Updated: 04/09/18

About two years ago Chase started enforcing, what is now famous as the 5/24 rule. Basically, this means that if you have opened 5 or more credit cards within the last 24 months, Chase will not approve you for a new credit card. For more information on this topic read this post.

There aren’t many exceptions to this rule. One common exception, though,  is that if you were pre-approved in the bank (not by email) for a Chase credit card then that will bypass the 5/24 rule.

I had previously posted a trick on how to trigger a Chase pre-approval which I saw people had much interest about, so I’ve decided to share some more details on this topic.

The Trick

I have heard that if you withdraw a big amount of money from your chase bank then that might trigger a pre-approval. I, at the time, did not want to risk it. But about a year and a half ago I bought a house, so I had to withdraw large funds from Chase. About a week later I went back to the bank, and bingo, I was pre-approved for any Chase credit card. That was about the time when there were rumors that Chase would release the Chase Sapphire Reserve credit card in the near future. I decided to wait ‘till the card was released, I applied, and was approved! This happened even though I was way over 5/24!

Sometime later my friend also bought a house. I told him to try this trick and he had the same results! So in my experience, I saw this trick work like magic.

Trick Details

My friend and I withdrew our funds in the same method, so this may be crucial in order to trigger the pre-approval. Therefore, I am sharing the details with you.

  • We transferred the money to a different bank.
  • The transfer was for a sum between $30,000 and $50,000.
  • This sum that was transferred (withdrawn) was all or almost all of the money in the account.

My Theory

The reason as to why I think this trick triggers a Chase pre-approval is because Chase probably thinks you have something against them. (Possibly because they did not approve you for a credit card, so you feel unvalued.) Therefor they are trying to make it up to you by issuing you a pre-approval.

If you have any additional questions or if you’d like to share your experience, just enter them in the comments.

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