Sort of. The best-known 5/24 rule is Chase’s unpublicized rule that states that if you have five or more new bank card accounts (credit or charge cards) opened within the last 24 months, you’ll most likely be rejected for a new Chase credit card even if you otherwise qualify. The Citi rule is not quite as harsh. The Citi rule makes it a tad more difficult to open new card accounts and receive a signup bonus during a short window. Through Citi, you must wait at least 24 months after opening or closing a card to get a bonus on any other card issued by Citi. This includes co-branded credit cards, such as those offered in partnership with American Airlines. So, this is more of a 24 rule than a 5/24 rule. Online applications for the best Citi credit cards can offer near-instant credit decisions on the same browser window you apply on. Once you complete your application — which typically takes between five and 10 minutes — Citi will begin the ultra-fast process of automated underwriting. This typically takes between 10 and 30 seconds. During that time, you will see a spinning wheel on your screen that denotes a processing application. Do not refresh your screen during this process, as it could result in a lost application.