Applying for a new credit card can be an exciting process. Wondering what type of credit line you’ll qualify for and the interest rate you’ll receive can make even the most seasoned and experienced cardholder gain a sense of excitement that makes them feel like a little kid. The process isn’t always this exciting, though. If you’re relying on a new card to make a large purchase or cover an unexpected expense, the anticipation of finding out whether or not you’ve been accepted at all outweighs any type of thoughts about the specifics. Applying for a card is infinitely more fun when you know you will be accepted.

But what happens when your credit score is solid, you don’t have any financial red flags that you are aware of, and yet, you’re still denied for that brand new Chase card that you’ve had your eye on? Chances are, you’ve fallen victim to the “5/24” rule that Chase uses to scrutinize existing and prospective cardholders. While Chase doesn’t have anything written about this policy, data from tens of thousands of applicants points towards an adherence to the 5/24 rule. What this means is that Chase will deny an applicant if they have been approved for five or more new credit cards within the last twenty-four months. These cards do not need to be Chase cards, as any card issuer will count towards a violation of the 5/24 rule.