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Approved - Chase Ink - Bigger limit than I expected

_bobby_lee
New Contributor

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


@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.

Cards are shown in chronological order of opening, 2014 - 2021.

Business Cards:
AMEX Blue Business Cash | $9,000 | July 2021
Wells Fargo Active Cash | $5,500 | Feb 2022
Chase Ink Business Unlimited | $11,000 | Feb 2022

Starting Score: 657
Current Score: 760 TU 748 EQ
Goal Score: 800+


Take the myFICO Fitness Challenge
Message 11 of 20
AceTen
Regular Contributor

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


@_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. 

Message 12 of 20
_bobby_lee
New Contributor

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


@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!

Cards are shown in chronological order of opening, 2014 - 2021.

Business Cards:
AMEX Blue Business Cash | $9,000 | July 2021
Wells Fargo Active Cash | $5,500 | Feb 2022
Chase Ink Business Unlimited | $11,000 | Feb 2022

Starting Score: 657
Current Score: 760 TU 748 EQ
Goal Score: 800+


Take the myFICO Fitness Challenge
Message 13 of 20
AceTen
Regular Contributor

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

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!

 

Message 14 of 20
SouthJamaica
Mega Contributor

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


@_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.


Total revolving limits 699000 (597000 reporting) FICO 8: EQ 732 TU 721 EX 698

Message 15 of 20
manbuckets
Regular Contributor

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

Congrats on your Chase Ink approval!

Current Cards/Loans:
Future Cards:
Message 16 of 20
EAJuggalo
Established Contributor

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

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.

EX700 TU 704 EQ 694 4/03/22
Cap1 QS-$4,500 Chase Freedom Flex- $800 Chase Freedom Unlimited- $1,000 Victoria's Secret- $1,200 Citi DC- $800 Amazon Store Card- $3,500 AMEX Hilton Honors-$1,000 Discover It-$1,000 Wal-Mart MC $290 Chase Sapphire Preferred-$5,000 NFCU Flagship $13,800 AMEX BCE-$1,000 AMEX Gold-$5,000 AMEX Delta Blue $1,000 Lowe's $5,000 Navy Platinum $17,000 AMEX BBP $2,000
Message 17 of 20
_bobby_lee
New Contributor

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


@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.

Cards are shown in chronological order of opening, 2014 - 2021.

Business Cards:
AMEX Blue Business Cash | $9,000 | July 2021
Wells Fargo Active Cash | $5,500 | Feb 2022
Chase Ink Business Unlimited | $11,000 | Feb 2022

Starting Score: 657
Current Score: 760 TU 748 EQ
Goal Score: 800+


Take the myFICO Fitness Challenge
Message 18 of 20
LP007
Frequent Contributor

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

CONGRATZ!!!

 

Git 'em!!!Smiley LOL





Message 19 of 20
Sanjo812
Contributor

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


@_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.

Eight Twelve Consulting
Message 20 of 20
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