Chase Ink Bold approval
12-03-2012 11:24 AM
I have to stop this and start to garden soon.
I was looking at offers last week and decided to apply for a Chase Sapphire Preferred. Got it without much issue and was pleased as that rounded out my personal cards with a nice 40,000 rewards bonus for $3,000 spend in 3 months. I thought about applying for the Ink Bold at the same time but I had just been thru quite an experience getting the Amex Delta Reserve for Business card. I had second thoughts last night and just went for it, the 50,000 points for $5,000 spend was too much to resist. Got the standard "application needs further review" screen.
I just called and spoke to a very nice CSA at 800-453-9719 and after a few simple questions as to the nature of my business, gross sales and profits for 2010 thru 2012 as well as reviewing my existing Ink Cash account usage and Chase business checking account balances he put me on hold for a couple of minutes. Came back and told me I was approved and wanted to discuss what I felt I would need as a limit. That was nice as I was able to truthfully discuss my actual business needs and in the end I decided to ask for $20,000 which was granted. He could see the usage on the other card and agreed that at times it appeared that the utilization was high but thanked me for paying in full and recognized that on some months I paid it in full more than once. I was sweating the utilization but he brushed it off based on PIF early.
Looks like Chase will be getting some usage, they are certainly easy to work with and seem to be open to discuss my needs and try to accommodate them as best as they can. He said that as long as I PIF on both cards I will be free to call and ask for increases when I need it, not based on a schedule. I asked and he said it did help to have business checking and savings with Chase as they could verify activity in those accounts.
I'm done looking for cards. I'm covered for the business with the Ink Cash and Ink Bold plus the Amex Gold and Delta Reserve for Business. It feels good to have them but better because I always have the cash in the bank and could drop them all and still operate a profitable business. Business credit is nothing more than a tool.