Chase Ink Business Cash

[kshurika]

I read on Million Mile Secrets that Chase has upped it's bonus on IBC from 30K to 50K after a 3K spend in three months. According to the article, this is the highest bonus Chase has ever offered on this card.  I know numerous people who have business cards, yet have never been within 1000 miles of their own business. What are the requirements that a bank like Chase wants to see in order to grant a business card? 

[UpperNwGuy]

I openly admit that I don't have a business, so I don't apply for business cards.  However, common sense tells me that two simple (objective) tests of whether or not you have a business are:

-- Does the IRS think you have a business?  Is business income or loss reported on your tax return?

-- If the city or county you live in requires a business license, do you have such a license?

[kshurika]

Good point, except that I know quite a few people who are well-off, decent, honest, moral people who laugh at the fact that they've never had a separate business, yet they get business cards - particularly Chase Ink. Apparently, Chase doesn't ask too many questions. I'll probably wind up going to one of these people and ask him how he did it, but I thought I'd come here first. Thanks for the rapid answer.

[Anonymous]

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@kshurikawrote:
Good point, except that I know quite a few people who are well-off, decent, honest, moral people who laugh at the fact that they've never had a separate business, yet they get business cards - particularly Chase Ink. Apparently, Chase doesn't ask too many questions. I'll probably wind up going to one of these people and ask him how he did it, but I thought I'd come here first. Thanks for the rapid answer.

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I’d question the validity of ‘decent, honest, moral’ if they are committing fraud by applying for a business card when they don’t even remotely have a business.  Nothing says you can’t apply for a business card if you have a small, even part time side business but to do so when even that’s not the case is very unethical at the least.

[steelers1]

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@Anonymouswrote:

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@kshurikawrote:
Good point, except that I know quite a few people who are well-off, decent, honest, moral people who laugh at the fact that they've never had a separate business, yet they get business cards - particularly Chase Ink. Apparently, Chase doesn't ask too many questions. I'll probably wind up going to one of these people and ask him how he did it, but I thought I'd come here first. Thanks for the rapid answer.

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I’d question the validity of ‘decent, honest, moral’ if they are committing fraud by applying for a business card when they don’t even remotely have a business.  Nothing says you can’t apply for a business card if you have a small, even part time side business but to do so when even that’s not the case is very unethical at the least.

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Not always true.

I know some folks who have them because they do alot of traveling for work and they get reimbursed for those expenses in lieu of have them fronted. So they reap the benefits of fronting their business expenses.

For others that do it just for personal rewards chasing gain, thats just wrong.

I'm sure that if your using you business card to buy groceries and other personal items they would have algortithms in place to sniff that out.

[Anonymous]

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@steelers1wrote:

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@Anonymouswrote:

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@kshurikawrote:
Good point, except that I know quite a few people who are well-off, decent, honest, moral people who laugh at the fact that they've never had a separate business, yet they get business cards - particularly Chase Ink. Apparently, Chase doesn't ask too many questions. I'll probably wind up going to one of these people and ask him how he did it, but I thought I'd come here first. Thanks for the rapid answer.

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I’d question the validity of ‘decent, honest, moral’ if they are committing fraud by applying for a business card when they don’t even remotely have a business.  Nothing says you can’t apply for a business card if you have a small, even part time side business but to do so when even that’s not the case is very unethical at the least.

---

Not always true.

I know some folks who have them because they do alot of traveling for work and they get reimbursed for those expenses in lieu of have them fronted. So they reap the benefits of fronting their business expenses.

For others that do it just for personal rewards chasing gain, thats just wrong.

I'm sure that if your using you business card to buy groceries and other personal items they would have algortithms in place to sniff that out.

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Traveling for work is not a business and I can assure you that if you told the creditor that was your ‘business ‘ they would deny your application.  You don’t need a business card to get reimbursed from your  employer.  The vast majority of business travelers that use a credit card for expenses that are reimbursable use their own personal cards.  Lots of people have justifications for doing something that is unethical and telling a bank that you have a business when in fact you don’t is unethical and fraud.  In the end if you don’t have a business and apply for one then you are doing it for one reason - the bonus 

[steelers1]

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@Anonymouswrote:

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@steelers1wrote:

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@Anonymouswrote:

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@kshurikawrote:
Good point, except that I know quite a few people who are well-off, decent, honest, moral people who laugh at the fact that they've never had a separate business, yet they get business cards - particularly Chase Ink. Apparently, Chase doesn't ask too many questions. I'll probably wind up going to one of these people and ask him how he did it, but I thought I'd come here first. Thanks for the rapid answer.

---

I’d question the validity of ‘decent, honest, moral’ if they are committing fraud by applying for a business card when they don’t even remotely have a business.  Nothing says you can’t apply for a business card if you have a small, even part time side business but to do so when even that’s not the case is very unethical at the least.

---

Not always true.

I know some folks who have them because they do alot of traveling for work and they get reimbursed for those expenses in lieu of have them fronted. So they reap the benefits of fronting their business expenses.

For others that do it just for personal rewards chasing gain, thats just wrong.

I'm sure that if your using you business card to buy groceries and other personal items they would have algortithms in place to sniff that out.

---

Traveling for work is not a business and I can assure you that if you told the creditor that was your ‘business ‘ they would deny your application.  You don’t need a business card to get reimbursed from your  employer.  The vast majority of business travelers that use a credit card for expenses that are reimbursable use their own personal cards.  Lots of people have justifications for doing something that is unethical and telling a bank that you have a business when in fact you don’t is unethical and fraud.  In the end if you don’t have a business and apply for one then you are doing it for one reason - the bonus 

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If the credit card companies that issue business credit cards would requires an EIN number for every business application then that would close that unethical and fraudulent door. But they let you use your social or EIN number. They are leaving the door open for this activity. Their greed sometimes gets in the way of their own rules.

I've been self-employed since 1991 and I have had an EIN number since I started. You do not need employees to have one. Any ligit self employed individual can obtain one.

[BronzeTrader]

When my kid asked me for the research on Confucius, I noticed the word "morality".  This is something we are lacking.

[Anonymous]

Trying for the Business Ink Cash CC next month with the "Sole Proprietor" and SS method and will follow up with a CSP soon after.

Had no problems getting a CitiBuisiness AAdvantage Platinum Select early last year the same way. 

[Credit-hoarder]

Is there even an option on the form to app for this card as a sole proprietor? I'm thinking of app-ing for this card in August when I'm back under 5/24 if there is (and yes I do have an online p/t business).