Chase Ink ?

[Andy77]

If chase will not approve me for a personal card, do you think the same would be true when I apply for a card on behalf of my business ?

[Anonymous]

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@Andy77 wrote:

If chase will not approve me for a personal card, do you think the same would be true when I apply for a card on behalf of my business ?

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What is the reason for denial on the personal card?  The reason I asked is not because I want to be nosy but they use persoanl credit for the business as well.

[CreditUnionFan]

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@Andy77 wrote:

If chase will not approve me for a personal card, do you think the same would be true when I apply for a card on behalf of my business ?

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Many business credit cards require a Personal Guarantee (PG), which means that your personal credit is reviewed.

Chase HP'd me on multiple bureaus. I received the credit in the name of the business, but it was based on my personal credit backing FEINs that had no credit history of their own.

[Andy77]

Thank you.  Yes I know that many will require a PG, but what if my EQ business report is cleaner then my personal ?  Do they even pull business reports and go off both or do they JUST use personal ?

[Anonymous]

When it comes to a creditor like Chase, i personally wouldn't app their business card unless my personal cr was pretty bulletproof. My opinion is they weight more on your personal report for small business cards. They may look at the whole picture, but the PG is a major factor for cards like this.

This is my personal opinion, which my conflict with others. But for small business cards like Chase Ink my guess would be they verify the business health at some level, but weight heavily on the personal side for the PG. I wouldn't app a business card of theirs if i was recently denied a personal card unless i had a real strong arguement for such during recon.

[Anonymous]

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@Anonymous wrote:

When it comes to a creditor like Chase, i personally wouldn't app their business card unless my personal cr was pretty bulletproof. My opinion is they weight more on your personal report for small business cards. They may look at the whole picture, but the PG is a major factor for cards like this.

This is my personal opinion, which my conflict with others. But for small business cards like Chase Ink my guess would be they verify the business health at some level, but weight heavily on the personal side for the PG. I wouldn't app a business card of theirs if i was recently denied a personal card unless i had a real strong arguement for such during recon.

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Excellent post.  Agreed.  Also, never call chase and suggest they use a different CRA.  Because they will be suspicious and pull all three. Happen to someone I know.  It is best to clean the report before apping.

[iDShaDoW]

Sorry to thread hijack but didn't want to necro another one either...

1.  Applied with business EIN and personal SSN - 30 day wait message

2.  Automated line - app under review

3.  Received letter asking for document verification of personal info

4.  Fax'd information to them on Saturday

Should I just wait to hear back (whether they call me or mail me another letter) or should I call their recon line and ask if they received the requested documentation?

Was hoping someone could tell me what kind of turnaround time they encountered after faxing over requested info.  I've read their questioning for business credit is quite invasive so would prefer to avoid getting grilled if I could.  My personal credit should be excellent (scores around 800, low utilization, no prior credit cards with Chase, 1 inquiry on my report - think it was with Walmart to get the free FICO from maybe 6 months or more ago).

[mongstradamus]

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@iDShaDoW wrote:

Sorry to thread hijack but didn't want to necro another one either...

1.  Applied with business EIN and personal SSN - 30 day wait message

2.  Automated line - app under review

3.  Received letter asking for document verification of personal info

4.  Fax'd information to them on Saturday

Should I just wait to hear back (whether they call me or mail me another letter) or should I call their recon line and ask if they received the requested documentation?

Was hoping someone could tell me what kind of turnaround time they encountered after faxing over requested info.  I've read their questioning for business credit is quite invasive so would prefer to avoid getting grilled if I could.  My personal credit should be excellent (scores around 800, low utilization, no prior credit cards with Chase, 1 inquiry on my report - think it was with Walmart to get the free FICO from maybe 6 months or more ago).

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Maybe its the no prior history i have scores around the same as your but many more HP, but I was aprroved back in october no problem. 

[Anonymous]

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@iDShaDoW wrote:

Sorry to thread hijack but didn't want to necro another one either...

1.  Applied with business EIN and personal SSN - 30 day wait message

2.  Automated line - app under review

3.  Received letter asking for document verification of personal info

4.  Fax'd information to them on Saturday

Should I just wait to hear back (whether they call me or mail me another letter) or should I call their recon line and ask if they received the requested documentation?

Was hoping someone could tell me what kind of turnaround time they encountered after faxing over requested info.  I've read their questioning for business credit is quite invasive so would prefer to avoid getting grilled if I could.  My personal credit should be excellent (scores around 800, low utilization, no prior credit cards with Chase, 1 inquiry on my report - think it was with Walmart to get the free FICO from maybe 6 months or more ago).

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Call them and ask them you faxed the information in and wanted to see if there is something else needed to make the decision ( The intent of the call actually is to poke and know whether a decision has been made).  Call them and don't wait.

[iDShaDoW]

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@mongstradamus wrote:

Maybe its the no prior history i have scores around the same as your but many more HP, but I was aprroved back in october no problem. 

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Was it an instant approval or you called/waited and got an approval?  I've read that they for the most part don't give instant approvals on their business cards anymore.

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@yesi-ts-me wrote:

Call them and ask them you faxed the information in and wanted to see if there is something else needed to make the decision ( The intent of the call actually is to poke and know whether a decision has been made).  Call them and don't wait.

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Yeah, I'm gonna check with the automated line and then give them a call when I work up the nerve to lol.  I've just read that they ask tons of questions about your business and wanna be ready for it when I do decide to call in.