Chase Extends 5/24 Rule to Credit Limit Increases

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Chase is well known among credit card insiders for its 5/24 rule. The Chase 5/24 rule formerly only applied to new credit cards, but the card issuer appears to be changing this policy due to the coronavirus. Here’s what you need to know about the Chase 5/24 rule, and how it might now affect credit limit increases.

The Chase 5/24 Rule

The Chase 5/24 rule states that Chase won’t approve new credit card applications for those who have opened five or more new bank cards within the past 24 months (two years). This rule applies to new card accounts from any bank – not just Chase. The rule also applies to those who are authorized users on another’s credit card account.

Chase Extending 5/4 Rule to Credit Limit Increase Requests

According to popular credit insider site, Doctor of Credit, current Chase cardholders are reporting that the 5/24 rule now applies to credit limit increases, too. When asking for credit limit increases, cardholders have been told by Chase that their request was denied due to “too many credit cards opened in the last two years associated” with them.

The COVID-19 pandemic is seeing banks and other credit card issuers crack down on credit limit increases. Many banks are also quietly lowering the credit limits for current cardholders – often without notice.

Chase extending the 5/24 rule to include credit limit increases is another example of card issuers and lenders showing concerns due to the ongoing pandemic. Whether the credit increase addition is a hard rule going forward, or if it is a temporary situation during COVID-19, remains to be seen.

How to Avoid the 5/24 Rule

Because the 5/24 rule can limit the chances of landing a new Chase credit card – like the Chase Freedom or Chase Sapphire Preferred – there are steps you can take to bypass the rule.

If you are a small business owner, applying for a business credit card often won’t result in an inquiry on your personal credit report. The exceptions to this workaround are Capital One and TD Bank, who do note business credit card applications on individual credit reports.

Applying for multiple credit cards on the same day can also help you bypass the 5/24 rule. Many lenders combine multiple credit applications on the same day into one hard inquiry. This process can allow you to open multiple new accounts but without several hits to your credit score.

Related Article: Increase Your Credit Card Approval Odds During COVID-19


About: Cory
Cory Santos

Cory is's "Jack of all trades" and resident credit expert, covering all facets of the credit card space. Cory holds academic degrees in both the U.S. and U.K. In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day.

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