In April Chase tighten business credit card applications and were seemingly denying more applicants than they normally would have. Chase also removed affiliate commissions on business cards in March and made it so that you needed to be logged in to apply for a business card. Last week Chase enabled business credit card affiliate links and removed the login restrictions.
In the last few days we’ve seen a lot of succesful datapoints of people applying for and being approved for new business cards. It looks like Chase has now loosened those lending requirements and it’s easier to get approved than it was before. Obviously this doesn’t mean you’re guaranteed approval and it’s only anecdotal evidence for now but given the login and affiliate link changes it seems to make sense.
Datapoints:
- CIP:
- Chase Ink Business Unlimited:
- Approved as sole prop, two years old $6,000 in revenue has business checking
- Approved as sole prop, four years old and $10,000 in revenue (sent via e-mail on 9/20)
- Approved, unsure if sole proper (sent via e-mail on 9/20)
- Approved, sole prop sub one year old with $6,000 in revenue
- Approved, sole prop, 10 years in business with $50,000 in revenue
- Chase Ink Cash:
I was asked for “Proof of federal tax id for business”. Why would they do this for a sole prop app? What can I even do?
DP: simply submitted SS card for tax ID and got an approval. First chase biz since the pandemic started.
Instant denial for Chase Ink Cash today. Sole prop w/chase biz checking & 2 open biz cards 🙁
As far as being the DP you want to see;
Applied P2 for her first biz card (CIU), was just approved as a sp after spending 45min on the line mostly just waiting for them to look over the energy bill we submitted online. No questions about the business whatsoever.
P2 is 1/24, holds one chase card and has Chase pers checking, biz age 18m, rev 9k, credit limit 3k.
Applied for Chase Ink Cash on 10/15, got denied right that moment. Called reconsideration number, they reviewed my application again and yesterday got rejection letter. Applied as a sole prep with $45K revenue, 2 years age on business, and 727 experian score. May be it was due to my lower credit score. Planning to apply again after 6-8 months.
History-
1. Approved for chase freedom card on Aug, 2020
2. Approved for Chase Ink business unlimited on Nov 2019 which I closed later at the start of pandemic.
Any DP’s on the United Business Card, which is 75k bonus miles until 11/30/2020?
what is the phone number to check status? I tried 800-346-5538 and could not find any application. I applied on 9/24.
Per FM: Call (888) 338-2586 to check your application status
If denied, call reconsideration here:1-888-270-2127 for both personal and business cards
Maybe a coincidence, but I had applied for SW Personal card on 9/21 (last day for 65k), but Chase had no record of my application. I know that I submitted it, since I got to the screen saying they needed more time to review it. Conspiracy theorists might draw some conclusions from this, or maybe Chase was having some technical issues around that time.
For the record I only had one inquiry on my credit report (from my SW Business card application on the same day). Chase Personal and Business inquiries don’t usually combine, so it does not appear that any inquiry happened in regards to my lost Personal application.
DP:
– 9/28/20 Applied for CIU as Sole prop, rev 10k, business age 2 years, 776 Experian score.
– 9/29/20 Approval email sent 9/29 with 3k credit limit
A bit of History:
– 9/19 applied CIP and approved
-10/19 opened Chase Business Checking
– 01/20 applied Southwest Business Premier and approved
I’m a big idiot sometimes.
– I tried applying for a CIP in 2019 using an Ebay account. Duh !! They sent me letter asking me to prove my business. No can do. Denied.
– Fen 2020. Southwest business/personal deal. I read about getting business card by using your name. Tried it and got approved for both the Southwest business and personal. I forgot what I used for business but I pretty much faked the entire thing(In my head I felt like I faked the whole business aspect).
– A DUH !! moment came to me last week when I realized I had a “legit” business this entire time. I have a rental for 6 yrs going and I have legit income statement and 1099 for such business..
– So last week I applied for the CIU stating $16k in revenue, 6 yrs long and Sole Proprietor. Got an email today “approved”. Card appeared in my business Chase online account with a $3K limit.
Super excited that I feel like I have a legit business and I can apply for many more business cards years to come.
– FYI. 822 score. Chase customer since 2008. Many many Chase personal cards through the years. Freedom, Preferred, Reserved, United, Marriott, Hyatt, Southwest.
Currently only have Southwest, Reserved, and just turned my Preferred into no-fee Sapphire. Business Southwest and now CIU.
What is no-fee Sapphire? Is it different/better than turning into Freedom Flex or Freedom Unlimited?
Yeah, its no longer valid for new customers but still exist. My plan is to cancel the Reserve and then reapply for the Preferred or Reserve again but I was told that the no-fee Sapphire is still a Sapphire so I need to cancel that too. Probably get a Freedom and move my Sapphire credit line over before canceling.
Applied for CIC on 09/21 as Sole proprietor with $1500 yearly revenue from the business with it being about 6 years old.
Credit scores are mid to high 700’s, I do have 3 personal cards with Chase with about 2 years of history.
Got an email saying I was approved on 09/28. Did not say what the credit line will be but I’m assuming 3k which I’m totally okay with given the business is just repairing electronics on the side.
can you remember what your monthly spend amount was? Thanks.
Denied as sole proprietor for CIC on 9/25
Called recon 9/28 and was advised I was denied to limited length of time business has been established (1/2019).
Very bummed. Anyone have an idea how long of a business you need? When do you think I could apply again?