Chase Ink

[n777ua]

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@Anonymous wrote:
n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus

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Neither would I.  Maybe I should've made myself more clear, I do have a legitimate business.  However, there are many,  many apps that are getting approved as "sole proprietorships" without what I would call a real business.

[myjourney]

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@Anonymous wrote:
n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus

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I wouldn't  risk it either but sure enough n77ua is correct up until about 4-6 months ago before Chase caught it a lot of people were doing it and using Amazon as the business because they sold through them.. Chase has started asking for TIN / EIN numbers now and verifying existence of a real business

[Open123]

If long term "travel" rewards are important, then I certainly don't think the risk is worth alienating Chase; however, for short term gain, I can see where some take the risk to reap the bonus of these 2 Ink cards, which equals to 100K + 5X at Office stores.

PS - Sole Propietorships using one's social are legitimate businesses. 

[myjourney]

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@kromix wrote:

For what its worth, none of the things mentioned here applied to me, but of course always YMMV.....


1) I have zero accounts with chase, only 1 ever and it was a Chase mortgage which I defaulted, short sold and Chase took a $160k loss, 6 years ago still on my reports.

2) Their Business ID procedure was basically non-existant, I don't have a business.

3) I have zero business established history

I was approved today for $3k. My lowest CL by $6k yet.

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Prime example .....be careful even tho you have been approved they are checking for legit business... even amex I was approved for amex business card last week today I got an alert from DNB they checked my business credit as well 

[Manny121]

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@n777ua wrote:

Maybe its different going through a banker, but my Ink was approved fairly easily with no business relationship with Chase.  Also, if you scan the interweb there is TONS of people getting this card for the sign up bonus that don't even have a real business.  Selling something on eBay ? Then you have a business.  However, when I apped I did have a TIN I used and an LLC setup which may have helped push the app through.

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Well I'm assuming every situation has it's exception and I can only speak from what I encounter on a day to day basis at work ....but I wouldn't be surprised if these situations are the reason why now they are being extra cautious with audits regarding busines accounts ..all of a sudden 2 months til now they have been scrutinizing business loan apps/credit cards and making sure business paperwork is in place ....cant say for sure.....

[Anonymous]

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@n777ua wrote:

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@Anonymous wrote:
n77ua, things may get ugly if chase ever does a review though. I wouldn't want to risk my chase accounts just for the sign-up bonus

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Neither would I.  Maybe I should've made myself more clear, I do have a legitimate business.  However, there are many,  many apps that are getting approved as "sole proprietorships" without what I would call a real business.

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Yea I heard about those app waves. A lot of blogs were covering about it too.

I was tempted to, but decided it might be too much work for what it's worth. I'm self employed, but I'm really just doing stock trades and property investments. Not a "typical" day job so I didn't want to push my luck.

[n777ua]

Also FWIW there has been anecdotal evidence that Amex has been FR'ing a ton of the new BRG accounts with the 50k bonus.  A lot of new accounts are charging up thousands in a few days buying gift cards.  Fasttracking themselves to FR-land and ending their Amex relationship for good.  I have the BRG and I'm trying to meet the $5k threshold, but I'm doing it legitimately.  My relationship with Amex is just too important.  In fact, I would consider Chase and Amex my "can't live without" banks.

[Anonymous]

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@n777ua wrote:

Also FWIW there has been anecdotal evidence that Amex has been FR'ing a ton of the new BRG accounts with the 50k bonus.  A lot of new accounts are charging up thousands in a few days buying gift cards.  Fasttracking themselves to FR-land and ending their Amex relationship for good.  I have the BRG and I'm trying to meet the $5k threshold, but I'm doing it legitimately.  My relationship with Amex is just too important.  In fact, I would consider Chase and Amex my "can't live without" banks.

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Same thing going on with Citi right now.

As for Chase, it was going on for a bit. Nowadays there doesn't seem to be any mass account closures, but it's still something they pay close attention to.  

[Open123]

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@n777ua wrote:

Also FWIW there has been anecdotal evidence that Amex has been FR'ing a ton of the new BRG accounts with the 50k bonus.  A lot of new accounts are charging up thousands in a few days buying gift cards.  Fasttracking themselves to FR-land and ending their Amex relationship for good.  I have the BRG and I'm trying to meet the $5k threshold, but I'm doing it legitimately.  My relationship with Amex is just too important.  In fact, I would consider Chase and Amex my "can't live without" banks.

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Right, for all the reasons you've listed, the BRG is the most often FR'ed card out of them all.  Chase will follow a similar path to account closure (with no FR) for their UR cards if they detect a level of "perk abuse" they can't tolerate.

For travel rewards, Chase and Amex are irreplaceable.  No other issuer has a travel reward program (in terms of travel rewards partners) even close to Chase and Amex's, in my view.

[n777ua]

Someone on another forum bought -40- $200 visa gc's from Office Max since you can get $10 off of $200 this week.  They have to be done in separate trans, so it took him almost an hour to check out and he got up to 36 before Chase fraud-alerted the card.  THESE are the people causing the account closures.  I bought a couple of the $200's today...but -40-...effing crazy.