How to Check Your 5/24 Status
Of all the restrictions placed on credit card applications, Chase’s 5/24 policy is the most prohibitive. The policy applies to the majority of Chase-issued rewards cards, including crowd favorites like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, and Ink Business Preferred℠ Credit Card, restricting approvals to applicants with less than five new credit card approvals in the previous 24 months. If you’ve received five or more personal cards in the last 24 months, it’s highly unlikely you’ll get approved for another card on Chase’s 5/24 list.
Travel Worth $1,000+ Without Searching for Award Availability
You would need to search far and wide for a better ‘bang-for-buck’ small business rewards card than the Ink Business Preferred℠ Credit Card. The card currently offers the highest available signup bonus of any Ultimate Rewards earning-card, an affordable minimum spend, a modest $95 annual fee, and includes top-value benefits such as cell phone insurance and primary CDW for rental cars used for business rentals.
Chase Cards Not Affected by Tighter Application Restrictions
Chase has strict rules for new credit cards and their associated bonuses, however, there are a few that are exceptions to those rules.