First things first: Chase customers well over the 5/24 limit are getting approved for the Sapphire Reserve after checking for pre-approval in-branch.

Now allow me to back up a bit.

This morning Scott wrote a full breakdown of the Chase Sapphire Reserve card, the newest and hottest travel credit card on the market that offers 100,000 bonus Ultimate Rewards after spending $4,000 on the card in the first three months.

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Amazing, right?

The sobering caveat is that Sapphire Reserve is a Chase card, which means it falls under the jurisdiction of the infamous Chase 5/24 rule. If you have opened five or more new credit cards in the last 24 months, you will be denied for Chase cards, including the Sapphire Reserve. That probably rules out a good deal of you reading this right now.

But–and this is a big but– it looks like there’s hope for you yet.

If you have any sort of relationship with Chase, whether that be a credit card, checking account, savings account, etc., than keep reading because you might be able to surpass the 5/24 rule. That is not to say you will be approved, but from what we’ve seen so far it increases your chances significantly by helping you at least bypass the first hurdle that cripples so many of us (leaving the decision up to other factors).

What to Do if You’re Over 5/24

This 5/24 loophole will only work if you have some sort of relationship with Chase already. You don’t necessarily need something like a checking account, savings account, or mortgage– a credit card account could suffice. The overarching factor to consider is the future value Chase sees in your relationship with them.

Step 1: Find the closest Chase location near you.  It doesn’t need to be the branch you normally visit or even in your home state, any location should be able to assist you.

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  • Step 2: Ask if the system shows that you are pre-approved for any credit card offers. At this point, you won’t have triggered any hard credit pull. You can decide once you hear if you’re pre-approved or not whether or not you want to pull that trigger, so you don’t have to risk a hard credit pull in vain.
    • If you are pre-approved, read Step 3a.
    • If you are not pre-approved, read Step 3b.
  • Step 3a: Proceed with applying in-branch. Looks like your chances are pretty good for approval according to reported data points. This comment today on Flyertalk claims the Chase banker they spoke to hadn’t seen anyone denied that was pre-approved. If you aren’t instantly approved, ask why and if there’s further information you can provide or actions you can take to help move along/change their decision.
  • Step 3b: I would stop here. Data points are reporting denial due to 5/24 from those that proceeded with applying despite not being pre-approved.

If you decide to go to a Chase branch to check if you’re pre-approved, write your experience in the comments no matter what the outcome to help guide other MileValue readers through this process.

I already applied online and was denied. Should I still try going to a branch and asking about pre-approval?

These three people report denied online applications followed by pre-approval and ultimately an approved application in-branch:

BONUS: If you can go into the bank the same day you are denied online, you could save yourself an extra hard credit pull as the inquiries will probably combine.

Bottom Line

If you’ve opened five or more credit cards from any issuing bank in the last 24 months but want the Chase Sapphire Reserve, try heading to the closest branch and asking if you’re pre-approved for any credit card offers if you have an existing relationship with Chase.

If you are pre-approved, I say it’s worth applying. If not, then don’t bother.

If the 5/24 rule doesn’t apply to you, then you can apply online.

Hat tip Doctor of Credit

Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are the author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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