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How Many Credit Checks is Too Many for Chase?

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When applying for new credit, lenders will conduct a hard inquiry on your credit report to assess your creditworthiness. This results in a hard credit check that can temporarily lower your credit score. Many consumers wonder – how many hard credit checks is too many before it starts negatively impacting your ability to get approved for credit cards and loans? In this article, we’ll explore this question specifically for Chase credit card and lending applications.

What is a Hard Credit Check?

A hard credit check, also known as a hard credit inquiry, refers to when a lender accesses your full credit report from one of the three major credit bureaus – Experian, Equifax or Transunion. This gives the lender comprehensive information about your credit history, payment patterns, amounts owed, length of credit history and other financial details.

Hard checks are nearly always required when applying for new credit, including credit cards, auto loans, mortgages and personal loans. The inquiry appears on your credit report and may lower your credit score by a few points. The impact is usually minor unless you have multiple hard inquiries in a short period of time.

How Many Hard Checks is Too Many for Chase?

Most lenders including Chase generally become concerned when they see six or more hard inquiries on your credit report within the past 12 months. Six hard checks in one year is often seen as a warning sign that the borrower may be overextending themselves with debt or desperately seeking new credit.

For Chase credit card applications specifically, the general guideline is no more than 2 or 3 hard inquiries in the past 6 months. Any more than that and your application risks being declined due to too many recent credit checks.

According to credit experts, here are some general thresholds for hard inquiries with Chase:

  • 1-2 inquiries in 6 months – Low impact
  • 3-5 inquiries in 12 months – Moderate impact
  • 6+ inquiries in 12 months – High negative impact

Of course, other positive or negative factors on your credit report will also affect your approval odds. But keeping hard inquiries limited is an important way to maintain a healthy credit profile with Chase.

How Long Do Credit Inquiries Stay on Your Report?

Hard credit inquiries remain on your credit report for 12 months although they only severely ding your credit score for the first 3-6 months. After that initial period, the impact dissipates over time. But the inquiry can still be seen by lenders for up to 1 year.

Soft credit inquiries, such as when you check your own credit score, are visible on your report but don’t affect your score at all

Strategies to Minimize Hard Checks

If you want to minimize hits to your credit, here are some tips when applying for Chase cards:

  • Check for pre-qualification offers: Chase and other lenders allow you to check if you’re pre-approved for certain cards without a hard inquiry. This is a “soft check.”

  • Space out applications: Wait at least 6 months between Chase applications and 2-3 months for other lenders. Avoid applying for multiple cards at once.

  • Prioritize your top choice: Only apply for your top 1 or 2 desired cards, rather than every card that interests you. Each hard check compounds.

  • Ask Chase to combine inquiries: If applying for two Chase cards on the same day, request they combine inquiries into one.

  • Monitor your credit report: Stay aware of all credit activity so you know when to slow down inquiries.

The Impact of Too Many Hard Inquiries

As a rule of thumb, Chase usually denies applications when the applicant has six or more hard inquiries within one year. The risk of rejection rises with each additional hard credit check.

Too many hard pulls can signify credit hunger and desperation. It may look like you’re applying for numerous accounts because you urgently need access to more credit. This sets off warning bells for lenders like Chase.

A flurry of hard inquiries will also chip away at your credit score by up to a few points per inquiry. This can put your score below the approval threshold for certain credit cards and loans.

Lastly, each inquiry results in a detailed review of your credit profile. If Chase repeatedly sees missed payments, high balances, or other negatives in your recent history, they may decline your application regardless of how many inquiries you have.

The Takeaway

When applying for Chase credit cards, keep hard inquiries to no more than 2-3 in the previous 6 months for the best approval odds. Any more than that and your application risks denial. Too many inquiries signals desperation or recklessness to lenders.

Always check for pre-approval offers whenever possible, and be selective when submitting applications. Monitoring your credit report regularly can help you make informed decisions about new credit opportunities. Maintain a healthy credit profile and keep hard checks to a minimum, and your Chase applications will have solid approval chances.

how many credit checks is too many for chase

Editor’s NoteThis is a recurring post, regularly updated with new information and offers.

In the points and miles world, a mention of the infamous 5/24 rule is sure to follow whenever a Chase card comes up. Essentially, this refers to the unofficial rule that Chase wont approve a credit card application for someone who has opened five or more new credit cards from any issuer in the past 24 months.

However, without any official published policy from Chase, dissecting the 5/24 rule relies heavily on crowdsourced data. Because of this, some data points are outliers. That being said, heres what you need to know about Chases 5/24 restrictions.

Are all Chase cards subject to 5/24?

Most travel cards issued by Chase are subject to 5/24 for approval, including cobranded cards. The following are cards reported to be subject to the 5/24 rule:

*The information for these cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Reader reports also indicate that applying for too many Chase cards too quickly can lead to account scrutiny and shutdowns, regardless of your 5/24 status. Some online reports have noted that Chase will not accept you for more than two new accounts within 30 days.

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Because of that, a general recommendation is to avoid applying for a new account more frequently than every three or four months.

Remember that 5/24 is not the only factor determining whether your Chase credit card application is approved. Your credit score, income, debt levels and many other variables are also considered.

For business cards, Chase also sometimes requests documentation such as financial statements or articles of organization to show that you have a legitimate business or sole proprietorship.

How Many Credit Cards is Too Many? (Revealed)

FAQ

How many hard inquiries are too many for Chase?

Since hard inquiries affect your credit score and what is found may even affect approval, you might be wondering: How many inquiries is too many? The answer differs from lender to lender, but most consider six total inquiries on a report at one time to be too many to gain approval for an additional credit card or loan.

What is the 5/24 rule for Chase?

The Chase 5/24 rule means you won’t be approved for most Chase credit cards if you’ve opened five or more credit cards (from any bank) in the past 24 months.

Is 7 hard inquiries too many?

There’s no such thing as “too many” hard credit inquiries, but multiple applications for new credit accounts within a short time frame may point to a risky borrower. Rate shopping for a particular loan, however, may be treated as a single inquiry and have minimal impact on your creditworthiness.

Will 3 inquiries hurt my credit score?

Although a single hard inquiry might only hurt your credit scores a little, multiple hard inquiries could increase the impact. And an application can lead to a hard inquiry even if the creditor denies your application.Aug 30, 2024

How many credit inquiries are too many?

The answer differs from lender to lender, but most consider six total inquiries on a report at one time to be too many to gain approval for an additional credit card or loan. In this article, we will review: What is a hard credit inquiry?

Do chase accounts count toward 5/24?

However, to determine the accounts that count toward 5/24, inquiries alone are not in play. It’s also worth mentioning that most readers would be better off maxing out their 5/24 slots with Chase before applying for cards with other issuers.

Should you get a Chase credit card if you’re under 5/24?

If a Chase credit card is in your future, and you are under the 5/24 mark, there are plenty of valuable credit cards to choose from. The Chase Sapphire Preferred® Card is an excellent option for those looking to start earning and using travel rewards for the first time.

Does opening a new Chase credit card count towards 5/24 status?

Accounts that were opened more than 24 months ago do not count toward your 5/24 status. If you only open a new account occasionally, you don’t need to have a formal plan for applying to Chase credit cards. Someone who only opens one new card per year, or one card every few years, will automatically be under 5/24.

Should you max out your 5/24 slots with Chase?

It’s also worth mentioning that most readers would be better off maxing out their 5/24 slots with Chase before applying for cards with other issuers. Even if Aaron was interested in a potential limited-time elevated offer on an American Express Delta credit card, those offers come around several times a year.

What is the chase 5/24 rule?

The Chase 5/24 rule restricts consumers from being approved for any Chase credit card products after being approved for five or more credit cards, from any bank, within a 24 month period. This may seem like nothing to worry about, but Chase credit card products, both personal and business credit cards, are considered some of the best on the market.

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