How many chase credit cards can I have? Find out how many Chase business cards you may acquire and how frequently you should apply. I want to get the most out of my company spending, therefore I use credit cards with rewards programs.
Some of the best business credit cards are offered by Chase, as you may already be aware (as well as an amazing rewards program with Chase Ultimate Rewards). And if you can’t decide, you may have pondered applying for many cards from the same firm. In terms of the number of card accounts, though, how many can you have with Chase simultaneously?
You may have heard of the company’s unofficial 5/24 policy, which implies that you may be refused if you’ve signed up for five or more new credit cards in the past 24 months. Despite this “regulation”, it has been reported that persons have been approved.
So, what gives? Let’s take a closer look and see.
Can I have many Chase business cards?
There’s no hard restriction on the number of Ink business cards you may have. As many as three Chase business cards have been successfully obtained by certain users despite having at least one personal card open.
A limit on the amount of money Chase is willing to lend might harm your chances of getting approved. Asking to cut the credit limits on current business cards may be more successful if Chase provides a $20,000 total credit limit, for instance.
In addition to your income and credit history, the overall amount of credit you’re accepted for depends on a variety of personal and business-related criteria. If your application for a Chase business card has been rejected, you can appeal the decision by calling the company’s reconsideration line. Being pleasant and stating your reasons for wanting a new business card, even if you already have a few, may go a long way.
Chase’s 5/24 policy
Let us now turn our attention to the 5/24 rule of Chase. If you’ve opened five or more new credit cards in the preceding 24 months, even if they were from separate credit card issuers and even if you have an exceptional credit score, you may be automatically declined, even if you have good credit.
You may have problems acquiring a new Chase credit card if you have just been authorized for two Discover cards, a Capital One card, and two personal Chase credit cards since you have exceeded the 5/24 restriction. Good news, though. According to various reports, many Chase and other card issuers’ business cards may not count toward your 5/24 limit.
To be authorized for a Chase business card, you’ll most likely need to be under the 5/24 rule.
It’s possible to get a Chase Ink card even if you’ve opened four credit cards in the previous two years—and that new card may not be counted against your total number of credit cards.
How often to apply for Chase business cards
You should also be aware of the unofficial Chase 1/30 rule, which states that if you’ve applied for a Chase business credit card within the past 30 days, you’re unlikely to be accepted.
While there are always exceptions to the norm, it’s best to spread out your credit card applications across a few months if you’re worried about getting accepted for numerous Ink business cards. In the event that you apply for too many cards at the same time, you may be immediately rejected.
Sign-up incentives are another factor to keep in mind when submitting your application. If you previously got a bonus on a linked Chase business card, you may not be eligible for the bonus on this card. No sign-up bonus is available for the Southwest Rapid Rewards Performance Business Credit Card if you’ve previously gotten one from your personal Southwest Rapid Rewards card within 24 months of applying.
Make sure you’re qualified for the incentive by carefully reading the fine print on any business cards you’re contemplating. Remember, it’s not the date you received the card that matters—it’s the day the bonus was placed into your bank account!
The best Chase business credit cards to consider
There are a variety of company credit cards available, so do your research before applying. We’ve put up a list of the top Chase business credit cards. Whether you’re looking for cashback or travel incentives, we’ve selected credit cards to suit your needs (and as you probably know Ultimate Rewards points are both powerful and flexible).
No annual fee for small company credit cards may be found here, and the bonus areas for spending are a suitable match for small business owners. On the other hand, company owners with high business costs may find that some of these cards are a suitable fit.
To decrease costs and make the most of every dollar spent, there’s no better strategy than maximizing rewards on credit cards for intelligent company owners. For company owners and frequent travelers alike, the Chase business credit card portfolio and the Chase Ultimate Rewards program provide tremendous value and benefits. However, if you don’t prepare ahead, you might end up with a backlog of unanswered applications.