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Q: What are the best Chase credit cards?

<p>You can check out our guide,<a href="https://www.allcards.com/chase-credit-cards/"> Chase Credit Cards</a>, to help you make that determination. As a major credit card issuer, Chase has cards in all niches, including sign-on bonuses, rewards, travel cards, business cards, and 0% introductory APR offers.</p>

Question 1

Are there any penalties or consequences for applying for a Chase card even if you’re over 5/24?

Accepted Answer

Based on our research, we could find no monetary penalties put in place by Chase. (But then, they don’t acknowledge the existence of the 5/24 Rule in the first place.) But one potential issue to be aware of is adding another inquiry to your credit report for what will be a predictable application decline. It may only hurt your credit score by a few points, but it’s something to be aware of.

Question 2

Are all Chase cards subject to the 5/24 rule?

Accepted Answer

This is a tough question to answer because we’re trying to identify the cards that are subject to a rule that doesn’t officially exist. Given that reality, it’s best to assume all cards issued by Chase apply to the rule.

Question 3

Will closing an account help with the 5/24 rule?

Accepted Answer

Once again, there’s no official answer to this question because there’s no official rule. But since the limit is five credit cards opened within the past 24 months, it’s likely that closing one of those cards won’t help your cause. In addition, it will reduce your overall credit limit, raising your credit utilization ratio and maybe even lowering your credit score.

Question 4

What are the best Chase credit cards?

Accepted Answer

You can check out our guide, Chase Credit Cards, to help you make that determination. As a major credit card issuer, Chase has cards in all niches, including sign-on bonuses, rewards, travel cards, business cards, and 0% introductory APR offers.

Question 5

How long should I wait to apply for another credit card after being approved?

Accepted Answer

Given that the rule penalizes you at five cards within 24 months, the best strategy is to limit that number to four. That being the case, you should look to open no more than two new credit cards per year, or one about every six months.

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