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Unless you're new to opening credit cards, you're probably familiar with Chase's 5/24 rule. Put simply, the rule is this: if you've opened five or more personal credit cards across all issuers in the last 24 months, Chase almost certainly will deny your next card application.
Although some cobranded cards used to be exempt from the rule, it now applies to all Chase-issued cards — including business cards (though they won't add to your personal card count if you already have them and are applying for a new personal credit card).
To avoid wasting your five Chase slots or applying for a Chase card only to be denied, you should keep track of your 5/24 standing. Doing so is very easy and doesn't require any complicated spreadsheets.
Credit Karma used to be the most popular service for checking your 5/24 status. Unfortunately, the ability to see this easily on Credit Karma's website and app has disappeared. Therefore, we've updated this guide with the new, fastest way to check your status, which is using Experian's mobile app. And we've included some information on how to make sure you don't inadvertently sign up for Experian's paid membership service.
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Calculating your 5/24 standing
You could use practically any free credit report monitoring service to calculate your standing. While you can do this manually by tediously checking each account, let's save those options for later. First, let's look at the fastest option.
Sort by date with Experian
To start, sign up for a free account with Experian. Setting up your account is an easy process. You'll be asked for some personal information and will need to verify your identity through security questions.
Once you're viewing your credit report, you can view a list of all your accounts — open and closed — sorted alphabetically by bank and credit card issuer on the desktop version of the website.
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Unfortunately, you'll need to click on each account one by one to view the opening dates.
However, the mobile app can make this much easier. Within the app, go to your credit report, click on your accounts, and then select "Views" in the top right corner. From here, you can choose "Date Opened (New to Old)."
In this view, count everything that you opened within the past 24 months.
It's important to note that Chase only looks at whether an account was opened. If you've closed an account that was opened in the last 24 months, it still counts toward your standing. Also, data points suggest that you will need to wait until the first day of the 25th month after your fifth account was opened to actually be below the 5/24 limit — that's an important technicality.
Authorized-user cards from another person's personal credit or charge card will be added to your 5/24 score by Chase's computer systems, as they're reported on your credit report. However, if you're otherwise under 5/24, you can still apply for a Chase card and call the reconsideration line to ask that these accounts not be considered. Also, note that auto loans, student loans and mortgages show up on your credit report but do not count toward your 5/24 number.
Manual methods for checking your 5/24 number
Credit Karma no longer allows for sorting your accounts by the date they were opened. Your free credit report from the three major agencies doesn't offer this ability either. However, you can still establish your 5/24 status by obtaining a free credit report or by clicking on each account within Credit Karma, Experian's desktop browser or other similar credit report trackers.
With Credit Karma, click on one of your accounts and then choose "Report Info" to see more details.
From here, you can see your account opening date.
Another option for viewing your 5/24 status is Travel Freely. You will need to manually enter your credit card details, including when you opened the card. However, this website can alert you to important information, such as a bonus deadline approaching or an annual fee coming up soon. For our purposes, you can also use the site to track your 5/24 status.
However, it's important to note that Travel Freely does not pull your credit report. You need to input this information yourself, which likely requires using your own credit report or asking your bank for account opening dates. If you take the time to put in this information, the website can tell you things like your 5/24 status, annual fee due dates, average account age and which credit cards you aren't eligible for — so you don't waste an application. This information will be based on the info you provide, so make sure you enter it correctly.
What to do if you're under 5/24
Your first plan of action should be to apply for the Chase trifecta, which consists of the Chase Sapphire Reserve, Chase Freedom Unlimited® (or Chase Freedom Flex®) and Ink Business Preferred Credit Card. Using these cards together will allow you to maximize the Ultimate Rewards program and help you make the most of your everyday purchases.
However, the card opportunities don't end there. There are several other Ultimate Rewards points-earning cards, as well as plenty of lucrative cobranded airline and hotel cards worth considering, such as the United Explorer Card and the World of Hyatt Credit Card.
Related: The best ways to use your Chase 5/24 slots
What to do if you're over 5/24
Some points enthusiasts swear by Chase and refuse to apply for other cards when they're over 5/24. That's could be a big mistake. The "opportunity cost" of waiting multiple months to apply for another credit card — in the hopes of picking up a single Chase card, though approval is not guaranteed — is far too high. Plus, it's always a good idea to diversify your earning strategy.
Your options for valuable cards outside of the Chase ecosystem are endless. For instance, American Express has its own trifecta of cards that can unlock a powerful combination of earning rates, welcome offers and perks — The Platinum Card® from American Express, American Express® Gold Card and The Blue Business® Plus Credit Card from American Express. Then there are all of Amex's cobranded cards, such as the Marriott Bonvoy Brilliant® American Express® Card and the Delta SkyMiles® Platinum American Express Card.
And that's before you even consider all of the other issuers out there, such as Bank of America, Capital One and Citi.
Related: The best cards to get after you hit 5/24
Make sure you don't accidentally pay for a service
When I first signed up for a trial period with Experian, I had to enter my credit card number. I set a reminder to cancel before the free trial ended, and I haven't been charged.
That was two years ago. To this day, Experian prompts me to change my membership type every single time I log into the website. This would result in a new trial period with an auto-enrollment feature after the free trial. Without paying attention, you could wind up in a paid plan that costs $14.99 plus tax each month.
When signing up for any service to check your account details, credit report or any other feature you want to use, ensure that you aren't tricked into a paid service if you can get what you need from a free plan.
Bottom line
To maximize Chase's credit-card lineup, you're going to need to be wise about which cards you get and when you apply for them. Calculating your 5/24 standing is easy thanks to free credit report monitoring services like Experian and Credit Karma. If you're over 5/24, don't make the mistake of overlooking cards from other issuers.
For more on Chase's 5/24 rule, see these related articles:
- The Ultimate Guide to Chase's 5/24 Rule
- These business cards can help you stay under Chase's 5/24 rule
- When should you ignore Chase's 5/24 rule?
- How TPG staffers with the most credit cards handle Chase's 5/24 rule
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
