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Once December hit I was finally cleared for Chase’s “5/24” rule. I had been anxiously waiting for the day when I could finally apply for another Chase card! In November of 2014, I was approved for two credit cards, so once December 1st hit, I was brought down 4 personal credit card applications approved in the past 24 months. I was beyond happy as this then allowed me to a apply for the Chase Sapphire Reserve credit card and sneak in the $300 travel credit in 2016. Related post. As expected, I was approved and that was my 5th approved personal card in the past 24 months.
While I was pretty sure I wouldn’t be approved for any more Chase cards until April 2017 (fortunately I have 3 cards that I applied for in March 2015, so those will fall off soon!), I really really really wanted to apply for the Chase Ink Preferred business card as well. This card has an 80,000 point sign up bonus and some great perks. Related blog post. A few minutes after I was approved for the Chase Sapphire Preferred card, I applied for the Chase Ink Preferred. I wanted to do it on the same day, so I only one hard pull would hit my credit report and not two.
I assumed I’d receive an immediate decline, but was pleasantly surprised when I saw a pending application notification. That is extremely common with business cards since they typically want to find out a little more about the business. Instead of calling the reconsideration line, I just let this one play out on it’s own. I was pretty positive that I’d be receiving an application declined letter in the mail anyways.
Last night, I received a call from Chase regarding my Chase Ink Preferred application. They wanted to know more about the business. The gross annual revenue and profit for the business, the type of business, etc. I answered the questions and after a few minutes was told that I was approved. I must admit, I am pretty shocked. I am not sure if I was pre-approved for this card or if it is because I applied on the exact same day as the Chase Sapphire Reserve and as of that morning I really only had 4 opened cards in the past 24 months. My understanding is that this card does fall within the normal “5/24” rule, so I am not 100% sure how I got around it.
Once I hit the minimum spend I will be 180,000 Ultimate Reward points richer! Anyone else have any experience getting past Chase’s “5/24” rule by applying for multiple cards on the same day? Feel free to comment below with your experience.