Some sole proprietors report a new Chase 3/24 approval cutoff

If you are a sole proprietor eyeing a Chase Ink card, read this before you apply. Since around mid-September, some cardholders have reported the same pattern: Chase turning down business applications that many say would have been approved a month ago, with reconsideration reps reportedly citing what they call a 3/24 cutoff.

Quick refresher, since plenty of us half-remember this one. Chase's unofficial 5/24 counts the new personal credit card accounts on your credit reports in the past 24 months, any issuer, counting even if you later closed them. At five or more, Chase generally will not approve you for many of its cards. One wrinkle for the business crowd: most business cards never hit your personal credit reports, so they usually do not add to your count, though Chase still checks that count on its own business card applications. What people describe now is that same math, with the business bar reportedly at 3/24 and applications at or above it reportedly getting denied.

Two things worth keeping straight. The reports cluster around sole proprietors, how most freelancers and side-hustlers file, and it is unclear whether the same reaches an LLC or a corporation. On the personal side, there is no indication Chase has changed how 5/24 applies to personal cards, so this report alone is not a reason to rethink your plans for one.

Even under the threshold, approval was never guaranteed: Chase also weighs credit history, income, business details, recent applications, and existing Chase credit. If the reports hold, applicants at 3/24 or above may face a higher risk of denial. In your favor, a denied application does not add to your count, since no account was opened, but it can still cost a hard inquiry. So if you are at 3/24 or above and would rather not spend a hard pull while things are unsettled, waiting for more data points is the cautious move.