Wells Fargo 5/24 Rule

The most infamous rule in all of miles and points, the Chase 5/24 rule, has long had an admirer it appears. Someone sitting in the corner, pining for the day they could have something as despised in their terms. It appears that day may have finally arrived with a new Wells Fargo 5/24 rule. Not only that, but it looks like it could be even worse than Chase 5/24!

Update 11/12/25:

After seeing some data points over the last few months, it looks like this isn't a hard and fast rule. While we are seeing a big spike in Wells Fargo denials for people over 5/24, we also had a few positive data points of people squeaking by. It seems like they are not at strict as Chase is with enforcement. Keep posting your personal data points in the ToP Facebook Group so that we can get a better grasp on all of this.

This Is Brand New So We Need Your Help

Since this Wells Fargo 5/24 rule is so new we will still need your data points shared over in the ToP Facebook Group as you apply. It looks like this rule was just put into place over the last few days so anything going forward is what we need. If you apply, let us know your 5/24 count and the application outcome.

New Wells Fargo Application Rule

As we explain fully in this article, the 5/24 rule means that Chase (and now it appears Wells Fargo) will not approve you for a new credit card if your count of new personal credit cards (and a few business cards) exceeds 5 in the last 24 months. (If you need help checking your 5/24 status, Credit Karma can be a helpful tool).

Chase has had this rule for many years, but it was always Chase's own rule. Other banks do not care about your 5/24 count, but instead have their own rules that differ from the 5/24 rule.

That means Wells Fargo had it's own set of rules that didn't really play in the 5/24 pond, until now at least.

How Does This Differ From The Chase 5/24 Rule?

We have reliable reports that Wells Fargo now has its own 5/24 rule in place. Our understanding is that it works similarly to Chase's own 5/24 rule, but Wells Fargo also counts authorized user cards in its 5/24 count.

This is very much a new development, so data points can be quite helpful here (as mentioned above). If you have any data points about applying for a Wells Fargo card starting on August 28, 2024 onwards, please let us know in the ToP Facebook Group.

This could be really horrible news for original Bilt cardholders who must now apply for a new Bilt Mastercard outright. If they delayed in applying for the Wells Fargo Bilt Mastercard, since they have until the end of the year for the bonus 10,000 points, they could be left out in the cold if over 5/24. Even if they are under, this presents another complication to their decision making process.

Wells Fargo 5/24 Rule: ToP Thoughts

They say imitation is a form of flattery, and the folks at Wells Fargo must agree with that. Like other banks, Chase has its reasons for having the 5/24 rule. This is likely based on underwriting concerns gleaned from millions of data points collected over the years from its broad customer base. I am curious about the extent to which Wells Fargo shares the same concerns as Chase when considering applications for their products. They have had some interesting new products hit the market over the last few years, do they believe they needed a safeguard because of that?

Have you been approved for a Wells Fargo card while being over 5/24? Have you been denied for a Wells Fargo card while under 5/24? Come share your data points in our Facebook group!