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Why the Chase 5/24 Rule is a Good Thing

💠 My TOP Credit Cards: https://cfrog.co/cards 👉 Get Personalized Advice: https://cfrog.co/main Click ‘Show more’ to see ad disclosure The Chase 5/24 rule is hated by pretty much everyone in the credit card community, and this is because being locked out of the Chase ecosystem sucks since Chase has some really good everyday-use credit cards, a robust points system with flexible rewards, and, of course, very valuable sign-up bonuses, including the 90k SUB on the Chase Ink cards at the time of the posting of this video in late September 2023. Briefly, the Chase 5/24 Rule is where if you’ve opened 5 or more personal credit cards across all issuers within the past 24 months, you will automatically be denied for any new Chase credit cards. But the Chase 5/24 Rule does have some indirect benefits that help shape your credit card portfolio, in my opinion, for the better. The first reason why the Chase 5/24 rule could be a good thing is that, with this rule in place, you have to strategically plan your credit card setup. This rule forces you to think critically about your credit card setup and if that next credit card, whether it's from Chase or not, is actually worth getting. The second reason the Chase 5/24 rule could be a good thing is that it discourages overapplying for credit cards. Without the Chase 5/24 rule, it’s actually much easier to go for a new card whenever you want, which sounds good, but having that extra rule to think about is something that can be helpful if you’re trigger-happy when it comes to applying for credit cards, which can be slightly dangerous. The third reason why the Chase 5/24 rule is a good thing is that it’s a great reason to garden your credit card setup. By using cards in your current credit card portfolio, you may even discover something new about your spending habits, and then you’ll be able to plan ahead for another credit card that would be a great fit. Remember that your credit card journey is a marathon, not a sprint. Definitely enjoy the journey because there will always be another limited-time sign-up bonus. And these bonuses get better and better every year, so even if you see one that you really want, chances are, you’ll end up seeing it again, and maybe it’ll be even better than before. -- CONNECT with me:  ▶️ SUBSCRIBE to my channel!:    / @thecreditfrog   📸 Follow me on Instagram: https://cfrog.co/instagram   Chapters: 00:00 Intro 00:36 Chase 5/24 Rule Basics 01:29 Is the Chase 5/24 Rule Good? 11:28 Outro -- Note: This description contains affiliate links, meaning that I may earn a commission if you click through these links and successfully apply, sign up, or buy the product or service mentioned.   Disclaimer: I am not a financial advisor, accountant, or lawyer, and as such, I do not provide financial, tax, or legal advice.  This video, and any ideas presented in it, are opinions and are provided for entertainment purposes only.  Please do your own research and consult your own financial, tax, or legal professional for specific advice.   #creditcard #chasebank #creditcardrewards