Alex
If you have any Chase cards or want to get some (which you should) it’s a good idea to be aware of some rules and other tidbits of information. Most notably is the Chase 5/24 rule. Chase will not approve you for any of their credit cards if you have opened more than 5 cards across any bank in a 24 month period. Being an authorized user can also count against the Chase 5/24 rule.
It is important to be aware of this rule so you can plan your credit card applications strategically. Because of this rule, most people like to start by signing up for Chase cards first.
Most business cards won’t be counted towards your Chase 5/24. Capital One, Discover, and TD Bank business cards are the exception and WILL count towards your 5/24.
Chase Bank issues some of our favorite cards so it important to know about the Chase 5/24 rule. You want to take a long, hard look at their cards before you move on to other issuers because once you are over 5/24, Chase will not approve you for their cards until you get under the 5/24 rule.
Affiliate Disclosure: Travel Hacking Mom uses affiliate links. We may receive compensation if you use our links when applying for a credit card at no extra cost to you. This compensation does not impact how or where products appear on this site. Travel Hacking Mom has not reviewed all available credit card offers on this site. Thank you so much if you use our links!
Editorial Note: The editorial content on this site is not provided by credit card issuer. All opinions, reviews, and recommendations are expressed by the author, not the credit card issuer.
If I downgrade a Chase credit card (for example the Chase Sapphire Preferred) to then reapply for the Chase Sapphire Preferred to get the signup bonus again, does that downgrade and/or upgrade count toward the 5/24 rule?
Downgrades and upgrades do NOT count towards your 5/24.