To me it would make complete sense for Chase to exclude this from 5/24. The point of the 5/24 policy was to exclude freeloaders (from their perspective at least)...those who will get a card with first year annual fee waived, earn the signup bonus, then cancel a year later. However, with this card's steep annual fee, it's not free money like other cards (although overall the value is better). Besides, the very customers who would be interested in this card are more likely than not over the 5/24 threshold. I'm at 7/24, so I'm going to pause my other signups for now and hope I can somehow sneak by.