Chase Is Making Some Changes

Recently Chase has made it more difficult for those of us who open credit cards for the miles. Credit cards directly from Chase have been added to a rule called the 5/24 rule by many. Their policy of 24 months before being eligible for a signup bonus again ha been in place for a while now. The 5 part of the rule is fairly new, meaning you can't have more than 5 Chase cards open at once. Mainly this was focused on Chases own products like the Sapphire card, Freedom Card, and really any personal card branded by them.

Now it appears that Chase is on the verge of adding partner branded cards to this rule as well. So if you have a Marriott, Hyatt, IHG, United, or more; these are all subject to the new rules in a few months. This is going to make things more difficult to work with, but in order to make things work for us, we'll adapt to the new rules.

Under these new rules there are basically 2 ways to go from here. We can hold very few Chase cards, sign up for new cards and then bail on them before you plan to get your next card. The other option is to hang on to cards and get points based on spending, this may be a better option for those cards you don't use too often.

I'm personally trying to figure out my strategy. I have the Sapphire and IHG cards right now. That leaves me a few open spaces to fill. Marriott has a great signup bonus currently, Hyatt is one I may want to take advantage of for my trip to Beijing as it comes with 2 free nights in Category 1-4 hotels. United is the other card that I want to grab for the signup bonus. If I play this correctly I think the United card will be the one to bail on. I almost never fly United, and if I do it'll be in business class, so the benefits of the card aren't really what I'm looking for long term.

Hyatt is more of a backup chain for me after SPG and probably warrants keeping the card. Marriott is a great bonus, but might be worth keeping in the short term, long term will have to be seen when they figure out what is going to happen with SPG program when they merge with Starwood hotels, so this is another potential churn position. IHG is my go to when anyplace off the beaten path since they are everywhere. The IHG card is low cost, has pretty good benefits and really begs to stay int he wallet.

So for now the strategy is to grab some Chase cards and have 1-2 positions open to move cards in and out of the wallet. 5 card slots is enough to work with I think but we'll have to see what the details of the new rules are going to be when they are released in a few months.

Rocket Scientist, Travel Junkie, and Ruler of the 4th Moon of Omicron Persei 8