topic Re: Approved - Chase Ink - Bigger limit than I expected in Business Credit

Approved - Chase Ink - Bigger limit than I expected

_bobby_lee — Mon, 14 Feb 2022 17:34:08 GMT

I have two personal card with Chase and was interested in the Ink Business Unlimited for my photography business. Annual revenue is about $25k at this point, and both of my personal cards with them have stingy limits of 4k and 6.5k. I applied 10 days ago and was in limbo over the weekend and was thinking it may be a denail, then got a Congratulations email but with no details. Had to wait another week until the card arrived in the mail this morning! Finally found out I was approved for $11k with 13.24% APR I am really surprised and pleased! My spend is not too high right now so I'm not sure I will make that great SUB of $750 but I'll put all my espenses on this card starting now and hope I get to it!

Re: Approved - Chase Ink - Bigger limit than I expected

Jordan23ww — Mon, 14 Feb 2022 17:50:33 GMT

Congratulations on your approval and nice starting limit!

Re: Approved - Chase Ink - Bigger limit than I expected

Anonymous — Mon, 14 Feb 2022 20:03:52 GMT

Good starting limit and Apr. Chase is looking favorably upon you!

Re: Approved - Chase Ink - Bigger limit than I expected

cashorcharge — Mon, 14 Feb 2022 20:09:48 GMT

That's terrific!! Congratulations on your Chase Approval!! 🎉🥂👏

Re: Approved - Chase Ink - Bigger limit than I expected

Alephbet — Mon, 14 Feb 2022 20:24:45 GMT

Congratulations!! That's a great starting limit!!

Re: Approved - Chase Ink - Bigger limit than I expected

Drwaz99 — Tue, 15 Feb 2022 09:00:29 GMT

Niiiice! Congrats!

Re: Approved - Chase Ink - Bigger limit than I expected

AceTen — Tue, 15 Feb 2022 20:43:07 GMT

Congrats on your new Ink card and fat approval! That's awesome! Thanks very much for sharing the data points as I would love to have the INK.

I am always sweating the signatures around here to see what limits people have on various cards to get an idea of what limit I may get if I apply for those cards. I rarely see INKs over 10k. A few highrollers have 25k or 50k but not many that I have seen. Just to give an example, I have 3 personal chase cards, all above 10k, and I would be over the moon to get approved for the INK, even at 3k or 5k! So you did very well, in my opinion.

Re: Approved - Chase Ink - Bigger limit than I expected

Conceptual23 — Tue, 15 Feb 2022 21:56:46 GMT

Congrats on the approval!

Re: Approved - Chase Ink - Bigger limit than I expected

AceTen — Tue, 15 Feb 2022 22:04:53 GMT

Sorry for the second reply and congrats again. I forgot to ask... Was this your first business card? Do you have any other business credit. Thanks in advance.

Re: Approved - Chase Ink - Bigger limit than I expected

SouthJamaica — Wed, 16 Feb 2022 15:25:56 GMT

@_bobby_lee wrote:
I have two personal card with Chase and was interested in the Ink Business Unlimited for my photography business. Annual revenue is about $25k at this point, and both of my personal cards with them have stingy limits of 4k and 6.5k. I applied 10 days ago and was in limbo over the weekend and was thinking it may be a denail, then got a Congratulations email but with no details. Had to wait another week until the card arrived in the mail this morning! Finally found out I was approved for $11k with 13.24% APR I am really surprised and pleased! My spend is not too high right now so I'm not sure I will make that great SUB of $750 but I'll put all my espenses on this card starting now and hope I get to it!

Yeah, before I got to the end of your post I was asking myself 'how is OP going to hit 7500 spend?" Good luck with that. Maybe prepay some bills, or use Plastiq or similar to make non-credit-card payments. And I would advise talking to Chase to make sure you know exactly when the 3 months begins and ends. And one thing I've always wondered about is whether the charge counts as of the transaction date or the posting date; these little details could make a difference in this case, since you'll probably be cutting it close. I don't think Chase would cut you any slack if you missed the SUB deadline by 3 days.

Re: Approved - Chase Ink - Bigger limit than I expected

_bobby_lee — Thu, 17 Feb 2022 17:33:40 GMT

@AceTen wrote:
Sorry for the second reply and congrats again. I forgot to ask... Was this your first business card? Do you have any other business credit. Thanks in advance.

I have the AMEX Blue Business Cash I applied for last July with a $9k limit that I used to buy a large item in the fall and have been making over the minumum payments on it since, but it still carrries a balance of over 50%. I also recently got the Wells Fargo Active cash since my business banking is with WF, and that one is rather new and a smaller limit of $5.5k and I've only used it once - the score they pulled for that one was 790, but I'm not sure if it was linked to my personal credit becuase my personal is sitting somewhere right around there too, or if that was representative of my business credit (don't have it straight which companies use personal credit info to make decisions) So yes, I know I do have young business credit established, but I'm not positive what that number is. I guess it could be that 790 Wells Fargo pulled - I did get hit with an inquiry on my personal report for that app though... so moral of the story - I'm not sure about what the score they saw was, but I did have some credit history with that AMEX card.

Re: Approved - Chase Ink - Bigger limit than I expected

AceTen — Thu, 17 Feb 2022 17:41:09 GMT

@_bobby_lee wrote:
@AceTen wrote:
Sorry for the second reply and congrats again. I forgot to ask... Was this your first business card? Do you have any other business credit. Thanks in advance.
I have the AMEX Blue Business Cash I applied for last July with a $9k limit that I used to buy a large item in the fall and have been making over the minumum payments on it since, but it still carrries a balance of over 50%. I also recently got the Wells Fargo Active cash since my business banking is with WF, and that one is rather new and a smaller limit of $5.5k and I've only used it once - the score they pulled for that one was 790, but I'm not sure if it was linked to my personal credit becuase my personal is sitting somewhere right around there too, or if that was representative of my business credit (don't have it straight which companies use personal credit info to make decisions) So yes, I know I do have young business credit established, but I'm not positive what that number is. I guess it could be that 790 Wells Fargo pulled - I did get hit with an inquiry on my personal report for that app though... so moral of the story - I'm not sure about what the score they saw was, but I did have some credit history with that AMEX card.

Thank you for the information. That is exactly what I wanted to know. Your business profile sounds sort of similar to mine as my first business card was about 6 months ago (US BANK triple cash) and my second is only a few onths old (FNBO evergreen). Maybe I have hope of getting the INK sooner than I thought! Good luck to you.

Re: Approved - Chase Ink - Bigger limit than I expected

_bobby_lee — Thu, 17 Feb 2022 17:49:23 GMT

@AceTen wrote:
@_bobby_lee wrote:
@AceTen wrote:
Sorry for the second reply and congrats again. I forgot to ask... Was this your first business card? Do you have any other business credit. Thanks in advance.
I have the AMEX Blue Business Cash I applied for last July with a $9k limit that I used to buy a large item in the fall and have been making over the minumum payments on it since, but it still carrries a balance of over 50%. I also recently got the Wells Fargo Active cash since my business banking is with WF, and that one is rather new and a smaller limit of $5.5k and I've only used it once - the score they pulled for that one was 790, but I'm not sure if it was linked to my personal credit becuase my personal is sitting somewhere right around there too, or if that was representative of my business credit (don't have it straight which companies use personal credit info to make decisions) So yes, I know I do have young business credit established, but I'm not positive what that number is. I guess it could be that 790 Wells Fargo pulled - I did get hit with an inquiry on my personal report for that app though... so moral of the story - I'm not sure about what the score they saw was, but I did have some credit history with that AMEX card.
Thank you for the information. That is exactly what I wanted to know. Your business profile sounds sort of similar to mine as my first business card was about 6 months ago (US BANK triple cash) and my second is only a few onths old (FNBO evergreen). Maybe I have hope of getting the INK sooner than I thought! Good luck to you.

You're very welcome, and best of luck to you as you decide when to hit that "submit" button for the Ink. As long as you are 1/12, 5/24 then you'll def get approved, but no telling what the limit would be. Honestly I don't feel like I deserved that limit - after you mentioned looking at other people's CLs in their signatures I did the same and saw several who's business revenue was waaayyy higher than mine and they got $3-4k limits.. really puzzled what data they saw that gave me favor since clearly it's not just revenue based. If I had to speculate, it could be the fact that I'm AZEO and paying a lot more than the minimum every month. Good luck!

Re: Approved - Chase Ink - Bigger limit than I expected

AceTen — Fri, 18 Feb 2022 01:16:04 GMT

If chase gave you the limit, then you deserve it! They like your overall profile. Thanks for the kind words and additional info. I do AZEO, and big payments as well and I stay under 5/24. I will probably go for it in 6 months. Cheers!

Re: Approved - Chase Ink - Bigger limit than I expected

SouthJamaica — Fri, 18 Feb 2022 03:08:26 GMT

@_bobby_lee wrote:
@AceTen wrote:
Sorry for the second reply and congrats again. I forgot to ask... Was this your first business card? Do you have any other business credit. Thanks in advance.
I have the AMEX Blue Business Cash I applied for last July with a $9k limit that I used to buy a large item in the fall and have been making over the minumum payments on it since, but it still carrries a balance of over 50%. I also recently got the Wells Fargo Active cash since my business banking is with WF, and that one is rather new and a smaller limit of $5.5k and I've only used it once - the score they pulled for that one was 790, but I'm not sure if it was linked to my personal credit becuase my personal is sitting somewhere right around there too, or if that was representative of my business credit (don't have it straight which companies use personal credit info to make decisions) So yes, I know I do have young business credit established, but I'm not positive what that number is. I guess it could be that 790 Wells Fargo pulled - I did get hit with an inquiry on my personal report for that app though... so moral of the story - I'm not sure about what the score they saw was, but I did have some credit history with that AMEX card.

Almost all issuers of business credit cards will pull your personal credit, and it was certainly a personal credit score as opposed to a business score.

Re: Approved - Chase Ink - Bigger limit than I expected

manbuckets — Fri, 18 Feb 2022 21:35:52 GMT

Congrats on your Chase Ink approval!

Re: Approved - Chase Ink - Bigger limit than I expected

EAJuggalo — Sat, 19 Feb 2022 01:29:18 GMT

Rather than looking at that SUB as $750, look at in the course of 75,000 UR. That paired with a Chase Premium card, CSR, CSP or Ink Preferred, could get you to Europe in the front of plane. Or a week at a nice hotel.

Re: Approved - Chase Ink - Bigger limit than I expected

_bobby_lee — Sat, 19 Feb 2022 02:00:47 GMT

@EAJuggalo wrote:
Rather than looking at that SUB as $750, look at in the course of 75,000 UR. That paired with a Chase Premium card, CSR, CSP or Ink Preferred, could get you to Europe in the front of plane. Or a week at a nice hotel.

That's so true. Thanks for the reminder! I may just have to pull the trigger early on the new camera I've been eyeing.

Re: Approved - Chase Ink - Bigger limit than I expected

LP007 — Sun, 20 Feb 2022 22:57:23 GMT

CONGRATZ!!!

Git 'em!!!

Re: Approved - Chase Ink - Bigger limit than I expected

Sanjo812 — Tue, 22 Feb 2022 19:37:06 GMT

@_bobby_lee wrote:
I have two personal card with Chase and was interested in the Ink Business Unlimited for my photography business. Annual revenue is about $25k at this point, and both of my personal cards with them have stingy limits of 4k and 6.5k. I applied 10 days ago and was in limbo over the weekend and was thinking it may be a denail, then got a Congratulations email but with no details. Had to wait another week until the card arrived in the mail this morning! Finally found out I was approved for $11k with 13.24% APR I am really surprised and pleased! My spend is not too high right now so I'm not sure I will make that great SUB of $750 but I'll put all my espenses on this card starting now and hope I get to it!

Congratulations!!!! I'm going to be going after my first Chase Ink card for my business later this year. Doing some gardenings for a few months.