BANK CREDIT CARD APPLICATION RULES
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Before you apply for your first card (or your next card) you need to have a basic understanding of bank application rules. These are rules that tell us which cards we are eligible for or likely to be approved for.
These rules also help us strategize card applications and how often we are eligible to get a sign-up bonus. Keep in mind that each bank and each card have their own individual rules. You can read these rules in the Terms and Conditions of every credit card application before you apply.
Let’s take a look at application rules for:
Chase Bank
American Express
Capital One
Citi Bank
Bank of America
Barclays
CHASE BANK CREDIT CARD APPLICATION RULES
Chase Bank has the most important rule out of all banks. That’s why we always suggest that when you start applying for cards, that you start with Chase cards first.
There are three different categories of Chase cards that I talk about the most and they each have different rules.
Cards that earn Ultimate Rewards® points (these are flexible points that you can transfer to travel partners or redeem in the bank travel portal):
Cash Back Cards: (points earned from cash back cards can be converted to Ultimate Rewards points if you have a Sapphire or Ink Business Preferred card
Ink Business Premier® Credit Card (*points from this card can’t be transferred, even with a Chase Sapphire Preferred or Ink Preferred card)
Co-Branded Cards: These are cards that earn airline and hotel points and cannot be transferred to travel partners. Points remain in your hotel/airline loyalty account and are not tied to your card. These include:
Cards that earn Southwest Rapid Rewards® points
Cards that earn Hyatt points
Cards that earn IHG One Rewards points
Cards that earn United miles
Cards that earn Marriott Bonvoy points
Chase Card Family Rules: Chase categorizes certain cards into “families” and limits consumers to only getting one card at a time within that family.
The Sapphire cards are a “family”. You cannot get both the Chase Sapphire Preferred (CSP) and the Chase Sapphire Reserve (CSR). If you get the CSP in 2024 that means that you cannot be approved for the CSR until 2028.
The personal Southwest cards are also considered a “family”. You can only hold one personal Southwest card at a time and you cannot be approved for another Southwest personal card for 24 months.
Chase 5/24 Rule: The 5/24 Rule is the most restrictive application rule from any bank. Chase will not approve you for any Chase credit card if you have been approved for more than five credit cards (from any bank) in the past 24 months.
Historically, being an authorized user on a card counted as a 5/24 spot, but data points vary per person.
You can check your 5/24 status on Experian. You are entitled to one free copy of your credit report each year.
You must be under 5/24 to be approved for a Chase business card, but it will not take a 5/24 spot
Applying for a card and not getting approved does not take a 5/24 spot
I have an entire post about this rule if you want more details.
Chase 24/48 RULE: This rule means that you can only get the sign-up bonus (SUB) on a co-branded card every 24 months and the SUB on a Sapphire card every 48 months. Remember, the clock starts when you get the bonus, not when you are approved for the card.
Other Chase cards with a 24-month rule are the no annual fee cards like:
Chase Freedom
Chase Freedom Flex
Chase Freedom Unlimited
CHASE TIPS:
Chase does not limit the amount of cards it will approve you for, but they do limit the amount of credit they’ll extend you. Sometimes if you are denied a card, getting approved is as simple as calling the reconsideration line and moving credit from one card to another.
AMERICAN EXPRESS CREDIT CARD APPLICATION RULES
1:5: American Express limits approvals to one card every five days
2:90: American Express limits approvals to no more than two cards in 90 days
Once in a Lifetime: You can only receive the sign-up bonus on a card once in a lifetime. Many data points suggest that “once in a lifetime” can be seven years after closing your card.
AMEX TIPS:
Because of the Once in a Lifetime rule, you want to make sure the card you’re applying for has the highest sign-up bonus possible.
American Express has a pre-approval tab that will tell you if you’ll be approved for a card without a hard pull.
American Express has generous retention bonuses. Before you cancel your card, always call and ask if there’s a retention bonus on your card.
A note on American Express co-branded Marriott Bonvoy cards. Both Chase and Amex issue co-branded Marriott cards and there are very strict and confusing interbank application rules. If you currently hold a Marriott co-branded card from either bank, take a look at the terms and conditions before you apply for a second card to see if you’re eligible. Here’s an example of an application rule for one Marriott card:
Welcome offer not available to applicants who (i) have or have had The Ritz-Carlton® Credit Card from JPMorgan or the J.P. Morgan Ritz-Carlton Rewards® Credit Card in the last 30 days, (ii) have acquired the Marriott Bonvoy Bountiful™ Credit Card from Chase, the Marriott Bonvoy Boundless® Credit Card from Chase, or the Marriott Bonvoy Bold® Credit Card from Chase in the last 90 days, or (iii) received a new Card Member bonus or upgrade offer for the Marriott Bonvoy Bountiful™ Credit Card from Chase, the Marriott Bonvoy Boundless® Credit Card from Chase, or the Marriott Bonvoy Bold® Credit Card from Chase in the last 24 months.
CITI BANK CREDIT CARD APPLICATION RULES:
Citi Bank has some great cards like the Citi Premier Strata that earns transferable points and the Citi AAdvantage cards that earns valuable AA miles. Let’s take a look at some important rules.
Citi 8/65 Rule: Citi limits approvals to one card every eight days and not more than two credit cards in 65 days
Citi 48 Month Rule: Like Chase, this means that you cannot earn the bonus on a card if you have received a bonus in the past 48 months. This includes:
Cards that earn AAdvantage miles
Citi Prestige
Citi Strata Premier Card
Citi Rewards Cards
Citi Double Cash Cards
Costco cards
CAPITAL ONE CARD APPLICATION RULES
The Capital One Venture cards have become my new favorite cards. Especially the Capital One Venture X Rewards Credit Card which comes with lounge access and a $300 travel credit through Capital One Travel.
Venture cards earn 2x miles per dollar on all purchases and have some of my favorite transfer partners like Emirates, Flying Blue, Avianca and Air Canada. They have also recently tightened up bonus rules on my favorite card.
Capital One limits approvals to just two of their personal cards at one time. I’ve had some people say that they were able to get around this rule, but I wouldn’t count on it. This rule does not include Capital One co-branded cards like the Cabela’s and Bass Pro cards or small business cards.
Other important Capital One application rules include:
1:6: Limits approvals to one card in six months. I’ve had some people say they were able to get more than one card in six months, but this is very rare.
48 Month Rule: Capital One recently went from having no bonus rules to joining forces with Chase and Citi and now limiting welcome offers to every 48 months. This rule is per card. If you get the Venture X offer in July 2024, you will not be eligible to get the offer again until July 2028 on the Venture X.
No Family Rule: Unlike Chase Sapphire cards, where you can only hold one at a time, Capital one allows you to hold BOTH the Venture and the Venture X at the same time.
Capital One Card Tips:
Capital One limits you to holding one charge card at a time. Charge cards are cards that must be paid in full each month like the Capital One Venture X Business card
Capital One has generous referral bonus offers but they come with limits. If you’re in Player Two mode keep in mind that if you refer your P2 for a Venture Rewards and they already have a Capital One card, you will NOT receive a referral bonus.
Capital One is very sensitive to multiple inquiries. That’s why I recommend getting a Venture card as your second or third card.
BANK OF AMERICA CREDIT CARD APPLICATION RULES
One of my favorite airline cards, the Alaska Airlines card, is issued by Bank of America. I got my first Alaska card in 2016 to redeem miles to fly to Asia. My favorite use of Alaska points lately has been to book one-way domestic American Airlines flights for just 7,500 points each way.
Let’s look at some BOA rules to be aware of:
BOA 2/3/4 Rule: This means you can apply for 1-2 cards on the same day (or same within two months) and be approved, but you will be denied if you apply for more than 3 cards in a year.
2 new cards in a 2-month period
3 new cards in a 12-month period
4 new cards in a 24-month period
24 Month Rule: You can get the sign-up bonus on most BOA co-branded cards every 24 months.
3/12 Rule: Bank of America generally will not approve you for a card if you have been approved for more than three cards (personal or business) from ANY bank in the past 12 months. Unless you have a banking relationship with BOA and then it’s seven cards in 12 months.
BARCLAYS APPLICATION RULES
One of my favorite airline cards is issued by Barclays, the Barclay AAdvantage Aviator. There is no easier way to earn points. This card has no minimum spend so it’s the perfect card for those that can’t meet a large spend and don’t want to get 2-3 cards.
Barclays doesn’t have ‘hard and fast’ application rules as something that applies to me may not apply to you. Barclays takes your entire credit history, relationship with them, usage of their cards, etc. into consideration when you apply for a card.
In general, you can get the co-branded cards every 24 months as long as you close your account first and wait about thirty days to reapply
FINAL THOUGHTS
If you follow me on Instagram, you know my motto: “It’s a marathon, not a sprint”. If you are applying for cards every month, this can be considered high velocity, and you will start getting denials much quicker than if you space your applications out every 90 days.
Don’t open cards and close them the first year. Your points travel journey will be very short if you do that. Build a relationship with each bank. Use your cards occasionally.
Alternate applications with your Player Two. This gives you a break from constant pulls on your credit.
Each time you apply for a credit card, make note of:
Application approval date
Date you received the bonus
When annual fee is due
This will come in very handy after you are a year or two in and trying to figure out your 5/24 status or when you can apply for another card again.
As always, use your credit cards responsibly. Never charge more than you can pay off each month. Travel isn’t free if you’re paying interest on balances.
Happy Travels!
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Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.