Navigating Credit Card Application Rules: Chase 5/24, Amex Lifetime & More

If you’re in the market for a new credit card and/or don’t want to have FOMO about a generous welcome bonus, or you’re just curious about credit card rules, we’re covering all the must know information about credit card application rules, bank by bank.
You may have heard about some of the application rules that major credit card issuers like Chase and American Express have in place. These rules, like the the Chase 5/24 and Amex lifetime rules, can make it difficult for you to get new cards, welcome bonuses, or specific types of cards with a card issuer due to certain rules and time periods limitations.
However, understanding and navigating these rules (along with a good credit score) can greatly increase your chances of being approved for the card of your choice. We’re breaking down the different application rules that each credit card company has in place, so you can confidently play by the rules and navigate them successfully. By the end, you’ll not only have a better understanding of these rules, but also a resource you can come back to anytime you’re considering applying for a new card.
So if you’re ready to take control of your credit card applications and potentially improve your chances of approval, let’s get started.
Useful Prep Tips When Applying for Credit Cards
Beyond the application rules and restrictions, it’s important to consider best practices when applying for a new credit card.
- Compare different credit card options. There are many cards on the market, each with different benefits and features. You need to find a card that best suits your current needs, so its best to compare different cards and understand fees, rewards, benefits, and so on.
- Meet welcome bonus minimum spend requirements. Each new card offer comes with an incentive to spend a certain amount, within a certain timeframe, to earn cash back, points or miles. Plan ahead and think about how you will meet the requirement so you can spend smart while achieving the welcome bonus goal.
- Pay off your statement balance each month. A credit card is a convenient way to pay and earn rewards and other benefits, but if you’re carrying a balance and getting charged interest fees, it voids these benefits and negatively impacts your credit score. Spend what you can afford to pay off each month.
- Organize your card details. Whether you have just a few cards or a few dozen cards, you’d be smart to create a spreadsheet (or use ours) to keep track of details for each card – like when you applied, date opened, welcome bonus requirements, features and benefits, annual fee (if applicable), and more. This makes it easy to quickly see card details and how you currently align with application rules.
- Planning new applications. Be cautious about submitting multiple credit card applications within a short time period, as this can negatively impact your number of hard inquiries and ultimately your credit score. Understanding the bank rules and planning will improve your success.
By following these general tips and being mindful of the specific rules set by each bank, you can increase your chances of securing your next card.
Credit Card Application Rules By Bank
American Express Credit Cards
Applications
Within a 90-day period you can obtain a maximum of two Amex credit cards. This guideline typically doesn’t include Amex charge cards (Platinum, Gold, Green cards).
Welcome Bonuses
Once in a lifetime rule
If you have or have had a specific card and apply for the same card again, you may qualify for the card, but it’s unlikely that you’ll be eligible for a welcome bonus. This is known as the Amex lifetime rule. However, Amex tends to overlook previous card history after 7 years. Because of this, you’ll want to target an elevated welcome offer.
Keep in mind that there are offers without lifetime language (NLL) that do not have this restriction. The nice thing about Amex is you will be notified during the application process if you are ineligible for the welcome offer on an American Express card, before a hard inquiry.
“Family” rules
Along with the “once in a lifetime” policy, Amex has introduced new “family” welcome bonus restrictions for multiple categories of personal cards. These rules do not affect business cards. You can think of it essentially as a ladder you go up, but not down.
- Platinum, Gold, Green: If you have already held any of the Platinum cards in the past, you may not be eligible for a welcome offer on the Green, Gold, Platinum, Charles Schwab Platinum, or Morgan Stanley Platinum.
- Blue cash cards: If you have ever held the Cash Magnet, Blue Cash Preferred, or Morgan Stanley Blue Cash Preferred cards, you may not qualify for a welcome offer on the Blue Cash Everyday card.
- Everyday cards: If you have had the Everyday Preferred card before, you might not qualify for a welcome offer on the Everyday card.
- Delta cards: You can apply for a Delta American Express card with a higher annual fee than one you’ve had to receive a welcome offer. This is a simple example of the ladder scenario.
Marriott cards
Marriott cards are available from both Amex and Chase. There are a maze of rules associated with Marriott cards that you need to follow to maximize how you qualify. In general, it’s best to start with Chase Marriott cards to maintain your eligibility for other Chase or Amex Marriott cards in the future.
Amex Card limits
You are allowed to have a maximum of 5 American Express credit cards active at the same time, which includes both personal and business credit cards.
Separately, you are allowed to have a maximum of 10 American Express charge cards active at the same time, which includes both personal and business charge cards.
Bank of America Credit Cards
Applications
3/12 and 7/12 Rule
Just like Chase’s 5/24 rule, you will be ineligible for a card if you have opened 3 or more accounts at any bank in the last year. If you have Bank of America deposit accounts, the threshold increases to 7 accounts opened within the past year. Because of this, if a BoA card is a priority for you, it’s best to plan ahead.
24 Month Rule
Bank of America also has a policy that limits you from opening a credit card if you have or have had the same card within the past 2 years. The language varies from card to card for when that clock starts, so it’s best to review your specific terms.
Welcome Bonuses
There are no limitations on earning a welcome bonus with Bank of America. You have the opportunity to receive a welcome bonus multiple times on the same card, as long as you follow the application guidelines and are approved for the card. Remember that the 24-month rule would apply and requires you to wait at least 2 years before qualifying.
Bank of America Card Limits
Bank of America will only allow a maximum of 2 new personal cards every 2 months, 3 every 12 months, and 4 every 24 months (the 2/3/4 rule). Unlike American Express, Bank of America does not have a set limit on how many credit cards you can have with them, but instead may restrict the total credit limit they are willing to give you based on your income and spending habits. You may need to consider reducing credit limits on some cards if this happens. Also, if you have a bank account with BoA it may extend your odds of qualifying for a new credit card.
Barclays Credit Cards
Applications
Barclays has a policy similar Chase 5/24 that you may not qualify for a new credit card if you have opened 6 or more cards (from any bank) in the past 24 months. It’s worth noting that this application rule is not consistently enforced, as there have been cases where people were approved even after exceeding the 6/24 limit.
Welcome Bonuses
You can qualify for a welcome bonus on a card more than once by closing a card and waiting at least 24 months before reapplying.
Barclays Card Limits
Barclays won’t allow you to have more than one of a specific card, but does not have a strict cap on the total number of cards you can have. They do have limits on the total credit they will extend to you individually, and will review your overall credit history before giving approval. In general, accumulating a significant number of open cards, hard inquiries, or high balances could affect your chances of getting approval for a new card. Additionally, the bank may take into account your spending on other Barclays cards when qualifying your application.
Capital One Credit Cards
Applications
Traditionally, Capital One has had a one card every 6 months approval rule, which applies to both personal and business cards. It’s worth noting that some data points have shown examples of people getting a second card within that time period.
Welcome Bonuses
If you have received a welcome bonus within the last 48 months for a specific card, you are not eligible for that card again. This rule applies only to personal cards, not business cards.
Capital One Card Limits
The overall threshold of personal cards is low as Capital One allows a maximum of two. Exceptions to this rule are co-branded cards (i.e. Walmart Rewards® Mastercard®) and business cards (i.e. Capital One Spark Business), and any card that has been discontinued or significantly changed.
Chase Credit Cards
Applications
5/24 Rule
If you’ve heard of any of the credit card rules in this article, chances are it’s this one. The Chase 5/24 rule limits you’re qualification for a new Chase card if you have applied for and/or opened 5 or more cards (from any bank) in the last 24 months. Most business cards don’t contribute to the 5/24 total.
2 per month Rule
Most applicants are restricted to 2 new cards within a 30 day period.
Welcome Bonuses
24 Month Rule
If you have had a specific Chase card before, you are only eligible for a welcome offer on that card again if you no longer have the card and if it has been over 24 months since you last received a welcome offer for that card. However, the Sapphire Preferred and Reserve cards are exceptions to this rule (refer to the 48 month rule). Some business cards may have exceptions.
48 Month Rule
If you have previously held either the Sapphire Preferred or Sapphire Reserve cards, you are eligible for the welcome bonus on another Sapphire card only if you no longer have either card and it has been over 48 months since you last received a welcome bonus for that card.
“Family” Rules
Aside from the 48-month rule for Sapphire cards, Chase also enforces additional “family” rules for Southwest cards and Marriott cards. If you currently have a personal Southwest card or Marriott card and have received a welcome offer in the past 24 months, you are not eligible for another welcome offer. This rule does not apply to business cards.
Marriott cards
Marriott cards are available from both Chase and Amex. There are a maze of rules associated with Marriott cards that you need to follow to maximize how you qualify. In general, it’s best to start with Chase Marriott cards to maintain your eligibility for other Chase or Amex Marriott cards in the future.
Chase Card Limits
Chase does not have a strict limit on the number of cards you can have, but they do restrict the total amount of credit they will extend to you individually. Determining this limit can be difficult, as it is usually set based on the income you report on your applications.
If you receive a rejection for a card because of already having too much credit extended to you, you can call their reconsideration line and request a transfer of some of your credit limit from your existing cards to the new card. You can also proactively decrease the limits on your current cards before applying by sending a message to Chase through their secure message center. You can tell them you want your credit limits reduced and specify the desired amount.
Citi Credit Cards
Personal Applications
You are limited to applying for a maximum of 1 personal card within 8 days and no more than 2 within a 65-day period.
Business Applications
You are limited to applying for 1 business card within a 95-day period.
Welcome Bonuses
You are only eligible for a welcome offer once every 48 months on most individual Citi cards.
Citi Card Limits
Citibank doesn’t usually restrict the number of credit cards you can have, but they do have a limit on the total credit they are willing to offer you as an individual across all your Citi cards. If you reach this limit, you may need to close some cards, reduce credit limits, or shift credit to the new card.
Discover Credit cards
Applications
You’ll need to wait 12 months from when you opened your previous card before you can apply for another card.
Welcome Bonuses
It’s possible to get multiple welcome bonuses from a specific Discover card. Receiving a bonus on one card doesn’t prevent you from getting a bonus on others, but based on card limits the possibility is infrequent.
Discover Card limits
You are only allowed to have up to 2 credit cards from Discover. The first card must be active for at least 12 months before you can qualify for a second card.
U.S. Bank Credit Cards
Applications
The only restriction that U.S. Bank has is specific to the U.S. Bank Altitude Reserve card. For approval, it requires that you have an existing relationship with U.S. Bank, which can be qualified with another open bank account or credit card.
Welcome Offers
If you are applying for a U.S. Bank card you already have, you can’t get a welcome offer if you’re applying for that same card. Otherwise, you can get a welcome bonus multiple times, with no known limits or waiting periods.
U.S. Bank Card Limits
There aren’t any hard limits on the number of cards you can have with U.S. Bank. Like other card issuers, the main limitation is amount of credit they will extend to you as an individual.
Wells Fargo Credit Cards
Applications
According to Wells Fargo’s official policy, if you have opened a Wells Fargo credit card within the past 6 months, you may not be approved for another one. And similar to U.S. Bank, Wells Fargo takes into account your existing relationship with them when deciding whether to approve you for a new credit card.
Welcome Bonuses
There is a 16 month waiting period before you can receive a welcome bonus on another Wells Fargo card. It’s worth noting that personal and business cards are considered separately, so in a 16 month period you can get 1 personal and 1 business card welcome bonus.
Wells Fargo Card Limits
Similar to other card issuers, Wells Fargo doesn’t restrict the number of cards you can have with them; instead, they focus on the overall credit limit extended to an individual cardholder. You can reduce your overall credit with Wells Fargo, or move existing credit to a new card.
Credit Card Application Restrictions FAQ
What are the basic rules for applying for a credit card?
When applying for a credit card, it’s essential to understand credit score factors, and that each card will have credit score requirements set by the card issuer. Apply where you are likely to qualify. You need to be mindful of credit cards you already have, your overall credit card history, any existing relationship you have with the issuing bank, and recent credit inquiries on your credit report.
Can I apply for a new credit card if I have had a card in the past with the same bank?
Generally, you can apply for a new card from the same card issuer, whether it’s a card you’ve had previously or a card you’ve never had. However, each issuer has specific restrictions on this, so it’s best to confirm with the rules.
Are there any restrictions for applying for a business credit card?
If you have any kind of side gig where you are generating income (sole proprietor), or an officially registered business (such as an LLC), you should qualify for a business credit card. Each card issuer has specific criteria for business credit card applications, including certain revenue or business structure requirements.
What is the impact of recent credit inquiries on a credit card application?
Having too many credit inquiries within a short period can raise red flags for card issuers as it may indicate financial distress. It’s best to plan ahead when applying for a new card to limit the number of inquiries.
Can I apply for multiple cards from the same issuer at once?
Applying for two different credit cards with the same card issuer in a single day is possible. When you apply for a card, the credit bureaus count each inquiry separately. However, some banks will combine multiple same day applications into a single inquiry.
This article may contain recommendations but isn’t financial advice. The information regarding credit card application restrictions was independently sourced by Moola! and was not provided or reviewed by the card issuers.
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