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Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

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Established Member

Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

Been in business 18 months, been rebuilding personal credit for last year. Went from 515 to 609 as of earlier today. Got a secured personal discover card with $1k 4 months ago. Decided to try experien boost today and boosted me to 627. Applied for Amex Gold Business. Application asked to connect to my business accounts and to my surprise I was approved! Wowza!

Tonight, feeling froggy I decided to apply for chase ink business preferred as I bank with Chase both personally and business. Got the “we will notify you as soon as possible message”. Called approval number and got the “30 day notice”. Good sign? Is it really possible I could get approved with only a 627 credit score?
Message 1 of 14
13 REPLIES 13
Frequent Contributor

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

Congratulations on your business and Amex. Good luck on Chase and welcome to the forum!

CARDS: Discover It | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | NFCU CashRewards | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 2 of 14
Established Contributor

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

That is excellent,  Thanks for sharing DP's.  Keep us up to date on the Ink app.  

 

We are in about the same boat with perhaps a bit longer business file.  DW just got a personal Gold with a 629 EX FICO a month and a half ago and that was really meant as a stepping stone to a business card there.  New bank relationship with Chase as well.

 

So was that linking of biz account part of the app process?  

 

Again, congrats!


Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
11-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG
Message 3 of 14
Valued Contributor

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?


@ThatRealtorGuy

Hey, hey, hey....congrats on getting your foot in the door.  I got shot down a couple of times by Amex; finally in too.  It's a great feeling getting a solid card for your business.  Are you monitoring your Biz scores?

INCOGNITO MODE
Scores Exp 716, Eq 746, Tu 738
Personal Credit (180k)
Business Credit (80k)
"MY TAKE HOME PAY DON'T TAKE ME HOME"
Message 4 of 14
Established Member

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

No I’m not. My understanding is it’s rather pricey to monitor business scores.
Message 5 of 14
Valued Contributor

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

Give it a little while (maybe a month?) and then sign up for the Free one week Credit Builder with D&B as I think (think) that's the only one Amex reports to, other than the small business blah, blah...cannot remember. SBFS????idk

Anyway, after that you can keep a free D&B that will give you some info., not broken down but useful nonetheless.

NAV has some free stuff too.  Paid subscription gives you it all; although they have the wrong id# for EQ biz for us and no tl's reporting anywhere so...... could just be my luck, usually is.  Try though; it's free or you can pay.

Equifax Business is only $19.99/month.  You can do it periodically, all that has reported to mine is Citibank.  So it's blah.

Experian is $179/year; not too shabby.  I like that one but Amex doesn't or hasn't reported yet but the HP did..so keeping my fingers crossed my fairly new Amex will report eventually- not holding my breath on that one though.

INCOGNITO MODE
Scores Exp 716, Eq 746, Tu 738
Personal Credit (180k)
Business Credit (80k)
"MY TAKE HOME PAY DON'T TAKE ME HOME"
Message 6 of 14
Established Member

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

Do all ink business preferred apps get the 30 day notice or do a lot get instant denied? Just wondering if I realistically have a shot?
Message 7 of 14
Established Member

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

So I paid for the experian business credit report.  This is likely why I was approved.  I didn't even know I had a business credit report but it looks like my company cell phone has been updating.  I'm an 82% "Low Risk" per Experian.  Which is cool.  Not sure if that's good but seems good to me?

Message 8 of 14
Established Contributor

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?


@ThatRealtorGuy wrote:

So I paid for the experian business credit report.  This is likely why I was approved.  I didn't even know I had a business credit report but it looks like my company cell phone has been updating.  I'm an 82% "Low Risk" per Experian.  Which is cool.  Not sure if that's good but seems good to me?


I have paid for that for 4 years now.  It is far superior to EQ which has a garbage business reporting operation going IMO with spit files, bogus info etc..  So your EX score is 82?  That is very good.  We range between 70 and 92 and can not figure out why.  Smiley Happy


Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
11-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG
Message 9 of 14
Established Member

Re: Unreal! Approved Amex Gold Business with 627 credit score!? Now Chase Ink Preferred?

Yea and I have no idea how it is 82.  I've only been in business for 18 months and last year I was sole propieter and this year starting jan 1 went to S-Corp. Only 1 trade line and it's only been reporting since July, cell phone.

Message 10 of 14
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