Chase Temporarily Puts 5/24 Rule in Writing on Sapphire Reserve Applications

September 8, 2016, Written By John H. Oldshue
chase sapphire reserve

For a brief time last week, Chase explicitly outlined its “5/24 rule” on the application page for the new Chase Sapphire Reserve card. Under the rewards listing on the first page of the application, Chase said, “You will not be approved for this card if you have opened 5 or more bank cards in the past 24 months.”

Chase has long been rumored to have a 5/24 rule in place, preventing rewards chasers or travel card churners from applying for cards just to earn their sign-up bonuses. Some issuers want to avoid having people apply for cards with the intent of cancelling them before the first annual fee is assessed.

This is the first time the credit card provider has included this criteria in its application, but the mindset has been around for a while. Some industry experts believe Chase will continue to use this guideline in their approval process, even if it is no longer written on the application page.

The Chase Sapphire Reserve card comes with a staggering $450 annual fee, which is enough to scare off most passive travelers. However, the promise of 100,000 bonus points after spending $4,000 in the first three months makes the card appealing to frequent travelers and “churners.” The 5/24 rule wards off the latter group of applicants.

Chase assesses card accounts opened across all banks, not just Chase.



The information contained within this article was accurate as of September 8, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.