topic Re: Approved for Chase Ink - Bypassed 5/24 Chase Rule in Business Credit

Approved for Chase Ink - Bypassed 5/24 Chase Rule

seattlecredit08 — Thu, 02 May 2019 23:26:43 GMT

Background:

Very recently, Chase started rolling out what appears to be a new preaproval system for their Ink business cards. I believe this was first reported on Doctor of Credit as well as on this forum
With this new pre-approval system, black stars (instead of the usual green check marks) appear next to offers linked from "Just for you" section, under either business OR personal login:offers1.JPG
Upon clicking on the offer, a fixed APR is given

Application:

Well, thanks to this forum and encouraged by multiple positive reports, I decided to give this a try.
- I am 10 plus/24 so normally I would not look at any Chase products except for their co-brands ,
Applied from business login, which allowed me to pre-select the business name
Chose Chase Ink Unlimited (I would have gone for with Preferred but it does not have 0% intro APR offer, which is nice to have)
Application is extremely basic since business details are already pre-filled
Received the standard "We have received your request for a Chase credit card. We'll let you know our decision as soon as possible. "
Also, received an immediate alert about the Experian credit pull by Chase
Based on others' reports, I figured it may take a week or so to hear back and, frankly, at this point was not too optimistic given the number of the new accounts I have

Approval:

To my surprise, when I logged in to online banking the next day, the new Chase Ink card showed up under my account.
- $30,000.00 Starting Limit (SL)

Data points:

Experian (EX) Fico 8 score of around 760-770
10+ new accounts in the last 24 months, several new accounts in the last 6 months
Close to 0% utilization
AAoA is about 5 years
Business checking with Chase for over 5 years

Last but not least, Big, big thank you to everyone on this forum.

Thanks!!

Re: Approved for Chase Ink - Bypassed 5/24 Chase Rule

simplynoir — Thu, 02 May 2019 23:32:36 GMT

Congrats on your great approval there and datapoints you provided. I'm hoping in the next month to get one for the Unlimited Ink Cash to complete my collection of biz cards I want with Chase.

Re: Approved for Chase Ink - Bypassed 5/24 Chase Rule

Anonymous — Thu, 02 May 2019 23:44:09 GMT

Outstanding SL! Congrats on the approval and thanks for sharing dp's.

Re: Approved for Chase Ink - Bypassed 5/24 Chase Rule

credit_is_crack — Sat, 04 May 2019 21:20:03 GMT

Congrats on the big Win @seattlecredit08!! Chase is definitely a fan of you!

Re: Approved for Chase Ink - Bypassed 5/24 Chase Rule

Anonymous — Thu, 16 Jan 2020 14:05:05 GMT

Question; I received a mailer inviting me to apply for a Chase Ink Business card. I've opend up 8 new personal cc accounts within the past 2 year, 3 of which would drop off the 5/24 radar in the next couple of months. I've also opened of an Amex business card that is also up for a 3x CLI in the next week or so. That being said they sent this mailer with an invitation code despite my being on the mailer opt out list so I'm intrigued.

I do know I attempted to apply for one of these cards maybe 6 months ago which kind of either got lost in the shuffle on their end because they were asking for business docs I had to get from the IRS. In any case, I'm wondering if this mailer is a backdoor from chase saying "Hey, we see Amex is trusting you with a business card, let us compete!"

Stats: TU ~ 745; EX ~736; EQ ~ 711-705 (recent decrease from balance) Overall Util is under 20% on personal side and AAoA is 6 years.

Thoughts?

Re: Approved for Chase Ink - Bypassed 5/24 Chase Rule

Anonymous — Thu, 16 Jan 2020 18:56:57 GMT

If you really want the card, I would wait for those to drop off just to be safe. Some people bypassing the 5/24 rule is a YMMV situation.

GL with whatever you decide.