 года назад

Hi man, I'm considering getting the Flex or CSP- I probably would not hit or want to spend that much to get the welcome bonus for the CSP right now. I have one more inquiry for a new card then I'm over 5/24. I like cash back and I could wait on traveling for the next two years. I have Chase Freedom Unlimited and Amazon prime rewards card too. I Some Amex cards too- the BCP. You said something about downgrading the CSP to flex after the first year or so I don't want to choose the wrong card then wait two years to continue with Chase. Thank you so much for any response man!!! Means a lot ☺️😁

@Th33Vultur3 2 года назад

Does it include external accounts not from Chase?

@LooseJointhiphopdance 2 года назад

Hey Sebby. I just opened 3 chase accounts. 1 personal checking , personal saving and 1 business checking. The sales rep that helped me to open my accounts suggested that I apply for the chase business Ink. He said, I was pre approved but he couldn't confirm if getting the business card before applying for the personal card wouldn't affect my 5/24. I only have 2 personal cards. I do need to start my business credit history and purchase operating equipment but my current credit card utilization is about 5,000.00 which is roughly 18%. I held held off on apply for the business ink until i lower my utilization to about 8 %. Curious as to what your thoughts are in my situation. Thanks

@TravelBossNas 2 года назад

Whoa I got a new car too and have the saffire reserved and would like to know about free upgrades to first class. I don’t feel you explained that.

@arjayjalmaani 2 года назад

Is the BlockFi credit card part of 5/24? I have it but don't see it in my credit reports.

@jayredsantiago2200 Год назад

So Affirm counts?

@andystrausberger2519 2 года назад

Is it less likely to get approved for a chase business card if you are at 4/24?

@anasryadi8545 2 года назад

If I'm under 5/24 and I have an amazon prime chase card that I don't care about keeping. Can I changing it to Bonvoy boundless or Hyatt and still get the sign up bonus?

@adrianvarnadore3091 2 года назад

How long should I wait to apply for a CSP if I just got an AMEX Gold? I have only one other card, CO Quicksilver that I’ve had for almost 2 years. I’m trying to build my credit (it’s 710 and won’t move. I’d like to get it up to at least 740 in the next 6 months). Advice? I probably should have tried for CSP first, but was afraid I’d get denied.

@michaelstatia4493 2 года назад

Ironically my banker told me about 5/24 when I opened my second cc with chase

@koreypaul6698 2 года назад

Oh wow! Must be a subscriber

@stephen-finance 2 года назад

Wow, 5 in two years isn't that much really. Glad it doesn't affect other lines of credit though.

@SolidLiquidFox 2 года назад

Vintage Sebby

@AskSebby 2 года назад

😎

@stickbthe1 2 года назад

Hey Sebby, hoping you can help me out with this. I am an authorized user on two chase cards and have three chase cards of my own so I'm technically at the 5/24 limit. I applied for the Sapphire Preferred, got rejected, and called the reconsideration line (on 9/15/21). The person on the phone told me that since the rules say too many cards ASSOCIATED with me, and not too many cards opened by me personally, authorized user cards count towards the rule and he would not appeal my rejection.

@Prizelife Год назад

Does a line of Credit count towards the 5/24?

@jaylenholliday1799 2 года назад

What is the time frame for a account being new or not

@shawnzubrzycki 2 года назад

Do Authorized user cards don't count againt 5/24?

@danielsueros8166 2 года назад

Honeslty chase is losing money, I just stopped using chase credit cards for that reason I wanted to get a couple more but keep getting rejected. Just applied for the gold American Express card, delta platinum sky miles and Hilton honors surpass and was approved within minutes. I’ll be suing the American Express cards for a while now

@jerrybenzl8843 2 года назад

AMEX is superior anyway.

@alfonsolopez8907 2 года назад

I have one 5/24 chase slot. Unsure to apply for a chase card rn either Hyatt, IHG, British airways chase card, or CFF. My next slot would open until June 2022. I have a lot spending coming in the next 2 months. I’ve seen many credit card gurus say through go all chase cards first before citi or Amex. I currently hold the CF, CFU, and CSP. The citi premier looks like a very good option also! Or should I not apply for a credit card at all? Feel free to comment and leave suggestions.

@dmarioisajerk 2 года назад

What if they extend an offer for you to apply?

@IAmMzJess 2 года назад

Do you mean "Credit cards" only or any revolving accounts opened in the last 24 months?

@LeShayLynn Год назад

Does care credit count towards Chase 5/24 rule?

@jimson172 2 года назад

I think I've almost reached 48 months for my CSR clock, but how do I know for sure when I'm there?

@michaelreid8857 2 года назад

E Very easy, look at your credit report!

@JoshTC2 2 года назад

So if I add an AU to my discover card, it adds to my 5/24 count?

@joseaguayo7645 2 года назад

I got approved for the CSP 5 days ago but it’s my 5th card. I want the the Freedom Flex and don’t want to wait? Youre saying I can bypass the 5/24 rule if I apply now before it shows up on my report?

@davidhensey2000 Год назад

I just got approved for freedom flex and I was at 5/24. I had applied previously for Tomo and capitol one secured card in September 2021 Apple and freedom unlimited in March 2022 Amazon visa in June 2022 Applied for freedom flex today and was approved with $2500 limit which is the lowest among all my chase cards with the other two being $5000 and $4800 When I applied for Amazon in June, I asked private client banker about when should I apply for freedom flex and she told me to apply in 1-3 months. I was denied each time initially when I applied for every chase card and immediately called the reconsideration line and was approved every time. I am chase private client with no debt, but mediocre credit around 650. A parent screwed it up when I was younger. And have about 3-4 years till negative marks are removed.

@figfig6289 2 года назад

Will the product change that will occur for the Barclay’s Uber card close the old card and open a new card?(changing my 5/24 status)

@docsays 2 года назад

it shouldnt, as long as they keep the same account #.

@1UpMango 2 года назад

Why is "Discover" in 2:07 censored?

@SinCityGT3 2 года назад

Chase let me exceeded this. They initially approved, then I checked the mail and I had one letter saying they closed the account, and another saying they decided to keep the account on open. I spend six figures a year on chase credit cards, maybe they make exceptions for people who spend a lot?

@royjewell362 Год назад

Does anyone know if this includes authorized users? I am right at (5) because I was added as an authorized user. TIA

@andrezinho176 2 года назад

I applied for the Chase Flex the other day cause I was finally under 5/24. Or so I thought. I forgot I closed an account after the annual fee came through. I’m now 5/24 and need to wait another month to open a new account :(

@rajdixit1605 2 года назад

I have the Bonvoy Boundless Visa and that's the only Chase card I need. Not too interested in Ultimate Rewards; I have cast my lot with Am Ex Membership Rewards. Southwest and Hyatt as transfer partners would be nice, but I am loyal to American and Marriott, so I focus my attention on them. I do fly Southwest if I am not on AA, but I can use my Am Ex Platinum for that (5x on airfare booked direct with the airline). Also not thrilled about these unwritten rules like 5/24 - as long as my credit score and history are good, why would they care? OK, if I opened 5 cards in the last 5 months, they could reasonably be suspicious that I am planning to max them out and flee the country - but 5 cards in 2 years isn't unreasonable for a person with good income. Just my 2 cents. I realize the value of the Chase trifecta (or even quartet) and if that's your goal, go for it, as it can reap tremendous benefits. However, I don't think it's right for me. Love this channel and all the videos!