There’s no doubt that the 5/24 rule has been a HUGE hit to those of us who rely heavily on credit card sign-up bonuses to maintain a hefty points and miles balance. This became ever clearer with the unveiling of what’s been called ‘the best travel and points credit card’: the Chase Sapphire Reserve from Chase. I was way over 5/24 at this point, so there was no guarantees for me. DoC reported the mention of this Chase rule on the CSR’s application page, and also reported on ways to bypassing the rule, including in-branch pre-approval offeres, targeted offers, and others… I took some time to think about what to do.
While the benefits are undeniable (and especially for me since I travel United and Star Alliance A LOT), I stepped back an looked at my year as a whole. My wife and I earned millions of points/miles by being aggressive with credit card applications and other tools. I even felt it was too aggressive, and I promised myself I would cool it off for a while and be more reactive rather than proactive, to ensure that 1) my credit remained in excellent status, and 2) I didn’t become a target for any sort of misuse or abuse (I felt good about my decision, especially after I read this). Also the timing was just all wrong. I had a timeline already out about when and how I would apply to cards to be under 5/24 as soon as possible. Then the CSR came out and made me think twice about it all. But after a couple of weeks of thinking about it, I stuck to my guns and desisted from applying for the card (even through the bypassing channels), in part trusting that Amex and Citi would somehow respond at a later date and I’d have more opportunities for great sign-up bonuses and benefits.
Well I wasn’t dissapointed! Amex did respond and I was able to apply for the Amex Business Platinum card (which doesn’t count toward 5/24) and earn 100k MR point bonus. Also, my wife applied for the personal Amex Platinum card and earned the 100k MR points bonus (see this post from MTM on how to avoid Amex clawbacks). Both cards introduced new benefits in response to Chase’s CSR that made it all ok. I’m very happy I didn’t elongate the time under 5/24 one bit, and in my wife’s case the timing of applying for the Platinum card will not make a difference in her 5/24 breakout either. We’re happy campers!
What about you? Are you feeling the loss of a great opportunity? Well, don’t worry about it. There’s always light at the end of the tunnel in our hobby, and we’ll make sure to make it count. With or without the CSR we can still remain points and miles FIT!