topic Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message in Business Credit

Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 27 Jan 2022 17:20:38 GMT

I have following Chase Cards:

Sapphire Reserve (CL: $70K)
Feerdom (CL: $15K)
Marriott (CL: 10K)
Business Ink Unlimited (CL: $20K)

Chase Checking Accounts:
Personal
Business

Business Type: S Corporation

No Chase Credit Card Applied in last 24 months! Personal Income is $750K. Business Income is $1.7M. Credit Utilization is below 1%. Total Credit from all cards is $242,000. Last card applied and approved was Wells Fargo (CL: $30K) on August 2021. Just 2 inquiries on EXP and EFX.

What do you guys think? Odds of approval and possible credit limit.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

dragontears — Thu, 27 Jan 2022 16:03:39 GMT

@s_haliz wrote:
I have following Chase Cards:

Sapphire Reserve (CL: $70K)
Feerdom (CL: $15K)
Marriott (CL: 10K)
Business Ink Unlimited (CL: $20K)

Chase Checking Accounts:
Personal
Business

Business Type: S Corporation

No Chase Credit Card Applied in last 24 months! Personal Income is $750K. Business Income is $1.7M. Credit Utilization is below 1%. Total Credit from all cards is $242,000. Last card applied and approved was Wells Fargo (CL: $30K) on August 2021. Just 2 inquiries on EXP and EFX.

What do you guys think? Odds of approval and possible credit limit.

How many total cards have you gotten in the last 24 months? Chase's 5/24 rule is ALL revolving accounts opened in the last 24 months (that report on your personal reports) not the number of chase cards.....

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 27 Jan 2022 16:05:31 GMT

@dragontears wrote:
@s_haliz wrote:
I have following Chase Cards:

Sapphire Reserve (CL: $70K)
Feerdom (CL: $15K)
Marriott (CL: 10K)
Business Ink Unlimited (CL: $20K)

Chase Checking Accounts:
Personal
Business

Business Type: S Corporation

No Chase Credit Card Applied in last 24 months! Personal Income is $750K. Business Income is $1.7M. Credit Utilization is below 1%. Total Credit from all cards is $242,000. Last card applied and approved was Wells Fargo (CL: $30K) on August 2021. Just 2 inquiries on EXP and EFX.

What do you guys think? Odds of approval and possible credit limit.

How many total cards have you gotten in the last 24 months? Chase's 5/24 rule is ALL revolving accounts opened in the last 24 months (that report on your personal reports) not the number of chase cards.....

Just one card - Wells Fargo. So 1/24 in the eyes of Chase. Total Cards I have are 8

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

AceTen — Thu, 27 Jan 2022 18:19:16 GMT

I don't know much about business credit cards as I recently got my first two from US Bank and FNBO. But I'm a gambler so if you want odds then I am obliged to give them as I read a lot of posts on this website and I have some chase cards (no Chase bus, yet).

I would give you over 90% approval odds, if not 95%. If I had to bet on your credit limit I would say 10k, at least, as long as you have not hit their internal limit. I suspect that would be the only way you could get denied.

Good luck! I will be sweating this thread so please let us know what happens. I hope to get this card myself after I establish some more business credit so I am rooting for you!

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 27 Jan 2022 18:28:04 GMT

@AceTen wrote:
I don't know much about business credit cards as I recently got my first two from US Bank and FNBO. But I'm a gambler so if you want odds then I am obliged to give them as I read a lot of posts on this website and I have some chase cards (no Chase bus, yet).

I would give you over 90% approval odds, if not 95%. If I had to bet on your credit limit I would say 10k, at least, as long as you have not hit their internal limit. I suspect that would be the only way you could get denied.

Good luck! I will be sweating this thread so please let us know what happens. I hope to get this card myself after I establish some more business credit so I am rooting for you!

Thank you so much for your response. I am keeping my fingers crossed.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

4sallypat — Thu, 27 Jan 2022 18:47:08 GMT

It's normal to receive the 30 day message.

Others have reported the same wait for all Chase business products.

From your profile, relationship banking and scores - it's a very good chance you would be approved.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 27 Jan 2022 18:55:34 GMT

@4sallypat wrote:
It's normal to receive the 30 day message.

Others have reported the same wait for all Chase business products.

From your profile, relationship banking and scores - it's a very good chance you would be approved.

Thanks. Just to give you and others further update:

When I call 800 Number to check the status, it says pending and two weeks. So 30 days reduced to 2 weeks. Feeling much more positive.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 27 Jan 2022 20:24:46 GMT

My guess:

Application would be approved.
Credit Limit would be no less than $20,000 and could be as high as $40,000.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 27 Jan 2022 20:45:13 GMT

Folks,

My Experien and Equifax Credit Reports (and possibly scores) were checked. I got hit of 7 points from my FICO scores.... Haven't seen that large hit. Normally 3 to 5 points. Sometimes none at all.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

Citylights18 — Fri, 28 Jan 2022 05:17:30 GMT

@s_haliz wrote:
@4sallypat wrote:
It's normal to receive the 30 day message.

Others have reported the same wait for all Chase business products.

From your profile, relationship banking and scores - it's a very good chance you would be approved.

Thanks. Just to give you and others further update:

When I call 800 Number to check the status, it says pending and two weeks. So 30 days reduced to 2 weeks. Feeling much more positive.

I never had to wait that long for news on any of my Chase cards and I have the same ones you have (Hyatt instead of Marriott).

Everything seems quicker/smoother if you apply in branch with Chase.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Fri, 28 Jan 2022 06:04:06 GMT

@Citylights18 wrote:
@s_haliz wrote:
@4sallypat wrote:
It's normal to receive the 30 day message.

Others have reported the same wait for all Chase business products.

From your profile, relationship banking and scores - it's a very good chance you would be approved.

Thanks. Just to give you and others further update:

When I call 800 Number to check the status, it says pending and two weeks. So 30 days reduced to 2 weeks. Feeling much more positive.

I never had to wait that long for news on any of my Chase cards and I have the same ones you have (Hyatt instead of Marriott).

Everything seems quicker/smoother if you apply in branch with Chase.

Thank you for your response. Two weeks is not uncommon. And it could be shorter. Other than opening up my Business Checking Account, I don't utilize Branch.

Credit Cards - Many of us do apply online. My best guess is that within a week I should know decision and even the Credit Limit. Fingers crossed.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 03 Feb 2022 21:11:46 GMT

@s_haliz wrote:
My guess:

Application would be approved.
Credit Limit would be no less than $20,000 and could be as high as $40,000.

It is now time for me to update you all about the Chase's Decision on my application:

As expected, I am approved. No suprise here!
My credit limit is $25,000. Bit surprised by lower limit. But then again, still within my expectations of $20,000 minimum!

Thank you all and have a wonderful rest of the day and weekend!

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

Red1Blue — Thu, 03 Feb 2022 22:56:16 GMT

@s_haliz wrote:
@s_haliz wrote:
My guess:

Application would be approved.
Credit Limit would be no less than $20,000 and could be as high as $40,000.
It is now time for me to update you all about the Chase's Decision on my application:
As expected, I am approved. No suprise here!
My credit limit is $25,000. Bit surprised by lower limit. But then again, still within my expectations of $20,000 minimum!
Thank you all and have a wonderful rest of the day and weekend!

Congrats on your Chase Ink Cash Approval. Time to celebrate.

Re: Applied Chase Business Ink Cash on 1/25 ..... 30 days message

s_haliz — Thu, 03 Feb 2022 22:57:38 GMT

@Red1Blue wrote:
@s_haliz wrote:
@s_haliz wrote:
My guess:

Application would be approved.
Credit Limit would be no less than $20,000 and could be as high as $40,000.
It is now time for me to update you all about the Chase's Decision on my application:
As expected, I am approved. No suprise here!
My credit limit is $25,000. Bit surprised by lower limit. But then again, still within my expectations of $20,000 minimum!
Thank you all and have a wonderful rest of the day and weekend!
Congrats on your Chase Ink Cash Approval. Time to celebrate.

Thank you. Yes, indeed.