Whether you opened your first credit card in search of free travel or you already had a few accounts before discovering this amazing world of points and miles, Your first moves will be well planned thanks to Chase’s 5/24 rule. The issuer uses this rule to automatically reject applicants who have opened five or more cards in the last 24 months.
Some business cards don’t count, so be sure to check them. Our guide for 24/5 If you are not familiar with this rule, you should generally open your Chase cards before moving to other issuers because of this rule.
You could go for a tried and tested card combination like the Chase the trifecta, composed of the Reserve Chase Sapphire®, Ink Business Preferred® Credit Card and Pursue unlimited freedom®. Or you can develop your own strategy later. Deciding which Sapphire card is best for strengthening your strategyWhile there are many great Chase card options, there are only a limited number of ways to use those first five slots.
If you use more than five cards in 24 months, you’ll find yourself in the Wild West of credit cards, where anything goes. After 24 months, there’s no consistent path you can follow. It’s time to evaluate the cards in your wallet, determine what you want from new credit cards, and chart a course.
Today we’ll take a look at some of the best options for developing a post-24/5 strategy.
Related: How to calculate your 5/24 position
What NOT to do
Not being eligible for a Chase card doesn’t mean it’s time to stop getting new cards altogether. One of the biggest mistakes you can make is waiting for it to drop back below 5/24 and missing out on other valuable welcome bonuses in the meantime.
At any given time, there will be multiple welcome bonuses from other Cards with a value of $1,000 or more you’re eligible for (even if you beat the 5/24 rule). By opening a card from a different issuer with a valuable welcome offer, you can earn and redeem tons of valuable rewards now instead of waiting months or years to become eligible for another Chase card.
If you have a specific Chase card in mind that you want to qualify for quickly, you’ll need to be strategic. A great option is to apply for a Visiting card In the meantime, these points typically won’t count toward your 5/24 status, so you can earn some extra rewards while you continue to move toward eligibility for the Chase card you want.
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Related: Business credit cards that are not subject to the 5/24 rule
What to do if you are over 5 years old or older
If you go over the 5/24 limit, there are a few different strategies to consider when deciding which cards to add to your wallet next.
Diversify your points
I would say the 5/24 restriction is the main reason why most people get Chase cards first instead of accumulating other reward currencies, such as American Express Membership Rewards Points, Citi ThankYou Points, Capital One Miles either Bilt Reward PointsHowever, there is a benefit to having rewards from multiple programs, as each of them has a unique set of redemption options. Plus, they are all valuable: TPG September 2024 ratings set the value of these points at a minimum of 1.8 cents per point.
The real value of diversifying your points is the access to each issuer’s transfer partners and the enormous flexibility they offer. Amex has the most transfer partners, but the other issuers are not far behind.
The five issuers also have some transfer partners in common (including British Airlines and Emirates), but their differences are incredibly complementary.
Star Alliance is a great example. Chase and Amex allow you to transfer to all the the major loyalty programs of the largest airline alliance. This allows you to compare United, Avianca, Airplane and Singapore against each other and choose the lowest cost for any prize you wish to book.
Additionally, these issuers often offer transfer bonuses to transfer partners, meaning the best transfer option may vary from month to month. By having access to multiple types of points, you can ensure that you’re always ready to take advantage of the right redemption opportunity.
The best cards to consider:
- The Platinum Card® from American Express: Earn 80,000 Membership Rewards points after you spend $8,000 on purchases within the first six months of card membership. Terms apply.
- American Express® Gold Card: Earn 60,000 Membership Rewards points after spending $4,000 on purchases in the first six months of account opening. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first six months of card membership.
- Bilt MasterCard® Card(see rates and fees): Earn points on rentals without paying any fees.
- Capital One Venture Rewards Credit Card: Earn 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening.
- Citi Strata Premier℠ Card(see rates and fees): Earn 75,000 bonus miles after spending $4,000 within the first three months of account opening.
Look for gaps in profit rates
While Chase cards are known for having solid bonus categories like travel and dining, you may find that your current portfolio has some gaps in earning bonuses. If you have more than 5/24, look into cards from other issuers to fill those gaps.
For example, if you pay rent, the MasterCard Bill Card allows you to earn points on rentals without paying any fees and earn flexible points, which can be redeemed for extraordinary value.
Plus, you may not have a card that covers extra earnings on groceries or gas. Now is a good time to consider adding a card like the Amex Gold or the Citi Strata Premier to your wallet to earn bonus rewards in those categories.
Finally, if you have all your bonus spending categories covered, you can opt for a fixed rate card that earns at least 2 points or miles per dollar on all purchases, such as Capital One Venture Rewards Cardto ensure you earn additional profits on virtually every purchase you make.
Related: The best cards for each bonus category
Consider co-branded cards
While it may seem easy to dismiss co-branded cards because Chase issues most co-branded airline and hotel cards, there are some great offers from other issuers.
If you are loyal to Marriott, for example, you can purchase one of the Amex cards Bonvoy Cards I like the American Express® Marriott Bonvoy Brilliant® Card.
Hilton loyalists also have Several Amex cards to choose fromand American Airlines and Delta Travelers can acquire co-branded credit cards without worrying about 5/24. This can be a great way to get a free hotel night each year, save on checked bag fees, or simply earn a welcome bonus that can help you get started on your next trip.
The best cards to consider:
The information for the Hilton Aspire Amex Card and the Citi®/AAdvantage® Platinum Select® World Elite Mastercard has been independently collected by The Points Guy. The card details displayed on this page have not been reviewed or provided by the card issuer.
In summary
The 5/24 rule is the beginning, not the end, of your credit card rewards journey. Reaching that goal is a rite of passage for serious rewards travelers, and once you do, it’s time to look forward, not back. Find out which of your Chase cards are worth keeping — whether they have a low or no annual fee or solid bonus categories — and decide which benefits are most important in your next credit cards.
Whether you’re looking to branch out into a new rewards currency, fill missing gaps, or possibly both, you have plenty of options to consider. The important thing is that you continue to get out there and take action if you want to keep earning points.
Related: The best ways to use your 5/24 slots
For Bilt Mastercard rates and fees, click here. here.
To learn about the rewards and benefits of the Bilt Mastercard, click here. here.
