topic Re: Chase invitation in Business Credit

Chase invitation

Anonymous — Tue, 26 Feb 2019 18:05:34 GMT

I already have a Chase Business card, was Preferred, then downgraded to Cash. After my app spree I'm def over a dozen inq and in the "LOL/24" so no idea why they sent me an invite. Are they trolling me?

Re: Chase invitation

rbentley — Tue, 26 Feb 2019 18:10:10 GMT

The 5/24 rule does not apply to most Chase Business cards.

Re: Chase invitation

Anonymous — Tue, 26 Feb 2019 18:21:30 GMT

There's also a Business checking promo as well, both the checking and credit offer expire on the same day, April 8th

Re: Chase invitation

zerofire — Tue, 26 Feb 2019 18:43:42 GMT

Joke is on you because Chase will let people in if they want to and the rules for 5/24 is based on accounts, not inquiries. If the accounts have not landed yet then you probably are still ok. I had Chase go ahead and approve me at 7/24 in the past for a Chase Freedom so YMWV. Lastly most mail offers will bypass the 5/24 rule. Overall if you want it and have the records for it then go ahead and app. Lastly Chase will do a SP on your records after a little bit to verify against any app sprees. I recommend that you are ready to deal with getting burnt because you are playing with flames.

Re: Chase invitation

Anonymous — Tue, 26 Feb 2019 20:18:13 GMT

The accounts hit very quickly. Like before I even received the card in the mail quick. 2 of them listed below, the other 2, PNC and USB not. So def LOL/24. TU inq at 12 including the one below.

I tried the Amazon Prime store card because it was thru Synchrony, not Chase, and free money with no spend, but...

Re: Chase invitation

woodyman100 — Wed, 27 Feb 2019 01:22:12 GMT

5/24 rule does apply to Chase business cards

However, they don’t count as one of the 5 as they are hidden

Re: Chase invitation

zerofire — Thu, 28 Feb 2019 01:30:55 GMT

US Bank generally takes a while to pull the report. As a result they will usually not show the HP for a bit if you apply fast enough. I have no experience with PNC but as a regional bank I think they might have something similar. Wells Fargo is part of the Big 4 US banks and Barclay's is a British Multinational so if those did not report yet I would be concerned. Big banks usually report in 1-3 days after application. Fastest known reporter is Synchrony Bank as they report immediately when you are approved.

Re: Chase invitation

MB54 — Sun, 24 Mar 2019 01:22:38 GMT

Hello -

I recieved the chase invitation for the Chase Ink Business Preferred Card, I have a new courier start-up business with no business credit as yet, what do you thin my chances of qualifying for this invitation offer with a 653 FICO Score with Transunion, Equifax and Experian are bit less, please advise?

Re: Chase invitation

SouthJamaica — Sun, 24 Mar 2019 16:57:26 GMT

@MB54 wrote:
Hello -

I recieved the chase invitation for the Chase Ink Business Preferred Card, I have a new courier start-up business with no business credit as yet, what do you thin my chances of qualifying for this invitation offer with a 653 FICO Score with Transunion, Equifax and Experian are bit less, please advise?

If it were me, I would try regardless of what my chances are. To be able to start out your business credit life with what I consider the best business card in the business would be great.

PS I know someone who gets invitations to apply for that card who doesn't even have a business. Meanwhile I -- who do have a business and would love to have the card -- never get an invite

Re: Chase invitation

MB54 — Sun, 24 Mar 2019 17:23:16 GMT

Hello - Super Contributor

Thank you for your feedback, I appreciate it. Based on the information that I had put out to get a good assessment of where I stand and the pathway forward based on experience of the group and you responding to my call for help. Would you recommend I these steps, see below and please add anything you feel that would be helpful.

1. Open a Chase Business Checking Account

2. Apply for the Chase Ink Business Preferred Card

3. Personal Credit Score as of 3/24/2019: Transunion 653 - Equifax 611 - Experian 602 (credit scores result of late payments & being above 30% on overall debt currently at 44% overall utilization

Re: Chase invitation

LittleSal — Sun, 24 Mar 2019 19:47:13 GMT

How recent are your late payments?

Re: Chase invitation

MB54 — Sun, 24 Mar 2019 20:54:11 GMT

LittleSal

Thank you for your response the most recent was in January reported in February 2019.

Re: Chase invitation

SouthJamaica — Mon, 25 Mar 2019 00:10:04 GMT

@MB54 wrote:
Hello - Super Contributor

Thank you for your feedback, I appreciate it. Based on the information that I had put out to get a good assessment of where I stand and the pathway forward based on experience of the group and you responding to my call for help. Would you recommend I these steps, see below and please add anything you feel that would be helpful.
1. Open a Chase Business Checking Account
2. Apply for the Chase Ink Business Preferred Card
3. Personal Credit Score as of 3/24/2019: Transunion 653 - Equifax 611 - Experian 602 (credit scores result of late payments & being above 30% on overall debt currently at 44% overall utilization

1. I think it's a good idea to open a Chase Business Checking Account. Just make sure to get your bonus for doing so. I think it's $300 now. https://www.doctorofcredit.com/chase-business-total-checking-300-bonus-no-direct-deposit-required/

2. After you've done so, and set up online banking, check for an offer for the Chase Ink Preferred card. If not, ask the officer at the branch if you have any in-branch preapprovals.

3. As to whether you should apply if there are no preapprovals, that's up to you. Your scores aren't that strong, but you did receive that invitation. If it were me I'd go ahead and take a fling at it. The worst thing that could happen is you'll have wasted 1 or 2 hard pulls.

Re: Chase invitation

MB54 — Mon, 25 Mar 2019 03:34:55 GMT

Super Contributor -

Thank for giving me so really good tips on execution steps, including the attachment information. I really appreciate you, particularly taking your valuble time to share some good ideas and the attachment. May you continue to be blessed with knowledge to help others. You truly have made a "Deposit Into My Emotional Bank Account".

Sincerely,

MB54