What is Chase 5/24 Rule?


what the heck is chase 5/24 rule if you
research the Chase Sapphire Preferred card I recommended in the last week
video you probably read about chase 5/24 rule let me explain what this rule means
and how to check if you’re under 5/24 hey guys my name is Ramy and welcome to
points pointers my goal for this channel is to help you earn and redeem as many
points as possible in order to upgrade in your travel experiences for little to
no money ok the chase 5/24 rule it basically means
that Chase will not approve you for a card if you applied for five or more
credit cards in the last 24 months this includes credit cards with other banks
as well the 5/24 rule applies to all chase cards
that earn Ultimate Rewards points but it doesn’t apply to some co-branded cards
that they have here’s a list of which cards are affected by the 5/24 rule and
which cards Department here’s the easiest way to check how many credit
cards you have and when you applied for them you’ll need to create a free
account with Credit Karma I highly recommend this website and I’ll
put a link in the description once you log in and you are on the dashboard you
want to click on the credit tab then in the credit age box click on view details
if you scroll down under the credit card section you’ll see they’re arranged from
oldest to newest you can see here that I actually applied for 10 cards in the
last two years it’s important to know that this only displays open accounts so
if you have any canceled credit cards within the last two years you want to
check those somewhere else I personally prefer to maintain an Excel spreadsheet
with all my credit cards and the date I open them and the date I close them
if this is your first time here I would love to have you subscribe because every
week I’m publishing videos on how you can earn a ton of credit card points and
frequent flyer miles that will enable you to travel the world for little to no
money

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