Reminder: How to use CreditKarma to check account openings & 5/24

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Reminder: How to use CreditKarma to check account openings & 5/24

The Chase Sapphire Reserve brought a rule that Chase had imposed front and center: 5/24. If you don’t know about this rule, it simply means if you’ve opened more than 5 credit cards, with any bank, in the last 24 months you will be denied by Chase. There were some exceptions to the rule ( namely Private Client, pre-approvals, and targeted offers), but a lot of those have been changed, and not all cards are affected by it. Namely, it is geared at UR earning cards and since Chase is allowing signups in branch for the Reserve 100k offer until March 12th, it’s worth knowing if you’ll be eligible or not. A good indicator if you’ll get approved over 5/24 is if you’re pre-approved for a card in-branch and they give you your APR rates, but if you’ll dip under 5/24 by March 12th, I’d just hold off and apply once you’re under 5/24. Even Chase Private Clients are reportedly not able to work around the 5/24 rule, so the restrictions seem to be getting worse than better.  So how do you accurately check when you opened new cards, and when you will dip under 5/24? Here’s a reminder on how to use CreditKarma to check account openings & 5/24 status.

If you don’t have a CreditKarma account…get one, it’s free!

You should be keeping an eye on your credit and this is my go to site to do just that. If you have one already, good on ya. If not…stop reading and sign up.

Log in: Check out the left column – specifically credit reportsscreen-shot-2017-01-13-at-1-29-40-pm

You’ll then see your credit scores pop up


Click on either report, I clicked on TransUnion. Organize by Open date

While inquiries won’t show up on individual reports unless pulled, opened accounts will who across the board.

Screen Shot 2016-08-24 at 12.35.21 PM

You can now start counting backwards – it doesn’t matter if they’ve been closed. It’s how many cards you’ve opened in the last 24 months regardless of closure.

  • If you’ve opened an account and closed it…doesn’t matter you still opened it and it counts against 5/24
  • Business accounts other than Chase business accounts don’t show up on your personal credit report so they won’t go against your 5/24
    • There is some evidence to support those who show less than 5/24 on their personal reports, but have opened more than 5/24 when including Chase business accounts being approved if it passes the automated approval system. However, if the application goes pending, and a person has to analyze your application – they can see your Chase business cards openings and may count this against your 5/24 and deny you.
  • If you’ve applied and been denied it doesn’t count.

How to use CreditKarma.com to see when you opened accounts

I won’t hit 5/24 by March 12, but I’ll be close, and hopefully get pre-approved in-branch. I’ll end up getting a Reserve no matter what, but those extra UR would sure be nice to redeem for EVA Royal Laurel across the Pacific. I loved my intra-Asia flight


Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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The Chase Sapphire Preferred® is a great starter card that earns Premium Ultimate Rewards that can be transferred into over a dozen partners many of which are US based including Hyatt, Southwest, United, IHG, and Marriott.

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Annual Fee


Points Earned

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Main Cast: 

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The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.

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Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.

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  • Rick January 13, 2017

    Are you sure Chase’s 5/24 policy refers to opening MORE than 5 cards in 24 months?

    I think I read that 5/24 means that if you’ve opened a 5th card in 24 months, you’ll be denied Chase cards.
    Meaning you’re only allowed 4 cards in 24 months.

    Am I wrong?
    (I hope so!)

    • Miles January 13, 2017

      Hey Rick – thanks for reading. from the data points, Chase will still approve you if you’re 4/24, so they’ll give you the 5th, but reject you on a 6th…

  • Jeremy January 13, 2017

    Does auto lease accounts count toward 5/24?

    • Miles January 13, 2017

      Jeremy – only credit card accounts impact 5/24 – thanks for reading!

  • 2thepoint January 13, 2017

    Does it show and count authorized accounts and replacement accounts (where card is lost/stolen) and a new account is opened by bank.

    • Miles January 13, 2017

      2thepoint – authorized users have actually been shown to affect 5/24, although not always – as far as replacement accounts…to my knowledge a change in account number doesn’t impact 5/24. thanks for reading!

  • dj January 13, 2017

    I remembered seeing some where it shows which credit bureau it pulls with respect to the geographical area you live. anyone with that info handy?

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