Some business cards do count towards the Chase 5/24 rule. Understanding the distinction can help if you are trying to stay under. Which business cards count towards 5/24 and which ones don't? When you are on ice, take a look at the best business card options.
There was a new update on 3-9-22.
The offers may have ended or changed.
If you have opened 5 or more revolving accounts in the past 24 months, you will not be approved for a certain Chase card.
If you have opened at least 5 credit cards in the last 24 months, you can get a credit card from Chase. If they can see it on your credit report, it's worth it. To apply for credit cards with Chase, you need to have less than 5 new accounts in the last 24 months. Not all business cards count towards 5/24.
Business cards that don't count towards your tally are a common strategy on ice. Not all business cards count towards Chase 5/24, and those are the ones you want to focus on. While waiting on Chase offers, you can use these as a way to still get valuable and useful cards.
From data points, information the banks have published, and personal experience, here are the banks where their business cards don't count. The bank's cards do not show up on your credit report.
Chase does not include their own business cards in the count.
Southwest frequent flyers like the Southwest Rapid Rewards Performance Business card for its perks and companion pass. What are the best options for you?
There are 6 best options for anyone trying to stay on the ice.
The Capital One Spark Cash Plus card is the best offer for big spenders for a few more days. If you've been considering it, you should jump on it now because it's going to be gone by the end of the year. Capital One changed the way they reported business cards a few years ago.
The welcome offer is always one of the best and the annual fee is under $100. Remember that Citi made some changes to their terms, so note those when applying. Here is a look at the welcome offer, card perks, and earning structure.
One of our favorite business cards is the American Express Blue Business Plus Credit Card. It has no fee, a simple earning structure, and valuable American Express Membership rewards points. The welcome offer, card perks, and earning structure are here.
The American Express Business Platinum card has one of the juiciest welcome offers out there and some good benefits for travelers, but it's not as good as it used to be. The welcome offer, card perks, and earning structure should be looked at.
The bonus earning category earnings make the American Express Business Gold Card a solid card. The welcome offer, card perks, and earning structure are here.
The Business Advantage Cash Rewards Mastercard from Bank of America is a cash back rewards card with no fee, and the real perks come with being a preferred rewards for business member. The welcome offer, card perks, and earning structure are here.
Now that we know which business cards don't count, you might wonder what's left. Your personal credit report will be reported by these banks.
Why does this matter? For one, it affects your status. We recently re-examined the best Chase cards, and keeping yourself under 5 24 helps give you more options. New accounts count down when other banks look at your credit report. There are strict rules for applications from other banks.
Knowing which business cards count towards 5/24 can help guide your strategy. Maybe you’re on ice, trying to get back under 5/24. Maybe you’re under 5/24 and want to take it slow & steady with Chase to avoid a shutdown, but you still see value in other options. This is a way to accomplish both things.Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.
Capital One Spark Cash Plus is $3K.
Capital One has a welcome offer. It is giving up a $3K welcome offer right now and earning 2% back everywhere. You can get a welcome offer of $500 after $5K spend in the first 3 months. $3K is the total welcome offer.
There are additional card benefits.
You can learn more about this card.
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