Insights: CHASE

Understanding these aspects can help you make informed decisions when applying for or managing a Chase credit card.

 

  1. 5/24 Rule: Chase typically declines applications if you’ve opened five or more credit cards (from any issuer) in the past 24 months. This policy applies to most of their cards.
  2. Generous Bank Account Bonuses: Chase offers attractive sign-up bonuses for their checking and savings accounts, often ranging from $150 to $300. These bonuses can sometimes be earned more than once.
  3. Repeat Credit Card Bonuses: You can receive the sign-up bonus on Chase credit cards multiple times, provided at least 24 months have passed since you last received the bonus for that specific card.
  4. Matching Higher Sign-Up Bonuses: If a higher sign-up bonus becomes available within 90 days of your application, Chase may match it upon request. However, if the new offer has a higher annual fee, they might deny the match.
  5. Expedited Card Delivery: Chase will expedite the delivery of your new credit card upon request, often at no additional charge.
  6. Product Changes: Chase allows product changes between certain credit cards, enabling you to switch to a different card that better suits your needs without a hard credit inquiry.
  7. Reconsideration Line: If your application is denied, you can contact Chase’s reconsideration line to discuss your application and potentially overturn the decision.
  8. Credit Bureau Inquiries: Chase typically pulls credit reports from Experian, but they may also check Equifax or TransUnion, depending on your location and other factors.
  9. Business Credit Cards: Chase offers business credit cards that do not appear on your personal credit report, which can help keep your personal credit utilization low.
  10. Retention Offers: Chase occasionally provides retention offers, such as statement credits or bonus points, to encourage cardholders to keep their accounts open.
  11. Authorized User Accounts: Adding authorized users to your account can help them build credit, as Chase reports authorized user accounts to the credit bureaus.
  12. Foreign Transaction Fees: Many Chase credit cards do not charge foreign transaction fees, making them a good choice for international travel.