second business card

[longclimbback]

I want to get a second business card. I currently have a ink business cash. It was instantly approved 2 years ago with a 17500 limit. I typically spend $1000-$8000 a month through the card. Currently sits at 900 balance. It has been charged up almost to the limit on many occasions, paying off as the cash flow comes in. My business does about 350k a year with my schedule c income around 80k per year. No other business debt or credit that would show up.
On the personal side, a chase sp 14k, a boa travel rewards 15k, 2 capital one cards 5k and 10k and a lowes card 12k. A $900 mortgage and a $400 auto loan. 1 inquiry and no new accounts in the last years. Scores in the 800's.

So where 2 go for a second card? Love my Ink card and wouldn't mind another if that's plausible. I have 31.5k in credit through chase now between business and personal. What would be internal limit for someone with my stats? If not best one to go after? Want a similar limit to the 17k my ink has and I don't have the patience to jump through hoops. A 0% would also be nice for the months I'm forced to carry a balance. Thanks.

[Anonymous]

With your stats you can have the pick of the litter. So, the question is what's the purpose of the new card? If it's just to have additional credit capacity, how about hitting up Chase for a limit increase on your existing card? If it's for cash back or rewards then you'd want to look for one that doesn't duplicate the rewards you get with your Ink. If it's just to have another card, I'd look to another lender for diversification reasons.

[myjourney]

If it were me I'd apply for the Ink Plus 

Here's why 

1) Chase knows your spending habits and chances of good limit is high

2) Your total cash points you have now increase in value unless the Chase SP you referred to is a CSP or is it plan old Chsae SP?

3) The current max on Ink Cash @ 5% is capped at 25k by adding Ink Plus you now extend that 5% on 75K 

Other options 

Amex simply cash ....Good choice 

Amex SPG .....however points could be nerfed due to Marriott deal TBD

[longclimbback]

I guess my plan was two-fold. Extra credit is always nice. And 0% on a new card would be nice. I also thought that if I could get the statement dates to be 2 weeks apart, I could effectively stop charging on one right after the statement cut date of the other. If I could cycle them this way, I would get an extra 2 weeks interest free at times I have to carry a balance. Any idea what my internal limit with chase would be? Thanks for any help

[Anonymous]

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@longclimbback wrote:
I guess my plan was two-fold. Extra credit is always nice. And 0% on a new card would be nice. I also thought that if I could get the statement dates to be 2 weeks apart, I could effectively stop charging on one right after the statement cut date of the other. If I could cycle them this way, I would get an extra 2 weeks interest free at times I have to carry a balance. Any idea what my internal limit with chase would be? Thanks for any help

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That's impossible for anyone to know outside of Chase.  Your income, your credit,  and most importantly, their internal score for you are huge factors in their limit for you.  

[myjourney]

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@longclimbback wrote:
I guess my plan was two-fold. Extra credit is always nice. And 0% on a new card would be nice. I also thought that if I could get the statement dates to be 2 weeks apart, I could effectively stop charging on one right after the statement cut date of the other. If I could cycle them this way, I would get an extra 2 weeks interest free at times I have to carry a balance. Any idea what my internal limit with chase would be? Thanks for any help

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No way of telling internal limit but putting 1-8k a month thur them I'd venture to say pretty decent 

Amex Simply cash has a $0% promo for 9 months no current sign up bonus tho which is unusual

Statement dates can always be changed to suit your needs so that's a easy fix 

[myjourney]

Also you still didn't say what you have 

Chase Sapphire or Chase Sapphire Preferred?

[longclimbback]

I have the chase sapphire preferred. Usually run 2k through a month and usually pay in full.
I know Noone but chase can tell my internal limits, but I figured a few people could give me an idea. I mean if some people on here have 50k in chase cards with my income more or less,or my credit scores more or less then I guess there'd be a good chance of approval for another good tradeline from them. I've shied away from Amex as I burnt them in my youth. I eventually paid them in full after it ended in collections (8k) or so. This was probably 12 years ago.They've been sending me preapprovals for years now so maybe it's time to send one in. Thanks.

[myjourney]

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@longclimbback wrote:
I have the chase sapphire preferred. Usually run 2k through a month and usually pay in full.
I know Noone but chase can tell my internal limits, but I figured a few people could give me an idea. I mean if some people on here have 50k in chase cards with my income more or less,or my credit scores more or less then I guess there'd be a good chance of approval for another good tradeline from them. I've shied away from Amex as I burnt them in my youth. I eventually paid them in full after it ended in collections (8k) or so. This was probably 12 years ago.They've been sending me preapprovals for years now so maybe it's time to send one in. Thanks.

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Well your points are protected then (good)

As far as Amex the good news is since you paid them back and in full I seriously doubt you're blacklisted and worth a shot anyway IMHO for diversity reasons 

If blacklisted chances are high you won't even get a HP so nothing to lose there but the mystery of the limit if approved 

Chase does have a pattern of giving either the same limit or an higher one to long term high spend clients so ....That's about all the info I can give you about that 

And there's also the option to move limits with Chase ...so keep that in mind as well

[SouthJamaica]

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@longclimbback wrote:
I want to get a second business card. I currently have a ink business cash. It was instantly approved 2 years ago with a 17500 limit. I typically spend $1000-$8000 a month through the card. Currently sits at 900 balance. It has been charged up almost to the limit on many occasions, paying off as the cash flow comes in. My business does about 350k a year with my schedule c income around 80k per year. No other business debt or credit that would show up.
On the personal side, a chase sp 14k, a boa travel rewards 15k, 2 capital one cards 5k and 10k and a lowes card 12k. A $900 mortgage and a $400 auto loan. 1 inquiry and no new accounts in the last years. Scores in the 800's.

So where 2 go for a second card? Love my Ink card and wouldn't mind another if that's plausible. I have 31.5k in credit through chase now between business and personal. What would be internal limit for someone with my stats? If not best one to go after? Want a similar limit to the 17k my ink has and I don't have the patience to jump through hoops. A 0% would also be nice for the months I'm forced to carry a balance. Thanks.

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I like the Capital One Spark card... 2% cash back on everything.