Here’s How You Can Get a Chase Ink Card, Even if You’re Over 5/24

Chase’s 5/24 rule was implemented several years ago and has since become a well-known quantity within the points and miles world.

It’s not an official policy formally published by the issuer, but data collected over the years indicates its existence. Basically, Chase won’t approve you if you’ve opened 5 or more cards — from any issuer — within the previous 24 months of applying for a new Chase credit card.

For those of us who are always looking for more ways to boost our balances of points and miles, this has proven to be a tricky rule to work around, as it meant missing out on some pretty lucrative Chase Ink bonus offers available on a range of its card products over the years, including the Ink Business Preferred^® Credit Card, Ink Business Cash^® Credit Card, and the Ink Business Unlimited^® Credit Card.

But, there seems to be a way to circumvent this unwritten rule and still be able to take advantage of the welcome offers on Chase credit cards. Today, we’ll take a look at what this strategy looks like.

The Way Around 5/24: Apply for Business Credit Cards

If you’re anything like us and want to take advantage of just about every welcome bonus offer imaginable, you’ll want to pay attention to this section.

Business credit cards do not count toward your personal credit report unless you open business cards issued by Capital One, except the Capital One Spark Cash Plus Card*×Information collected independently. Not reviewed by Capital One., or Discover. This means that if any of your 5/24 “slots” are taken by most business credit cards, you can theoretically be approved for as many Chase products as you have open slots.

So, if you’re technically at or over 5/24 — but 1 or more of those slots are taken by a Chase Ink product — you may still apply for a new Ink product and be approved if you meet the issuer’s criteria.

However, if you’re at or above 5/24 and all of the slots are occupied by consumer cards (or you have some business cards issued by Capital One or Discover), you will most likely be denied if you try applying for an Ink product.

The Loophole Around the Loophole

Despite everything we’ve discussed already, there’s yet another factor to consider when deciding whether or not to apply for an Ink credit card.

Chase has been known to suspend its unwritten 5/24 rule from time to time, particularly around the time in which the issuer has new welcome offers for its Ink cards, like the Ink Business Preferred card.

At the time of writing, we haven’t seen any data points yet to indicate a suspension of 5/24 to accompany rounds of elevated offers on these cards. It may be worth throwing your hat in the ring, even though your credit score may take a slight dip in the interim.

Welcome Offers on the Ink Business Cards

The Ink Business card family are excellent business credit cards that provide solid returns on spending. Here’s a look at the welcome bonus offers:

• Ink Business Preferred card: Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months.
• Ink Business Cash card: Earn $750 $1,000 when you spend $8,000 on purchases in the first 4 months after account opening.
• Ink Business Unlimited card: Earn $750 $1,000 bonus cash-back after you spend $8,000 on purchases in the first 4 months from account opening..

But if you also hold a premium Chase card, such as the Ink Business Preferred card, Chase Sapphire Reserve^®, or Chase Sapphire Preferred^® Card, you can pool your points together to access Chase’s transfer partners, which will yield far more value because you can book luxury travel experiences at a fraction of what they’d typically cost. That’s why we value Chase points at 2.0 cents apiece, meaning you can earn $2,400 (or more!) in value from these bonus points.

However, Chase does have rules in place on whether someone may qualify for the welcome offer on an Ink card. Be sure to review the terms of the card you are interested in before applying.

Final Thoughts

A card in the Ink family of Chase business cards may be very tempting to apply for, especially if you hope to bolster your balance of valuable Chase Ultimate Rewards points.

Chase’s unwritten 5/24 rule makes it complicated to open new cards from the issuer, but there are ways around it — and you can feel free to apply and have a shot at being approved. And if you’re over 5/24, hold out hope that Chase may quietly loosen the 5/24 rule for Ink applications.

As we always say in this business, Your Mileage May Vary (YMMV)!