The First Credit Card I’m Applying for Once I’m Under Chase’s 5/24 Rule

I’ve opened my fair share of credit cards over the years, but there’s one I really want back in my wallet: the Chase Sapphire Reserve^®.

The only thing standing in my way is Chase’s dreaded 5/24 application rule. I should be under that count in early 2027, and once I’m free of it, here’s why the Chase Sapphire Reserve card will be at the top of my list.

Chase Sapphire Reserve Card Overview

The Chase Sapphire Reserve card first launched in 2016, and it has changed quite a bit since I first applied for it. Back then, the card made a huge splash, largely because of its massive 100,000-point welcome offer.

I applied, earned the bonus offer, and closed the card in 2017. Since then, I’ve kept the Chase Sapphire Preferred^® Card in my wallet because it offered plenty of value for a much more reasonable annual fee.

For a while, I didn’t feel like I was missing much without the Chase Sapphire Reserve card. But after Chase’s latest Sapphire Reserve card overhaul, that has changed:

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Chase Sapphire Reserve^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

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Chase Sapphire Reserve^®

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Welcome Offer

Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.

100,000 points

UP's Offer Valuation*:

$2,000

Annual Fee

$795

APR

19.74% - 28.24% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Excellent

Why We Like This Card

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve^® is one of the best options.

The card combines elite travel benefits and perks like worldwide airport lounge access, with excellent point earning and redemption options. Plus, it offers top-notch travel insurance protections to cover you at home or on the road.

Don’t forget the more than $2,000 in annual credits, which can offset the annual fee!

Pros & Cons

Pros

• 8x points on all Chase Travel purchases
• 5x points on Lyft rides
• 4x points on flights and hotels booked directly

Cons

• $795 annual fee

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Card Highlights

• Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
• Get $3,000 in annual value with Sapphire Reserve.
• Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases.
• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge^® by The Club with two guests. Plus, a statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck^® or NEXUS application.
• Get up to $150 in statement credits from January through June and again from July through December for a maximum of $300 annually when you dine at restaurants part of Sapphire Reserve Exclusive Tables.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
• Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $324 annually.
• Member FDIC

Financial Snapshot

• APR: 19.74% - 28.24% Variable
• Foreign Transaction Fees: None

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Chase Ultimate Rewards

And that’s only part of what the card offers. It also includes a Global Entry, TSA PreCheck, or NEXUS credit, IHG One Rewards Platinum Elite status through 2027, and travel insurance benefits. Now, the card fits my spending habits better than it did a few years ago — even with its hefty $795 annual fee.

Why I Have To Wait Until 2027 To Apply

As much as I’d like to apply for the Chase Sapphire Reserve card right now, Chase’s 5/24 rule is standing in my way.

In simple terms, Chase generally will not approve you for a new card if you’ve opened 5 or more personal credit cards with any bank over the past 24 months. Once one of those accounts becomes more than 2 years old, it no longer counts toward your total.

I’m currently several slots over that limit, but I should fall below 5/24 sometime in early 2027. There are occasional exceptions to the rule, but I’d rather wait until early next year and give myself a better chance of being approved than apply now and hope for the best. Once I’m under the 5/24 limit, there’s still the question of whether I’ll qualify for the card’s welcome offer.

It’s also worth mentioning that Chase recently changed its Sapphire eligibility rules. You can now hold both the Chase Sapphire Preferred card and the Chase Sapphire Reserve card at the same time, so keeping my Chase Sapphire Preferred card shouldn’t stop me from getting the more premium Chase Sapphire Reserve card. However, holding both cards doesn’t necessarily mean you qualify for a welcome offer on each.

That matters in my case because I previously held the Chase Sapphire Reserve card and earned its welcome bonus when it launched in 2016. Fortunately, Chase should tell me during the application process if I’m not eligible for another bonus — before running an official hard credit check.

This pop-up appeared for another Upgraded Points staffer applying for the Chase Sapphire Preferred card recently. If I’m not eligible for the welcome offer on the Chase Sapphire Reserve card, then I should be encountering a similar message:

If that happens, I can stop the application and decide whether getting the card without the bonus still makes sense.

Why I Want the Chase Sapphire Reserve Card More Than Ever

I still think the Chase Sapphire Preferred card is one of the best travel rewards cards around, and it’s the card I recommend to most of my family and friends. But at this point in my life, the refreshed Chase Sapphire Reserve card fits my lifestyle and the way I spend money even better.

I travel often and regularly stay at upscale hotels, so I could easily put the up-to-$500 annual credit for The Edit toward 4- and 5-star hotel stays. It comes as 2 separate $250 credits and requires a prepaid stay of at least 2 nights, but that works perfectly with the types of trips I already book, since I enjoy weekend getaways with my family.

I also eat out or order takeout about a dozen times a month. Since I live in South Florida, I should have plenty of opportunities to use the up-to-$300 annual dining credit at restaurants participating in the Sapphire Reserve Exclusive Tables program.

The other credit fits just as naturally. I buy tickets for concerts or sporting events almost every month, so the up-to-$300 annual StubHub and Viagogo credit would be easy for me to use. I already pay for Apple TV and a Peloton membership, too, making the included Apple subscriptions and up to $120 in annual Peloton credits actual savings for me.

The Chase Sapphire Reserve card would also earn me more points in the long run. It earns 8x points through Chase Travel and 4x on flights and hotels booked directly, compared with 5x and 2x, respectively, on my Chase Sapphire Preferred card.

I wouldn’t take every credit at its full face value, but I’m confident I could use enough of them without changing my habits to justify the $795 annual fee. The Chase Sapphire Preferred card is still the better fit for many travelers, but the Chase Sapphire Reserve card is more my speed right now — and this time, I could see myself keeping it well beyond getting the welcome offer.

Final Thoughts

The refreshed Chase Sapphire Reserve card now fits how I spend money today. I would actually maximize its hotel, dining, Stubhub, Apple, and Peloton credits organically, while its higher earning rates would put more Chase Ultimate Rewards points in my account. That makes the $795 annual fee much easier to stomach.

For now, all I can do is stay patient and avoid opening any more cards until I fall below the 5/24 count. Hopefully, a welcome bonus offer of 100,000 points or more is waiting for me when I get there.