Hi, it's Ernest from Trip Astute. In this video, we're reviewing another Chase rule
known as 2/30 and sharing some tips to consider when applying for
multiple cards.
(light chiming music)
If you've been watching our channel, you've probably seen our
Chase 5/24 rule video or heard me reference it in other points and miles
videos. Though with all the new cards that have recently been released by
Chase, I've noticed we've been getting a lot of questions from people asking
whether they can and should apply for multiple Chase cards at once. Since Chase
has some of the strictest rules when it comes to applying for cards, I thought I
would discuss one of their lesser-known rules which is the 2/30 rule. This
unofficial rule basically says that you can be approved for no more than two
Chase cards within a 30-day period. I should caveat this by saying that none
of these rules are official, but more based on the collective experience and
insight from those in the travel and points community. You might know someone
who actually got three Chase cards in a month without any issues, but for most
people, this seems to be the general rule of thumb from Chase. So, if you're chasing (no
pun intended) multiple chase cards at once, and knowing
that it's possible to get two cards within 30 days, should you apply for two
at the same time? In my opinion, probably not. Even if you can get two Chase cards
within a month, you want to monitor whether you fall within the Chase 5/24
rule. Also, I still feel like it's risky to apply for more than one card from the
same issuer at the same time. I think the issuers get a little bit nervous when
they see people applying for a lot of credit at the same time. You can often
hide that you're applying to multiple issuers by using the "app-o-rama" technique,
but if you apply for multiple cards from the same issuer, they're going to
see it. If you're not familiar with the "app-o-rama" technique, see our Credit Card
Tips and Tricks" video for more information. Some people might disagree
with me, but I personally recommend applying for no more than one credit
card from the same issuer within 90 days. I might be overly cautious, but I also
think that this hobby is a marathon and not a sprint.
While you want to be able to get the best offers, I also think that there are
new and better offers yet to come. In fact, rules change so much
in this game, you can never get too comfortable with your card approach and
strategy. Still, if you're determined to get two Chase cards at once, here's what I
would suggest. Number 1: Check your 5/24 status. Chase is notoriously strict about
the number of cards that you have applied for, especially within the last two years.
If you need help determining how to check your status, see our video on it.
Also, keep in mind that not all cards are subject to Chase's 5/24 rule. Chase cards
like the Hyatt, Marriott, IHG, Ritz Carlton, and British Airways do not count toward
5/24. I'll include a link in the video description to an article with the full
list. Number 2: Map out your card strategy. While you
might be excited about getting a card now, just know that each card will make
it more difficult to get a future card, especially with the 5/24 rule. Make sure
that you have a road map for what cards you intend to get. If you need a credit
card tracker, feel free to use the one that we've created. I'll include a link
in the video description. Also, I suggest leaving a little bit of buffer in your
card applications in case an incredible offer is around the corner. You don't
want to miss out the next time a 100,000 points card offer is released. Number
3: Make sure your first application is approved. If you're applying for
multiple Chase cards, then you'll want to proceed with the second application only
if the first one is approved immediately. The reason for this is that it's
unlikely that your second application will be approved instantaneously if your
first one is under review or being processed. I personally wouldn't want two
pending approvals at the same time, as I think it might be a red flag to the
issuer. Again, I might be overly cautious, but I think it's better to be safe than
sorry. Have you had luck applying for two or
more cards from Chase within a month? Let us know your experience below. Also, let
me know if you think I'm being too cautious about applying for more than
one card at the same time from the same issuer. We hope you enjoyed this video
and found it useful. If so, please give us a thumbs up and consider sharing our
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Until next time, travel safe and travel smart.