We have recently written about Chase's 5/24 rule. It automatically denies applicants who have applied to five credit cards in the last 24 month. We also reviewed the Chase's new plan to give Visa an unspecified amount of revenue. We also discussed Chase's new Infinite Concierge Service.
Chase's 5/24 rule automatically denies almost all applicants who applied for five credit cards or more in the last 24 month.
Chase has a very strict 5/24 requirement. It applies to nearly all consumer credit cards. It simply requires you to have opened at minimum five credit cards within the previous 24 months. This includes credit cards from closed-loop stores. To ensure that you have not opened more than five cards, it is important to check your credit reports to see if you've reached your limit.
It is possible to apply for more than one Chase credit account within a 30 day period to circumvent this rule. While some people have successfully applied for more than one card, the 5/24 rule will prevent most applicants from being approved. Chase has become increasingly aggressive about flagging and closing accounts, and many consumers have been shut down and denied cards as a result.
Chase's new plan for Visa to receive an unspecified amount in revenue
Visa and Chase have signed a new agreement. The revenue will be paid to the first party in an unspecified amount. The new agreement is expected to take effect by the end of the year. This will enable Chase to increase its Visa card volume. As a major issuer of Visa and MasterCard credit cards, Chase is well-positioned to benefit from the new relationship. Merchants that offer cards through Chase will be able to offer discounts and targeted deals to cardholders using the CMS platform.
The CFPB also found that Chase had enrolled customers in credit card "add on" products that promised to monitor credit and alert them to fraudulent activity. Although these products required customer authorization, many customers paid for them without ever actually receiving them. Chase must strengthen its management of third-party vendors as a result of the CFPB's actions.
Chase's Infinite Concierge Service
The concierge services offered by credit card companies can help you improve your travel experience as well as maximize your time. Chase offers two concierge service options: Visa Infinite Concierge (or Visa Signature Concierge). Both services offer concierge-level service that many people don't have.
You can get help from a concierge team to make your trip a success. They can assist you with any questions related to travel and help you arrange rental cars or flights. They can even arrange a birthday celebration for you! The best thing is that there is no additional charge unless you use the service.
Chase Sapphire Preferred
Chase Sapphire Preferred Credit Card is a great choice for those who want the best rewards, perks and benefits. The card offers a great welcome bonus and allows you immediately to start collecting points. Double points can be earned for dining out and on travel. You are protected as a traveler with strong protections.
Sapphire Preferred Visa also provides additional benefits, such as collision coverage for rental cars and primary insurance. Additional benefits include travel and baggage delay insurance, and a $50 Ultimate Reward hotel credit. This card has many benefits, and the annual fees are only $95 after your first year. This card is ideal for travelers who travel frequently.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card, a premium co-branded credit cards from Chase and IHG, is available. The card comes with several benefits such as a complimentary night certificate for your anniversary and a fourth night free of charge after you redeem an award. IHG, a global hotel group, owns brands like Holiday Inn, Crowne Plaza, Six Senses, and Holiday Inn.
Sign up for the IHG Premier Credit Card to receive 140,000 bonus points as well as a free night up to 40,000 points. Each IHG point is worth 0.75 cents, which is an excellent value. You can also redeem your points for other rewards and free nights, which can add up to even more value.