Chase Business vs AMEX. A rant + Approval X2

Jervo007 · ‎12-06-2021

I am beyond annoyed at how long its taking to get approved for the Chase Ink Business Cash card. I applied almost a MONTH ago. Applied with my SSN and EIN. I have a personal and business checking account with Chase too, and a CSP. They're blaming it on a backlog of applications. And I just feel like all that's telling me is they have a terrible system in place. I wanted to use the card + some of the SUB spend on software for my business. This was a Cyber Monday 50% off deal and luckily the vendor is giving me extra time.

Reading further, it seems like Chase gives really low SLs for their business cards. Something I didn't really think much of. My CSP SL was $17,900 so I figured with my revenue of $130k I wouldn't really need to worry. But I'm seeing SLs @ $3,000 with about my same credit score of 760+...pretty weak.

So, I call Chase again this morning. And I get a different explanation from last week. The app is pending, nothing they can do to give me yes/no answer. So, I log on to my Amex account right after getting off the phone, and fire off an app for the Blue Business Plus Card. No hard pull + submitted my EIN... Provided a few extra docs and was approved immediately w/ SL of $12,600, 0% APR for 12 months. This is was I was expecting out of Chase !

Now, I just feel like calling Chase and yanking my app, but the hardpull is stopping me cause what a waste for nothing. Anyhow.. just needed to get this off my chest so I didn't take it out on the familly cat.

*** EDIT Chase ended up approving me today finally. SL, $5,000. Bit of a bummer. My business is pretty new. So assuming this was the reason.

BearsCubsOtters · ‎12-06-2021

@Jervo007 When I applied for my first Chase Ink (Unlimited) it was not instantly approved. A few weeks later I received a letter asking for proof of address. That was kind of weird as I used the same house address I had for 15 years. The only thing I can think of is that my Chase personal cards have my PO Box address so when I applied for Ink using the house (which I had to, they did not accept a PO Box) it may have caused them to inquire. Sent it in and was approved.

Have you received a letter at all from them regarding what they may need? Regardless of their staffing issues, the letter would be automated and should have made it to you prior to a month.

I have seen some lower SL's on the Ink but there may be reasons for it. Such as: meeting existing Chase internal limits across all cards, length of business etc. My Ink cards' SLs were $12,000 and $10,000.

I would say that if you are having this many issues to go into a Chase branch (make sure you do not need an appointment first) and talk to a Business Relationship Manager. They may be able to get an answer and push things through. The Ink Cash is worth the effort.

Congrats on the Amex; Amex does tend to be a lot more user friendly. I just personally prefer my Ink cards' rewards and Visa acceptance.

Jervo007 · ‎12-06-2021

@BearsCubsOtters

I did get an email from them a few days after asking for some business docs. Uploaded them immediately. I also wanted to stick to Visa for the business vs Amex.

Now I'll have both.

I think someone @ Chase read this thread cause I just got an email 10 minutes ago saying I was approved. Haha. So we'll see which of the two cards show up in the mail first. Checked my app. Card hasn't populated yet. So I don't know the SL. Will update.

Thanks!

BearsCubsOtters · ‎12-06-2021

@Jervo007 wrote:
@BearsCubsOtters

I did get an email from them a few days after asking for some business docs. Uploaded them immediately. I also wanted to stick to Visa for the business vs Amex.

Now I'll have both.

I think someone @ Chase read this thread cause I just got an email 10 minutes ago saying I was approved. Haha. So we'll see which of the two cards show up in the mail first. Checked my app. Card hasn't populated yet. No don't know the SL. Will update.

Thanks!

@Jervo007

Thats great news! Congrats!

4sallypat · ‎12-07-2021

Congrats on both biz cards!

I got denied instantly by Chase for the Ink cash card.

This was after I waited until I was at 3/24 and apped Chase first - they did a EX HP.

My guess is that Chase does not like me.?!?

So I go off to app for the Amex Amazon Prime Business and FNBO Business = BAM instant approvals!

$13K and $15K SL.

I am over Chase and will probably just sock drawer my personal Chase cards with zero balance as they are my oldest accounts....