Chase is currently offering a $750 bonus on the Chase Business INK Unlimited card and on the Chase Business INK Cash card. Both of these are incredible offers for fee-free cards. And, for those who prefer cash bonuses, these come at an excellent time given the current Sapphire Reserve PayYourselfBack option of cashing out points against select charges for 1.5 cents per point. That could be a whopping $1,125 cash signup bonus for the fee-free card.
I applied more than two weeks ago for the INK Unlimited card (I already have the INK Cash). Aside from the signup bonus, it’s a nice card to have for the long haul given the 1.5x everywhere earning rate (I don’t have the Freedom Unlimited card). This application went in under a business entity which uses my personal name and SSN as the business name and EIN.
It was a slow approval process, but thankfully it did end up getting approved without much input on my part. I applied over two weeks ago, and just yesterday the approval came through.
Soon after the initial application, they sent me an email requesting verifying documents of the business, and I attempted to fill that request. I also called in twice to ensure they had everything they need and to try getting the application reviewed on the phone. Both times, the reps were confident they’d be able to process the application and render a decision, yet both times the reps met with some sort of verification glitch which they couldn’t understand. Ultimately, both told me I’d have to just wait and let the application play out on its own.
I was convinced this would not turn out to be an automatic approval, but a pleasant surprise hit my inbox yesterday: “Congratulations. We have approved your request for a Chase credit card.” Yay! Luckily, I have a big chunk of business spend due now which will make the $7,500 requirement a breeze. I’ll probably end up cashing out the points with my Sapphire Reserve card for an easy $1,125 win.
Automated system was entirely unreliable (denied, no app on file, etc.). Had to call in and get verified multiple times, have app processed, then verified again, but got it.
Still running into the same issue w/ the typical automated system check.
I was approved today about a week after applying. 3K CL. Chase ran 2 hard inquires one on the date of application and one today. Only applied once and didn’t call recon. Any reason for a double inquiry ?
The online message was to expect a response within 30 days. I received an email with the same info. I used my SSN and name as the business name/ein.
Applied for Ink Cash. Chase hard pulled both Experian and TransUnion.
Spoke with Chase Credit Bureau department. I was told it may sometimes take up to 3 hard inquiries on different dates for Chase to approve an account. The rep stated it is rare but it is not disputable since it is part of the approval process and not considered a duplicate. Was told pretty much the same thing via SM.
Chase Ink Cash
11/9 Application (3/24)
11/25 Approved $3k CL (Have $11K CL with CIP). Going to call and have the CLs reallocated to help meet the SUB.
How can this guy transfer $750 to be 75000 points?
Because it’s actually a UR card, and the bonus is actually 75000 points, but phrased by Chase as $750 cashback. That’s how Chase always advertises its no-fee UR cards, as cashback cards, even though they’re really UR cards, because that assume that many people who get a cashback card will not get an AF card which is needed to unlock UR transfers in which people think of UR as points, and so will only use it for cashback, and so they phrase it as how it would work if used as cashback (by itself, not in combination with another card).
Interesting…I was planning to apply for the Ink Unlimited. Interesting thing happened to me in September. I applied for the Ink Cash as Sole Prop and would be my first bus card. Went pending review, then rejected. Called recon line & spoke with rep for a while as she grilled me on my “ebay resale business” Felt like I was being audited by the IRS! She denied the card and I decided to try same with P2 but her sole prop business was a little more lucrative then what I had applied. Flat out denied. So I decided to cool it for a while as I heard bus cards were slowly starting to be approved & I’d try a month or 2 later BUT 2 weeks later I suddenly received an approval email for my previous application. Thought it was strange, but ok, I’ll take it. Oddly I rec’d maybe 3 or 4 similar emails. Figured glitch on their side. Turned out BOTH my card & P2’s card were approved! So I had 6k of spend that needed to be done by 12/31 in addition to finishing a 4k Sapphire Pref. Thankfully it all worked out and all req’s met. Now that the 75k pt bonus is available, I’m going to try my hand at the Ink Unlimited & see what happens
P2 was instantly rejected. I’m afraid to try myself and end up with 2 cards approved again…might wait this one out a few weeks
Is the business name “Doctor of Credit”? Is “Doctor of Credit” in good terms with Chase?
Is the business name “Doctor of Credit”? no
No, I applied under my personal name
Chase and their system is hit or miss; half the employees are half-wits, the other sometimes quite good. Banking there is like playing the lottery.
Took nearly 3 weeks to get approval for my P2’s LLC United Biz. Called in and said approved initially. 4 Bus days later received an email asking to provide Articles of Inc, Proof of Address, and proof of EIN. Uploaded immediately (which was a nice change, I recall only mail or fax in the past.) approval didn’t come until 7 Bus Days later. Still waiting on the card 5 Bus Days later now.
I applied for INK cash 10/30/20 and got denied using LLC business EIN (biz too new 8/2020) Call reconsideration and after a lengthy interview application was submitted for review. After 1 week received email to submit biz verification Documents. Denied again because “documents submitted doesn’t provide information for biz address verification” I sent the documents they asked for so I called (2nd time) customer service who directed me to fraud verification The rep Stated she didn’t see submitted documents and then transferred me back to customer service who then transfer me back to fraud verification. Called back (3rd) fraud line rep stated she can see submitted documents but there was a problem in the system and she would resubmit. After 1 week with no word, called back again only to be told I was denied bk my address didn’t match. Called back again to learn my apartment number was missing from irs EIN letter. Rep updated my application (removed apt number) and I was finally approved on 11/20/20.
When I got my Ink Unlimited I charged it up to the limit and instead of paying it off, put the money into a 4% earning bank account. Chase gave me the money interest free for a year, so why not make a little extra? Set it up on autopay for 11 months and pay the balance in full a few days before the 0% interest runs out.
It depends on the credit limit, but I made more in interest than I did on the bonus, so thanks Chase.
How much did you make on interest?
A couple thousand or so. I remember it was a lot more than the bonus.
“Stoozing”
Those magical 0% no fee balance transfers and even 0% intro rates got rarer in maybe ’16 or so, when the Fed raised rates.
Now the rate is back to zero. Once the banks have a few quarters of stable default rates behind them I would imagine they’ll come back gangbusters – and my FICO will once again fall.
I have never heard the term “stoozing” – how did that come about? If you stick to the 0% deals on business cards, your FICO score won’t be affected. 😉
At one point I was floating the entire credit limits of two Blue Biz Plus cards and two Ink Unlimited cards (for myself and P2) and stuffed the money into high interest accounts. Yet because they were biz cards, my credit report showed utilization at 1% or less.