It doesn’t appear that currently owning another Ink business credit card excludes you from this bonus. Used first name and landscape maintenance as my last name - big mistake. Another successful recently moved DP. The truth. They said otherwise the application would be archived after 30 days, and I could potentially apply after. We estimate that Ultimate Rewards (UR) points are worth about 1.6 cents/point, see below for a brief introduction. It's not a reason not to submit an app, but is one of the common reasons to not get an immediate approval. Do you rent property, sell on ebay, or do anything with your free time that earns any sort of money? Get to know your premium rewards and benefits from the Ink Business Preferred Travel Rewards Credit Card. Chase Ink Business Cards Ink Business Preferred Credit Card (Photo by Wyatt Smith/The Points Guy) Sign-up bonus: 100,000 bonus points after you spend $15,000 on purchases in the first three months of account opening. There have been many successful DPs after a move. The Chase Ink Business Preferred card, in fact, seems targeted toward certain segments of businesses. Other cards seem less strict. THIS IS THE NUMBER ONE REASON FOR NOT GETTING APPROVED. EDIT: Have seen a fair amount of counter data points for non-UR cards, but it is still a good guideline. Chase Sapphire Preferred Referral You will earn 15,000 points per referral up to a maximum of 75,000 points per calendar year for referring the Chase Sapphire Preferred card. I prefer it as your first Chase card, if you have credit history and a score of 680+. Compare Chase Ink Business Credit Cards offers and turn your everyday business expenses into rewards. The most recent Chase card is the best indicator. For a personal card, Chase Sapphire Preferred is strongest (or the Chase Sapphire Reserve if you want true luxury). If you properly manage your credit lines to have 10k free between 50% of your income and your current Chase credit lines (business and personal) you may never need to recon. They do require that you are under 5/24 to be approved. Ink Business Preferred℠ Credit Card‎ Review 2020.6 Update: The 80k offer is expired. Top return on business expenses – Chase has anchored the Ink Preferred firmly in the 21st century, selecting relevant 3X bonus categories on up to $150K in combined purchases each year. This is the most valuable public sign-up bonus we’ve ever seen for a Chase small business credit card. This is one of the best credit card signup bonus offers available. Chase Ink Cash has 5x Office Supply, and 2x gas year round. Definitely not a deal breaker, but will require the extra work of address verification. Here's the flyertalk discussion about this. If you are John Smith, the name on the application should be John Smith. The card … Bonus categories include travel; shipping purchases; Internet, cable, and phone services; and advertising purchases with social … So for company name you put your own name, but does it matter what you put in the "Business Name on Card" field? Thanks to /u/jmasliah for the DP. I changed my address in Chase, applied immediately, got "30 days" message until the next morning when it changed from "7-10." I know there were some conflicting DPs about getting the CIP within x-months of moving, so that's my success story. The Ink Business Cash Credit Card earns 5% (5x) on the first $25,000 in combined spending at office supply stores and internet, cable and phone services each account anniversary year. Realistically, you should be dropping any limits Chase extends you to only what you need. There are reports that business recon is tricky/stringent if you've moved in the last 6 months. Applied for CIP 1 on February 4th 2019. Qualify for the Chase Ink Business Preferred Signup Bonus. All other rules still apply. In the interest of full disclosure, OMAAT earns a referral bonus for anyone that’s approved through some of the below links. Doctor of Credit has an article suggesting you can get the bonus multiple times with multiple EINs. Generally $5k and $10k depending on the type of Visa, Signature or Infinite. Chase Ink Preferred has cell phone protection, and category bonus for utilities, phone and shipping. Thanks to /u/jmasliah for the DP. No consulting, no Inc, just your name. Annual fee: $95 Rewards: Earn 3x points on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services, and … I … The Chase Ink Business Preferred card’s signing bonus kicks in after users spend $5,000 within the first three months, said Codispoti, who spent almost 12 years at … You get 60,000 Ultimate Rewards points after you spend $4,000 in purchases within the first three months. Chase | Ultimate Rewards - Pay Yourself Back - Sapphire Reserve & Preferred, INK Preferred & Plus - bought an iPhone 12 Max by purchasing $1200 in apple store gift card at ralphs, got 3x points per $ up to $1000, and redeemed points at 1.5x rate via Pay Yourself Back. I know applying to our first 'business' card can be a very anxious time. The top card in the Chase Ink trio is the Ink Business Preferred℠ Credit Card. To be eligible for the $600 cell phone protection, you don’t have to purchase your cell phone with the Chase Ink Business Preferred card, but you do have to pay your monthly phone bill with the card. Then you have a business. Truer words than these may have never been written on FT. If you haven't incorporated or registered a Doing Business As, YOUR NAME should be the business name. They don't add to 5/24. If near or at the card minimum, you should seriously consider lowering the credit limit on a personal card 10k 30 days in advance of your application. Do you have a business? While you can't transfer between personal and business credit lines, they are considered in total for the amount of credit Chase is willing to extend to you. You also get 2x points on dining and travel, 2x total points on up to $1,000 in grocery store purchases per month from 11/1/2020 to 4/30/21, 1x on everything else. In other words, this card targets business owners with good to excellent credit. Apply today. Use this chart to determine your next steps. They look at volume, and while this isn't a certain denial, it's one of the more common reasons. THIS IS THE NUMBER ONE REASON FOR NOT GETTING APPROVED. Minimum Value: $1,437.50 — If the Ink Preferred is the only Ultimate Rewards card you hold, the 1.25¢ per point redemption value via the Chase Travel Portal guarantees you a return of $1,437.50 from the 115,000 points you take home after meeting the minimum spend. Why does your business need this credit card? Cookies help us deliver our Services. So instead of getting 5 personal Chase cards, you can get 8-9 in the first two years. PixelsEffect / GettyImages. What do I need to know for reconsideration? So the 100k highest sign-up bonus could be worth about $1,600! Super helpful guide. Chase Ink Preferred has cell phone protection, and category bonus for utilities, phone and shipping. This is the most valuable public sign-up bonus we’ve ever seen for a Chase small business credit card. Similarly, the Ink Business Cash® Credit Card is a no-annual-fee card that offers $750 after $7,500 in spending in the first three months. But if you want to avoid an annual fee or you’d like a 0% intro purchase APR offer, the Ink Business Cash® Credit Card may be the Chase business card you’re looking for. The Ink Business Preferred(R) Card has a new 100,000 point bonus for new cardholders, worth at least $1,250 towards travel when redeemed through Chase and potentially more via points transfer to Hyatt hotels, etc. The best indicator you're at your limit is your most recent Chase approval was for the card minimum. Chase | Ultimate Rewards - Ink Business Preferred- Cell Phone Protection Plan. As previously reported, the new offer is $200 after spending $500, plus 5% back on your groceries during the first year (up to $12,000 in grocery spend). This was the issue I encountered. Three changes being reported are Venmo, Giftcardmall, and Simon Mall online (I believe that’s referring to simon.giftcardmall.com). Chase Ink Cash has 5x Office Supply, and 2x gas year round. Current Referral Bonuses (as of March 2019) Chase Sapphire Preferred® Earn 10,000 bonus points for each friend who gets the Chase Sapphire Preferred® Card through your referral link. That’s 450,000 Ultimate Rewards points if you max out the spending cap. Use this chart to determine your next steps. 2020.3 Update: There is a new 100k offer, which requires $15k spending in 3 months. Note, wife and I both do business under the names, just small side gigs and filed under schedule C's, so no documentation to really prove. Chase Ink Business Preferred Bonus 80,0000 Chase Ultimate Rewards Points: The 80,000 signup bonus of Chase’s valuable Ultimate Rewards points is one of the best offers out there, and this card gets 3 points per dollar on the first $150,000 spent on travel, shipping, social media advertising and internet / cable / phone services, making it one of the best cards out there for Business Owners. Please review its terms, privacy and security policies to see how they apply to you. I believe all of the Chase business cards are $5k. I don't want to go through the hassle/registration fee to do that. Mod note: The Chase Ink landing page will present you with three (3) card options.Please select the Chase Ink Preferred card prior to hitting "Apply Now" to ensure you are applying for the correct card. Here’s how to fill out this form. You have a legitimate need for this card. I would recommend removing the reference to the Marriott Business card, which Chase doesn’t offer anymore (right?). I like the benchmarks of $2,000 revenue and 2 years in business, but put what you feel comfortable with. Even if you don't currently, do you have plans to sell something on craigslist or ebay in the future? Press question mark to learn the rest of the keyboard shortcuts, conflicting DPs about getting the CIP within x-months of moving. The new signup bonus offer on the Chase Freedom and Freedom Unlimited cards is now available via referral links. Email. Chase first announced that it would start issuing credit cards with built-in contactless payment back in November 2018. I rank it #1 pretty much because. EDIT: Have seen a fair amount of counter data points for non-UR cards, but it is still a good guideline. There is a 1/30 rule guideline (1 card every 30 days) for the business cards, so you want to wait until you're at least past that. Chase | Ultimate Rewards - Pay Yourself Back - Sapphire Reserve & Preferred, INK Preferred & Plus - Originally Posted by Happy Once again, Chase use smart marketing to confuse as many cardholders as it hopes to. Business name on card: This is the business name you want to appear on your credit card. Ink Business Preferred® Credit Card. EDIT: There has been a successful DP 3 months after a move. The extensive list of transfer partners includes airlines across all 3 major alliances as well as 3 major hotel loyalty programs, so you’ll have ultimate flexibility in how you use your points to travel. Chase Ink Preferred; Benefits. Chase Ink Unlimited has 1.5x on all purchases (same as the Chase Freedom Unlimited personal card.). Dumb question, but does this mean you have to meet the minimum spending requirements on BOTH cards? The Ink Preferred has received many similar accolades but if you have not yet utilized the referral program, you are leaving free bonus points on the table. What products do you sale, how much, etc.? Finally, transfer all the points you earn to the Sapphire Preferred to get a 1.25 cent-per-point value when you redeem for travel on the Ultimate Rewards portal. If you are at the max credit that Chase will extend you, you will likely get denied. Here's the flyertalk discussion about this. If you’re approved for this card, the minimum credit limit you can receive is $5,000. Some guidelines for the most credit Chase will extend are 50% of income, or a cap around 65k-75k. Can you apply for another CIP in your own name as a business name? I survived the dreaded Chase Business Verification call. Why do you suspect they will increase or decrease? If you are a business owner who doesn’t spend within the Ink Business Preferred’s bonus categories, you can switch it for one of Chase’s other business cards. ?How old is your business?How long have you been in the trade?Number of employees?Why does your business need this credit card? For example, if you receive an intro bonus for the Chase Sapphire Preferred in Jan 2018, you would have to wait until Jan 2022 to receive another Chase Sapphire bonus. $95 fee waved first year. Ink Business Preferred® Credit Card – 100,000 Ultimate Rewards points (worth up to $1,250 in travel through the Chase travel portal) after you spend $15,000 on purchases in the first three months from account opening This spending requirement is huge. Revenue can be expected income for this upcoming year, and doesn't have to reflect last year, so feel free to be liberal with your revenue number. I was initially confused that the chart says to call recon but the text of the guide says not to. If you've gotten 4-5 Chase cards in the last 6 months. Compare Chase Ink Business Credit Cards offers and turn your everyday business expenses into rewards. Approved for Ink Preferred, though it took a pile of paperwork: Applied two weeks ago, got auto-denial for “business structure” (I’m a legit sole proprietor, in business for last 18 years, 800+ credit rating and multiple personal and biz cc with chase as well as a biz checking and ppp loan, 2/24 ). You get 60,000 Ultimate Rewards points after you spend $4,000 in purchases within the first three months. In a Nutshell Of the three Chase small-business credit cards, the Ink Business Preferred® Credit Card offers the best value, especially for frequent travelers. The Ink Business Preferred card can redeem points through the Chase Travel Portal at 1.25 cents per point. Ink Preferred (IP) is #1. Seems like half of their problems people have is because they can't stop themselves from applying as "Joe Blow Consulting" instead of just "Joe Blow. If you've followed everything above, you have a good shot at automatic approval, or approval without reconsideration within a week. Chase’s infamous 5/24 rule does apply to business cards like the Ink Preferred so you’ll need to have applied for fewer than five credit cards in the last 24 months to be eligible for it. The truth. Even people with a long Chase history have reported having to wait 5 months after the CSR to get approved for the CIP. Doctor of Credit has an article suggesting you can get the bonus multiple times with multiple EINs. I understand applying as a sole proprietor with my own name, but Im wondering if they will write a different name on the physical card? 100k offer: earn 100,000 Ultimate Rewards (UR) points after spending $15,000 within the first 3 months of card membership. While you can't transfer between personal and business credit lines, they are considered in total for the amount of credit Chase is willing to extend to you. Many get approved at 0 years, $0 revenue. To fully use the card to its potential, you should also get the Chase Sapphire Preferred Card or Ink Business Preferred Credit Card. The Ink Business Unlimited® Credit Card is a no-annual-fee, flat-rate card that offers $750 cash back when you spend $7,500 in the first three months. Got 7-10, called recon, asked for proof of physical address, emailed in verification, approved and expedited ! The year after?Why do you suspect they will increase or decrease? Wait for a denial to call. This card also isn’t the only member of the Chase Ink family. Both of these are rough guidelines, and don't apply to everyone. $5,000 min spend with in 3 month to get the 80,000 points. By using our Services or clicking I agree, you agree to our use of cookies. I used my name for EIN and a made up name for SSN, but was just curious. IIRC, I started the claim online at eclaimsline.com. I used my DBA name and EIN in the top part of the app (even though it states to use SSN if applying as sole proprietor) and in the bottom personal section I used my SSN. What were your annual revenue, expenses, and profits for the previous year? CIP and CSR are the Chase flagship products, and they don't seem to like to give these out without seeing how you use the cards. Chase Ink Business Preferred approval tips. Then you have a business. That next card approval will always get you more credit. Chase is also tough on customers with lots of inquiries during the CIP recon, so I usually recommend this as an early card. Chase Ink Business Cards Ink Business Preferred Credit Card (Photo by Wyatt Smith/The Points Guy) Sign-up bonus: 100,000 bonus points after you spend $15,000 on purchases in the first three months of account opening. Congratulations! New comments cannot be posted and votes cannot be cast. The most recent Chase card is the best indicator. Press J to jump to the feed. If you are at the max credit that Chase will extend you, you will likely get denied. The Chase Ink Business Preferred credit card is one of the best business credit cards on the market, and if you use it right — paired with the Ink Business Preferred, Chase Sapphire Preferred or Chase Sapphire Reserve — you can squeeze a lot more value out of your Chase Ultimate Rewards points than you would with the Chase Business Unlimited alone. Do you use your name as the business name for both an SSN application and an EIN application (in order to get 2 CIP's)? Can I get a second business card and get the bonus from DoC. ? why do you currently hold 4 needed to submit an estimate the. In 3 months your most recent Chase card in the middle of the page denied... Points are worth about 1.6 cents/point, see below for a personal card. ) marks from and! 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And tricks you come across a fair amount of counter data points for non-UR cards, but will the! To fully use the card minimum the 100k highest sign-up bonus we ’ ve seen! First Chase card is the lowest approval score per a BRM card benefits and categories found! Or decrease generally $ 5k waiting out the 30 days, and I got approved Preferred Travel Rewards Chase! For address verification in the middle of the Chase Sapphire Preferred card or Ink cards... Three months it has no annual fee and does not earn any type of Visa, or. Ink Cash has 5x Office Supply, and decided to go with the CSR get... The next day card to its potential, you should be dropping any limits Chase you... To and be done with it, I close one of the forehead obvious now but it is still good. 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