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Yes, you can get approved if you’re at 5/24

Yes, it is possible to get approved for a new Chase card if you are at 5/24. Recently, a few blogs and some posts in Facebook groups and on forums have reported that it is possible to get approved if you have 5 or more new accounts opened in the last 24 months. I’ll admit that I was somewhere between skeptical and cautiously optimistic about this.

My experience this week proves that you can absolutely get approved if you’re at 5/24. Today, I was approved for a new Ink Business Preferred® Credit Card card, one of the cards currently topping our list of the best cash back welcome bonuses. I have opened 5 new personal credit card accounts in the last 24 months (mostly with Chase) and they are all showing on my credit report. Despite being at 5/24, I was approved.

If you’ve been holding off getting a new Chase credit card because of your 5/24 status, it might be time to throw in an application.

How I got approved while at 5/24.

I recently decided that I wanted to pick up the Ink Business Preferred® Credit Card. I have a large estimated tax bill coming due, which will make it trivial to get the card’s best-ever welcome bonus.

And the card is useful to me outside of the welcome bonus—I don’t currently have a credit card that allows me to transfer Ultimate Rewards to transfer partners. Plus, I am planning on significant travel next year, and I want the ability to earn 3x points on my travel purchases and be protected by Chase’s travel insurance protections. I checked my 5/24 status using CreditWise from Capital One and found that I was a few months away from being under 5/24.

Since I’ve seen sporadic reports from Facebook groups and blogs about approvals, despite being at or over 5/24, I decided to try my luck and apply. I figured that the worst thing that could happen would be that I’d have an extra inquiry on my credit report. A minor, temporary hit to my credit score would be no disaster.

After submitting my application, I got the response I more-or-less expected:

My application was not automatically approved and I was going to receive a decision in writing within 7-10 business days. Normally, I would advise calling the reconsideration line, but I held off for a few days. I figured there was no real urgency to call the Chase reconsideration line.

My approval came a few days later

To my surprise, just days later, I received an email with news about my application. I was approved for a new Ink Business Preferred® Credit Card. The card was already in my Chase online account and I was given a reasonably large credit line as well!

I’m a bit surprised that I was approved for this new card, despite being clearly at 5/24. I did double-check with CreditWise today to make sure that I didn’t just miscount the number of new accounts I have. Sure enough, I’m still at 5/24. The news of this somewhat surprising approval

Best advice: Apply and let Chase decide

A year ago, the consensus among those in the know seemed to be that there was no way Chase would approve anyone who was showing 5 or more new accounts on their credit report within the last 24 months. Given my experience, combined sporadic reports of approvals when at or over 5/24, I can say with certainty that it is possible to get approved if you are over 5/24.

As long as you have not been declined by Chase in the very recent past, you probably have a shot at getting approved while over 5/24. If you see a Chase card that you want and are at or over 5/24, apply for the card and let Chase decide if they want to approve you.