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Chase 5/24

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Contributor

Re: Chase 5/24

Ok thank you both for your help. His goal is to get the chase business ink cash card in the future.
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 11 of 15
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Valued Contributor

Re: Chase 5/24


@Liable0827 wrote:
Ok thank you both for your help. His goal is to get the chase business ink cash card in the future.

You're welcome! That's a great card.  I have it myself!  I applied for the INK Business Preferred, accepted and got a really nice 80K Ultimate Rewards points SUB (worth $800 or $1200 in UR points for travel), then later converted to the no-AF Business Cash since it had the no-AF and fit my spending needs better.  Smiley Happy



Updated 10/08/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (Aug 2020)
Total Open Credit Lines Over $538K. Utilization Less Than 1%.
Inquiries until Nov 2020 (TU:3 -- EQ:4 -- EX:9)
New Accounts: 3/6 months; 8/12 months; 12/24 months (as of 10/15/20)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 12 of 15
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Contributor

Re: Chase 5/24

When do you think it will be the best time for him to app for chase ink cash? 1 year with one chase card?
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 13 of 15
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Valued Contributor

Re: Chase 5/24


@Liable0827 wrote:
When do you think it will be the best time for him to app for chase ink cash? 1 year with one chase card?

Probably as a minimum. 

 

Does he actually have a business?  Underwriting is more strict on business cards.  They will want to know about the "business" and what his cash flow is expected to be, etc.  Business cards can be harder to get than personal cards and they also have fewer consumer protections.  They are best and most appropriately used for just truly business expenses, either those someone will be reimbursed for from an employer or for those expenses for self-employment that they need to separate from their personal finances.

 

Read my posting about business card differences at this My Fico Forum link:

https://ficoforums.myfico.com/t5/Credit-Cards/How-does-Chase-Offers-work-I-can-t-even-find-it/m-p/57...



Updated 10/08/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (Aug 2020)
Total Open Credit Lines Over $538K. Utilization Less Than 1%.
Inquiries until Nov 2020 (TU:3 -- EQ:4 -- EX:9)
New Accounts: 3/6 months; 8/12 months; 12/24 months (as of 10/15/20)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 14 of 15
Highlighted
Contributor

Re: Chase 5/24

Yes he has a llc with a ein. He does ebay selling
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 15 of 15
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