Recent articles discussed Chase's new 5/24 Rule. This rule automatically denies applications from applicants who have requested five credit cards within the past 24 hours. We also explored the Chase new plan to pay Visa an unknown amount. We also discussed Chase's new Infinite Concierge Service.
Chase's 5/24 rule automatically denies applicants who have applied five or more times for credit cards within the last 24 hours.
The 5/24 rule is a very strict requirement that applies to almost every consumer credit card offered by Chase. The rule basically states that you must have had at least five credit card openings in the last 24 month. This includes credit cards that are not issued by closed-loop retailers. Check your credit reports for any unauthorized accounts.
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 become more aggressive in flagging and closing accounts. This has led to many customers being denied cards.
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 will be in effect by the end the year. This will enable Chase to increase its Visa card volume. Chase, as a major Visa and MasterCard card issuer, will be able to profit from this relationship. Merchants that offer Chase cards are able to offer cardholders special discounts and deals through the CMS platform.
In a separate enforcement case, the CFPB determined that Chase had enrolled individuals in credit card add-on products that promised credit monitoring and alerting them to possible fraudulent activity. Although these products required customer authorization, many customers paid for them without ever actually receiving them. Chase has to take steps to improve its management over third-party vendors after the CFPB took action.
Chase's Infinite Concierge program
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 service options: Visa Infinite Concierge (or Visa Signature Concierge). These services offer concierge-level services that are often unavailable to regular citizens.
With concierge services, you can tap into a team of experts to help you make the most of your travel experience. They can assist with travel queries and organize car rental or flights. They can even plan a birthday party for you! The best thing about this service is that you don't have to pay extra unless your use it.
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. The card offers a great welcome bonus and allows you immediately to start collecting points. You can also earn double points on dining and travel. Strong protections for travelers are also offered by the card.
Sapphire Preferred Visa also provides additional benefits, such as collision coverage for rental cars and primary insurance. Other benefits include trip insurance for baggage delay and $50 Ultimate Rewards hotel credit. The card comes with many benefits. After the first year, the annual fee is $95 and you get a $50 Ultimate Rewards hotel credit. If you travel often, this is the card for you.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card by Chase and IHG is a premium, co-branded creditcard. This card offers many benefits, including a free night certificate upon your anniversary and a 4th night free after an award redemption. IHG is a global group of hotels that includes brands such as Holiday Inn and Crowne Plaza.
You'll get 140,000 bonus point and a night free when you sign up for IHG Premier Credit Card. The IHG points are worth 0.5 cents each. Your points can be redeemed for additional rewards or free nights. This can increase the value of your points.