Understanding how Chase works with Credit Cards

[Anonymous]

My Goal - update my credit cards -- 31 history with AMEX - Platinum and Gold -- 10 years with BOA. Used Platinum as my Business Credit Card to keep business and personal seperate.

Applied and Appoved instantly for Chase Sapphire Preferred 25k CL  - waited a couple of weeks and applied for INk Plus  - Ihave 18yr Busiess -- Revenue in 250k expenses are 12k yr Reimbursable for travel etc run 15%

Applied online for Chase INk Plus - said it was pending.

So following others advice on myfico -- I called reconsideration line -- got a rep -- without asking any questions he said took 15 seconds looked up the Applicatoin and said - not approved due to recent new card from Chase. So I explained my goal of upgrading my cards based on my financial advisor to get more value -- (which is JPMorgan) -- and that I thought  Business and Personal were seperate considerations -- so he said well let me see what I can do for you. 

He then did a normal interview going back 4 years for revenue expenses profit -- -- then he says wel with your income I don't see why you need a credit card. So that surprised me I said I was trying to move away from American Express after 30 yrs -- to work with a company that offers more value and service and a better fee structure, second I have to have a way to seperate out Business and Personal Expenses and third -- my reimburseable travel and lodging for clients mgiht sometimse be on a net 60 -- so rather than dip into my personal finances to pay in full with Amex I was looking for a business card -- He didnt seem to get that depending on the client I could be at net 30.45 or 60 depending on the contract. I also explained some contracts pay monthly orthers every in equal installments.

He goes away for a minute and says no -- he checked my business credit history and I don't have any or enough  business credit history- at this point I just gave up....

Advice ??? or any INsgihts -- thanks

[Anonymous]

Call back and speak to another business rep, or directly ask for a supervisor. I went through exactly the same thing with my 

Ink Plus application. I had to call twice before I was able to get an analyst that understood what Net 30, 60 , and 90 meant to a business owner. Once I did...she approved me immediately. Do not take no for an answer expecially if you have a solid credit file and scores. Good Luck.

[Creditaddict]

I have really disliked dealing with Chase Business credit so far... that is STUPID on epic level to me being told that a card I'm PG'ing (I don't have enough business credit!)

[Anonymous]

I've dealt with all the major banks for personal and business credit cards. I have spoken to CSRs and analysts on both sides that have power complexes about wether a person should have credit or not. I personally knew an analyst who was making decisions on people getting cards, and he had a Fico of 520, and never paid cards. He used to brag about denying folks with great files and overall credit. Of course the Karma train came around and ran him over when his employer discovered his credit habits. Now he sells used cars.

[Cali_Credit]

Call again! Chase is a pain in the ass but once your in then approvals are great! Took me 15 calls and a visit to a local branch and I was approved for 18.5k! 3 years in business with a 30k revenue but my full time job probably helped with the limit.

[Anonymous]

@Bernerdad,

When it comes to Chase and the business cards, if the recon over the phone is not working your best bet is to go in and speak directly to a business banker even if you don't currently bank with Chase.  They are able to recon /talk on your behalf while sitting in front of them.

I think Chase intentionally puts the very hardcore analysts in the business section as they grill you when you call.  If it is MUST have card for you, then find time and go into a branch.

[Purdue-BearsFan]

I think you just need to call again. From the looks of it you have a well-established business. Only unfortunate part is that you got that analyst first since I believe they make notes on your application, which seem to influence the next analyst who may view it.   I used to work a major financial institution as a financial engineer straight out of college in the risk mitigation/risk assessment department. I had to interact with credit analysts all the time and I know most are not very business savvy or even that sharp. Their collegiate majors vary wildly from Finance to Communications. Most of these positions don’t require a business degree (even the ones with business degrees knew really nothing about business; only semi-tangible skill I think business majors have is they have a mild understanding on how to use MS Excel). A credit analyst position is a “learn as you go” position. Unfortunately the really sharp graduates will pass on credit analyst positions for more lucrative positions therefore typically credit analysts are “B students” from a 2nd tier institution (ex. Indiana University, ha!). In short you probably know more about business than the analyst you are speaking with. I would try not to confuse them with too much information from your part since information overload tends to cause humans indecisiveness. Just answer their questions directly without any additional “fluff”. I would also say you are not happy with AMEX and enjoy the service you have gotten from Chase instead of explaining with net 30,45,60…. State: “I’m not looking for more credit, but a new financial vehicle which will meet my business needs”. Good luck!