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. The new Chase plan to make Visa undetermined amounts of revenue was also examined. We also discussed Chase's Infinite Concierge program.
Chase's 5/24 rule automatically denies almost all applicants who applied for five credit cards or more in the last 24 month.
The 5/24 rule is a very strict requirement that applies to almost every consumer credit card offered by Chase. This means you have to have at least five credit cards opened within the last 24 hours. This includes credit cards from closed-loop stores. 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 increasingly aggressive about flagging and closing accounts, and many consumers have been shut down and denied cards as a result.
Chase's new plan for Visa to receive an unspecified amount in revenue
Visa and Chase have reached a new agreement that will provide unspecified revenue to each other. The new agreement is expected to take effect by the end of the year. This will allow Chase to commit more card volume to Visa. Chase, as a major Visa and MasterCard card issuer, will be able to profit from this relationship. Merchants that offer cards through Chase will be able to offer discounts and targeted deals to cardholders using the CMS platform.
Separately, the CFPB discovered that Chase had enrolled consumers into credit card "add-ons" that promised to monitor their credit and alert them of fraudulent activity. In many cases, these products required written authorization from customers, but many of them paid for them without ever receiving the services. Chase is required to improve its management of third party vendors following the CFPB action.
Chase's Infinite Concierge
The concierge services offered by credit card companies can help you improve your travel experience as well as maximize your time. Two concierge services are offered by Chase: Visa Infinite Concierge or Visa Signature Concierge. These services offer concierge-level services that are often unavailable to regular citizens.
With concierge services, you have access to a team full of experts who can help you make the most from your travel experience. They can assist with any travel-related queries and arrange flights or car rentals. They can even help plan your birthday party! The best part? There's no extra charge for using this 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. It offers a great introductory bonus and lets you start collecting points immediately. You can also earn double points for dining out or traveling. You are protected as a traveler with strong protections.
Sapphire Preferred Visa also provides additional benefits, such as collision coverage for rental cars and primary insurance. Other benefits include trip and baggage delay insurance and a free $50 Ultimate Rewards hotel credit. The annual fee for this card is $95 after the first year. There are many other benefits. If you travel often, this is the card for you.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card is a premium cobranded credit from Chase. This card offers several benefits, including a free night certificate on your anniversary and a fourth free night after award redemption. IHG is a global hotel company that owns brands like Holiday Inn, Crowne Plaza and Six Senses.
Sign up for the IHG Premier Credit Card to receive 140,000 bonus points as well as a free night up to 40,000 points. Each IHG point is worth 0.75 cents, which is an excellent value. You can also redeem your points for other rewards and free nights, which can add up to even more value.