Posted byon February 26, 2016
Previous article: « When is the Tax Deadline? It’s Not April 15
Next article: This Month’s Most Popular Finance Tips: February »
As I mentioned in our $4,500 Credit Card Application Spree Chase is changing the rules for those of us who apply for lots of credit cards. Earlier this week, we picked up the Chase Ink Plus Business card with a 60,000 point sign up bonus. The card was approved two days later before the new rules take place in March!
Chase is implementing the 5 approvals in 2 years rule for business cards beginning in March, which means you just have a few days left to apply if this rule impacts you.
In addition, there are rumors that the rule for business cards will also apply to co-branded cards shortly including airlines and hotel cards from Chase. If you plan to get any of the Chase airline or hotel cards (Marriott, British Air, IHG, Southwest, etc.) you may want to pick that up at the same time!
The Chase Ink 60,000 points offer to redeem for $600 or $750 towards travel is our Free Money Friday!
*Find and compare all current credit card offers in our credit card directory. You may need to select “Show More Results” to expand the selection of cards if it doesn’t show up initially.
5/24 Rule. The 5 approvals in 2 years rule, sometimes referred to as the 5/24 rule (5 approvals in 24 months) is the Chase rule that they will not approve you for another Chase card if you’ve opened 5 new cards in the last two years with any issuer (not just Chase). Personal Chase cards, like the Chase Freedom and Sapphire Preferred card have already had this rule. Applying it to business cards and co-branded cards will be new.
Earning Points. Earn 5x rewards points on internet, cable, phone services and office supply stores. Earn 2x points on gas stations and hotels. All other purchases earn 1 point.
Redeeming Points. Check out the Best Way to Maximize Chase Ultimate Rewards Points for the best redemption options.
Business Card. This is a business credit card. Don’t forget you can use your SSN and name on the application to open a business card as a sole proprietor, even if you do not have a business corporation or EIN.