Credit card 101: all about Chase 5/24 rule

Since May 2015, Chase applied so-called ‘5/24 rule’ to its credit card application: if you have 5 or more new credit card accounts in the past 24 months, you will get rejected directly, no matter how good your credit score is.

  • Details about 5/24 rule.

In the 5/24 policy, the new accounts include ALL the credit cards appeared on your credit report in the past 24 months, which means that credit cards or charge card issued by other banks are included.
Fortunately, the new account that didn’t be added to your credit report does not count. At the situation, Chase can’t see the unreported new card even if it pulls your credit report. For example, American express new accounts are usually reported to credit bureaus after 2 statements. So if you keep more than 5 new cards while those extra cards haven’t been reported, you should hurry up and apply. But this doesn’t work for the new cards approved by Chase itself. Remember, the closed cards that opened within 24 months are also counted.
A ridiculous thing is that Authorized user counts toward the 5 new accounts limit. Sometimes adding an authorized user does not need SSN, but the credit bureau is still able to locate you based on the name, birthday and other information, and add the information of an authorized user to your credit report. So if someone has added you as an authorized user, remember to check your credit report before applying for a new card of Chase. If you get a rejection, when calling reconsider line, you can ask the Customer Service Representative to drop the accounts which you only are an authorized user when counting the number.

  • How to bypass the 5/24 rule?

There are three methods now can bypass 5/24 rule:
In branch pre-approved offer can bypass the 5/24 rule. Note that online pre-approvals don’t work.
Online bank “Your offers” can bypass the 5/24 rule.
A mail offer with an RSVP code can bypass the 5/24 rule.
Chase did NOT apply the 5/24 rule to all of its credit cards. Following are the cards affected by 5/24 rule

  • Cards affected by 5/24 rule.

•Chase Slate
•Chase Freedom
•Chase Freedom Unlimited
•Chase Sapphire Preferred
•Chase Sapphire Reserve
•Chase Marriott
•Chase UA Explorer
•Chase UA Club
•Chase Southwest Plus
•Chase Southwest Premier

Plastiq – Pay Bills With Credit Card


Plastiq is a payment processor that offers the ability to pay any type of bill with a credit (or debit) card for a fee. Payments can be sent to both businesses and individuals. The recipient will receive an electronic payment if they are in Plastiq’s system, or a check delivered by USPS if they are not.


  • Credit card payments (Visa, MasterCard, AmEx, Discover) – 2.5% fee
  • Debit card payments – 1.0% fee
  • Prepaid cards as processed as credit, but can be used on Plastiq
  • Processing fees will be generate their own line item separate from the payment amount on your credit card statement
  • Generous referral program


Plastiq often (not always) requires you to send in a copy of your rental agreement for verification prior to processing your rent payment, or a bill or invoice for paying other bills. If you have roommates, you can offer to pay rent for the whole house or apartment and have your roommates reimburse you directly. Additionally, you can have the payment sent to your address for hand-delivery to the “landlord”, which may provide a creative outlet for some using this service.


Plastiq offers a referral program where the referrer gets $1000 fee-free dollars (FFD) and the new signup receives $500 fee-free dollars after making $500 worth of payments through Plastiq ($1000 and $500 worth of free payment processing without the 2.5% fee). There is no cap on the amount of FFD you can earn through referrals.

Please consider using our referral link to receive your $500 fee-free dollars.

Credit Card 101: How to get free credit reports and scores?

Credit score and report are the dominated factors in getting approved for a credit card, it’s necessary for cardholders to pay close attention to these items. There are three official credit bureaus in the US: Experian, Equifax and TransUnion. Once a bank receives an application for a credit card, it will pull a credit report from one or more of these bureaus to decide whether or not to approve you. There are some free method to get credit report or credit score: