@irunfromcredit wrote:Mods, I know this question probably belongs in Business Credit, but wanted to post here for the high traffic on this board.
So the Chase Ink Cash card has piqued my interest. I do some consulting work on the side and this card really suits my needs. I have a home office and I do tons of driving for my regular job and my side gig. So I wanted to ask for anyone who has this card, would this fall under the 5/24 rule? I actually acquired 3 Chase cards in 2015 (personal credit), Freedom in April and United and Marriot in November (not sure if I have too many chase cards). I have been a banking customer with Chase for 6 years. Not sure if I should even consider applying because, I don't officially have a small business (No EIN) and the three cards I opened up in 2015. I was looking to apply sometime in March when the 5% category on gas ends on the Freedom card.
Thanks for any insight!!!
1. Yes it's subject to the 5/24 rule
2. No there's no such thing as having too many Chase cards, as far as Chase is concerned
@SouthJamaica wrote:
@irunfromcredit wrote:Mods, I know this question probably belongs in Business Credit, but wanted to post here for the high traffic on this board.
So the Chase Ink Cash card has piqued my interest. I do some consulting work on the side and this card really suits my needs. I have a home office and I do tons of driving for my regular job and my side gig. So I wanted to ask for anyone who has this card, would this fall under the 5/24 rule? I actually acquired 3 Chase cards in 2015 (personal credit), Freedom in April and United and Marriot in November (not sure if I have too many chase cards). I have been a banking customer with Chase for 6 years. Not sure if I should even consider applying because, I don't officially have a small business (No EIN) and the three cards I opened up in 2015. I was looking to apply sometime in March when the 5% category on gas ends on the Freedom card.
Thanks for any insight!!!
1. Yes it's subject to the 5/24 rule
2. No there's no such thing as having too many Chase cards, as far as Chase is concerned
The Chase Ink cards haven't officially become subject to the 5/24 rule, but that could happen sooner than the rumored March timeframe.
The Ink Cash has a lower sign-on bonus, but has no annual fee.
As for having too many Chase cards, I have nine Chase cards and when I talk to recon that's one of the reasons cited for denial.
I had ten Chase-backed cards until the BP card moved to Synchrony. Some people think issuers have 'slots' but by that theory I should be fine - I'm not.
If you think you want the Chase Ink cards, it might be a good time to apply. If you don't have a business checking account, now might be a good time to set one of those up too. 