After a hiatus from credit card applications for some time, I now had the good fortune of getting easily approved for two business cards. I like signing up for credit cards with large spend requirements in December and January time since I tend to have more spend at those times of year due to tax and other obligations.
- Chase INK Preferred:
For various reasons I wasn’t able to apply during the elevated 90,000 offers on the INK Cash or INK Unlimited cards. When I was ready to apply for cards those offers had ended. I thus opted for the INK Preferred 100,000 points offer instead. That card still has the bonus offer of 100,000 point after $8,000 spend. (The card does have a $95 annual fee.)
I would have rather signed up for the 90k offer on the Cash/Unlimited cards in order to max out the 0% APR offer on those cards. However, since the signup bonus on those cards were down to 75,000, I decided to get the INK Preferred card with the higher 100k bonus.
I applied using my brother’s referral so that he’ll get 40,000 points with the card approval. As usual, the INK Preferred application went pending. Surprisingly, I got an approval email just an hour after the application. Typically I have to wait at least a few days to hear back, and so this was a pleasant surprise.
- Capital One Spark Cash Plus:
The other card I applied for was the Capital One Spark Cash Plus business card. This card has a bonus of $1,500 after $20,000 in spend and another $1,500 if you spend $100,000. I definitely hope not to be able to meet the $100,000 in spend 🙂 but think I’ll be able to meet the $20,000 requirement with various tax payments and other upcoming spend. That gets me a return of 7.5%, on top of the regular 2% cashback.
There’s also a similar bonus on the Venture X business card, but I decided to go for the Spark Cash Plus due to the lower annual fee and the ability to more easily liquidate the points. For a lot of other people, the Venture X deal will be the better choice.
I was pleasantly surprised to get an instant approval on this application. Yay! One thing I’ve done which might help with getting automatic business approvals is trying to have all the information mirror that of previous applications so they bank’s system finds it familiar. With each application, I try marking down the exact details on how I signed up (business address, business industry, phone, etc) to try keeping things consistent.
What monthly income or expenses are needed to report for approval? on the low end, not millions TIA
CapOne is a big bully!!!! I’d stay away
A month ago my wife got immediate approved for a Venture X Biz. We were excited to spend the $30K requirement for the 150K SUB. Two weeks later our cards arrived however we couldn’t activate the card since CapOne put a restriction on the account. Customer service said further verification was need and asked for personal bank statements to be uploaded which she did immediately and the agent verified receiving. Agent said the review will take up to 10 biz days which was totally nonsense. We waited and waited and today, after the 10 biz days, CapOne says they need to call her bank to verify her identity. Total BS. What’s the point of approving a card if further investigation is needed. We canceled the card. Both of us have had CapOne bank accounts and credit cards for the past 8 years. CapOne should stop advertising their cards if they are going to treat their loyal customers like this.
captial one sucks! they are scammer
I don’t get the appeal of the Cap One $20K spend. Even if you can spend that much (taxes etc.) why would you not split that over a couple of Chase/Amex cards? (e.g. Business Gold Amex + Chase Ink)?
My guess the strategy is only have 1 hard pull vs. >1 hard pulls on the credit report. This Capital One Bus CC account does add to 5/24 though.
$50M annual revenue. Capital One has approved me for three of their business cards. Venture X – no limit, Spark 2% – $100k limit, Spark 2X miles – $40k limit. Approved for $100k Spark 2% at $5M in revenue and 770 credit.
I have a small business but I don’t spend enough to meet the bonus requirements on these. Am I able to use a business credit card for personal expenses unrelated to my business?
CapOne has a refer-a-business program.
@Chuck would you share your referral link? I’d like to apply and support DoC.
We don’t share our affiliate links for credit cards/bank accounts to remain unbiased (that includes referral links)
I already have the Venture X Business Card, with the new limited offer can I apply again for the same one or should I go with the Spark Cash Plus?
Of course, the real problem is getting approved for ANY Capital One card. I’ve stopped trying.
No joke, those guys are picky as hell! I took it personally at first (as a newbie). But come to find out they hate all us humans equally.
Thank goodness Chase isn’t like that, they are the golden goose of churning
I have never been turned down from then, business or personal. I recently got one of the 2% cash back cards as I had not had one of those in a while. I wanted the 12 month 0% rate. I have a personal Venture card as well.
if you’re in 2P mode, why not do 3x Spark Cash Select? $2,250 (+ no AF so an extra $150 difference) cashback with $18k spend? I haven’t seemed to have issue getting 3 sparks when alternating SSNs over 3 or so months.
Spark Cash Plus does not show on personal credit report unlike the other C1 biz cards
Oh I didn’t realize it was just the Plus version, that’s odd it’s only that one.
I think it’s because it’s a biz charge card, not a credit card.
What 3x? I only see 1.5 or 2x
P2 applied for Ink Unlimited at 75k with referral, easy message over to Chase to ask for 90k offer once spend met and they said yes. This has worked for me a few times.