Chase Ink is def sensitive to recent new PLOC

Jwagner · ‎11-20-2017

personal credit cards to be specific.

Was debating on whether to purchase a piece of equipment for one of my shops (and put it on personal credit), figured maybe see about a business Ink card (already have a relationship with Chase). Got the standard 30 day review screen online, called the front line and asked if there's anything they'd like to ask/know while I'm still sitting here. "No sir, but we do show you app as declined". Said TY, and hung up.

Called the business Recon # and the sole reason for decline is "too many new accounts in the last 2 years". I recently in the last few months opened an NFCU Visa, a Amex Delta Gold and a Propel (even though I hate my WF Bank... still scratching my head why I did).

Fair enough I suppose. There wasn't any grilling about the business, income, SS4, (wouldn't have mattered... it's not like it's not legit - lol) or anything else, just "too many new personal accounts".

(Even though I have multiple locations, it's still a sole prop., hence needing my SSN).

Recon lady was really nice, laughed when she caught me off guard answering the phone, it never even got a chance to ring.

options are either just wait it out (if I still actually want / need) the card down the road and haven't app'd any new cards, or INC and remove my personal connection to the company - but that would start a whole new clock on business credit background, D&B rating, etc

Anonymous · ‎11-20-2017

Sorry to hear about the decline. Have you opened more than 5 revolving credit accounts in last 2 years? The Ink like most of the Chase cards is subject to 5/24 and almost always will result in an automatic decline.

Anonymous · ‎11-22-2017

If you already have a relationship with Chase, is it a business relationship?

If not, create one by setting up an appointment with a business relationship manager at a branch.

If you have a legit business with decent revenue, they want your business and will work to get it.

They've been working to get mine away from BoA

Anonymous · ‎11-24-2017

I recently applied for the Ink card as well and was denied becuase of 5/24. I'm technically 4/24 but the 5th card was a marriot that I applied for and was approved, but canceled immediatly. They still count it as a new card.. It was a real bummer. I just ran $16k through my Amex that they would have gotten. Tried telling Both Relationship manager and recon dept that, but still a hard decline.

Oh well.

Jwagner · ‎11-27-2017

actually I have. i'm right at the 5/24.

goes to 4/24 on Dec15 and then 3/24 May2-18

I have CSP - and it's great, the Ink can just wait until May or so

Jwagner · ‎11-27-2017

I have 2 (businesses), I've considered switching to Chase. The primary holdback to date has simply been the lack of available brick and morter locations where I live.

(I have WF - and like most people - I can't stand them)

Anonymous · ‎11-28-2017

@Jwagner wrote:
The primary holdback to date has simply been the lack of available brick and morter locations where I live.

(I have WF - and like most people - I can't stand them)

Similar situation here. Plenty of Chase branches where I live, but none where my business is headquartered.

I use BoA primarily for business and while they have been good to me, they haven't been great to me.

Anonymous · ‎08-05-2018

What can a Chase Business Relationship Manager do for me?

Also regarding the 5/24 rule. How do they count it? What about business cards? I noticed a lot of my biz cards don't report anywhere.