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If you’re unfamiliar, Chase has a 24 month rule on many of their credit cards that stipulates you can’t receive a new cardmember bonus until 24 months has passed since you last received one. This is understood to be from the time that bonus hits your account, not from when you sign up. For instance, let’s say you sign up for a Chase Freedom Unlimited® that includes 20k Ultimate Rewards after $500 spend in 3 months in January of 2024. If you hit that $500 spend in the first month, it would appear on your Feb statement, and therefore the 24 month clock would start. It would be Feb of 2026 before you’re eligible agin.
However, some of the offers on these cards include 5x bonus categories for 12 months, or double cashback for 12 months.
DoctorofCredit highlighted a very interesting comment left by one of their readers indicating that for some new Chase cardmembers, it may be 36+ months from card opening until they are eligible for a new cardmember sign up bonus. Why you ask?
- The bonus 5x bonus categories that extend for 12 months are included as part of the sign up bonus, not a separate bonus, so the clock doesn’t start until the last 5x bonus posts
- Currently it’s 5x Gas and Groceries for 12 months up to $12k combined spend
- The double cashback isn’t received until the end of the 12 months
- I’d presume that when this bonus hits your account is when your 24 month clock starts.
Recap
This is a new way of looking at the 24 month clock and one to keep in mind should the bonus language specifically include additional bonus elements that layer upon the traditional spend x amount, get x amount of points/miles/cashback.
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