Chase’s 5/24 Rule Explained

Chase’s 5/24 rule is well-known by many, especially those that take on new cards specifically for the sign-up bonuses. Chase’s recent Sapphire Reserve card seems particularly interesting, with 100K bonus points earned after spending $4,000 within the first three months (which could be $1,500 toward travel).

However, Chase’s 5/24 rule is that you will not be approved for their new card if you have opened five or more bank cards within the last 24 months (which includes banks outside of Chase). Although the rule is no longer written on the application, it’s still assumed to be in effect.