CHASE INK BUSINESS CC 💳 EASY APPROVALS ✅💰
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- Опубликовано: 12 сен 2024
- In today’s video I talk about the Chase Ink Business credit cards.
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Definitely my two favorite banks: Chase for their credit cards and NFCU for day to day banking relationship.
Awesome stuff. I get offers from Chase to apply for the Business Preferred card. My DTI is high on the personal side, and currently working on lower it. I do have two of their cards on the personal side, and have been with them over ten years. I don't want to risk a hard inquiry just to get denied, but I do need a business card. I can wait a little longer while working on lowering my DTI before applying.
So if you apply for a business card with Chase through the invitation and you are under the 5/24 rule on the business side. You are qualified?
The 5/24 rule doesn’t apply on the business side because the business credit cards “usually” don’t report to your personal credit report. There are some business credit cards that report to personal like the Capital One Spark card for example.
Thank you for this video. I followed the steps and I got approved $9000 today for Chase Ink Business Cash. I also applied for Navy GoBiz card, but I was denied. sad
You’re better off with the Ink card instead of the Go Biz. The Ink card has way better rewards and you can have multiple Ink cards. I have 3. I have the Cash, Unlimited, and the Preferred. The Go Biz card is garbage. Their personal cards are way better to me.
Oh yes! i'm just hurt that my credit was pulled & still got denied. even with having a personal checking/savings & business acct. with them NavyFed. :( @@starrcarterfinance can you please advise when is the best time to apply for another business credit card? I'm looking at launching my fashion business soon. Thanks for your help so far :)
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Can you get all three at one time or what
Great content. My husband has a personal checking account with Chase and a LLC but no Chase business checking. Can he still apply for the Chase Ink as LLC?
Yes! My client didnt have a business checking account either when she applied with the 1 month old LLC, and was approved with the personal relationship.
@@starrcarterfinance Is a 2 year old personal Chase bank account considered a relationship?
@@nadinejordan3297 yes mam.
Thanks for the info! 🙏🏽🙏🏽🙏🏽
You're very welcome ☺️
if you stack on Transunion & Equifax BCC hard / soft pullers …does Chase see those and count against their 5/24 ????
Business Card doesn't count in the 5/24 rules... but u must be under the 5/24 if u applying with ur SSN (as solopreneur)... with TIN (LLC) no 5/24...
In your opinion which bank do you think is better for startup business out of Wells Fargo, JP Morgan Chase, Citi and Amex?
Hi! To be honest, I’m not a fan of the big banks at all. I prefer local credit unions, and local community bank relationships because it helps the area that you service and they can be more generous especially if you already have a personal account with them. But with that said, if you had to bank with any of them, Chase is better to me starting out. If you already have a bank account where you live, and if they offer business accounts, I would start there. 😊
@@starrcarterfinance yeah I gathered that about you. I don't have a credit union account and don't want the inquiry it's gonna take to get one right now because I'm gonna get one to pg my startup business. I have accounts with each bank I listed. Checking, savings, business and credit with Wells Fargo. Credit, savings and checking with Amex. Savings and credit with Citi. Checking with Chase and considering a savings with them today. Chase offered business ink unlimited. I was going with Wells Fargo because of a lot of videos but decided I don't like them. A CD matured yesterday. Gonna cash out and trying to decide which one to move it to so thanks for that.
Are all 3 of your cards under sole prop? Also for your client did she put llc on the application?
Both my client and myself applied using our LLC but this card does allow for Sole Prop to apply because it asks for the SSN and Ein (if applicable). Your personal credit score and profile will be the determining factor for approval.
798 score no lates and no hard inquires. however i do not have a account with them should I establish an account first?
When I applied with them, I only had my Amazon Prime Credit Card with them that I had for a number of years but that was my only relationship. I’m not a fan of getting checking accounts at multiple banks just for credit. If getting the account with them makes sense for your business then you might want to look into their business banking services. Otherwise, I wouldn’t open an account with them.
@@starrcarterfinance I already have a business bank account what the bank here in Delaware. I just wanted to double-check to see if I would be approved with the highest credit limit as I do not have any other Chase products. Also I was interested because JPMorgan Chase headquarters is right across the street from where I live in Wilmington Delaware haha
did you use your personal credit score ? what was your scores. I used projected income or stated income 100k
Yes, it does pull from your personal credit. My score was 773 at the time applied but they will go for 680 as long as you don’t have a high usage over 30% of your current credit cards that is reporting to your credit profile, no late payments, collections etc.
Can you please share what you put down for monthly business expense to get your $16,000 credit limit? I know there are other factors. I'm just trying to be careful and walk that fine line to not list a low monthly business expense and get a low limit and not list something too high where i get denied because of debt to income ratio. Know what i mean? Like if i put $805 monthly business expense do you think they'll give me a low limit like the person who got approved for only $3000? That's why I'm asking what you listed. I hope that makes sense
My income is $75,000 and credit score over 750. Credit card utilization is below 10% on all my personal credit cards.
@@starrcarterfinance Thank you but I meant what did you put in the box for what you spend every month on the business or what's expected to spend monthly on the card for the business, at marker 10:20 in the video. See what I'm saying? I'm trying to be careful not to put too much or too little. I mean I'm not gonna tell a big lie but I do wanna be close to that sweet spot. Makes sense?
Hi Starr, I currently have a Chase bank account but no Chase credit cards. I received notification that I’m already approved for 3 of their personal cards. I plan on applying for a business card ( new business). Should I apply for a personal card or business card first? Please help😊
Hi! I would say pick one of the three pre-approval cards that will fit your financial needs as far as rewards are concerned. Use the card for about 3 bill cycles and always pay the card off in full each month. Then apply for the biz credit card. Depending on income and other debts they may start you off with a low limit but using it and paying it back off each month will increase the limit. Come back to this video to use my referral link when you apply for the biz card. I hope this helps and best of luck ♥️✨
@@starrcarterfinance I sure will. Thank you!
My credit score just went down under 680, I don’t have an account with them but I’ve had my auto loan with them going 3 years and I’m already approved for 3/4 credit cards. Should I still apply? Or just work on increasing my credit first ??
I would wait to improve your odds of getting approved on the business side
What would you say if the person doesn't yet have Chase products--in what way would this apply / not apply ?
Hi! It just depends on how good of a credit profile the applicant has if there is no banking relationship. If the credit score is below 680, then they will probably have to build a relationship first with Chase by having an account or try to get a personal credit card like the Freedom Flex or unlimited. But if the credit score is strong like above 720, with a strong credit profile then they probably could just apply for it without the relationship first.
Thanks Starr-- and if it's above/around that, would that be enough for approval? Any other nuances?@@starrcarterfinance
As long as the credit profile is strong with no collections, no maxed out credit cards, no late payments, I would think that would be enough for the approval.
Hi Starr ! Are Multiple, Same-Day Credit Card Applications OK?
Its no problem do that, but it could result in two hard pulls. Chase hard pulls for everything.
@@starrcarterfinance Thank you very much xoxo
If you apply as a Sole Prop, can you change the card to your LLC when you get 1.
Probably so but it wont make a difference as they use your personal credit to make the approval, but it still wont report to your personal credit report either way.
@@starrcarterfinance but it would report to business credit if it can be transferred to my EIN, correct?
So u don't think I should apply for business card even if have good credit new LLC and a checking business account my problem is a missed payment thank u
A missed payment can be a red flag for lenders just fyi.
Hello, I was recently approved for the Chase ink cash, although I'm not able to view it anywhere on my account Would you happen to know what to do so I'll be able to have access or do I have to wait for the car to arrive in the mail?
Thank you for your help and time:)
You will get access once it comes in the mail ☺️
@@starrcarterfinance great 😃 thank you!
Were you under the 5/24 rule?
On the business side, where this card reports, the 5/24 rule don’t apply. Only for personal credit cards. ☺️
Thank you for responding.So if I am under the 5/24 rule on the business side that's what matters? Because on the personal side I'm over the 5/24 rule.
Good morning, i do have a new LLC ,my credit is 700 but i have missed payments ,would i be still apply for a business card with chase ,thank you
Missed payments can be a red flag for personal finance issues and could result in a denial.
So u don’t need a paydex score to apply ? I already have a LLC over 6 months old and current revenue but I have bad credit ? What should I do
No Paydex Score needed, but will need at least a 680 FICO score
You saying getting approved is “easy” is subjective. It depends on a lot of things. Otherwise I enjoyed the video
Getting approved for business funding with Chase even without an LLC with stated income is very easy compared to other business lenders. Many want an llc or other legal business structure, 2 years of biz tax returns, ein, making at least $100,000 annually minimum, and personal excellent credit.
So is it based off your personal credit to get approved?
Yes
I got approved for 3k had 11k in the account what do I need to do to increase it? Business credit card
How long has it been since you got approved? If it’s been less than 90 days, I would wait to do the request. The best practices for automatic increases is to use the card and pay it back off consistently every month. It will only report to your business credit profile if you go over 30%, but always pay it back off to avoid paying interest. They have high interest rates over 20%.
@@starrcarterfinance It’s been about a week. I thought you have to request business credit. Don’t know how chase operates on the business side of things.
Do they report to your personal credit applying as a sole proprietor?
Your personal credit will get the hard inquiry but it doesnt report the card usage on the personal side
@starrknowscredit I just got 2 Amex business cards with no hard pull but I also have 4 personal cards with them as well. I applied with my 11 year old LLC but I'm thinking about doing it as a sole prop with Chase. What's your thoughts? My FICO is 810, 830 and 834
Can I remove inquiries from my personal credit report ,because I only have applied for business cc ...meaning when I dispute those inquiries, would they close those business cards ???
Beware If you say that you didn’t make the inquiries (which is the only way to remove them is to dispute them as identity fraud) the credit bureau will be contacting the lender to verify and they could be closed by the lender if you pursue the dispute claiming identity fraud.
@@starrcarterfinance I learned that by locking sagestream and other bigbro reporting companies, they can't verify them . I don't believe they actually contact the lender. But idk for sure. Thanks a bunch for responding
How long of a relationship must i have with chase before i pull the trigger for an ink?
My relationship with Chase before I got my first INK card was I had the Amazon Prime Chase Credit Card for several years and that was it. I don’t have a checking or savings with them at all. Your credit score should be 700 or better, low credit card utilization (under 30% and better) on all other accounts, no late payments, no collections. If you don’t have those things in place, work on those first, and if you wish to open account with them thats cool too but the credit profile is key.
How much is your credit limit on the Chase ink business cash?
$8,000
@@starrcarterfinance Thanks!
@@starrcarterfinancedang that's low. I thought business credit is much higher than personal. That seems like a personal credit limit
? What does it mean you already approved with chase ink
Dont understand what your asking? Where did you see that?
@@starrcarterfinance Mine says that as well. On the app it gives me three choices of business cards and it says I’m already approved in green. Does that mean I basically got approved? I’m debating if I should do it or not.
@@starrcarterfinance hello I also see it on my chase app. It says already approved in green for 3 business cards. Does that mean the basically approved me and all I have to do is apply? I’m debating if I should apply or not.
@@daniellethomas1185 Based on what you’re saying, it sounds like a preapproval.
@@starrcarterfinancethank you:-)
Hey they attempted my transunion but it’s frozen
Wow! They were pulling Equifax Last year when I got my first two Ink Cards. When I applied for my Cash Card in June of this year it was Experian, and now Transunion. They are either switching the game or pulling different based on the region.
@@starrcarterfinance probably I did it last night there still sending me emails “ your transunion is frozen “ lol welp I won’t be unfreezing I’ll just wait 6 mths to reapply
@@starrcarterfinancethey provide my credit score on the mobile app. It's experian thru vantage so I assumed that's where they'll be pulling
Just applied today they pulled Transunion
Where you from? We related 😂
I’m from Baltimore but been living in South Carolina since 1990
You left out the infamous Chase 5/24 rule.
Doesn’t apply to the business credit cards because they don’t report to the personal side of credit 😉
@@starrcarterfinance It actually does. I can promise you that (for me at least). I have an LLC and my EIN number. I recently applied and got denied for Ink signature card after receiving an offer via email. I called the reconsideration line twice and both times the reps confirmed that it was because to their 5/24 rule.
As per the letter detailing the reason for my denial
1. Too many accounts opened within the last 24 months.
2. Business structure
3. Not enough deposits - (I am paraphrasing of course)
One of the representative even said to me when I asked - if it had not been for the too many cards within the 24 months would I have been able to get approved? And he said yes - he's said they would have find a way to work around the other issues! Business structure. Not enough deposits, etc.
What consumer reporting agency does chase ink go through?
Its on the screen in the video