Rules of the Game
Amex, Chase, Citi, and Business Cards
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Intro
Have some very exciting stuff coming up in the pipeline! I wanted to drop this post, as I’ve had people asking about the rules for each issuer. Below will serve as a one stop shop for each issuer that we introduced so far. We’ll include rules for other issuers in the future as we roll them out down the road.
Bookmark this post for future reference!
Amex
Once In a Lifetime Rule
One of the most important rules to consider…Amex only allows you to get a signup bonus (SUB) one time for each card. Once you get a SUB for a particular card, you will NOT get an additional SUB if you apply for that same card down the road. Note that if you’re applying for a card like Amex Platinum where there are a few varieties (Platinum Schwab and Platinum Morgan Stanley), these will be considered different products, and you should still be able to get the bonus for each product.
Exceptions
Amex will often email targeted offers to their customers, that do not include the “once in a lifetime rule” language. Additionally, Amex will often have No-Lifetime-Language links where you can access an application that will be eligible for the bonus, even if you’ve already had it. Note that sometimes you’ll need to use a VPN, browse in incognito mode, or try on your mobile phone to get the correct SUB to show up on your NLL apps. It’s worth it! As these NLL apps can help you bank a ton of Amex points.
For targeted application or NLL apps, remember, Amex will also indicate whether you or not you will be eligible for the bonus BEFORE you submit your application.
If you’re not eligible to earn the SUB, you’ll see a message that says something like this:
“Welcome offer not available to applicants who have had this card or previous versions.”
To be clear, if you see this, you will NOT get the SUB.
Considering all of the above, it’s best to apply to Amex cards when they are close to their all time high SUB, and jump on any juicy NLL offers when they come up.
1/5 Rule
You can only apply to one credit card every 5 days. Note that this only applies to credit cards and not charge cards.
Most of the Amex cards discussed in the quarterly plans are charge cards, including the Amex Platinum, Gold, and Green.
5 Card Limit Rule
Amex only allows you to have 5 credit cards at once (including business and personal). Note that again, this rule does not apply to charge cards (charge cards listed above), so does not affect us too much at this point.
2/90 Rule
Amex will only approve you for two new credit cards in a 90 day rolling period. Note that this does not apply to charge cards (which are different from credit cards).
Charge Cards vs Credit Cards
In simple terms, credit cards allow you to carry a balance (DON’T DO THIS), while charge cards require you to pay in full each month)
https://www.americanexpress.com/in/credit-know-how/how-do-credit-cards-work/
Personal Charge Cards
-Amex Gold
-Amex Platinum
-Amex Green
-Amex Platinum Schwab
-Amex Platinum Morgan Stanley
Business Charge Cards
-Amex Business Green
-Amex Business Gold
-Amex Business Platinum
-Amex Plum (terrible card)
Personal Credit Cards
-Variety of Dela, Hilton, Marriott, etc
Business Credit Cards
-Blue Business Plus
-Variety of Delta, Hilton, and Marriott
Chase
5/24
The infamous 5/24 rule. It changed the game forever, but didn’t ruin it. It just means that we have to be a bit more strategic with our apps.
It’s also gotten a bit murkier over the last couple years, as some people have reported getting approved for cards at 6/24. Either way, it’s a safe bet to factor in 5/24 as a hard rule during your credit card apps.
Chase’s 5/24 is quite simple. Chase will auto-reject you for any Chase credit card if you’ve opened 5 or more personal cards (of any issuer, Amex, Citi, etc) in the past 24 months. Chase Business cards do not count as a 5/24 slot (neither do most business cards from other issuers). But you won’t be able to get approved for a Chase Biz card if you’re at 5/24 or above. You’ll have to wait until you fall back down under 5/24 before applying. This is why the quarterly plans stress getting Chase Business cards at the beginning of this game.
2/30 Rule
Chase will only approve you for a maximum of 2 Chase cards every 30 days. If you apply for a third one, you’ll get auto-denied.
1/30 Chase Biz Card
Chase will only approve you for one business card every 30 days. However, there is a notable exception.
If you apply for a Chase biz card and get approved the SAME DAY, you can apply to a second Chase biz card. Just note, there is no guarantee that the second application will get approved.
48 Month Rule
You can only get one SUB for a Chase Sapphire card every 48 months. Regardless if you cancel an existing Sapphire, downgrade, product change, etc…You’ll have to wait 4 years from your last SUB to be eligible for a new SUB.
Citi
5 Day Rule
This seems to be a new rule that Citi is enforcing (thanks to the Slack members for the data point). Citi seems to be automatically rejecting applications if you applied for ANY other card within the last 5 days. Regardless if it’s Citi, Chase, Amex, etc.
Best is to wait a full week after your last application to apply for a Citi card.
If you forget this rule and apply for a card within a 5 day window, you’ll get automatically rejected, and need to wait 10 days to reapply.
1/8, 2/65
1/8 Rule means you can’t get approved for more than one Citi card every 8 days
2/65 Rule means you can’t get approved for more than two Citi cards every 65 days
1/90 Biz Rule
You can only get approved for one Citi Business card every 90 days.
48 Month Rule
You can only get a SUB for Citi Premier once every 48 months.
Getting Business Cards
What if I don’t have a business?
Have you sold anything on Craigslist, Facebook marketplace, or did you do anything in exchange for money? Congrats! You have a sole proprietorship, and are eligible for business cards. You can simply use your SSN for the EIN and your First/Last name for the name of the business.
Conclusion
Bookmark this, so you can go back and reference it as needed. Have a lot of exciting stuff in the pipeline! In addition to great content, I’m looking to finalize the affiliate program by Q2 latest….Hopefully much sooner!
Stay toon’d.
Disclaimer: None of this is to be deemed legal or financial advice of any kind.