We have recently written about Chase's 5/24 rule. It automatically denies applicants who have applied to five credit cards in the last 24 month. We also explored the Chase new plan to pay Visa an unknown amount. The new Infinite Concierge service by Chase was also discussed.
Chase's 5/24 rule automatically denies almost all applicants who applied for five credit cards or more in the last 24 month.
Chase offers almost all consumer credit cards with the 5/24 rule. This is a strict requirement. This basically means that you must have opened at most five credit cards in the past 24 months. This includes credit card from closed-loop shops. Check your credit reports for any unauthorized accounts.
You can get around this rule by applying for multiple Chase credit accounts within a 30-day span. Although some applicants have been approved for more than one card successfully, the 5/24 restriction will prevent most applicants. Chase has become more aggressive about closing accounts and flagging them, so many people have been denied cards.
Chase's plan to pay Visa unspecified revenue
Visa and Chase have reached a new agreement that will provide unspecified revenue to each other. This new agreement should be in effect by the close 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 offering cards through Chase can offer cardholders discounts and targeted deals via the CMS platform.
In a separate enforcement action, the CFPB found that Chase had enrolled consumers in credit card "add-on" products that promised to monitor their credit and alert them to potentially fraudulent activity. Although these products required customer authorization, many customers paid for them without ever actually receiving them. Chase must strengthen its management of third-party vendors as a result of the CFPB's actions.
Chase's Infinite Concierge service
Your credit card company may offer concierge services to help you make your trip more enjoyable and to maximize your time. Chase offers two concierge services: Visa Infinite Concierge, and Visa Signature Concierge. Both services offer concierge-level service that many people don't have.
You have the option to use concierge services to get advice from experts that will help you make the most your travel experience. They can assist you with any questions related to travel and help you arrange rental cars or flights. They can even plan a birthday party for you! The best thing is that there is no additional charge unless you use the service.
Chase Sapphire Preferred
Chase Sapphire Preferred may be the right choice for you if your goal is to find a credit card with the highest rewards and perks. The card offers a great welcome bonus and allows you immediately to start collecting points. Double points can be earned for dining out and on travel. You are protected as a traveler with strong protections.
Sapphire Preferred Visa offers additional benefits such as primary insurance and collision coverage on rental cars. Other benefits include trip insurance for baggage delay and $50 Ultimate Rewards hotel credit. There are a lot of benefits to this card, and the annual fee is only $95 after the first year. This card is ideal for travelers who travel frequently.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card is a premium cobranded credit from Chase. The card comes with several benefits such as a complimentary night certificate for your anniversary and a fourth night free of charge after you redeem an award. IHG is a global hotel company that owns brands like Holiday Inn, Crowne Plaza and Six Senses.
When you sign up for the IHG Premier Credit Card, you'll receive 140,000 bonus points and a free night worth up to 40,000 points. This is a great value because each IHG point is worth 0.5 cents. You can also redeem your points for other rewards and free nights, which can add up to even more value.