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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.

About the author

  • Aaron Hurd

    Aaron Hurd is a credit card, travel rewards, and loyalty program expert. Over the past 15 years, he has authored over a thousand expert contributions published by leading outlets including WSJ, TIME, Newsweek, Forbes, NerdWallet, The Points Guy, Bankrate, CNET, and many others. He has also served in consulting roles for many of these same outlets, designing content strategy, hiring teams of teams of editors and contributors, developing thought-leadership pieces, and ghost-editing for senior editors. Aaron is well-known in the miles and points community and regularly presents about travel rewards at conferences like the Chicago Seminars and Minnebar. Aaron has enjoyed the game of optimizing credit card rewards since getting his first credit card shortly after he turned 18. He started learning about credit cards and travel rewards from the (now defunct) FatWallet Finance forums and FlyerTalk. He holds more than 40 open credit cards and has first-hand experience with almost every major credit card product.

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