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Chase Ink ?

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Anonymous
Not applicable

Re: Chase Ink ?


@iDShaDoW wrote:

@mongstradamus wrote:
Maybe its the no prior history i have scores around the same as your but many more HP, but I was aprroved back in october no problem. 

Was it an instant approval or you called/waited and got an approval?  I've read that they for the most part don't give instant approvals on their business cards anymore.

 


@yesi-ts-me wrote:

Call them and ask them you faxed the information in and wanted to see if there is something else needed to make the decision ( The intent of the call actually is to poke and know whether a decision has been made).  Call them and don't wait.


 

Yeah, I'm gonna check with the automated line and then give them a call when I work up the nerve to lol.  I've just read that they ask tons of questions about your business and wanna be ready for it when I do decide to call in.


Ok.. Don't be nervous.  They asked me how long I was in business, last year gross, # of employee, what the card will be used for etc..  I hope it helps and keep us posted.

Message 11 of 22
mongstradamus
Super Contributor

Re: Chase Ink ?


@iDShaDoW wrote:

@mongstradamus wrote:
Maybe its the no prior history i have scores around the same as your but many more HP, but I was aprroved back in october no problem. 

Was it an instant approval or you called/waited and got an approval?  I've read that they for the most part don't give instant approvals on their business cards anymore.

 


@yesi-ts-me wrote:

Call them and ask them you faxed the information in and wanted to see if there is something else needed to make the decision ( The intent of the call actually is to poke and know whether a decision has been made).  Call them and don't wait.


 

Yeah, I'm gonna check with the automated line and then give them a call when I work up the nerve to lol.  I've just read that they ask tons of questions about your business and wanna be ready for it when I do decide to call in.


I just waited it out and called automated line after an few days and was approved for 15k. I don't know if they are cracking down on business cards now or not i was reading in FT fourms that they were who knows. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 12 of 22
iDShaDoW
Regular Contributor

Re: Chase Ink ?

Welp, just spoke with a friendly woman and she said that normally it takes 7-10 days for them to process any sort of faxed/mailed information that they requested and she asked when I had sent it.

 

She put me on hold for a few so she could find out if they received it yet and came back and said they hadn't processed it yet.  She then mentioned that I should hear back in 7-10 via mail with my approval/card if so.

 

Guess I'm stucking checking the automated line for an update each day (I get the "your application is under review and you'll hear in 7-10 via mail" message).  Some people seem to believe that that's indicative of a denial and that the "2 weeks" message means you're approved although someone claims they've gotten the 7-10 message and got approved.

 

Will keep you all updated when I get something in the mail and if a recon call will be needed.  The representative didn't ask me any other information about my business.





Message 13 of 22
Revelate
Moderator Emeritus

Re: Chase Ink ?

Interesting.

 

They were apparently pitching them to people with Chase accounts who opened a Chase business checking account back when I got mine in April of this past year; when I opened the account the banker stated I was pre-approved for any of them, easy sell.

 

I haven't used the account much except for legit business expenses so we're talking a few hundred a month tops, but they did give me an auto-CLI last week from $5000 -> $6500 so it doesn't appear that they're trying to reduce their exposure although I am admittedly a data set of 1.

 

I would still suggest the path to Chase anything is building the relationship with them if you aren't gold-plated (I sure as hell am not, actually my personal FICO's have dropped 10-20 points from when I was approved) even if it's with a dinky $500 Freedom and a bare bones checking account or whatever.

 




        
Message 14 of 22
iDShaDoW
Regular Contributor

Re: Chase Ink ?

Updating as promised.

 

Checked the automated line again and the message changed to: "We received your application mm/dd/yyyy.  You will be notified in writing of our decision in approximately 2 weeks."

 

If people are correct with the different automated messages meaning particular things, then seems like I'm approved at this point...

 

My FICO is fairly high, no derogatories, low utilization (<1%).  However my DTI ratio may be kinda high depending on what is factored in - student loans plus an auto loan that I basically signed for for my brother intead of co-signing it.  Everything paid on time.

 

Would like to call them and ask if I was approved and then request expedited mailing of my card but don't want to open that can of worms and have them start drilling me on my business.





Message 15 of 22
Anonymous
Not applicable

Re: Chase Ink ?


@iDShaDoW wrote:

 

 

Would like to call them and ask if I was approved and then request expedited mailing of my card but don't want to open that can of worms and have them start drilling me on my business.


Then don't call them. Be patient, and wait for what comes in the mail.....But be ready to open the can of worms on recon ONLY if your forced to do so.

Message 16 of 22
Anonymous
Not applicable

Re: Chase Ink ?


@Revelate wrote:

 

I would still suggest the path to Chase anything is building the relationship with them if you aren't gold-plated (I sure as hell am not, actually my personal FICO's have dropped 10-20 points from when I was approved) even if it's with a dinky $500 Freedom and a bare bones checking account or whatever.

 


Agree with this. Was approved for Ink Cash as sole proprietor and literally $0 business income. Got the 7-10 day message and 3 days later was approved without me needing to call in. They double pulled EQ/EX which are both ~650-660 and show >40% util and 12+ inquiries (7-8 within the last 6 months each), but I've had a Chase CC since forever with perfect payment history and normal use ($200-$300 a month). If anyone wants to bother searching, they'll see this definitely isn't out of the norm either. Several people with similar background/stats to me were approved for Ink. Chase seems to rely on their internal scores more than any other creditor, including Amex.

Message 17 of 22
iDShaDoW
Regular Contributor

Re: Chase Ink ?


@Anonymous wrote:

 

Agree with this. Was approved for Ink Cash as sole proprietor and literally $0 business income. Got the 7-10 day message and 3 days later was approved without me needing to call in. They double pulled EQ/EX which are both ~650-660 and show >40% util and 12+ inquiries (7-8 within the last 6 months each), but I've had a Chase CC since forever with perfect payment history and normal use ($200-$300 a month). If anyone wants to bother searching, they'll see this definitely isn't out of the norm either. Several people with similar background/stats to me were approved for Ink. Chase seems to rely on their internal scores more than any other creditor, including Amex.


Would you mind sharing when you were approved?

 

Just 2 days ago my automated message changed back to the "we'll notify you via mail in 7-10 days".

 

I'm expecting a denial letter now and then will call for recon when I get it...

 

Would consider applying for a regular Chase CC but I already have cards that cover all the categories I need at this time.  Only one I'd probably go for is the NFCU CashRewards card to replace my Quicksilver in order to move my business over to a credit union versus a large bank.





Message 18 of 22
Anonymous
Not applicable

Re: Chase Ink ?


@iDShaDoW wrote:

@Anonymous wrote:

 

Agree with this. Was approved for Ink Cash as sole proprietor and literally $0 business income. Got the 7-10 day message and 3 days later was approved without me needing to call in. They double pulled EQ/EX which are both ~650-660 and show >40% util and 12+ inquiries (7-8 within the last 6 months each), but I've had a Chase CC since forever with perfect payment history and normal use ($200-$300 a month). If anyone wants to bother searching, they'll see this definitely isn't out of the norm either. Several people with similar background/stats to me were approved for Ink. Chase seems to rely on their internal scores more than any other creditor, including Amex.


Would you mind sharing when you were approved?

 

Just 2 days ago my automated message changed back to the "we'll notify you via mail in 7-10 days".

 

I'm expecting a denial letter now and then will call for recon when I get it...

 

Would consider applying for a regular Chase CC but I already have cards that cover all the categories I need at this time.  Only one I'd probably go for is the NFCU CashRewards card to replace my Quicksilver in order to move my business over to a credit union versus a large bank.


I was approved at the beginning of this month. I honestly wouldn't anticipate a denial based on their messages. It seems like more often than not (at least based on the posts on the internet), they eventually lead to approvals

Message 19 of 22
iDShaDoW
Regular Contributor

Re: Chase Ink ?

Was a bit of back and forth but after it went from 2 weeks to 7-10 days I got a letter in the mail saying I needed to submit something else to verify my identity.

 

Fax'd them a utility bill and bank statement.  A few days later the message went back to 2 weeks.  A few days the message then changed to approved along with my weak $4k limit.

 

Better than nothing though. Smiley Tongue

 

Got an e-mail saying I was approved a couple days after that then I called and asked for expedited shipping of my card.

 

Was told it should arrive UPS or FedEX in 1-2 business days (possibly with signature required).

 

Not sure if the hard inquiry from Chase is what dropped my EX FICO by 12 points this time.  Whatever it is it didn't go into effect before my TU FICO came through.





Message 20 of 22
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