topic Re: Does opening a Chase account help bypass 5/24 in Business Credit

Does opening a Chase account help bypass 5/24

frank784 — Sun, 08 Apr 2018 03:45:02 GMT

Been reading on here but can't seem to find any consisteny with answers, but would opening a Chase account help my 5/24 status?

Looking to get the Chase Ink Business Preferred but am not under 5/24 until Jan 1, 2019. I know that others said in branch approvals and a green check mark for offers on my Chase account sometimes are a way around 5/24.

If I went to a Chase branch and opened a Business checking account wouldn't there be a chance that I might get an in branch pre approval or a green check mark on my website?

I was thinking about moving some money and working with Chase instead of my current US Bank relationship. I would be willing to move over about $50K total to chase.

Just thinking outside the box and I would love to get the CIP. I currently have a Southwest, Freedom, and a CSR....total limits are $32K with less than 1% utilization. Data points are 725-737 Fico 8 scores and $140K income.

Thanks in advance.

Re: Does opening a Chase account help bypass 5/24

Anonymous — Sun, 08 Apr 2018 12:19:44 GMT

@frank784 wrote:
Been reading on here but can't seem to find any consisteny with answers, but would opening a Chase account help my 5/24 status?

Looking to get the Chase Ink Business Preferred but am not under 5/24 until Jan 1, 2019. I know that others said in branch approvals and a green check mark for offers on my Chase account sometimes are a way around 5/24.

If I went to a Chase branch and opened a Business checking account wouldn't there be a chance that I might get an in branch pre approval or a green check mark on my website?

I was thinking about moving some money and working with Chase instead of my current US Bank relationship. I would be willing to move over about $50K total to chase.

Just thinking outside the box and I would love to get the CIP. I currently have a Southwest, Freedom, and a CSR....total limits are $32K with less than 1% utilization. Data points are 725-737 Fico 8 scores and $140K income.

Thanks in advance.

It didnt help me out any. BUT, I didnt move $50k into their accounts. I moved just enough to bypass fees, which was $1,500. I opened the account and applied in the same day, which may have let to my denial. (maybe I should have waited and the let checking and savings establish)

I was 6/24 at the time, and was hoping that the new banking would trigger a bypass of 5/24 but no luck. Bad part for them was In the following 2 weeks I spent ~$25k on my Amex which would have gone on the chase card. I tried explaining that to the UW rep (that I knew I had these charges coming up) . She was firm on the 5/24.

I was wanting a business card for situations that didn't accept Amex, but my personal requirement of some kind of decent rewards structure, and non-reporting to personal profile, and I ended up applying for the Costco Anywhere Business. Had it two months and so far so good.

I may try and apply once I'm under 5/24 and see how it goes. But other than my CSR & FU, I am not a real fan of Chase, they seem to be more difficult to work with then EVERY other bank I use and always make simple things complex.

Re: Does opening a Chase account help bypass 5/24

frank784 — Sun, 08 Apr 2018 20:41:21 GMT

Thank you....anyone else had any success with this or tried it even with not their wanted results?

Re: Does opening a Chase account help bypass 5/24

Anonymous — Sun, 08 Apr 2018 21:24:31 GMT

If you go in and open an account with a business relationship manager, you might get a pre approval

The BRM might be able to bypass 5/24

While I have no empirical evidence at Chase as I do not have business checking or savings there only an ink card, maintaining a mid 5 bank rating is likely to open some doors.

It should take 3-4 months to achieve a bank rating

Re: Does opening a Chase account help bypass 5/24

frank784 — Mon, 09 Apr 2018 02:23:26 GMT

How else are others get preapprovals for Chase business cards? I would need to start a business checking account or just cold apply? I think I will try to talk to a BRM soon.