Chase recently updated the application page on business cards to require a minimum income and business established date. Then we saw strong but anecdotal evidence that Chase had tightened business credit card lending/approvals. Chase is now requiring users to log into their account before they can apply for most Chase business cards, the only exclusion I saw was the UnitedSM Business Card. One of the reasons given for recent denials was ‘insufficient balance in deposit and investment accounts with us’ so requiring users to sign in makes sense.
Hat tip to helpmebuildcredit for the tip
I know this is an old thread, but this no longer is the case. I applied for Ink Preferred without logging in and was instantly auto-approved.
Currently have a Ink Cash and Chase business checking account. Also have a linked personal account with at least $1000 in it an any time. Applied today (4/22) with $1500 in the business checking account, established for over 2 years, >$10,000 revenue, and was auto-declined.
Under 5/24, never been auto-declined before. Are they putting a freeze on all new business accounts regardless of existing relationships?
lol, 10 days ago on the phone asked a chase rep to close biz chkg but just logged in to find out that it wasn’t done then; after now confirming that it’s still open, now will xfer $ in then apply for a CIP & see how it goes.
do folks know there’s still an offer for 80k pts bonus via a referral link?
It’s still available via referral link. However, I haven’t seen an approval DP since they’ve clamped down on it.
You can’t generate a referral link from CIP anymore (not since some weeks ago). Existing referral links still work. Check Rankt.
Have you seen a lot of DPs of denials?
Just got my first denial ever on CIP app today…guess I should’ve checked Reddit before applying.
There has been a lot. I haven’t seen any DP of approvals since 4/17
Glad to know I’m not the only one. Thanks for taking the time to respond!
chase wants qualified applicant(s) to use the new appl that requires 15k spend…
Tried today (4/22) with a CIP referral link and got instant denial. First instant denial I’ve ever gotten. I have a Chase business checking account, Chase Ink Cash, and a Chase personal checking account. I think they’re denying everything at this time.
Guess Chase is tired of giving out free money
And the noose tightens…
I presume that you can only log into your business Chase account if you have business checking, savings, or credit card accounts with them already. For someone without an existing relationship with Chase, this makes for a catch-22 situation, since if you’re not an existing customer you can’t log in to apply.
It’s not a paradox, you can definitely open a business checking without already being a business customer (and there are some nice bonuses for that account in the $300-$500 range)
just got paid out 500 for parking $2500 for 3 months and doing 5 debit card transactions…
Business checking accounts have to be created in branch, correct? Do they ask lots of questions?
they didnt ask too many to me, but the rep 100% knew what i was doing. i had to remind him 3 times to apply the promo code for the offer. usually they apply it early on with no questions asked.
eh, they asked the usual questions. What type of business. Will you incorporate soon, do you expect growth, etc. Mostly its about them trying to upsell you other shit.
Not my first rodeo so I have all the right answers. Wrap it up in about 1/2 hour.
Banker tries to call me once every 2 weeks at least, I just blocked the number last week. haha.
URs are starting to look better as cash than as travel credit.
I’ll buy for 110% of cash value
How do I sell them to you?
Too late, already cut a check. If only they were transferable like this.
Agree, cashed mine out 3 weeks ago.
yea i cashed out most of my 80k CIP bonus last week. AF comes up in Jan, and i dont see myself traveling much, if at all, before then.
They don’t care about United because United also doesn’t care about their costumers. Just saying something that makes no sense but sounds good…
More likely to do with the contract Chase & United have
Damn, this stinks.
This changes the flow of applications quite a bit for us “business” folk.
Seriously. Now the SW Business too? Hinders endeavors for legitimate businesses and for SW companion passes.
Yeah, but Chase is bracing for a ton of defaults on existing credit lines, is tightening lending as a result. I get it.
I have a referral link 80k cip from a friend that still isn’t requiring this. Worth applying through or is it likely a dud In actuality, based on these new rules
Not a dud. Chase closed all my cards saying that I didn’t have any investment accounts with them. All I had done was churn the checking and savings bonus twice 2 years ago.
can you elaborate….this seems like a stupid reason to close accounts
Got eyes on account, Chase recognized undesirable customer
One fine day all my cards were closed, never manufactured on Chase. Got escalated and told I would get a response in mail. The letter in the mail simply said that they closed my accounts due to lack of investment accounts with them. Was told that I was free to apply for new cards but already hitting 5/24 so have to wait.
How recently was this? Assuming your credit score is in the 700s?
Wait so you’re saying Chase just decided one day to close all of your credit cards simply because you did not have a checking or savings with them. Ive never heard of this before. You’re definitely leaving something out.
Conveniently leaving something out…
Not leaving something out, but think what you may. I wish I knew more but that’s all there is to it. As I said the only thing is that I am at 5/24 and never churned on Chase. I do churn on Amex etc.
This almost makes me worrisome about the current savings account that I am churning for the first-time. Is there a min amount I can leave in the account to keep it open and yet no incur any fees