Chase Ink Business Preferred Approval (a very convoluted tale)

[bustout]

Over 22 years ago I was approved for a Jumbo mortgage from Chase and all was well. There was Chase credit, Washington Mutual became Chase and all was good. 

Personal Bankruptcy and although I did pay off the mortgage in 5 years, my cards were a victim of the bankruptcy.

Fast forward to a new venture with difficulties and the partner, who maintains a personal banker with Chase maintained debts were incurred by me and he did not owe them. His company is a valued Chase customer. Chase informed him I was authorized and the debts were under his cards but it was about $5K and they would absorb the charge; however, the business venture had been dissolved. Chase did not pursue me for the money but wanted me to sign some sort of responsibility form letter. Not happy with the language in the letter, which somehow had me admitting guilt, yet not paying anything, I took the legal route and won against their house counsel.

Whenever I applied for any Chase card I am immediately denied. My business (18 years old) obtained some large contracts and I attempted to open a Chase personal checking to try and get back in that way. I was approved, money transferred....and returned in about two weeks informing me they would close my account.

I applied online for the Business Preferred and was shockingly approved for 30K. Aside from my history with Chase, my personal data points do not justify that. I've been trying personal preapprovals for years just to see how fast the denial pops up. There are a few credit cards that rely solely on my corporate Dun & Bradstreet, but they are not running a credit check on me personally the way all the alerts came up when Chase just approved me. My corporate DnB is aged and has a flawless payment history of over 18 years, but even there I have been listed as the sole shareholder for two years. 

I am not trying to curse my good fortune, but I am not sure I should push it by trying to move some funds over to Chase? Has anyone else had their company take that much of precedence over their personal credit? It is a surprise in today's marketplace to me. Is this a Chase-only thing now? MultiServe/Trevipay have done this high an approval with just the EIN but Chase was very clear they were going to and did run my personal credit. I'm not even at 700 with any bureau. 

[MyFault]

Congrats on your approval!

[CreditAficionado9]

I discharged some Chase cc debt in a Ch7BK several years ago. For years they wouldn't even let me open a personal checking or savings account. They finally let me back in with a checking account however they wouldn't let me touch their personal credit cards. Decided to open a business checking account and boom approved for an Ink Cash. They still won't approve me for a personal card but that's okay because the biz cards provide more value.

[Anonymous]

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@CreditAficionado9 wrote:

I discharged some Chase cc debt in a Ch7BK several years ago. For years they wouldn't even let me open a personal checking or savings account. They finally let me back in with a checking account however they wouldn't let me touch their personal credit cards. Decided to open a business checking account and boom approved for an Ink Cash. They still won't approve me for a personal card but that's okay because the biz cards provide more value.

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That is awesome,

what are the dp's?

[Anonymous]

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@bustout wrote:

Over 22 years ago I was approved for a Jumbo mortgage from Chase and all was well. There was Chase credit, Washington Mutual became Chase and all was good. 

Personal Bankruptcy and although I did pay off the mortgage in 5 years, my cards were a victim of the bankruptcy.

Fast forward to a new venture with difficulties and the partner, who maintains a personal banker with Chase maintained debts were incurred by me and he did not owe them. His company is a valued Chase customer. Chase informed him I was authorized and the debts were under his cards but it was about $5K and they would absorb the charge; however, the business venture had been dissolved. Chase did not pursue me for the money but wanted me to sign some sort of responsibility form letter. Not happy with the language in the letter, which somehow had me admitting guilt, yet not paying anything, I took the legal route and won against their house counsel.

Whenever I applied for any Chase card I am immediately denied. My business (18 years old) obtained some large contracts and I attempted to open a Chase personal checking to try and get back in that way. I was approved, money transferred....and returned in about two weeks informing me they would close my account.

I applied online for the Business Preferred and was shockingly approved for 30K. Aside from my history with Chase, my personal data points do not justify that. I've been trying personal preapprovals for years just to see how fast the denial pops up. There are a few credit cards that rely solely on my corporate Dun & Bradstreet, but they are not running a credit check on me personally the way all the alerts came up when Chase just approved me. My corporate DnB is aged and has a flawless payment history of over 18 years, but even there I have been listed as the sole shareholder for two years. 

I am not trying to curse my good fortune, but I am not sure I should push it by trying to move some funds over to Chase? Has anyone else had their company take that much of precedence over their personal credit? It is a surprise in today's marketplace to me. Is this a Chase-only thing now? MultiServe/Trevipay have done this high an approval with just the EIN but Chase was very clear they were going to and did run my personal credit. I'm not even at 700 with any bureau. 

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That is awesome that you were able to get back in but on the business level. Maybe after sometime they might ease up a bit. Wish you the best.

[CreditAficionado9]

@Anonymous Thank you. My personal profile was young+thin but I made sure all the negs were off the report only had 1 inquiry (1/24) showing on Ex. My biz was only was only a couple months old with one TL showing on DB. They only approved me for $3k which isn't impressive but I was happy to be back in their cc ecosystem so I could earn their trust back.