Chase Ink Closed - Re-Establish Relationship - First Post on MyFICO

[Anonymous]

This is my first post on myFico, and have been a member for quite a while and gained quite a bit of valuable insight on credit reporting and such. 

I had a Chase Ink for business card  with a 10k limit and ran into some business-related cash flow issues (chargebacks from customers commiting fedex/ebay fraud). I ended up with a high balance for inventory purchases and unable to pay much more than the minimums each month. This went on for well over a year and I was basically paying the interest each month. This wasn't sustainable so I called in and explained the situation. They closed the card and traded me a super low APR. I have paid the card down from nearly 10k to about 3k over the past several years and wanted to know if anyone had sucess in re-establishing a relationship or re-opening their Chase Ink business card. It would be nice to settle on an amount to have it re-opened; however, I have it almost paid of so having it converted into a usable card again would be great too. 

Any experience with this or insight would be much appreciated. 

Thanks!

[red259]

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@Anonymous wrote:

This is my first post on myFico, and have been a member for quite a while and gained quite a bit of valuable insight on credit reporting and such. 

I had a Chase Ink for business card  with a 10k limit and ran into some business-related cash flow issues (chargebacks from customers commiting fedex/ebay fraud). I ended up with a high balance for inventory purchases and unable to pay much more than the minimums each month. This went on for well over a year and I was basically paying the interest each month. This wasn't sustainable so I called in and explained the situation. They closed the card and traded me a super low APR. I have paid the card down from nearly 10k to about 3k over the past several years and wanted to know if anyone had sucess in re-establishing a relationship or re-opening their Chase Ink business card. It would be nice to settle on an amount to have it re-opened; however, I have it almost paid of so having it converted into a usable card again would be great too. 

Any experience with this or insight would be much appreciated. 

Thanks!

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I would call in and ask them. They may not be able to reopen the account at this point though given the amount of time that has passed and if so they would require a new app with HP. It is not like you stiffed them. You called them and worked out a payment arrangement, so maybe they would consider it, however they might want the old account paid off completely first. 

[Anonymous]

Welcome to MYFICO.. Since you are paying it off and it was not charged off, you have a better chance of applying for it all over again than having Chase re-open the old one.  Chase is lousy at re-opening accounts.

If you have a Chase branch near you, I'd go in and talk to a small business banker and see what option are available to you based on your situation or call the business line and they should be able to give you some insight as to what you can do.

All the best...

[Anonymous]

Opening up this post a year later. 

So I haven't tried applying for the Chase Ink again, but the card is almost paid off (small balance). 

I have added some good sized credit card accounts through other banks with success and most recently an amazon business line of credit, which was my first non-personally guranteed credit. 

Do all of the chase cards require a personal gurantee or are there any options for using only the business profile?

Thanks!