Glossary

Chase's rule: Must have ≤4 personal cards (any issuer) in 24 months to qualify for most Chase cards. Business cards from other issuers don't count, but Chase business cards do count.

Having 4 or fewer personal credit cards opened in the last 24 months. Required for most Chase cards.

Chase allows only one of each Ink variant (Cash, Unlimited, Preferred, Business Unlimited) open at a time. Can't have multiples of the same card.

Chase allows only one Sapphire card (Preferred or Reserve) open at a time. Must close one before opening the other.

Must wait 48 months (4 years) since receiving your last Sapphire bonus to be eligible for another. Time is calculated from when the bonus was earned, not when the card was opened.

Amex blocks applications due to suspected gaming behavior. You won't see application buttons and can't get new bonuses until cleared. Usually cleared by spending on existing Amex cards.

Amex rule: Maximum 2 credit cards per 90 days. Charge cards (Platinum, Gold, Green) don't count toward this limit.

Amex's policy: Welcome bonus eligibility limited to once per lifetime per card product. No bonus if you've ever had the card before, even if closed.

The fine print on Amex applications stating 'Welcome offer not available to applicants who have or have had this Card.' Indicates once-per-lifetime restriction.

Citi rule: Maximum 1 card application per 8 days across all Citi cards. Must wait 8 days between Citi applications.

Citi rule: Maximum 2 card applications per 65 days across all Citi cards.

Citi rule specific to American Airlines cards: Maximum 1 AA card application per 24 months. Applies only to AA co-branded cards.

Citi's inquiry sensitivity: May auto-deny if you have 6+ hard inquiries in the last 6 months. Not a hard rule, but increases denial risk.

Citi's bonus rule (similar to Chase Sapphire): Must wait 48 months since receiving the last bonus to be eligible for another on certain card families.

US Bank rule: Denies applicants who have opened any new accounts (cards or bank accounts) in the last 6 months. Very inquiry-sensitive.

US Bank rule: Prefers applicants who have opened 0 new accounts in the last 12 months. Not a hard rule, but increases approval odds.

Barclays tends to deny applicants with 6+ new accounts in 24 months. Not a hard rule like Chase 5/24, but increases denial risk.

Capital One rule: Maximum 1 card application per 6 months. Cap1 is also known for 'bucketing' - limiting credit based on credit profile.

Credit card issued to a business (even sole proprietorships). Doesn't report to personal credit for most issuers (except Capital One), so doesn't count toward 5/24.

Credit card issued to an individual. Reports to personal credit bureaus and counts toward Chase 5/24 and most velocity rules.

A card with no preset spending limit that must be paid in full each month (like Amex Platinum, Gold). Doesn't count toward Amex 2/90 rule.

Sign-Up Bonus. The welcome offer for opening a new card, usually points or cash back after meeting minimum spend.

Minimum Spend Requirement. The amount you must spend within a certain timeframe to earn the sign-up bonus.

Ultimate Rewards. Chase's points currency, transferable to airline and hotel partners. Used by Sapphire, Freedom, and Ink cards.

Membership Rewards. Amex's points currency, transferable to many airline and hotel partners.

ThankYou Points. Citi's points currency, transferable to select airline and hotel partners.

Cents Per Point. The estimated redemption value of points. Example: 1.5 cpp means 10,000 points = $150 in value.

Credit pull that appears on your credit report and may lower your score by a few points. Stays on report for 2 years, affects score for 1 year. Also called 'hard pull' or HP.

Credit check that doesn't affect your score and isn't visible to other lenders. Used for pre-approvals and account monitoring.

Application rejected. Card not approved. May be due to velocity rules, credit score, income, or issuer-specific policies.

Application neither approved nor denied yet. May require additional review or documentation.

Instant approval without needing additional review. Best outcome for applications.

Opening credit cards for sign-up bonuses, then canceling or downgrading after a period. Requires managing velocity rules carefully.

The pace at which you open new credit cards. Too fast can trigger denials or popup jail.

Intentionally slowing down card applications to improve approval odds or get out of popup jail.

Changing a card to a different product from the same issuer without a new application. Doesn't count toward velocity rules.

Converting a card with an annual fee to a no-fee version (e.g., Sapphire Reserve → Freedom Unlimited). Avoids hard inquiry.

Converting a card to a premium version with higher annual fee. Usually doesn't come with a sign-up bonus.

Yearly cost to keep a card open. Often waived the first year. Decision point: is the card worth keeping?

Annual fee waived for the first year. Full fee charged starting year 2.

Bonus offered by issuer when you call to cancel a card. Used to retain customers. May be points, statement credit, or reduced annual fee.

Card account that has been canceled. No longer active but still shows on credit history.

Active card account that can be used for purchases.

Average Age of Accounts. The average age of all your credit accounts. Older is generally better for credit score.

Percentage of available credit being used. Lower is better for credit score. Aim for under 30%, ideally under 10%.

Someone added to your card who can make purchases but isn't responsible for payments. AU accounts may or may not count toward 5/24 depending on how they report.