Do AmEx business cards count against Chase 5 24?

Do AmEx business cards count against Chase 5 24?

The Chase 5/24 rule is a policy implemented by Chase, one of the major credit card issuers in the United States. It dictates that an individual will not be approved for a new Chase credit card if they have opened five or more credit card accounts from any issuer within the past 24 months. This rule has significantly impacted credit card enthusiasts who seek to take advantage of lucrative Chase credit card offerings.

However, when it comes to AmEx business cards, there is good news for those concerned about their impact on the Chase 5/24 rule. AmEx business cards do not count towards this limit, as AmEx does not report business cards to personal credit bureaus. This means that even if you have several AmEx business cards, they won't appear on your personal credit report and won't count towards the 5/24 limit. This offers an opportunity for individuals to continue pursuing Chase credit cards without being hindered by the number of AmEx business cards they possess.

Why is the distinction between personal and business cards important?

The delineation between personal and business credit cards is crucial for understanding the impact of each type on the Chase 5/24 rule. Personal credit cards, which are primary credit cards used for individual expenses, are subject to the rule. Meanwhile, business credit cards, which are specifically designed for business-related expenses, do not fall under the same restrictions.

How can you take advantage of this exemption?

If you are interested in acquiring Chase credit cards but are concerned about the 5/24 rule, leveraging AmEx business cards can be a strategic move. By obtaining AmEx business cards, you can continue accumulating business-related credit cards without worrying about reaching the 5/24 limit. This allows you to preserve your eligibility for desirable Chase credit cards which offer valuable rewards and benefits.

What advantages do AmEx business cards offer?

Aside from exempting you from the Chase 5/24 rule, AmEx business cards provide a range of unique advantages. These cards often come with generous welcome bonuses, elevated rewards on business expenses, and perks tailored to business needs. They offer opportunities to earn points or cash-back on business-related purchases such as office supplies, advertising expenses, and travel accommodations. Additionally, many AmEx business cards feature expense management tools and employee spending controls, making them suitable for business owners and entrepreneurs.

Other considerations to keep in mind

While AmEx business cards do not count against the Chase 5/24 rule, it is important to note that Chase has its own set of eligibility criteria and rules when it comes to credit card applications. Factors such as credit score, income, and overall relationship with Chase still play significant roles in obtaining approval for their credit cards.

Furthermore, while AmEx business cards don't appear on personal credit reports, some issuers may still consider them when evaluating creditworthiness for other business credit cards or loans. It is always necessary to consult with financial advisors or credit experts for individual guidance regarding credit and financial decisions.

Conclusion

In conclusion, AmEx business cards do not count against the Chase 5/24 rule and present an advantageous opportunity for credit card enthusiasts. By acquiring these cards, individuals can continue expanding their business-related credit card portfolio while preserving eligibility for valuable Chase credit cards. It is important to remember that while this exemption exists, other eligibility criteria and creditworthiness assessments still apply. Taking advantage of AmEx business cards can be a strategic move in maximizing credit card benefits and rewards.

Frequently Asked Questions

No, American Express business cards do not count towards the Chase 5/24 rule. The 5/24 rule specifically applies to personal credit cards, and American Express business cards are considered separate from personal cards.

The Chase 5/24 rule is a guideline used by Chase in determining eligibility for certain credit card applications. It states that if you have opened 5 or more new credit card accounts in the last 24 months, you will likely not be approved for a new Chase credit card.

While there have been occasional reports of certain individuals being approved for Chase credit cards despite exceeding the 5/24 limit, these instances are rare and not consistent. In general, the 5/24 rule is strictly applied by Chase.

Yes, authorized user accounts are typically considered when calculating the number of accounts opened in the last 24 months for the 5/24 rule. However, Chase does provide some flexibility with this guideline and may make exceptions on a case-by-case basis.

You can view your credit card account history and track how many accounts you have opened in the last 24 months by reviewing your credit reports. You are entitled to one free credit report per year from each of the three major credit bureaus: Equifax, Experian, and TransUnion. Alternatively, you can use online credit monitoring services that provide regular updates on your credit card accounts.