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

[s_haliz]

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.  

 

[dragontears]

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@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.  

 

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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.....

[s_haliz]

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@dragontears wrote:

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@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.  

 

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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.....

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

[AceTen]

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!

[s_haliz]

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@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!

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

[4sallypat]

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.

[s_haliz]

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@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.

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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. 

[s_haliz]

My guess: 

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

[s_haliz]

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. 

[Citylights18]

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@s_haliz wrote:

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@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.

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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. 

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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.