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Valued Contributor
red259
Posts: 1,922
Registered: ‎06-05-2013
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ink plus vs ink bold app

So here is the situation. I tried to get the ink plus in Jan and was denied. When I called in I was told to apply again when I have one years worth of credit history. Immediately afterwards I applied for a CSP and was given a 17k credit line instant approval. Go figure. Anyway I want to get in on the bonus signup offer and my cap 1 venture card was approved last 5/28, so technically I will have had that card for one year when I app on 5/31. I receieved my chase freedom in the first or second week of last June. This past Jan I picked up the CSP, Amex PRG and Amex BCP (credit line now 17.1k). In march I picked up the citi AA executive card (11k) limit. Since March I have not added or apped for anything. Per my cap 1 venture card credit reating report I am told my TU is 785 for whatever that is worth. What are my odds of being approved at this point? In another month or two I figure I'd be a shoe in, but I feel like I am right on the border now. Also would it be much easier to get approved for the bold over the plus? Other than one being a charge and one being a credit card is there any other difference between the two? Thanks. 


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Epic Contributor
Creditaddict
Posts: 20,206
Registered: ‎10-23-2007
0

Re: ink plus vs ink bold app


red259 wrote:

So here is the situation. I tried to get the ink plus in Jan and was denied. When I called in I was told to apply again when I have one years worth of credit history. Immediately afterwards I applied for a CSP and was given a 17k credit line instant approval. Go figure. Anyway I want to get in on the bonus signup offer and my cap 1 venture card was approved last 5/28, so technically I will have had that card for one year when I app on 5/31. I receieved my chase freedom in the first or second week of last June. This past Jan I picked up the CSP, Amex PRG and Amex BCP (credit line now 17.1k). In march I picked up the citi AA executive card (11k) limit. Since March I have not added or apped for anything. Per my cap 1 venture card credit reating report I am told my TU is 785 for whatever that is worth. What are my odds of being approved at this point? In another month or two I figure I'd be a shoe in, but I feel like I am right on the border now. Also would it be much easier to get approved for the bold over the plus? Other than one being a charge and one being a credit card is there any other difference between the two? Thanks. 


I think you are golden... I would call day and night until you find a rep that thinks so too if you do happen to have any issues getting approved!!

They seem to be very hard to get the first card with but once you have it and show some history, they are very giving!

Fico Scores: EQ- HATE U, TU 671 GE, EX 669 Chase(09-15-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Walmart $400
Over 45 Cards in between :smileytongue:
Valued Contributor
red259
Posts: 1,922
Registered: ‎06-05-2013
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Re: ink plus vs ink bold app

So I applied for the ink bold and was told they can't verify my business. They basically started off listing all these IRS documents I could send them and telling me to get an EIN. I'm a sole prop so I explained to them I do not have an EIN. I also explained that a sole prop won't have articles of incorporation etc. Finally they came back and said I could submit a copy of my office lease agreement. 

Now here is the question. I use a virtual office setup, meaning I get my mail and packages at the specific physical address and also that I can rent out conference room space when I need it as well at the location. They do rent physical offices, but I do not utilize that feature and work out of my home. There is an agreement that I signed with the company that offers these services. Should I just send that agreement to Chase or should I call in and ask them to change the business address to my home address? A few points to note, this is a legitimate business offering professional services and as been in operation since 2005. I have two personal credit cards with Chase this past year which use my home address, so clearly they know I can be reached at this address. I don't really want the credit card material to be sent to my business address anyway and had I known it would have triggered such a hassle I would have just used my home address.


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Epic Contributor
Creditaddict
Posts: 20,206
Registered: ‎10-23-2007
0

Re: ink plus vs ink bold app


red259 wrote:

So I applied for the ink bold and was told they can't verify my business. They basically started off listing all these IRS documents I could send them and telling me to get an EIN. I'm a sole prop so I explained to them I do not have an EIN. I also explained that a sole prop won't have articles of incorporation etc. Finally they came back and said I could submit a copy of my office lease agreement. 

Now here is the question. I use a virtual office setup, meaning I get my mail and packages at the specific physical address and also that I can rent out conference room space when I need it as well at the location. They do rent physical offices, but I do not utilize that feature and work out of my home. There is an agreement that I signed with the company that offers these services. Should I just send that agreement to Chase or should I call in and ask them to change the business address to my home address? A few points to note, this is a legitimate business offering professional services and as been in operation since 2005. I have two personal credit cards with Chase this past year which use my home address, so clearly they know I can be reached at this address. I don't really want the credit card material to be sent to my business address anyway and had I known it would have triggered such a hassle I would have just used my home address.


I would change to home address.

Fico Scores: EQ- HATE U, TU 671 GE, EX 669 Chase(09-15-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Walmart $400
Over 45 Cards in between :smileytongue:
Valued Contributor
red259
Posts: 1,922
Registered: ‎06-05-2013
0

Re: ink plus vs ink bold app


Creditaddict wrote:


I would change to home address.


Yea I hope they just let me change it over the phone and don't start asking for my apartment lease or demanding I file a whole new app or some nonsense. 


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Established Contributor
scenery_guy
Posts: 958
Registered: ‎07-24-2012
0

Re: ink plus vs ink bold app

By chance to you bank with Chase? I ask as it might be easier to do in a branch. 

I use my home address as the mailing address for my business but I do have a physical address as well. I provided it with the business card application but specified mailing to home address. I have both personal and business cc with Chase and it's never been an issue. I do bank with Chase, not sure if that matters. 

Valued Contributor
red259
Posts: 1,922
Registered: ‎06-05-2013
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Re: ink plus vs ink bold app

Just an update. After a hassle of having to get my office lease and fax it to chase and waiting for it to update in their system and then faxing it again I finally got approved for the ink bold card. They gave me a 5k credit line but I had to move 5k from my csp (was 17k limit) to get the 5k on the ink bold. Wasn't super happy about that, but I figured I the 12k line on the CSP should be enough anyway (I have 17.1k on my amex so the CSP was my second highest credit line), especially since most of my spend will go on the bold anyway unless its bonus categories. Overall I will earn a lot more bonus points with the bold then I would ever earn with the CSP, so it was a necessary treadeoff. 


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Community Leader
Senior Contributor
myjourney
Posts: 26,347
Registered: ‎02-07-2013
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Re: ink plus vs ink bold app


red259 wrote:

Just an update. After a hassle of having to get my office lease and fax it to chase and waiting for it to update in their system and then faxing it again I finally got approved for the ink bold card. They gave me a 5k credit line but I had to move 5k from my csp (was 17k limit) to get the 5k on the ink bold. Wasn't super happy about that, but I figured I the 12k line on the CSP should be enough anyway (I have 17.1k on my amex so the CSP was my second highest credit line), especially since most of my spend will go on the bold anyway unless its bonus categories. Overall I will earn a lot more bonus points with the bold then I would ever earn with the CSP, so it was a necessary treadeoff. 


Congrats on the approval

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Established Contributor
CreditUnionFan
Posts: 543
Registered: ‎10-07-2013
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Re: ink plus vs ink bold app


myjourney wrote:

red259 wrote:

Just an update. After a hassle of having to get my office lease and fax it to chase and waiting for it to update in their system and then faxing it again I finally got approved for the ink bold card. They gave me a 5k credit line but I had to move 5k from my csp (was 17k limit) to get the 5k on the ink bold. Wasn't super happy about that, but I figured I the 12k line on the CSP should be enough anyway (I have 17.1k on my amex so the CSP was my second highest credit line), especially since most of my spend will go on the bold anyway unless its bonus categories. Overall I will earn a lot more bonus points with the bold then I would ever earn with the CSP, so it was a necessary treadeoff. 


Congrats on the approval


Congrats on the approval!

 

I got two during Small Business Month - one for my Sole Proprietor Business in place for several years, and one for my LLC just formed this year.

I was going to garden... Honest!
Senior Contributor
Wanderer
Posts: 4,165
Registered: ‎10-03-2008
0

Re: ink plus vs ink bold app

Congrats! The Chase Business Ink Cash has been my go to business card since 2006.

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