1st Africa Data Protection Conclave set to hold October 15th and 16th

… has since January 2019 seen a meteoric rise in data protection compliance and active citizen participation in the protection of their personal data.

Standard Chartered in collaboration with Visa, has today launched a new ‘Safe is Smart’ campaign, aimed at encouraging the adoption of eCommerce solutions, as Nigeria journeys onto economic recovery.

This campaign will promote and educate consumers on smart ideas and e-payments solutions that will drive sustainability, survival and business recovery in the e-payments ecosystem.

Following the impact of the Covid-19 pandemic, the campaign also seeks to provide convenient and secure cashless payment alternatives through the Standard Chartered Visa Debit card, QR payment solutions and the Standard Chartered digital banking mobile app.

Commenting on the partnership, David Idoru Head of Retail Banking at Standard Chartered West Africa, noted that it is important to increase consumer awareness on the safety of cashless payments solutions. “eCcommerce transactions make a large percentage of consumer spend and we want to be able to support consumers through our digital solutions to help them make smart financial decisions especially during the Covid-19 period. Our retail banking business is heavily focused on championing a digitized payments revolution to provide convenience and access to our customers especially through our fully digital mobile app.

This partnership with Visa also further emphasizes our commitment to the financial wellbeing of our clients, as Standard Chartered Visa Card holders, will enjoy numerous benefits including points earned using our 360 rewards program and zero surcharges at the point of sales through the ‘Safe is Smart’ initiative, he added.

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“The reality of the Covid-19 pandemic has presented a new shift in consumer behavior and through our network, we want to ensure that consumers are embracing the most secure payment solutions. Data from our Covid-19 impact tracker reveal that digital payments are on the rise, as more people now choose digital payments over cash transactions. The survey revealed that 39% of consumers in Nigeria started purchasing groceries online, 42% started purchasing food delivery online, while 43% of consumers started purchasing from pharmacies online for the first time” says Kemi Okusanya, Vice President Visa West Africa.

“The next evolution of payments is going to be driven by collaborations with financial institutions like Standard Chartered Bank. In a time as critical as this, our goal is to continuously foster innovation driven by technology to meet consumers’ every day needs, while driving the economy to recovery through accelerated eCommerce transactions,” she added.

Standard Chartered and Visa has since the pandemic continued to roll out initiatives that will help consumers and merchants mitigate and drive progression towards economic recovery.

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About Standard Chartered

We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, https://www.visa.com.ng/ and @VisaAfrica.

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Corporate Communications Contact

Dayo Aderugbo

Head, Corporate Affairs, Brand and Marketing Standard Chartered Bank Nigeria

+ 234 802 931 4012

[email protected]


Niyi Adebiyi

Corporate Communications


Visa Sub-Saharan Africa

Mob: +2348166109761

E-mail: [email protected]

Chase 5/24 Rule: What You Need To Know (2020)

This is a page that’s part of Credit Karma’s older interface that isn’t otherwise accessible off the main site anymore, and it’s also the only part of the site …
In the interest of full disclosure, OMAAT earns a referral bonus for anyone that’s approved through some of the below links. These are the best publicly available offers (terms apply) that we have found for each product or service. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, hotel chain, or product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Please check out our advertiser policy for further details about our partners, and thanks for your support!The offer for the IHG® Rewards Club Premier Credit Card has expired. Learn more about the current offers here.

The major banks have all kinds of rules when it comes to approving people for credit cards. Probably the most well known of these rules — and also the most complicated to understand — is the Chase 5/24 rule.

In this post I wanted to take a closer look at how exactly this rule works, how you can check your 5/24 “status,” and the best strategy to take when applying for Chase cards in light of this.

You’ll want to understand the Chase 5/24 rule if you plan on applying for one of Chase’s popular cards, like the Chase Sapphire Preferred® Card or Ink Business Preferred® Credit Card.

In this post:

What is the Chase 5/24 rule?

The Chase 5/24 rule limits your ability to be approved for Chase credit cards, based on how many other cards you’ve applied for in the past two years. With the 5/24 rule, you typically won’t be approved for a Chase credit card if you’ve opened five or more new card accounts in the past 24 months.

Why does Chase have the 5/24 rule? Well, all credit card issuers have rules in place to attract new cardmembers. Given how generous sign-up bonuses are on many cards, they create certain rules and restrictions intended to encourage profitable consumer behavior.

While Chase has never publicly explained this, my assumption is that customers are more likely to be profitable if they fall under the 5/24 limit. Of course, there’s no perfect system, but it seems that Chase’s metrics suggest this is working, because the rule has been expanded significantly since it was first introduced several years ago.

Which cards are subjected to the Chase 5/24 rule?

Nowadays virtually all Chase cards are subjected to the 5/24 rule. When the Chase 5/24 rule was first introduced only certain cards were subjected to it, but in 2018 the rule was expanded to all Chase cards.

Some of Chase’s most popular personal credit cards (which are subjected to this rule) include the following:

Some of Chase’s most popular business credit cards (which are subjected to this rule) include the following:

Are business cards subjected to the Chase 5/24 rule?

This is a point that confuses people. As you understand by now, Chase’s 5/24 rule means that you won’t be approved for a Chase card if you’ve opened five or more new card accounts in the past 24 months.

There’s an exception, though — most business card applications (from Amex, Bank of America, Barclays, Chase, and Citi) don’t count towards the 5/24 limit. Why? Because business accounts opened with these issuers typically don’t show on your personal credit report.

However, if you want to be approved for a Chase business card, you’ll still need to be below the 5/24 limit, based on what’s counted.

To summarize:

  • Chase business cards are subjected to the 5/24 rule, meaning that you can’t be approved for them if five or more new card accounts show on your personal credit report in the past 24 months
  • When you do apply for a Chase business card, it won’t count as an additional card towards that limit (because it won’t show on your personal credit report)

In case that’s still confusing, let me give an example:

  • If you’re at 4/24 (based on four cards showing on your personal credit report) and you apply for a Chase business card, you’ll still be at 4/24
  • You could then apply for another Chase business card, and even if you’re approved for that, you’ll still be at 4/24
  • If you then apply for a Chase personal card, you’ll be at 5/24 (since the personal card shows on your personal credit report)

How do you check your Chase 5/24 status?

For some people it can be tough to determine if you’ve opened five or more new card accounts in the past 24 months. Furthermore, it’s not like Chase can tell you if you’re at the limit or not, given that the limit is based on your applications with all card issuers.

What’s the best way you can determine if you’ve surpassed the Chase 5/24 limit or not? My preferred way of looking it up is through Credit Karma. You can register for Credit Karma for free, which is an easy process.

You’ll just need to enter some personal information and then verify some security questions, all of which should take just a couple of minutes.

Once you’ve registered and are logged into your Credit Karma account, follow this link. This is a page that’s part of Credit Karma’s older interface that isn’t otherwise accessible off the main site anymore, and it’s also the only part of the site that will show you the accurate info you need.

This page will show your entire card history. On this page, click the “Open Date” button, which will sort all of these accounts based on when they were opened (if you push it twice you’ll see the most recent inquiries at the top, rather than at the bottom).

That will show you all the cards you’ve opened. For example, in my case, here are my most recent card openings:

  • I opened my most recent card on December 13, 2019
  • I opened my second most recent card on October 29, 2019
  • I opened my third most recent card on October 6, 2019
  • I opened my fourth most recent card on October 1, 2019
  • I opened my fifth most recent card on June 4, 2019

In other words, if I didn’t apply for any other cards, I would once again be under the 5/24 limit 24 months after June 4, 2019 (which puts me to June 2021).

It is worth noting that it can sometimes take a while for recent applications to show on your credit report, so if you’ve applied for a card in the past few weeks, it may not be on there yet.

Chase 5/24 rule FAQs

There are some further nuances when it comes to Chase’s 5/24 rule, so I think those are probably best addressed in the form of some frequently asked questions.

Are there exceptions to Chase’s 5/24 rule?

Nowadays there aren’t any major exceptions to Chase’s 5/24 rule. In the past being a Chase Private Client or getting a targeted offer was potentially a workaround, but that’s not the case anymore.

Do mortgages, loans, etc., count towards the 5/24 limit?

Chase’s 5/24 rule is based on having opened five or more new card accounts in the past 24 months. Other credit inquiries, including car loans, mortgages, etc., don’t count towards the 5/24 limit.

How long after falling under the 5/24 limit should you apply for a card?

I recommend waiting until the beginning of the following month after you fall under the 5/24 limit before applying for a card.

In other words, if your fifth most recent card application was on June 4, 2019 (as is the case for me), then 24 months from then would be June 4, 2021. However, I’d wait until July 1, 2021, to apply for a card, since often falling underneath the limit isn’t instant.

Does Amex have a 5/24 rule?

The 5/24 rule is specifically a Chase credit card approval guideline. Every card issuer has different restrictions on approving members for cards, though the 5/24 rule is only a factor when applying for Chase cards.

Does product changing a card affect the 5/24 limit?

There can be a lot of value to product changing or downgrading a credit card, since this allows you to preserve your credit history (which can be good for your credit score). If you do product change a credit card — whether a Chase card or not — does this count as a further card towards your 5/24 limit?

The answer is that it depends — if there’s a hard pull and/or your card number is changed, then it will typically appear on your credit report as a new account, and would count towards that limit. Meanwhile if there’s no hard pull and the card number stays the same, then generally it wouldn’t count as a card towards that limit.

Does being an authorized user on a card count towards the 5/24 limit?

If you’re the authorized user on someone else’s credit card, does that count towards the 5/24 limit? Unfortunately it usually does, at least in situations where you need to provide your social security number to be an authorized user. This can be a reason to minimize the number of cards on which you’re an authorized user.

Do charge cards count towards the 5/24 limit?

Yes, charge cards count towards the 5/24 limit, unless they’re business cards. For those of you not familiar with charge cards, some Amex cards are designated as such, and the distinction is that you have no set credit limit, and you have to pay your balance in full every month.

Since these cards still show on your personal credit report, they would count towards the Chase 5/24 limit.

Can you be added as a Chase authorized user if you’re over the 5/24 limit?

If you’re over the 5/24 limit you can still be added as an authorized user on someone else’s Chase cards. You just can’t outright be approved for your own Chase card.

What is the Chase 2/30 rule?

With Chase’s 2/30 rule, you will typically be approved for at most two personal Chase cards in a 30 day period (and you can typically be approved for at most one business card in that period). This is an additional restriction for Chase approvals, beyond the 5/24 rule.

Best Chase 5/24 credit card application strategy

With most questions about the Chase 5/24 rule (hopefully) answered, I wanted to provide some advice for the best approach to take towards credit card applications in light of this restriction.

Apply for Chase cards before other cards

While all major card issuers have application restrictions, Chase’s restrictions are the strictest when it comes to considering the cards you’ve applied for with other card issuers. As a result I’d recommend applying for Chase credit cards early on in your credit journey.

In other words, if you’re interested in cards from Amex, Chase, and Citi, pick up the Chase cards first.

Apply for Chase business cards before personal cards

If you’re interested in applying for both personal and business Chase cards, make sure you apply for business cards first. As explained above, while both personal and business Chase cards are subjected to the 5/24 rule, applying for a Chase business card doesn’t count as a further card towards that limit. That’s because a Chase business card won’t fully display on your personal credit report.

In other words, get the Ink Business Preferred® Credit Card before you get the Chase Sapphire Preferred® Card.

Apply for “hub” Chase cards first

There are so many great Chase cards, so it can be tough to choose which card to apply for first. You’ll want to be sure you get the “key” cards first, which can help you maximize the value of other cards, especially within the Ultimate Rewards ecosystem.

If you’re looking for a personal credit card strategy:

If you’re looking for a business credit card strategy:

Chase 5/24 rule bottom line

Chase has a lot of great travel rewards credit cards that are worth acquiring for anyone looking to maximize their credit card strategy. When it comes to being approved, the 5/24 rule is the most important restriction to understand. With this, you typically won’t be approved for Chase cards if you’ve opened five or more new card accounts in the past 24 months.

Hopefully the above answers any of the questions you may have about this rule, so that you can get the best Chase cards possible.

What has your experience been with the Chase 5/24 rule? Do you have any questions about the rule that I haven’t answered?

Rapyd reveals new end-to-end card acquisition services

The financial technology firm Rapyd has announced that its platform will be going on a step further thanks to new end-to-end card acquisition facilities …
Daniel Webber
Daniel Webber

Founder & CEO
Daniel is Founder and CEO of FXcompared and FXC Intelligence and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors.… Read more
  • Rapyd’s European e-commerce merchants will now be able to offer full-stack payment services, including Mastercard and Visa.
  • The move brings Rapyd’s European offer into line with its offer in other major markets such as the UK and Singapore.
  • A senior figure at the firm said that the move was important given the changing business times.

The financial technology firm Rapyd has announced that its platform will be going on a step further thanks to new end-to-end card acquisition facilities in Europe.

Customers in European markets will now be able to enjoy an extended range of payment options at many merchants thanks to Rapyd’s bolstered accepted method range.

The firm’s platform is now ‘full stack’ in this regard.

The development means that customers will be able to pay using major names such as Visa and Mastercard.

It also means that regional Alternative Payment Methods (APMs) can be used.

These differ from place to place, but Rapyd’s full-stack function is compatible with the APMs of 100 nations.

Rapyd’s customers are online merchants and e-commerce providers.

The firm also caters to marketplace-style websites that bring together providers for consumers to choose between.

It provides those organisations with easily adaptable payment options that are suitable for local market demands and preferences.

This is not, however, the first time that Rapyd has made such an expansion in a key market.

It has already announced that it will be offering full-stack payment services in the UK.

Other countries in which Rapyd’s full-stack option is available include Asian nations such as Singapore and India as well as key Latin American markets such as Brazil and Mexico.

In a statement, Sarel Tal, who is the general manager for the Europe, Middle East and Africa region at Rapyd as well as its vice president, shed some more light on the wider context of the decision to expand full-stack services to Europe.

He said that e-commerce providers were facing a series of important decisions about digitalisation – and that full-stack payments could help.

“European merchants are at a crossroads and need to fully embrace digital commerce to thrive as consumer shopping, and payment preferences are changing rapidly,” he said.

He also explored the international angle of the digitalisation question, and emphasised that full-stack payment solutions could lead to improved international money transfers for customers and merchants.

“Compensating for the loss of in-store business, merchants need to quickly expand into global markets to pursue cross-border sales opportunities, significantly improve conversion rates and reduce cart abandonment,” he said.

He finished by explaining the benefits to users of adopting a full-stack platform such as Rapyd.

“Rapyd solves the complexity of payments and can even eliminate the number of payment providers merchants must work with as they implement global expansion plans,” he said.

Whatever your reason for needing an online money transfer, you can make sure that you get the best deal for your circumstances by heading over to our reviews page – you can find it here.

International Monetary Playing cards and Fee Techniques Market – Present Impression to Make …

International Monetary Playing cards and Fee Techniques Market Forecast. Get Full Desk of Content @:. READ Surging Chainlink Pushes bitcoin cash …

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Welcoming Marcus Hughes, our new GM for Europe

On the regulatory front, in 2018 Coinbase became the first crypto company to meet the exacting standards of the UK Financial Conduct Authority (FCA) …

Today, we’re sharing the next phase of our European journey by announcing new leadership for our European operations. Marcus Hughes, who currently serves as General Counsel for our international operations, has stepped into the role of General Manager for Europe. In this role, he will be responsible for continuing to scale our operations across Europe, along with bringing to market the products and features that our customers want.

It has been a busy few years for Coinbase in Europe. Last year, we rolled out Coinbase Card, a Visa debit card that lets customers in the UK and 26 European countries spend crypto as effortlessly as the money in their traditional bank accounts. We were also approved as a Visa principal member, a first for a crypto company.

On the regulatory front, in 2018 Coinbase became the first crypto company to meet the exacting standards of the UK Financial Conduct Authority (FCA) and receive an E-Money license, and to be given access to the Faster Payments Scheme (which allowed our customers to benefit from seamless, instantaneous deposits and withdrawals). A little over a year later, we again blazed a trail for the crypto space by being one of the first financial services companies to be given an E-Money license in Ireland.

For the past two years, Marcus has led numerous complex projects for Coinbase around the world as we have grown internationally. He has also been responsible for establishing and maintaining our regulatory relationships across multiple regions, working closely with regulators to educate them on crypto and advocating for appropriate regulation. Prior to joining Coinbase, Marcus spent almost a decade at Morgan Stanley, where he was an Executive Director in its legal and compliance division and specialised in electronic trading across equities and fixed income.

Marcus moves into his new role as our current European lead, Zeeshan Feroz, transitions into a new phase of his journey with Coinbase. After leading in the region for more than three years and driving many of the initiatives mentioned above, Zee is shifting into a role as a strategic consultant for the company. In this new position, he’ll draw from his years of experience with Coinbase and other roles to help the company on a range of projects.

Please join us in congratulating Marcus on his new role, and recognizing Zee for his tireless efforts to bring access to the cryptoeconomy to our customers throughout Europe.