Does The Chase 5/24 Rule Apply To The Chase Sapphire Reserve?

Introduction

The Chase Sapphire Reserve has just been released and the question on everybody’s lips is whether the Chase 5/24 rule applies to this card or not. Here is a quick recap for those not familiar with the rule (please read this post for more information and before asking questions).

• If you have five or more new accounts (credit/charge cards) on your credit report within the past two years you will not be approved

Yesterday when the card was available in branch only, some people with more than 5 or more new accounts were getting approved so we were hopeful that this rule wouldn’t apply. One of the ways to bypass this rule is from in branch pre-approvals though, so we weren’t sure. Now data points are trickling in and the new isn’t good, it looks like this rule does in fact apply. I’m not surprised, but that still doesn’t mean I’m not disappointed.

Data Points

Update: I’m not going to bother updating the data points anymore. This is clearly under 5/24.

Rather than sharing your datapoints in the comments, fill out this reddit survey. You can view the results here.

Approvals for people over 5/24:

Denials for people over 5/24:

• 1, 2. 3, 4

Pending messages (usually means denial):

• 1, 2, 3, 4, 5

Approvals under 5/24:

• 1, 2, 3

What Now

If you still want this card, you really have two options:

• Read up on how to bypass this rule
• Consider doing a product change, we looked at this option in depth