topic Re: Question about applying for Chase Ink Business in Business Credit

Question about applying for Chase Ink Business

2GreenThumbs — Wed, 02 Jun 2021 13:15:14 GMT

Hi!

I'm hoping to get some advice with my application situation. We're doing a lot of work on our home and will be spending a bit at the home improvement stores. So last night, I applied and was approved for the Chase Freedom Flex. This finally completes my Chase trifecta.

I was 3/24, my scores are all in the 800s, and my income is low 6 figures.

I have a side hustle selling things on the resale sites and would like to get the Ink Business Cash. I know I should have applied for that first, but I'm still under 5/24.

Thoughts? Should I wait between applications, or would I be good to go today? Thanks for any advice you can offer.

Re: Question about applying for Chase Ink Business

simplynoir — Wed, 02 Jun 2021 13:54:38 GMT

First off congratulations on your Flex approval there

To answer your app question I would wait and give it at least three months before applying for the business card. While it is possible to do it now and get approved, no need to give Chase any second thoughts on taking back what you just got. This is even with your excellent credit history and being under 5/24. Too much credit in so little time can do it. If there is a time constraint such as a big business purchase coming fairly soon then go for it but id you can afford a little time to pass I'd do that

Re: Question about applying for Chase Ink Business

2GreenThumbs — Wed, 02 Jun 2021 14:08:13 GMT

Thank you for the sound advice. No big business expenses anytime soon, so I will take your advice and wait.

Re: Question about applying for Chase Ink Business

Aim_High — Thu, 03 Jun 2021 18:14:40 GMT

I agree with @simplynoir.

I completed my Chase Quadfecta within the past couple of years. I always gave new Chase apps 3-6 months to age before going for the next card, and I think that is sound advice. But three months is probably plenty.

By the way, you might consider doing what I did to reap a better SUB. I was approved for the Chase INK Business Preferred card with 100K UR point SUB, which is the current offer. (The current spend of $15K, however, is a lot higher than it was when I got it.) Towards the end of the first year, I called and downgraded to the INK Cash card and they even refunded part of my first year AF. I ended up with a more useful card for my spending with a better SUB and no AF.

By the way, my INK Cash gets my recurring cellphone and tv-internet bills (and office supply stores, as needed) with a 5% payout that is worth 7.5% in travel when transferred to my CSR. It's a great deal.

Congrats on completing the ~~Quadfecta~~ *Trifecta!

*ETA: 06/03/21

Re: Question about applying for Chase Ink Business

2GreenThumbs — Thu, 03 Jun 2021 02:17:35 GMT

@Aim_High wrote:
I agree with @simplynoir.

I completed my Chase Quadfecta within the past couple of years. I always gave new Chase apps 3-6 months to age before going for the next card, and I think that is sound advice. But three months is probably plenty.

By the way, you might consider doing what I did to reap a better SUB. I was approved for the Chase INK Business Preferred card with 100K UR point SUB, which is the current offer. (The current spend of $15K, however, is a lot higher than it was when I got it.) Towards the end of the first year, I called and downgraded to the INK Cash card and they even refunded part of my first year AF. I ended up with a more useful card for my spending with a better SUB and no AF.

By the way, my INK Cash gets my recurring cellphone and tv-internet bills (and office supply stores, as needed) with a 5% payout that is worth 7.5% in travel when transferred to my CSR. It's a great deal.

Congrats on completing the Quadfecta!

Thanks for your guidance. I haven't completed the quadfecta yet, just the tri, but down the road, I definitely want the Ink to round it all out. I saw that $15k spend and, while it's just too rich for my blood right now, I would love the Ink Business Cash for the 5% for phone/internet/cable.

Re: Question about applying for Chase Ink Business

Aim_High — Thu, 03 Jun 2021 18:20:04 GMT

@2GreenThumbs wrote:
@Aim_High wrote:
I agree with @simplynoir.

I completed my Chase Quadfecta within the past couple of years. I always gave new Chase apps 3-6 months to age before going for the next card, and I think that is sound advice. But three months is probably plenty.

By the way, you might consider doing what I did to reap a better SUB. I was approved for the Chase INK Business Preferred card with 100K UR point SUB, which is the current offer. (The current spend of $15K, however, is a lot higher than it was when I got it.) Towards the end of the first year, I called and downgraded to the INK Cash card and they even refunded part of my first year AF. I ended up with a more useful card for my spending with a better SUB and no AF.

By the way, my INK Cash gets my recurring cellphone and tv-internet bills (and office supply stores, as needed) with a 5% payout that is worth 7.5% in travel when transferred to my CSR. It's a great deal.

Congrats on completing the Quadfecta!
Thanks for your guidance. I haven't completed the quadfecta yet, just the tri, but down the road, I definitely want the Ink to round it all out. I saw that $15k spend and, while it's just too rich for my blood right now, I would love the Ink Business Cash for the 5% for phone/internet/cable.

You're welcome, and good luck completing the QUAD-fecta later on. But yes, congrats on completing the TRI-fecta! I guess I was looking ahead for you and giving an early congrats! Lol Yeah, if you get the tri-fecta, and you are under 5/24 you might as well go "all-in" and get an INK card too! They can all play so well together.

Re: Question about applying for Chase Ink Business

Anonymous — Fri, 04 Jun 2021 03:37:39 GMT

On Wednesday (6/2/21), I opened a business checking account with chase. At the same time, I applied for the a business credit card: chase ink unlimited. My LLC is only 4 days old (est. 5/27/21). This morning, I received an email that said I was denied because my business was "too new". Though the business was new, the denial letter had my credit score listed at 814 (v2 Experian is used for those in California) so I definitely couldn't understand why I didn't get approved. I jumped on this forum and expressed my concerns and someone advised me to call and speak to Chase's "reconsideration" department. I spoke to the rep and he said "your business is too new". I kindly explained to him that it shouldn't matter how old or new a business is, especially if you are signing as a guarantee. That's the whole point of a guarantee in my opinion. I was put on hold and about 3 minutes later, he approved me for $3k which is their minimum. It's not much but it's a start for me and my new business.

Re: Question about applying for Chase Ink Business

2GreenThumbs — Fri, 04 Jun 2021 04:18:59 GMT

@Anonymous wrote:
On Wednesday (6/2/21), I opened a business checking account with chase. At the same time, I applied for the a business credit card: chase ink unlimited. My LLC is only 4 days old (est. 5/27/21). This morning, I received an email that said I was denied because my business was "too new". Though the business was new, the denial letter had my credit score listed at 814 (v2 Experian is used for those in California) so I definitely couldn't understand why I didn't get approved. I jumped on this forum and expressed my concerns and someone advised me to call and speak to Chase's "reconsideration" department. I spoke to the rep and he said "your business is too new". I kindly explained to him that it shouldn't matter how old or new a business is, especially if you are signing as a guarantee. That's the whole point of a guarantee in my opinion. I was put on hold and about 3 minutes later, he approved me for $3k which is their minimum. It's not much but it's a start for me and my new business.

Congratulations on your new Ink card and welcome to the forums!