Chase rules 🚀🚀 · Credit connector

Jackie Lavielle

May '24 • General discussion

Chase rules 🚀🚀

- Native Currency: UR Points (Ultimate Rewards Points)

- Best Use Cases: Hyatt Hotels! Only one besides BILT that can do it.

2/30 RULE

- Chase will only give you 2 personal cards in a 30-day period, or 1 BUSINESS card in the same 30-day period.

- At most, you could get 1 business card + 1 personal card in that 30-day period.

- You cannot try to do 2 personal + 1 biz, you will get denied.

- It is recommended to wait 90 days between Chase card applications.

NOTORIOUS... 5/24 RULE

- You will get denied for any Chase cards if you have 5 or more personal revolving accounts in a 24-month period.

- However, the 5/24 rule may be relaxed on cobranded cards like Amazon, United, and Southwest cards.

ONE SAPPHIRE RULE

- You cannot hold more than 1 Sapphire card at a time.

- You would need to downgrade your CURRENT Sapphire card to a Freedom card in order to apply again.

48 MONTH RULE

- If you've earned a welcome bonus from a Sapphire card in the past 48 months, you are ineligible for a new Sapphire card.

24 MONTH RULE

- This is the sign-up bonus offer "cooldown period" for any Chase Freedom cards.

APPROVALS

- Chase will match higher sign-up bonuses if you notify them within 90 days of applying.

- Chase will expedite your card approvals with 1-2 day shipping for free, just ask them.

- There's a minimum credit limit of $500 on all Chase cards.

ANNUAL FEES REFUNDED ON YEAR 2 IF YOU DOWNGRADE/CANCEL

- On cards with annual fees, if your annual fee posts and you accidentally forgot to cancel the card, you can usually get it refunded as long as you're within the first 30 days of the new billing year.

- Chase may offer a retention offer to try to keep you as a customer.

CAN YOU HOLD MULTIPLE OF THE SAME CARDS?

- You can technically hold multiple Freedom cards of the same exact type.

- However, you cannot simply apply for the same card multiple times. It must be achieved via downgrade.

MULTIPLE EIN RULE

- You can have multiple lineups of the same credit cards as long as they are separated by different entities.

- You can earn sign-up bonuses on all of them.

"YOU'RE ALREADY APPROVED" LANGUAGE

- Chase shows guaranteed approval language in-app on their offers section.

WHO DO THEY PULL FROM

- Chase almost always pulls from Experian.

- Some people try to freeze Equifax + TransUnion, but it's better to let Chase do their thing.

HOW TO DATA MINE WITH CHASE:

- Open a Chase personal checking account and personal savings account.

- Open a Chase business checking + business savings account.

- Enable direct deposit with Chase.

- Have an authorized user and/or employee card with Chase.

- Open a Roth IRA with Chase.

- Maintain a daily bank rating of $10k or more for 30 days before applying for a CSP card.

CLI's

They offer soft pull CLI's.

- They may grant automatic CLI's based on spend activity. If they don’t give it to you automatically, make sure you call them 90 days prior start making at least five transactions and paying them off.

PRODUCT CHANGES

- Staying within the Freedom + Sapphire lineup gives you maximum flexibility and value.

- You cannot product change a cobranded card to a Chase card.

COBRANDED CARDS

- Airline cards with United + Southwest, Hotel cards with Hyatt, Marriott, IHG hotel partners.

- Consider the personal Hyatt card in the future for its benefits.

MAXIMUM AMOUNT OF CARDS?

- There is no limit to how many Chase credit cards you can hold.

- They will limit the credit they've extended to you.

Backdoor cards

- Chase Sapphire (Plain): $0 annual fee with similar benefits.

- Ritz Carlton Card: Can be requested as a product change from Marriott Bonvoy Boundless.