Chase Business CC

Discussion in 'Other Credit Card Programs' started by Efilon87, Mar 19, 2012.  |  Print Topic

  1. Efilon87

    Efilon87 Silver Member

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    Currently I have 3 Chase cards (the card formerly known the continental card, old united card, and sapphire preferred) and now I am now looking at the Ink Bold. I am starting a small business of selling my photography, though I have yet to turn a profit. A few questions about the Chase business CC app:

    1) If I dont have a profit from my small business (sole proprietorship), will that cause a problem with my application being approved?
    2) Since I already have 3 CC with Chase, would my app be declined b/c of too many cards?
    3) What questions should I expect to be asked if/when they call about my app?

    Thanks!!
     
  2. wrxmom

    wrxmom Gold Member

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    1 & 2 will depend on whether Chase feels you're a credit risk. For example, do you have other ccs? Do you pay your balance in full each month? What is your utilization ratio?
     
  3. flydonkey

    flydonkey Silver Member

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    Long time lurker, first time poster with some input about the Chase business application.

    I got the United Explorer card last fall. Last week, I applied and was approved for both the Chase Sapphire Preferred and the Chase Ink Bold (for my LLC). After both applications, I got the "further processing needed", not an immediate decision. I did not wait for an official denial before calling to check the status. A brief call to the personal card line at 888-245-0625 resulted in approval. Here are the questions I got when I called the business line at 800-453-9719:

    - How long in business?
    - What is the nature of the business? He wanted quite a bit of detail, including how I planned to advertise the business.
    - Anticipated revenue?
    - Last year's personal income?
    - Anticipated monthly spending?

    I live in FL and Chase pulled Equifax for the personal app and Equifax AND Experian for the business app. Hm.
    Hope this data point is helpful to other milepointers!


    - Flydonkey
     
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  4. Million Mile Secrets

    Million Mile Secrets Silver Member

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    In my experience, Chase seems to like a long history EVEN if you don't make a profit versus a shorter business history. Be prepared to chat about the business, and I'd suggest volunteering information suggesting that the business is not your sole source of income so that the rep feels comfortable that you have a way of paying back the debt.

    Good luck!
     
  5. philatravelgirl

    philatravelgirl Silver Member

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    thanks! I applied for SP last week and also got the "further processing needed" reply, I have two chase cards and was surprised by this, will call tomorrow for approval
     
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  6. flydonkey

    flydonkey Silver Member

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    Good luck! Not sure if this is the norm, but my reconsideration call to Chase prompted the second hard pull on my credit report.
     
  7. philatravelgirl

    philatravelgirl Silver Member

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    Called and they moved credit line from CO card, they said had to keep at least $5k there. Now I wonder how people get so many multiple cards and what the credit limits are initially.
     
  8. Jeff the Wanderer

    Jeff the Wanderer Silver Member

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    I recently did a detailed write-up of my experience with getting approved for my Chase Ink card. I already had 4 Chase personal cards at the time and still managed to get the approval without having to cancel any. If you want to read all the details including all of the questions asked by the credit analyst (there were a lot of them), check out the full post at the following link:

    http://indulgethewanderlust.com/2012/02/07/february-churn-update/
     
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  9. DCA Rob

    DCA Rob Silver Member

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    I have 3 Chase cards including one open less than 90 days. I had gotten the pending message for the Sapphire when I applied on 3/22. I called today and was asked if I would be billing to move some of the available credit from the other cards to the new Sapphire. I said "sure" and within four minutes I was approved.
     
  10. TheTravelAbstract

    TheTravelAbstract Silver Member

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    Thanks for all the awesome data points! What a great first post and welcome to MP!

    I am considering the SP and Bold double app this wknd before the bonus offers drop and this helped prep me for that.

    I Will add my experience to this thread so we can get some type of wiki going on MP for how to handle chase biz apps. What do you think?
     
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  11. flydonkey

    flydonkey Silver Member

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    A wiki sounds great. My experience is limited, but I'm happy to contribute when I can.

    Question: would "non-business-like" spending - grocery, insurance, lawn care - on a business card raise any flags?
     
  12. wrxmom

    wrxmom Gold Member

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    Yep. Grocery for sure. Lawn care and insurance might be passable if your business property needs the services.
    IMHO, I'd rather just play by the rules and use the card only for actual business expenses.
     
  13. flydonkey

    flydonkey Silver Member

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    Thank you!
     
  14. philatravelgirl

    philatravelgirl Silver Member

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    I managed our corporate AMEX account and non-business expenses were reconciling items that I needed to investigate and report to managers and/or HR dept since everyone had to sign for card stating business use only. Not sure how your company operates but it's not worth being on the exception list in my opinion.
     

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