5 Great Credit Cards That Aren’t Subjected To The “5/24 Rule”

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As many of you may know, since earlier this year Chase has expanded what’s commonly referred to as “the 5/24 rule,” which means that they generally won’t approve you for a card if you’ve opened more than five new card accounts in the past 24 months. This is more a general guideline than a strict rule, though:

With that in mind, there’s often some confusion about which cards the 5/24 rule generally applies to, and which cards it doesn’t generally apply to. So in this post I wanted to share five great Chase credit cards that the 5/24 rule doesn’t apply to, at least anecdotally:

IHG® Rewards Club Select Credit Card

Sign-up bonus: Earn 60,000 bonus points after you spend $1,000 on purchases within three months
Annual fee: $0 introductory annual fee the first year, then $49

The single biggest benefit of this card is that it offers an annual free night certificate at any IHG property in the world on your account anniversary. That’s incredible, given that this is also the hotel credit card that has among the lowest annual fees. There are no category restrictions on the free nights.

Furthermore, the card offers IHG Rewards Club Platinum status for as long as you have the card, plus a 10% refund when you redeem points, for a total of up to 100,000 refunded points per year.

intercontinental-bora-bora-4009878877-4x3
Redeem your annual free night certificate at the InterContinental Bora Bora

The Ritz-Carlton Rewards® Credit Card

Sign-up bonus: Earn 3 complimentary nights at any participating Tier 1-4 Ritz-Carlton hotel after spending $5,000 on purchases within three months, plus 10,000 bonus points after adding an authorized user and having them make a purchase within that same time period
Annual fee: $450

While this card has the highest annual fee of any cards listed here, it also has the most benefits. The card offers a $300 annual travel credit, Ritz-Carlton Gold status (which is also valuable at Marriott properties), a $100 domestic companion airfare benefit, three Ritz-Carlton club upgrades per year, etc.

The $300 annual travel credit is based on a calendar year, meaning that before you pay your second year’s annual fee you should have access to two of these credits.

There are so many fantastic properties at which you can redeem those Ritz-Carlton complimentary nights.

Ritz-Carlton-Half-Moon-Bay
Redeem your three complimentary nights for a weekend getaway to Half Moon Bay

The Hyatt Credit Card

Sign-up bonus: Two free nights at any Hyatt property after spending $2,000 within three months
Annual fee: $75

This card offers two free nights that can be redeemed at any Hyatt property, including hotels like the Park Hyatt Sydney, Park Hyatt Maldives, etc.

On top of that, the card offers a complimentary annual night certificate valid at any Category 1-4 property, which for most people should more than offset the annual fee. The card also offers Gold Passport Platinum status, and when Hyatt’s program switches over to World of Hyatt in March, it will come with Discoverist status.

Park-Hyatt-Maldives-3
Redeem your two free nights at the Park Hyatt Maldives

Fairmont Visa Signature Credit Card

Sign-up bonus: Two complimentary nights at any Fairmont property after spending $3,000 on purchases within three months
Annual fee: $0 introductory annual fee the first year, then $95

While this is more of a niche card, Fairmont has some fantastic hotels, so it’s great to be able to earn two free nights at any of their properties. In addition to the sign-up bonus, the card offers an annul complimentary night certificate when you spend $12,000 on the card in a year.

Lastly, the card offers Premier status for as long as you have the card. If you’re already a Premier member when you apply for the card, you get an annual Fairmont Gold upgrade certificate.

fairmont-pacific-rim
Redeem your two free nights at the Fairmont Pacific Rim

British Airways Visa Signature® Card

Sign-up bonus: Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months from account opening. Earn an additional 25,000 bonus Avios after you spend $10,000 total on purchases within your first year of account opening for a total of 75,000 bonus Avios. Earn a further 25,000 bonus Avios after you spend $20,000 total on purchases within your first year from account opening for a total of 100,000 bonus Avios.
Annual fee: $95

Avios are incredibly useful for shorthaul travel, given their distance based award chart. Avios can efficiently be redeemed for travel on Alaska and American on domestic flights.

On top of that, the card offers a Travel Together ticket when you spend $30,000 on the card per year. With this voucher you can have a companion fly with you on a British Airways award ticket, and they just have to pay the carrier imposed surcharges and fees, and not the actual Avios (though those fees can be high).

British-Airways-A380-First-Class
Use your Travel Together voucher for British Airways first class

Bottom line

There are a lot of great Chase cards you’re potentially eligible for, even if you’ve opened more than five new card accounts in the past 24 months.

Of the above cards, I personally think the IHG® Rewards Club Select Credit Card offers the most outsized value long term, given the low annual fee and annual free night certificate. The Ritz-Carlton Rewards® Credit Card has a great increased sign-up bonus, and offers so many perks that make the card a keeper. The Hyatt Credit Card and Fairmont Visa Signature Credit Card also have great sign-up bonuses and can be worth holding onto long term.


Non-Affiliate Product Disclaimer: The information for the Fairmont Visa Signature® Card has been collected independently by One Mile At A Time. The card details on this page have not been reviewed or provided by the card issuer.

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Comments

  1. This might be a dumb question. You say that you can open these cards after you have already opened 5 or more cards in the last 24 months. Does it work the other way as well? If 5 new cards include one or more of these, can you also apply and get approved for the Chase Sapphire for example?

  2. If you had one if these cards before (or have one now and cancel it), how long do you have to wait to requalify for the sign up bonus?

  3. @rico, not dumb at all. I was planning on asking the same question. I’ve got a few months to wait before CSR, so I certainly won’t be applying for any of these just because I can.

  4. @Conway check the specific terms of each offer, but generally with Chase you must wait 2 years after receiving the bonus*, and the previous card must be closed.

    *This will be later than the date you actually opened the previous card.

  5. I’ve read in the blog that sometimes the rule was not universally applied so I was curious because I already met the 5/24 rule. I went to Chase branch a couple of months ago to inquire about CSR. When the agent told me I was pre-approved, I told her that might’ve been a mistake since I already had met the 5/24 rule. She said she never heard of the rule.

    If you’re a already a Chase customer, maybe it’s worth just going to the branch and ask.

  6. @Dani: just b/c someone in the bank hasn’t heard of it…it is indeed live and well. Also, PLENTY of stories of those receiving “pre-approval” only to be denied for 5/24. If you keep wishing, you’ll only be disappointed.

    As an anecdote concerning CSRs are not created equal. I went to cancel a CC and wasn’t given the scripted “we value your business, can we do X for you…do you realize you’ll lose Y points upon closing this acct. in 30 days etc…”. To be brief, the CSR did none of those and just popped on and said “closed” thank you. Not a “can I assist you w/ anything else” or any of the other many inane things they are required to ask/know about.

    In short…there is a reason HUCA is a thing.

  7. I have been reading mixed reports on the Marriott business card. Does anyone know definitively if it is subject to 5/24 or not?

  8. I was also denied the Chase Sapphire card. My question is, if you closed one of the five cards that was opened in the last two years with that still be counted? I have an account at another bank and they automatically issued me a credit card, that I never even activated. Then they issued another one when they went to the chip card. That counted as two of my five, even though I never had a charge put on those two credit cards

  9. I was also told it out to Chase branch that business cards will also be denied under the 5/24 rule

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