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New Contributor
ssmith891
Posts: 79
Registered: ‎11-07-2012
0

Would I get approved for Ink Bold?

Right now I currently have:

 

Texans Credit Union Visa: $3,000 since 2009

Chevron Gas Card: $800 since 2010

NTB Service Card: $1,000 since 2011

AMEX ZYNC: NPSL since 2011

AMEX BCE: $8,800 since 2011

CSP: $5,000 since October 2012

Chase Freedom: $3,000 since November 2012

Discover More: $4,500 since December 2012

US Bank Cash+: $1,500 since January 2013

Chase Hyatt Visa: $5,000 since February 2013

 

All paid in full on time. Never carried a balance. My annual income is around $30k and I'm 21. I plan on applying as a sole proprietor. Do you guys think I would be approved?

Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
0

Re: Would I get approved for Ink Bold?


ssmith891 wrote:

Right now I currently have:

 

Texans Credit Union Visa: $3,000 since 2009

Chevron Gas Card: $800 since 2010

NTB Service Card: $1,000 since 2011

AMEX ZYNC: NPSL since 2011

AMEX BCE: $8,800 since 2011

CSP: $5,000 since October 2012

Chase Freedom: $3,000 since November 2012

Discover More: $4,500 since December 2012

US Bank Cash+: $1,500 since January 2013

Chase Hyatt Visa: $5,000 since February 2013

 

All paid in full on time. Never carried a balance. My annual income is around $30k and I'm 21. I plan on applying as a sole proprietor. Do you guys think I would be approved?


I would say you have a chance but the big thing is your relationship with Chase is very young and they may want to see more positive history with them before giving you a 4th card.




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webhopper
Posts: 7,225
Registered: ‎09-16-2011
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Re: Would I get approved for Ink Bold?

I agree. Wait until July to apply

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hayabusa
Posts: 92
Registered: ‎04-04-2013
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Re: Would I get approved for Ink Bold?

Chances are 100% if your  willing to move your credit limits or close a card to get one,  even with a perfect credit history I think with your income rate they've already maxed out your internal credit limit imo. The bold card could have a decent chance though since it's technically not issuing you a real credit limit cause it's a Charge card. If your willing to give up one card then try anytime. If not wait a few more months. People always say space out Chase apps but personally got 3 personal cards approved within a few weeks of eachother, so ymmv.


ssmith891 wrote:

Right now I currently have:

 

Texans Credit Union Visa: $3,000 since 2009

Chevron Gas Card: $800 since 2010

NTB Service Card: $1,000 since 2011

AMEX ZYNC: NPSL since 2011

AMEX BCE: $8,800 since 2011

CSP: $5,000 since October 2012

Chase Freedom: $3,000 since November 2012

Discover More: $4,500 since December 2012

US Bank Cash+: $1,500 since January 2013

Chase Hyatt Visa: $5,000 since February 2013

 

All paid in full on time. Never carried a balance. My annual income is around $30k and I'm 21. I plan on applying as a sole proprietor. Do you guys think I would be approved?


 

New Contributor
ssmith891
Posts: 79
Registered: ‎11-07-2012
0

Re: Would I get approved for Ink Bold?

Do you guys think Ink Plus would be an easier approval?

Member
hayabusa
Posts: 92
Registered: ‎04-04-2013
0

Re: Would I get approved for Ink Bold?


ssmith891 wrote:

Do you guys think Ink Plus would be an easier approval?


Think about it if you were a lender. Who would you rather lend to? Someone who promises to pay back every month in full, or someone who promises to pay back over time.

 

Especially since you already have promises to pay over time on a few accounts, I would definately say pay back in full each month would be the easier route (Ink Bold

 

Regardless recently getting approved close to half your annual income in the last few months, I wouldn't say chances are very good for either atm.

Established Contributor
scenery_guy
Posts: 936
Registered: ‎07-24-2012
0

Re: Would I get approved for Ink Bold?


Gunsmiths wrote:

Right now I currently have:

 

Texans Credit Union Visa: $3,000 since 2009

Chevron Gas Card: $800 since 2010

NOT Service Card: $1,000 since 2011

AMES ZYNC: NPSL since 2011

AMEX BCE: $8,800 since 2011

CSP: $5,000 since October 2012

Chase Freedom: $3,000 since November 2012

Discover More: $4,500 since December 2012

US Bank Cash+: $1,500 since January 2013

Chase Hyatt Visa: $5,000 since February 2013

 

All paid in full on time. Never carried a balance. My annual income is around $30k and I'm 21. I plan on applying as a sole proprietor. Do you guys think I would be approved?


Do you have a Federal EIN? What kind of business do you operate? How long have you been in business? What's your annual gross revenue? Do you have any employees? What is your average monthly business spend? Where do you see your business being in a year? 

 

Typical questions you will be discussing during the recon call (there will be a call as Ink cards never get instant approval even if you are carrying an Ink card). Not to sound judgmental but it's a business product and it targets business owners. Yes, I am familiar with the postings all over the interwebs about how anyone with a SSN and a small business idea can get an Ink card, I just question how long this will last and how Chase feels about this exploit. Remember those bloggers actually are businesses (and therefore are qualified for a business card) and it's their job to pull applicants to the banks for referral money.

 

Perhaps I am wrong and Chase could care a less about any person getting the card. I'm not so sure they are happy as it reports to your business reports not your personal reports so personal UTL does not factor at all. You will still be on the hook in a default situation as it's a PG card.

 

To answer your question the Bold and Plus have same criteria for approval. What is unknown is if you can have both cards at the same time. Yes, they both have sweet 50,000 point sign up bonuses and great bonus categories. 

 

My guess is you will be declined. Income is a bit low unless you have business income to show too. Your history with Chase is a bit young as well. But who knows, I am wrong all the time. 

Senior Contributor
Open123
Posts: 4,219
Registered: ‎02-23-2011
0

Re: Would I get approved for Ink Bold?


scenery_guy wrote:

 

To answer your question the Bold and Plus have same criteria for approval. What is unknown is if you can have both cards at the same time.  


Yes, you can.  I have both at the same time within months of each other.

Established Contributor
scenery_guy
Posts: 936
Registered: ‎07-24-2012
0

Re: Would I get approved for Ink Bold?


Open123 wrote:

scenery_guy wrote:

 

To answer your question the Bold and Plus have same criteria for approval. What is unknown is if you can have both cards at the same time.  


Yes, you can.  I have both at the same time within months of each other.


Roger that. I have the Bold and Cash. Was thinking of trying to get the Plus and keep the Cash just for employee usage. My bargaining chip is I could leave $5K on the Cash for employee use and move $15K to the Plus. 

Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Would I get approved for Ink Bold?


scenery_guy wrote:

Do you have a Federal EIN? What kind of business do you operate? How long have you been in business? What's your annual gross revenue? Do you have any employees? What is your average monthly business spend? Where do you see your business being in a year? 

 

Typical questions you will be discussing during the recon call (there will be a call as Ink cards never get instant approval even if you are carrying an Ink card). Not to sound judgmental but it's a business product and it targets business owners. Yes, I am familiar with the postings all over the interwebs about how anyone with a SSN and a small business idea can get an Ink card, I just question how long this will last and how Chase feels about this exploit. Remember those bloggers actually are businesses (and therefore are qualified for a business card) and it's their job to pull applicants to the banks for referral money.

 

Perhaps I am wrong and Chase could care a less about any person getting the card. I'm not so sure they are happy as it reports to your business reports not your personal reports so personal UTL does not factor at all. You will still be on the hook in a default situation as it's a PG card.

 

To answer your question the Bold and Plus have same criteria for approval. What is unknown is if you can have both cards at the same time. Yes, they both have sweet 50,000 point sign up bonuses and great bonus categories. 

 

My guess is you will be declined. Income is a bit low unless you have business income to show too. Your history with Chase is a bit young as well. But who knows, I am wrong all the time. 


I totally agree. This should be stickied.

Anyone who doesn't own, nor have the authority to apply, should NOT apply for a business card. Some banks might be more lenient to allow consultants to apply for business cards because of their job nature, but that's bout it.

 

Some people might sneak past the cracks at times and get approved, but there's always a risk of getting found out if the account ever gets reviewed for anything (CLI reviews included). There's been examples of people applying for both personal and business version of BCP just to increase groceries cap to 12k a year, and when found out, ALL Amex accounts were closed.

 

Will Chase take the same actions? Possibly, since you technically lied on the application and committed fraud.

Will they press charges against u? Extremely unlikely, unless you can't pay back your debt. 

Is this a risk worth taking though? Definitely not.

 

As tempting as some bonuses might be, don't overreach and be greedy. The consequences sometimes can be way uglier and troublesome than whatever the bonus is.

 

And to OP: You didn't state whether you own a business or have the authority to apply for your firm, so if you do, I am sorry for hijacking your post. 

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