Credit Card Application Rules 2024 | Amex, Chase, Citi, & More

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The application process for credit cards can be either exciting or frustrating, and knowing the rules makes all the difference. An approval for a new rewards credit card will put you well on your way to earning free flights, hotel stays, or cashback.

On the other hand, a denial letter does nothing except temporarily decrease your credit score due to the hard inquiry performed by the card issuer.  

So in order to set you up for success, let's cover the rules for the major credit card issuers. The most important policies we will cover are:

  • the total number and types of credit cards each bank will issue to each individual
  • the timing considerations between applications
  • and the welcome bonus eligibility, or how long you have to wait between getting a bonus on the same card

Credit Card Application Rules By Bank

It is important to know there are no guarantees for approval, and there will always be exceptions to the rules. Nonetheless, even though the majority of these parameters are not formally stated or set in stone, these guidelines will greatly increase your chances on getting approved and not hurting your credit score unnecessarily.

BankMax # of CardsVelocity of ApplicationsBonuses Eligibility
American Express5 credit cards, 10 cards without a preset spending limit1 card every 5 days, 2 cards every 90 daysOnce per “lifetime” (about 7 years)
ChaseNo limit5/24 – Max 5 cards in 24 months
2 cards every 30 days
Every 24-48 months
Bank of AmericaNo limit2/3/4 – 2 cards every 2 months, 3 every 12 mo., 4 every 24 mo.24 months
BarclaycardNo limitNo restrictions6 months
Capital One2 personal cards? unlimited business1 card every 6 mos.12 months
CitiNo limit1 personal card every 8 days, 2 every 65 days. 1 biz card every 95 days.48 months
US BankNo limitNo restrictionsUnknown
Wells FargoNo limitNo restrictions16 months
credit card application rules by bank

American Express Application Rules

Military SCRA MLA AMEX Platinum

The Platinum Card® from American Express
Learn how to apply on our partner's secure site

  • Annual fee of $695* See more details about military protections for you and your spouse 
  • Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
  • Earn 5x points on airfare booked directly with airline or on amextravel.com up to $500,000 per calendar year
  • Earn 5x points on prepaid hotels at amextravel.com
  • $200 Annual Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. Note that The Hotel Collection requires a minimum two-night stay.
  • $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Disney+, a Disney Bundle, ESPN+, Hulu, Peacock, The New York Times, and The Wall Street Journal. Enrollment required.
  • $200 Uber Cash: Uber VIP status and up to $200 in Uber savings on Uber Eats and rides every year. Only available to the basic card member, Terms Apply
  • $200 Airline Fee Credit: Up to $200 in statement credits per calendar year in baggage fees and more at 1 qualifying airline
  • $189 CLEAR® Plus Credit: Breeze through security with CLEAR® Plus at 45+ airports nationwide and get up to $189 back per calendar year on your membership (subject to auto-renewal) when you use your Platinum Card®.
  • $300 Equinox Credit: Get up to $300 back each year on an Equinox+ subscription, or any Equinox club memberships when you pay with your Platinum Card. Enrollment required. Membership subject to auto-renewal.
  • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
  • Up to $100 annual Saks Fifth Avenue credit, enrollment required
  • Access 40+ Centurion Lounges and 1,400+ Priority Pass airport lounge for free
  • No foreign transaction fees
  • The Platinum Card® from American Express – learn how to apply
  • Read my full review of the Amex Platinum card for military, terms apply

American Express limits the number of credit cards you can have to 5 Amex credit cards. These can be a mix of either personal or business cards.

Here's my exact recommended order to apply for Amex cards as a military servicemember.

This 5 Amex credit card limit does not apply to cards without a preset spending limit, like the Amex Platinum card. You can have up to 10 Amex cards without a preset spending limit. I know military families with more than 11 Amex Platinum cards. Personally, I have over 7.

Cards like the The Platinum Card® from American Express and American Express® Gold Card, are different from credit cards in that they have no fixed spending limit.

You’re also supposed to pay the balance off in full every month, but American Express’s Pay Over Time feature allows you to carry the balance and pay interest just like you would with a credit card. However, carrying a balance is never advised as the interest you’ll pay will negate any of your hard-earned rewards.

It is possible to be approved for two cards in a single day, and if you’re lucky it will only result in one hard inquiry. However, you cannot be approved for two credit cards in a single day.

At least one, or both, must be a card without a preset spending limit. Furthermore, you can be approved for up to two cards in a 90 day period, with at least one being a card without a preset spending limit. 

You can receive the Amex welcome bonus for each card once per lifetime. The only exceptions to this rule are if there is a product change and the card rebrands itself, or if you see an offer without the lifetime language in the terms and description fine print.

If you see this:

“Welcome bonus offer not available to applicants who have or have had this product.” 

Amex “lifetime language”

Then you cannot get another welcome offer on this card if you got it before.

Also, pay attention to new Amex family language rules.

Chase Credit Card Application Rules

Chase Sapphire Reserve bonus

Chase Sapphire Reserve® Card
Learn how to apply on our partner's secure site

  • $550 annual fee waived to $0 for US military + spouses with Chase MLA policy
  • Earn 60,000 bonus points after you spend $4,000 on eligible purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually.
  • 3x Points on other Travel (airfare, hotels) after earning the $300 travel credit
  • 3x Dining restaurants, takeouts, delivery
  • Chase Ultimate Reward Points redeemed through Chase Travel℠ are worth 1.5 cents, a 50% bonus.
  • Priority Pass lounge and restaurant access with over 1300+ airport lounges worldwide
  • Up to $100 application fee credit for Global Entry every 4 years
  • Count on Trip Cancellation/Interruption Insurance, Primary coverage with Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
  • No foreign transaction fees
  • Learn more in the Chase Sapphire Reserve review

Chase (Chase credit cards for military) is similar to other card issuers in that they don’t limit the number of cards you can have, but they do take into consideration your total line of credit and your number of hard inquires.

You can be approved for 2 personal credit cards every 30 days. You can also be approved for 2 business cards every 30 days.

Chase also has their famous (or infamous) Chase 5/24 rule. This means they will not approve you for additional cards if you have opened more than 5 cards in the last 24 months. This applies to all of your credit cards from any bank, not only cards issued by Chase.

The one loophole is business credit cards (like from Amex or Chase) do not count towards 5/24. Chase used to limit the 5/24 rule to only certain cards, but recent data points seem to insist this rule now applies to all Chase issued credit cards. 

It is possible to receive a welcome bonus multiple times on each card, but you must wait 24-48 months between receiving the bonuses. Each card varies so review the terms before submitting your application. 

There are some other unique rules for certain Chase cards. With regards to the Chase Sapphire Preferred (CSP military review) and the Chase Sapphire Reserve (CSR military review), you are not eligible to receive the bonus on one card if you currently have the other.

In addition, you must wait 48 months between bonuses to be eligible for a new bonus. In regards to the multiple Chase Southwest co-branded cards, you must wait 24 months between receiving bonuses for any cards in the Southwest family.

Bank of America

Bank of America does not limit the number of credit cards you may have, but they do consider the number of recent hard inquires on your credit report.

There is no set number of hard inquires which will result in automatically not being approved, but the more inquires you have will result in a greater likelihood of denial.

Additionally, they do limit the total amount of credit they will extend to each individual, so you may need to shift your lines of credit from one card to the next. 

Bank of America also has what is known as the “BOA 2/3/4 rule.” This means they will not approve you for more than two cards in 30 days, three cards in 12 months, or four cards in 24 months. It is important to note this does not apply to business cards.

BOA also has the 7/12 rule. This is different in that it applies to all credit cards you have and not only your Bank of America cards. They will not approve you for an additional card if it’s going to result in you having more than seven cards opened in a 12 month period.

Additionally, you’ll need to have a Bank of America deposit bank account open at the time of application or you’ll automatically be denied for having too many recent inquiries. 

You can receive the welcome bonus multiple times on each card, but you must wait 24 months after receiving the bonus to reapply for the card.

You’re also not eligible to receive a bonus within the same family of cards within 90 days. By the same family of cards I’m referring to receiving multiple welcome bonuses from a single rewards currency, such as receiving both the Alaskan Airlines Visa Credit Card bonus and the business version of the same card within 90 days.

Barclaycard

Barclaycard is similar to Bank of America in that they don’t limit the number of cards you can have, but they do take into consideration your total line of credit and your number of recent hard inquires. 

The only other rule is you must wait six months after cancelling a card before reapplying for the same card in order to be eligible for the welcome bonus again.

Capital One

Capital One is unique in that they will only allow you to have two personal cards at any given time. There is no limit on the number of Capital One business cards.

Check out the best Capital One credit cards for military servicemembers and their spouses.

They also have the 1/6 rule, which simply means they will only approve you for one card every six months. This applies to both personal and business cards.

You can receive the welcome bonuses multiple times for each card, but you must wait one year in between receiving the bonuses.

Citi

Citi AAdvantage Executive World Elite Mastercard Military

Citi® AAdvantage® Executive World Elite Mastercard®
Learn how to apply on our partner's secure site

  • Earn 70,000 American Airlines AAdvantage® bonus miles after making $7,000 in purchases in the first 3 months of account opening
  • Admirals Club® membership for you and access for up to two guests or immediate family members traveling with you
  • No Foreign Transaction Fees on purchases
  • Earn 1 Loyalty Point for every 1 eligible AAdvantage® mile earned from purchases
  • First checked bag is free on domestic American Airlines itineraries for you and up to 8 companions traveling with you on the same reservation

Citi also does not limit your number of cards, but they do look at your total line of credit and number of hard inquiries. Check out the recently confirmed Citi military policy.

They will approve you for one personal card every eight days, and two personal cards within 65 days. For business cards, they will only approve you for one every 95 days. 

It’s possible to receive welcome bonuses multiples times as long as you wait 24 months from the time you’ve received the prior bonus.

Citi’s other rule requires a 24 month period between receiving bonuses for cards in the same family, such as American Airlines cobranded cards and cards that earn Citi Thank You points, like the Citi Prestige card for military.

Citi Premier Credit Card Military MLA

Citi Premier® Card
Learn how to apply on our partner's secure site

  • Earn 60,000 bonus ThankYou(R) Points after you spend $4,000 in purchases within the first 3 months of account opening
  • 60,000 points are redeemable for $600 in gift cards at thankyou.com
  • Earn 3 points per $1 spent at at restaurants and supermarkets
  • Earn 3 points per $1 spent on Gas Stations, Air Travel, and Hotels
  • 1 point per $1 on everything else
  • Annual Hotel Savings Benefit
  • No foreign transaction fees
  • $95 annual fee waived for military with Citi military policy

US Bank

US Bank Altitude Reserve Military MLA

US Bank does not limit your number of cards, but again will consider recent inquiries and you overall extended line of credit.

Their only other rule applies to the US Bank Altitude Reserve Visa Infinite Card. In order to be approved for this card you must have a prior relationship with the bank, which can be as simple as a owning a free checking account. 

Wells Fargo

Wells Fargo is similar in that they do not limit the total number of cards you can have, but they will look at the other normal parameters. 

You’re only eligible to receive one welcome bonus every 16 months. However, personal and business cards are considered separate entities, so you can receive one welcome bonus for each in a 16 month period.

Final Thoughts on Credit Card Application Rules

Approval for a new rewards card will give you the inspiration to begin planning new trips so you can see the world. Spencer managed to fly to Singapore, New Zealand, and Australia in business class on just points.

Opening a new card will also make you begin to think of all the things you’ll be able to do with the money you’ve saved on airfare, hotels, and cashback. Conversely, getting denied will only frustrate you and delay your future travel plans. So it’s very important to know the credit card application rules.

One last piece of advice which has greatly helped me in the past is to call reconsideration lines following an application submission that does not receive an immediate approval.

In some cases, the representative has the power to approve or deny your application on the spot. So remember to be extremely courteous and as kind as possible when asking the representative if there is anything you can do, or any information you can provide, which will help them approve you for your desired card. Best of luck with your future applications!

FAQ for Credit Card Application Rules

What is the Chase 5/24 rule?

The “Chase 5/24 rule” means you can only open a new credit card account with Chase Bank

What is the “5/24 rule” for credit cards?

The 5/24 rule refers to a Chase credit card application rule that states Chase will not approve you for an additional credit card if you have opened 5 cards in the previous 24 months from any bank.

How many Amex cards can you have?

You can have up to 5 Amex credit cards and 10 Amex cards without a preset spending limit, like the Amex Platinum card or Amex Gold card. Examples of Amex credit cards include Amex Delta Reserve, Amex Hilton Honors Aspire, and Amex Marriott Bonvoy Brilliant.

How to calculate Chase 5/24?

The easiest way to calculate Chase 5/24 credit cards is to use a free credit score app like Credit Karma or Credit Sesame. Simply count the number of open accounts in the last 24 months.

Do business credit cards count against Chase 5/24?

Usually business credit cards do not count against your Chase 5/25 status, unless they report to your personal credit report. Chase business credit cards and AMEX apparently do not count against your Chase 5/24.

How many Amex Platinum cards can you have?

Because the American Express Platinum Card is an Amex card without a preset spending limit and not a credit card, you can have up to 10 Amex Platinum cards. Personally I have 7.

Do too many open credit cards hurt your credit score?

No, and actually having a lot of open credit cards can improve your credit card because you have more access to credit, therefore lowering your credit utilization. Paying your bills in full each month and never missing a payment are the most important things to keeping a high 800+ credit score.

Is there a limit to how many total credit cards I can have?

There is no limit to how many credit cards you can have. The Guinness Book of World Records has at least 2 people with over 1,400 credit cards. Personally, I have over 30 credit cards.

14 thoughts on “Credit Card Application Rules 2024 | Amex, Chase, Citi, & More”

  1. Hey Spencer,

    Hope all is well. I was wondering how often you suggest waiting between credit card applications in order to not significantly reduce your credit score and risk not getting approved.

    Thanks!

    Reply
    • Your credit score won’t go down much with multiple application. At my fastest I was applying for a new card every month and maintained over a 780 credit score. Just make sure you can hit the minimum spend requirements to earn the welcome bonus.

      Reply
  2. Some part of this blog states you can have unlimited charge cards with Amex and other places you say you can have up to ten. Which one is it?

    Reply
  3. Spencer,

    I just discussed getting my annual fee waived with Chase for an existing account. According to their military representative, my account is not eligible for MLA because it originated PRIOR to the law. She explained it only applied to accounts that originated September 2017 or later. Is that consistent with information you received before? I ended up keeping the account but downgrading to a product without an annual fee.

    Reply
  4. Spencer,

    Have you seen the card upgrade strategy take longer than a few hours to become an option? I ve had my gold card 2 years now and followedthe steps above with no luck on getting an offer. Ive read online you can call customer service but im sure they will realize i already have a platinum card.

    Reply
    • You can call for an offer, that’s not an issue. If they say you already have a Platinum card then just say thanks for their time and hang up.

      How long have you had the card on the new account? It may take a week or 30 days to show up.

      Reply
      • Spencer,

        I figured it out. although the offer did not pop up on account home i just clicked on view all cards and the offer was the first thing I saw. Thanks for the great insight here.

        separate question do you use a spreadsheet to keep track of all the benefits? between my wife and i we are up to 12 cards now and its getting difficult to track all the benefits/credits.

        Reply
  5. If I am an authorized user on my husband’s AMEX Platinum account, am I able to apply for my own account to take advantage of the welcome bonus? I know we screwed up and should’ve just got separate accounts, but we’re new to this!

    Also, since my husband received the AMEX Platinum welcome bonus, will he be eligible for the AMEX Gold welcome bonus?

    Thanks!

    Reply
  6. Thanks for the interesting article! I’ve had my American Express Platinum for about 3 years. Last week while applying online for the Amex Hilton Aspire, a message popped up saying I was ineligible for the welcome bonus. I forget the exact wording, but something to do with previous bonuses received. It gave me the option to apply anyway so I did, but I’m wondering why no bonus? I’ve never had a Hilton card before.

    Reply
    • Hey Erica, this happens occasionally. I recommend waiting 30 days or so and then trying again. Anecdotally, my friend got the pop up when applying for a Charles Schwab Amex Platinum and was still able to earn the welcome bonus. It was automatically added to his account about 8 days after opening the new account.

      Reply
  7. Great article/post, thanks for all the great information.

    I haven’t seen one yet but do you have a post about an “exit strategy” with respect to all these cards?
    At some point, a military member will leave the service at which point they’ll no longer be eligible to certain annual fee waivers. I know one strategic move, at least with Chase cards, would be to downgrade to a lower card that doesn’t carry an annual fee. However, if you have more annual fee credit cards than non annual fee credit cards available, it would force you to close certain cards, which could potentially negatively impact (e.g. closed accounts loses available credit which could ultimately impact the credit-to-debt ratio). Thoughts?

    Reply

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