In a recent article we discussed Chase's 5/24 rule. This means that applicants who have applied five times in the past 24months for Chase credit cards are automatically denied. 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 automatically denies most applicants who have applied for five or more credit cards in the last 24 months
Chase has a very strict 5/24 requirement. It applies to nearly all consumer credit cards. The rule basically states that you must have had at least five credit card openings in the last 24 month. This includes credit cards issued by closed-loop merchants. You should check your credit reports regularly to make sure you do not have more than five cards.
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 applicants have been approved for more than one card successfully, the 5/24 restriction will prevent most applicants. Chase has become more aggressive in flagging and closing accounts. This has led to many customers being 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. The new agreement is expected be in place by the beginning of next 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 who offer Chase cards can offer cardholders targeted deals and discounts through 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. In many cases, these products required written authorization from customers, but many of them paid for them without ever receiving the services. Chase must strengthen its management of third-party vendors as a result of the CFPB's actions.
Chase's Infinite Concierge program
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 concierge-level services are available to people who don't normally have the means to access them.
Concierge services allow you to tap into a team that includes experts to help make the most out of your travel experience. They can assist with any travel-related queries and arrange flights or car rentals. They can even arrange a birthday celebration for you! There is no additional cost for the service, even if you 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. It comes with an amazing introductory bonus and allows you to begin collecting points immediately. You can also earn double points on dining and travel. The card also offers strong traveler protections.
The Sapphire Preferred Visa also offers extras like primary insurance and collision coverage for rental cars. Other benefits include trip and baggage delay insurance and a free $50 Ultimate Rewards hotel credit. This card has many benefits, and the annual fees are only $95 after your first year. 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 has many benefits including a free night certificate for your anniversary, and a fourth night of free accommodation after an 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. The IHG points are worth 0.5 cents each. You can also redeem your points for other rewards and free nights, which can add up to even more value.