Update 4/23/20: We’ve seen a lot more datapoints on this lately. Chase has also moved to requiring users to log in to apply for Chase Business cards. Another common reason given for denial is ‘business structure’ when somebody with a sole prop applies. During reconsideration calls for customers that have been given the business structure denial reason Chase is claiming that this was a mistake and then giving another reason for the denial.
Based on anecdotal evidence it seems that Chase has tightened lending on small business credit card applications. Yesterday we posted about changes Chase had made to the business credit card application page, some of the old application pages still work but it doesn’t seem to matter what page is used and tightening of approvals is across the board. One of the common reasons for denial has been “insufficient balance in deposit and investment accounts with us”, so it might make sense to open a Chase business checking account and add a healthy amount of funds there to help push an approval through.
If you’ve applied for a Chase business credit card since 4/16 or 4/17 then please share if you were able to get approved or not in the comments below.
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Hi everyone, just recently applied for chase ink unlimited because i was pre-approved, now waiting for a response. Ive never had to wait for a cc acceptance before.. also have an excellent credit score and ein so Idk w the problem could be.
Approved for Ink Business Unlimited. Recent LLC, but business had been around over a decade.
Just experienced something similar to what others have mentioned. I was initially rejected (sole proprietorship) on the first day of application for the reason of "Business Structure." When I called the Lending branch the next day, the rep asked me the same questions that I had answered on the application and then said she would resubmit my application. Over the next ~24 hours I received about half a dozen automated emails stating that my application had been received and that I would get a notice of the result in the coming days (as someone else said, this probably happens every time someone opens the application), and then finally one more stating that my application had been approved. The whole process lasted about 48 hours from first application to approval.
Instantly auto approved for Ink Preferred ($6k limit). Legit sole prop business with tax ID, business open 15+ years. Recently opened business checking account and have $10k sitting in it, also have personal checking/savings and a mix of 6 total personal and business Chase credit cards.
Was denied for “business structure” as well. Called and spoke to a rep who asked a few questions then approved me for $5k. I pointed out that my business checking account was with Chase. My business is a sole proprietorship like many of the others initially declined despite my excellent credit rating.
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Denied yesterday. Called recon and they said declined due to "Business Structure". The woman I was speaking with could care less and didn't provide any additional details. I am sole prop with EIN.
Called again today and got approved (6k limit). I talked to someone who was much more willing to help. He just asked a few questions about my business and also moved some credit from one of my existing cards (CIP) to this new card (CIC).
Denied for Business Structure 04/30/2021 immediately. Sole Proprietorship and no separate tax id. Will call reconsideration as well.
Denied for Business Structure 04/12/2021. Sole Proprietorship. Will call reconsideration..
“We generally decline the applications with sole proprietorship. Do you want me to have a relook?”
The nice lady asked a couple of questions.. and APPROVED.
Got my Chase business card after being denied due to "business structure", had to go through four levels and they kept saying a denial letter would be sent, I told them I did not want a letter I wanted to know why I was denied - first time I have ever been denied for a card. He reviewed my application asked a few more questions and then approved my card. My business is sole proprietor with small annual sales, seems you just have to be persistent or get the right representative