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 discussed the Chase plan to pay Visa unspecified revenue. We also discussed Chase's new Infinite Concierge Service.
Chase's 5/24 rule denies all applicants who have applied to Chase for five or more credit card in the past 24 months.
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. To ensure that you have not opened more than five cards, it is important to check your credit reports to see if you've reached your limit.
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. Although some individuals have been successful in applying for multiple cards, most applicants will not be approved by the 5/24 rule. Chase has been more aggressive in closing and flagging accounts. Many consumers have been denied cards and shut down by Chase.
Chase's plan to pay Visa unspecified revenue
A new agreement between Visa and Chase will pay the former an unspecified amount of revenue. The new agreement is expected to take effect by the end of the year. This will allow Chase Visa to accept more cards from Chase. Chase, a major issuer Visa and MasterCard credit card cards, is well-positioned for the benefit of this new relationship. Merchants who offer Chase cards can offer cardholders targeted deals and discounts 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. Many of these products required written authorization from customers. However, many of those who purchased them never received the services. Chase is required to improve its management of third party vendors following the CFPB action.
Chase's Infinite Concierge Service
If you're looking to improve your travel experience and maximize your time, you may want to consider using the concierge services offered by your credit card company. Chase offers two concierge services: Visa Infinite Concierge and Visa Signature Concierge. These services offer concierge-level services that are often unavailable to regular citizens.
Concierge services allow you to tap into a team that includes experts to help make the most out of your travel experience. They can help with all travel queries, and even arrange car rentals or flights. They can even plan a birthday party for you! The best part? There's no extra charge for using this service.
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. It offers a great introductory bonus and lets you start collecting points immediately. You can also earn double points on dining and travel. You are protected as a traveler with strong protections.
Sapphire Preferred Visa provides additional benefits like collision coverage and primary insurance for rental cars. Additional benefits include travel and baggage delay insurance, and a $50 Ultimate Reward hotel credit. There are a lot of benefits to this card, and the annual fee is only $95 after the first year. This is the card you should consider if you are a frequent traveler.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card, a premium co-branded credit cards from Chase and IHG, is available. This card offers several benefits including a free anniversary certificate and a fourth-free night after award redemption. IHG is a global group of hotels that includes brands such as Holiday Inn and Crowne Plaza.
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. Points can be used to redeem for free nights and other rewards.