cancel
Showing results for 
Search instead for 
Did you mean: 

Black (and then Green) Star offers for Chase Ink cards

tag
Curious_George2
Valued Contributor

Black (and then Green) Star offers for Chase Ink cards

I rarely venture over here to the Business Credit forum. I have a salaried job and don't own a business in the traditional sense, so business credit cards never seemed relevant to me. I have some profitable hobbies, but it's a stretch to call that a "business."

Recently, out of credit boredom and curiosity, I researched business credit cards. Something about my search history seems to have caught Chase's eye, because now I have black star offers for all three Ink cards. I find the notion of 5% cashback at office supply stores alluring, so I have toyed with the idea of taking the offer for the Ink Business Cash card. The offers say "You're prequalified" and they have firm APRs, so I thought they were pretty solid.

 

I was just left debating whether I could ethically call my activities a business, and whether to accept the HP(s), but then I discovered something surprising. There are a number of posts on various sites (DoC and others) where people in situations similar to mine have applied and been denied. So apparently these black star offers aren't as solid as I had assumed.

 

For me, that's a deal breaker. I'm not going to app. Is this already a well known aspect of life in Chase land?

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Black Star offers for Chase Ink cards

Chase genreally wants proof of the business such as documents to approve an account versus Amex just basing on being existing customer.

So it likely wouldn't work out for you if you do not have any origination forms to send them. 

 

Also if I recall the black stars are just a "pre-screened" offer same as any other email/mail offer to apply, where as green star means you're preapproved.

Message 2 of 7
FinStar
Moderator Emeritus

Re: Black Star offers for Chase Ink cards


@Anonymous wrote:

Chase genreally wants proof of the business such as documents to approve an account versus Amex just basing on being existing customer.

So it likely wouldn't work out for you if you do not have any origination forms to send them. 

 

Also if I recall the black stars are just a "pre-screened" offer same as any other email/mail offer to apply, where as green star means you're preapproved.


A couple points of clarification since there seems to be some misleading information here @Anonymous .

 

Black stars or green stars offers are both pre-approved/pre-qualified and can bypass 5/24.  The black star offers typically need to have a solid APR in order to be a reliable match or offer.  So, no, the black stars are not like any other email/mail offer.  Ask me how I know -- 2 biz cards later with the black star offers (both bypassing 5/24).

 

Secondly, the OP can apply if they have a legitimate business purpose or need as a sole proprietor. Chase doesn't always require documents, but an individual (or business entity) would fare best with some established business history or relationship to be considered. They'll need to be familiar with their state-specific sole proprietor registration requirements if they choose to apply via that route vs LLC, S-Corp or any other business structure.

Message 3 of 7
Anonymous
Not applicable

Re: Black Star offers for Chase Ink cards

Thanks for the clarification, I only recall some DP's where Chase had cracked down on that aspect and it was more difficult to be approved without DOCs. Or those with a lower income level for the Business. 

 

The stars info was based on all the comments I've heard saying that black stars aren't as solid as green, apologies for the incorrect wording or info. 

Message 4 of 7
Curious_George2
Valued Contributor

Re: Black Star offers for Chase Ink cards

... and now Chase has upgraded my offers to green stars.

 

I clicked into the Ink Business Cash offer/application to see the details. Firm 13.24% APR. The drop down boxes seem very accepting of sole proprietorships. But then I got to the fine print. It includes the following:

 

"I certify, understand and agree that: 1) This is a business account which shall be used only for business purposes and not personal, family or household purposes"

 

That's not consistent with how I would use it, so I will pass.

 

(Will try to edit thread title to reflect the stars' change of color.)

Message 5 of 7
SouthJamaica
Mega Contributor

Re: Black (and then Green) Star offers for Chase Ink cards


@Curious_George2 wrote:

I rarely venture over here to the Business Credit forum. I have a salaried job and don't own a business in the traditional sense, so business credit cards never seemed relevant to me. I have some profitable hobbies, but it's a stretch to call that a "business."

Recently, out of credit boredom and curiosity, I researched business credit cards. Something about my search history seems to have caught Chase's eye, because now I have black star offers for all three Ink cards. I find the notion of 5% cashback at office supply stores alluring, so I have toyed with the idea of taking the offer for the Ink Business Cash card. The offers say "You're prequalified" and they have firm APRs, so I thought they were pretty solid.

 

I was just left debating whether I could ethically call my activities a business, and whether to accept the HP(s), but then I discovered something surprising. There are a number of posts on various sites (DoC and others) where people in situations similar to mine have applied and been denied. So apparently these black star offers aren't as solid as I had assumed.

 

For me, that's a deal breaker. I'm not going to app. Is this already a well known aspect of life in Chase land?


Their black and green star offers are reliable as a general rule, but for some reason they appear in the accounts of people who have no business at all, and I think in those instances I would not rely on them.  Based on the way business credit card applications are set up on Chase, I feel pretty certain that your application would be denied.

 

A "profitable hobby" can be a business.  In fact the best businesses probably are "profitable hobbies". And there is no requirement of a minimum revenue requirement for your business. So if you can somehow quantify it as a very small business, you may well pass muster.  But don't be surprised for them to be asking for tax returns and the like.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 6 of 7
SouthJamaica
Mega Contributor

Re: Black Star offers for Chase Ink cards


@Curious_George2 wrote:

... and now Chase has upgraded my offers to green stars.

 

I clicked into the Ink Business Cash offer/application to see the details. Firm 13.24% APR. The drop down boxes seem very accepting of sole proprietorships. But then I got to the fine print. It includes the following:

 

"I certify, understand and agree that: 1) This is a business account which shall be used only for business purposes and not personal, family or household purposes"

 

That's not consistent with how I would use it, so I will pass.

 

(Will try to edit thread title to reflect the stars' change of color.)


Yes if you weren't planning to limit it to your "profitable hobbies" then definitely it's not for you.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.