Chase Ink Question

[Anonymous]

Hey everyone!

So, I want to get a business credit card for my wife's photography business (i'm her registered partner) for some up coming expansion costs. It makes the most sense to go with Chase for the UR points because I already have the Chase trifecta. I've had my Chase Amazon card for 2 years, my Freedom and UF since January and my CSP for 1 month. Would this be too soon? Applying for a business card this after opening 3 personal accounts in a 5 month period? I'm 4/24 unless the NFCU CLOC counts towards it, then I'm 5/24. I have checking with Chase so I can always check in branch. 

My current scores are EQ: 695 TU: 770 EX: 762 (or close to that).

EQ: 2 30 day lates and a 60 day late. (Over a year old, I believe.)

TU: Clean.

Ex: Clean.
AoOA: 5y6m

AAoA: 3y2m

I have a $400 balance on my CSP, but it will be PIF (as always). No other credit card debt.

No business credit thus far.

[Anonymous]

If the CLOC shows on your credit report that I believe it does count against the 5/24 rule.

The real issue is Chase pulls EQ.

I would stop by a branch and talk to a rep before you apply. Its really too hard to say if you are good to go. The INK might start with a low limit that you find is too low to cover the expansion costs (?)

[Anonymous]

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@Anonymous wrote:

If the CLOC shows on your credit report that I believe it does count against the 5/24 rule.

The real issue is Chase pulls EQ.

I would stop by a branch and talk to a rep before you apply. Its really too hard to say if you are good to go. The INK might start with a low limit that you find is too low to cover the expansion costs (?)

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Chase has always pulled TU, Ex or both for me (but those were personal not business). Is EQ always used for business?

That was an additional worry as well. If they did, would it be possible to move any credit from my personal cards to it? I really only need about 5k. I have the money for what we need (though the intro APR would definitely be useful). I would just rather have it separate from our personal purchases and like to earn UR points as well.

[Anonymous]

Hmm.. for me my last several Chase apps seem to have shown up on EQ and not on TU or EX. So lets scratch that as unknown for now. 

Yes, you can move credit, however I believe when moving from personal to business its a one-way trip and cannot be moved back.

I also believe the min SL you can start with on the INK is $3500. I actually called and said that line was useless two weeks after approval - had them pull my credit again and got the line up to $5000. But I am at my limit with what Chase is willing to extend to me. 

[Anonymous]

Thanks for the info! I will keep all of that in mind and see what they have to say at the branch on Saturday

[jaxstraw]

Since AMEX pulls EX and that is one of your better reeports have you tried their pre-qualification site ?

[Anonymous]

I have, and I am for both personal and business cards but I was hoping to keep it within the UR family just to continue to boost our rewards. That will be my next route if Chase doesn't offer me anything in branch

[Anonymous]

I'm in MN and applied for the ink recently. Chase pulled EX and EQ for me.

[bourgogne]

assuming in branch, opening business checking will sometimes give the banker a popup for cards.  have a copy of your ein, they sometimes need to upload at the branch for verification.

[ibebarrett]

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@Anonymous wrote:

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@Anonymous wrote:

If the CLOC shows on your credit report that I believe it does count against the 5/24 rule.

The real issue is Chase pulls EQ.

I would stop by a branch and talk to a rep before you apply. Its really too hard to say if you are good to go. The INK might start with a low limit that you find is too low to cover the expansion costs (?)

---

Chase has always pulled TU, Ex or both for me (but those were personal not business). Is EQ always used for business?

That was an additional worry as well. If they did, would it be possible to move any credit from my personal cards to it? I really only need about 5k. I have the money for what we need (though the intro APR would definitely be useful). I would just rather have it separate from our personal purchases and like to earn UR points as well.

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If you have the money to back it up open a chase total business checking, no fees if you keep a daily balance of 1500, throw the rest in savings,  then wait a month(maybe the wait will give you a better CL?). You also get a checking signup bonus, so it's worth it if you have that money already!