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. Finally, we talked about the new Infinite Concierge services offered by Chase.
Chase's 5/24 rule automatically denies most applicants who have applied for five or more credit cards in the last 24 months
Chase applies the strict 5/24 Rule to almost all consumer credit accounts. 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.
You can get around this rule by applying for multiple Chase credit accounts within a 30-day span. Some people may be able to apply for more than one card. However, the 5/24 rules will stop most applicants being approved. Chase has become more aggressive about closing accounts and flagging them, so many people have been denied cards.
Chase's new plan to pay Visa an unspecified amount of revenue
A new agreement between Visa and Chase will pay the former an unspecified amount of revenue. The new agreement will be in effect by the end the year. This will allow Chase Visa Card Volume to be increased. As a major issuer of Visa and MasterCard credit cards, Chase is well-positioned to benefit from the new relationship. Merchants that offer Chase cards are able to offer cardholders special discounts and deals through 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. Although these products required customer authorization, many customers paid for them without ever actually receiving them. The CFPB's action requires Chase to strengthen its management of its third-party vendors.
Chase's Infinite Concierge service
A concierge service offered by your credit union may be a good option if you want to make your travel experience more enjoyable and save time. Chase offers two concierge services: Visa Infinite Concierge, and Visa Signature Concierge. Both services offer concierge-level service that many people don't have.
You can get help from a concierge team to make your trip a success. They can assist with any travel-related queries and arrange flights or car rentals. They can even help plan your birthday party! The best thing about this service is that you don't have to pay extra unless your use it.
Chase Sapphire Preferred
The Chase Sapphire Preferred credit card is an excellent choice if you are looking for the best rewards and perks. You can start earning points right away with a great bonus offer. Double points can be earned on travel and dining. This card offers strong protections for travelers.
Sapphire Preferred Visa offers additional benefits such as primary insurance and collision coverage on rental cars. You will also receive a $50 Ultimate Rewards hotel credit and trip and baggage delay insurance. This card offers many benefits and costs only $95 for the second year. This is the card you should consider if you are a frequent traveler.
IHG Rewards Premier Credit Card
IHG Rewards Premier Credit Card from Chase and IHG is a premium cobranded credit card. The card comes with several benefits such as a complimentary night certificate for your anniversary and a fourth night free of charge after you redeem an award. IHG is a global hospitality group that owns brands such as Holiday Inn, Crowne Plaza, Six Senses and Holiday Inn.
The IHG Premier Credit Card will give you 140,000 bonus points and a complimentary night. This is a great value because each IHG point is worth 0.5 cents. Redeem your points to get additional benefits and free nights. These can add even more value.