We recently wrote about Chase's new 5/24 rule. This automatically denies all applicants who have applied for five cards within the last 24 months. We also discussed the Chase plan to pay Visa unspecified revenue. The new Infinite Concierge service by Chase was also discussed.
Chase's 5/24 rule denies all applicants who have applied to Chase for five or more credit card in the past 24 months.
Chase has a very strict 5/24 requirement. It applies to nearly all consumer credit cards. This basically means that you must have opened at most five credit cards in the past 24 months. This includes credit cards from closed-loop stores. It is crucial to verify your credit reports to ensure you don't have more than five credit cards.
The Chase credit card limit is not applicable to multiple Chase cards. This can be done by applying for Chase credit cards in a 30-day window. While some people are able to successfully apply for more cards than they need, the 5/24 policy will block most applicants from getting approved. Chase has been more aggressive in closing and flagging accounts. Many consumers have been denied cards and shut down by Chase.
Chase's New Plan to Pay Visa Unspecified Revenue
Visa and Chase will enter into a new agreement to pay each other unspecified revenue. The new agreement is expected to take effect by the end of the year. This will enable Chase Visa to offer more card volume. Chase, a major issuer Visa and MasterCard credit card cards, is well-positioned for the benefit of this new relationship. Merchants who offer Chase cards can offer cardholders targeted deals and discounts through the CMS platform.
Separately, the CFPB discovered that Chase had enrolled consumers into credit card "add-ons" that promised to monitor their credit and alert them of fraudulent activity. In many cases, these products required written authorization from customers, but many of them paid for them without ever receiving the services. The CFPB's action requires Chase to strengthen its management of its third-party vendors.
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 services: Visa Infinite Concierge and Visa Signature Concierge. These concierge-level services are available to people who don't normally have the means to access them.
With concierge services, you can tap into a team of experts to help you make the most of your travel experience. They can assist you with any questions related to travel and help you arrange rental cars or flights. They can even organize a birthday party! The best thing is that there is no additional charge unless you use the service.
Chase Sapphire Preferred
If you're looking for a credit card that offers the best rewards and perks, the Chase Sapphire Preferred is a good choice. It offers a great introductory bonus and lets you start collecting points immediately. Double points can be earned on travel and dining. 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 trip and baggage delay coverage and a $50 Ultimate Rewards credit towards hotel stays. The card comes with many benefits. After the first year, the annual fee is $95 and you get a $50 Ultimate Rewards hotel credit. This card is for you if you frequently travel.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card by Chase and IHG is a premium, co-branded creditcard. This card offers several benefits, including a free night certificate on your anniversary and a fourth free night after award redemption. IHG is a global hotel company that owns brands like Holiday Inn, Crowne Plaza and Six Senses.
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. Redeem your points to get additional benefits and free nights. These can add even more value.