@Anonymous wrote:
@chbartel wrote:
@Anonymous wrote:
@Anonymous wrote:I run a DJ business on the side and have been since 2009. I currently use one of my personal cards to keep business expenses seperate from personal but would really like to get the Chase Ink Cash. My only concern is my revenue/sales. Since I do this on the side the annual sales I would report to them would be between $3,000 and $5,000. Do you think I could get approved? Do they have you send in any finanical statements (profit/loss, owner's equity, etc.)?
No, that is too low of an annual revenue to get approved. 99% of the INK application go for review and you will have to call and talk to a business credit analyst. Chase has the elite of the elite business credit analyst in that section who will give you an intense grilling about your business.
I hate to be this direct but until your annual revenue improves, you have no chance really...
reading this thread so it got me thinking.
My business is 4 years old, bring in approx $1 million in revenues each year, 250k-300k income. Real estate sales.
My business and personal checking have been at Chase the entire time.
My only problem is, I had some serious financial issues 5 years ago when I lost about 90 investment properties I owned
. So my report is about as clean as it can get, multiple foreclosures in past, etc. EVerything on report is paid now, but still just now hitting a middle personal score of 650. I should have in the mid 700's in a year.
Business credit is perfect, 11 tradelines reporting to D&B, 8 with Experian. 80 Paydex and a 90 Experian score. I was approved for $20k BJ's mastercard with no personal guarantee and no personal credit pull.
What are chances with Ink? Do they look only at personal scores and throw it out with all other things considered?
For the Ink, Chase will pull your personal report as you have to personally guarantee it. Do you have 6 figures in your personal and chaecking accounts at Chase? Have you burned Chase? With the foreclosures, was any of the loans through Chase?
no bad accounts with Chase, actually I have 2-3 credit card accounts that were always paid on time but I closed out 8-9 years ago, although I don't remember why.
usually middle to high 5 figures on checking account.
