They rejected my application for Chase Sapphire Reserve because I have “too many open accounts” with them..I’m really pissed. I technically have 3 credit cards open with Chase and a handful of other Cards. Does anyone know when I’ll be able to apply again? How do I increase the odds of my application being accepted? Heard that Chase has a “5/24 rule” (if you opened more than five credit card accounts within the past 24 months, you’ll automatically be denied)...is this true? Please help! TC: 190k per year Credit Score: 765
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5/24 rule means if you open more than 5 accounts in 24 months you’ll be auto rejected, NOT accepted (assuming your post is a typo). It’s true. They phased it in a while back and I snuck in a 6th card after they called me but failed to get past it. Are you past 5/24? But the reason given is too many Chase accounts or 5/24
I thought the 5/24 rule was automatic deny, not automatic accept. Interesting, I was thinking of getting this card but have a couple Chase accounts open too. I did hear that it’s best to open this one first before any other Chase cards but too late now for both of us.
😕 need to find out when eligible again
Why are you posting this on Blind?
Wait. You currently have way too many new accounts lol.
5/24 is a well known rule. Do a bit more research before applying to credit cards.
5/24 counts every account , including other banks
Are you churning?
That sucks. I love mine. TC 480k
Be less irresponsible.
Why are you assuming that I’m irresponsible?