topic Re: Chase Ink in Credit Cards

Chase Ink

Anonymous — Wed, 12 Jun 2013 02:27:46 GMT

Although I understand it's a business card but I wonder where there is so little info in this forum on Chase Ink. I was planning to apply for this card soon and have a few questions:

1) This will be my first Chase card. I once had a checking with them which I closed. Also once had a car financed through them which I later re-financed with a CU. Do you know if Chase prefers this card for people who already have a Chase card for sometime or if there's nothing like that?

2) Which is the easiest-to-get-approved card among Inks?

3) In your opinion, which of these cards would be best to get in with Chase? Please only name of these cards as I have a few goals in mind 1) United MileagePlus Explorer 2) CSP 3) Ink

Here's how my profile look like:

TU Score: 715

AAoA: 1 Year

Oldest Account: 1.5 years

No baddies at all

Local CU Card: $2,500

Discover IT: $1,500

Local Bank Card: $500

Auto Loan: $15,000

Personal Loan: $10,000

Income: Around $110k

Re: Chase Ink

myjourney — Wed, 12 Jun 2013 02:31:33 GMT

@Anonymous wrote:
Although I understand it's a business card but I wonder where there is so little info in this forum on Chase Ink. I was planning to apply for this card soon and have a few questions:

1) This will be my first Chase card. I once had a checking with them which I closed. Also once had a car financed through them which I later re-financed with a CU. Do you know if Chase prefers this card for people who already have a Chase card for sometime or if there's nothing like that?

2) Which is the easiest-to-get-approved card among Inks?

3) In your opinion, which of these cards would be best to get in with Chase? Please only name of these cards as I have a few goals in mind 1) United MileagePlus Explorer 2) CSP 3) Ink

Here's how my profile look like:

TU Score: 715
AAoA: 1 Year
Oldest Account: 1.5 years
No baddies at all
Local CU Card: $2,500
Discover IT: $1,500
Local Bank Card: $500
Auto Loan: $15,000
Personal Loan: $10,000
Income: Around $110k

Check the business forum more about it there trust me

Chase ink cash easiest to get IMO

Re: Chase Ink

Manny121 — Wed, 12 Jun 2013 02:35:33 GMT

@Anonymous wrote:
Although I understand it's a business card but I wonder where there is so little info in this forum on Chase Ink. I was planning to apply for this card soon and have a few questions:

1) This will be my first Chase card. I once had a checking with them which I closed. Also once had a car financed through them which I later re-financed with a CU. Do you know if Chase prefers this card for people who already have a Chase card for sometime or if there's nothing like that?

2) Which is the easiest-to-get-approved card among Inks?

3) In your opinion, which of these cards would be best to get in with Chase? Please only name of these cards as I have a few goals in mind 1) United MileagePlus Explorer 2) CSP 3) Ink

Here's how my profile look like:

TU Score: 715
AAoA: 1 Year
Oldest Account: 1.5 years
No baddies at all
Local CU Card: $2,500
Discover IT: $1,500
Local Bank Card: $500
Auto Loan: $15,000
Personal Loan: $10,000
Income: Around $110k

I'm a personal banker for chase and I can tell you that from my experience ..9 times out of 10 ...the customer has to have an existing business checking with chase with established history at least 2 years or the business has to have a strong credit background....orrrr a significant deposit balance in your business checking account. Regardless of anything, Chase likes to see that you have a business checking relationship with them ...not to discourage you ..but I would do more research if you are looking to apply for this card.

Re: Chase Ink

Anonymous — Wed, 12 Jun 2013 02:40:47 GMT

Manny121

Thank you for your reply. One of my friends got denied for this card recently. Although they didn't mention anything like you did, but they did say that they would like to see some more credit history with Chase. So I tend to believe what you're saying.

Re: Chase Ink

Manny121 — Wed, 12 Jun 2013 02:54:03 GMT

@Anonymous wrote:
Manny121

Thank you for your reply. One of my friends got denied for this card recently. Although they didn't mention anything like you did, but they did say that they would like to see some more credit history with Chase. So I tend to believe what you're saying.

Definately....no problem ...one thing I forgot to mention is of course, besides the business credit history and/or the business checking deposit balances....it would also greatly help if you have a strong personal credit history ...so its a mix of those 3 things in reality ... whatever the case is ...just take your time and make sure its the move you want to make.

Re: Chase Ink

parakleet — Wed, 12 Jun 2013 03:14:48 GMT

@Anonymous wrote:
Manny121

Thank you for your reply. One of my friends got denied for this card recently. Although they didn't mention anything like you did, but they did say that they would like to see some more credit history with Chase. So I tend to believe what you're saying.

This may be the case when dealing with a banker but my DH was just approved for the Ink Bold and he did not have a business checking account or a long history with Chase so YMMV.

Re: Chase Ink

Open123 — Wed, 12 Jun 2013 03:33:50 GMT

In my view, for business cards, whatever you need to do to qualify for the Ink cards is well worth the effort. For my money (aside from my bias towards Amex), I'd have to say objectively that the Inks are the "best in class" business cards.

I think they're even better than Amex, especially if their Bold can mimic Amex's dynamic true NPSL.

PS - Unlike other Banks, Chase has a very comprehensive business ID procedure. They won't even accept a "business checking account" as proof a business exists, unless it's from them.

Re: Chase Ink

n777ua — Wed, 12 Jun 2013 03:39:37 GMT

Maybe its different going through a banker, but my Ink was approved fairly easily with no business relationship with Chase. Also, if you scan the interweb there is TONS of people getting this card for the sign up bonus that don't even have a real business. Selling something on eBay ? Then you have a business. However, when I apped I did have a TIN I used and an LLC setup which may have helped push the app through.

Re: Chase Ink

Anonymous — Wed, 12 Jun 2013 03:41:21 GMT

n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus

Re: Chase Ink

kromix — Wed, 12 Jun 2013 03:47:20 GMT

For what its worth, none of the things mentioned here applied to me, but of course always YMMV.....

1) I have zero accounts with chase, only 1 ever and it was a Chase mortgage which I defaulted, short sold and Chase took a $160k loss, 6 years ago still on my reports.

2) Their Business ID procedure was basically non-existant, I don't have a business.

3) I have zero business established history

I was approved today for $3k. My lowest CL by $6k yet.

Re: Chase Ink

n777ua — Wed, 12 Jun 2013 03:48:52 GMT

@Anonymous wrote:
n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus

Neither would I. Maybe I should've made myself more clear, I do have a legitimate business. However, there are many, many apps that are getting approved as "sole proprietorships" without what I would call a real business.

Re: Chase Ink

myjourney — Wed, 12 Jun 2013 03:49:15 GMT

@Anonymous wrote:
n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus

I wouldn't risk it either but sure enough n77ua is correct up until about 4-6 months ago before Chase caught it a lot of people were doing it and using Amazon as the business because they sold through them.. Chase has started asking for TIN / EIN numbers now and verifying existence of a real business

Re: Chase Ink

Open123 — Wed, 12 Jun 2013 03:55:37 GMT

If long term "travel" rewards are important, then I certainly don't think the risk is worth alienating Chase; however, for short term gain, I can see where some take the risk to reap the bonus of these 2 Ink cards, which equals to 100K + 5X at Office stores.

PS - Sole Propietorships using one's social are legitimate businesses.

Re: Chase Ink

myjourney — Wed, 12 Jun 2013 03:53:33 GMT

@kromix wrote:
For what its worth, none of the things mentioned here applied to me, but of course always YMMV.....

1) I have zero accounts with chase, only 1 ever and it was a Chase mortgage which I defaulted, short sold and Chase took a $160k loss, 6 years ago still on my reports.

2) Their Business ID procedure was basically non-existant, I don't have a business.

3) I have zero business established history

I was approved today for $3k. My lowest CL by $6k yet.

Prime example .....be careful even tho you have been approved they are checking for legit business... even amex I was approved for amex business card last week today I got an alert from DNB they checked my business credit as well

Re: Chase Ink

Manny121 — Wed, 12 Jun 2013 03:57:01 GMT

@n777ua wrote:
Maybe its different going through a banker, but my Ink was approved fairly easily with no business relationship with Chase. Also, if you scan the interweb there is TONS of people getting this card for the sign up bonus that don't even have a real business. Selling something on eBay ? Then you have a business. However, when I apped I did have a TIN I used and an LLC setup which may have helped push the app through.

Well I'm assuming every situation has it's exception and I can only speak from what I encounter on a day to day basis at work ....but I wouldn't be surprised if these situations are the reason why now they are being extra cautious with audits regarding busines accounts ..all of a sudden 2 months til now they have been scrutinizing business loan apps/credit cards and making sure business paperwork is in place ....cant say for sure.....

Re: Chase Ink

Anonymous — Wed, 12 Jun 2013 04:00:49 GMT

@n777ua wrote:
@Anonymous wrote:
n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus
Neither would I. Maybe I should've made myself more clear, I do have a legitimate business. However, there are many, many apps that are getting approved as "sole proprietorships" without what I would call a real business.

Yea I heard about those app waves. A lot of blogs were covering about it too.

I was tempted to, but decided it might be too much work for what it's worth. I'm self employed, but I'm really just doing stock trades and property investments. Not a "typical" day job so I didn't want to push my luck.

Re: Chase Ink

n777ua — Wed, 12 Jun 2013 04:04:44 GMT

Also FWIW there has been anecdotal evidence that Amex has been FR'ing a ton of the new BRG accounts with the 50k bonus. A lot of new accounts are charging up thousands in a few days buying gift cards. Fasttracking themselves to FR-land and ending their Amex relationship for good. I have the BRG and I'm trying to meet the $5k threshold, but I'm doing it legitimately. My relationship with Amex is just too important. In fact, I would consider Chase and Amex my "can't live without" banks.

Re: Chase Ink

Anonymous — Wed, 12 Jun 2013 04:08:33 GMT

@n777ua wrote:
Also FWIW there has been anecdotal evidence that Amex has been FR'ing a ton of the new BRG accounts with the 50k bonus. A lot of new accounts are charging up thousands in a few days buying gift cards. Fasttracking themselves to FR-land and ending their Amex relationship for good. I have the BRG and I'm trying to meet the $5k threshold, but I'm doing it legitimately. My relationship with Amex is just too important. In fact, I would consider Chase and Amex my "can't live without" banks.

Same thing going on with Citi right now.

As for Chase, it was going on for a bit. Nowadays there doesn't seem to be any mass account closures, but it's still something they pay close attention to.

Re: Chase Ink

Open123 — Wed, 12 Jun 2013 04:11:44 GMT

@n777ua wrote:
Also FWIW there has been anecdotal evidence that Amex has been FR'ing a ton of the new BRG accounts with the 50k bonus. A lot of new accounts are charging up thousands in a few days buying gift cards. Fasttracking themselves to FR-land and ending their Amex relationship for good. I have the BRG and I'm trying to meet the $5k threshold, but I'm doing it legitimately. My relationship with Amex is just too important. In fact, I would consider Chase and Amex my "can't live without" banks.

Right, for all the reasons you've listed, the BRG is the most often FR'ed card out of them all. Chase will follow a similar path to account closure (with no FR) for their UR cards if they detect a level of "perk abuse" they can't tolerate.

For travel rewards, Chase and Amex are irreplaceable. No other issuer has a travel reward program (in terms of travel rewards partners) even close to Chase and Amex's, in my view.

Re: Chase Ink

n777ua — Wed, 12 Jun 2013 04:13:52 GMT

Someone on another forum bought -40- $200 visa gc's from Office Max since you can get $10 off of $200 this week. They have to be done in separate trans, so it took him almost an hour to check out and he got up to 36 before Chase fraud-alerted the card. THESE are the people causing the account closures. I bought a couple of the $200's today...but -40-...effing crazy.