Applying For Chase Ink Business Cards: What You Need To Know

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Chase has some of the all around best credit cards, in terms of the welcome bonuses, return on spend, and perks. This is especially true with their business credit cards.

For example, the Ink Business Preferred℠ Credit Card has the single best welcome bonus of any credit card right now, and I’d argue is the most well-rounded business credit card. Meanwhile the no annual fee Ink Business Cash℠ Credit Card and Ink Business UnlimitedSM Credit Card have their best ever welcome bonuses right now, and are generally great cards for maximizing points.

Who is eligible for a Chase business card card?

Eligibility for a small business credit card is easier than you might think. You don’t need to have a big company, and don’t even need to be incorporated. Even a small side business with limited business revenue makes you eligible for a business credit card, even if you’re just selling things on eBay, do some consulting on the side, or have a rental property, for example.

It goes without saying that you should always answer credit card applications honestly. You might be pleasantly surprised by how easily you’ll get approved.

What are the basic restrictions of applying for a Chase business credit card?

Chase’s general restrictions on applying for cards are as follows:

  • There’s no hard limit on how many Chase credit cards you can be approved for, but rather there’s often a maximum amount of credit they’re willing to extend you, in which case you may be asked to switch around your credit limits on some cards in order to facilitate an approval
  • There are inconsistent data points as to how long you have to wait between applications; some report being approved for two Chase cards within a 30 day period, while others report only being approved for at most one Chase card within a 30 day period, so to be on the safe side I’d recommend getting only one Chase card within any 30 day period
  • You won’t be approved for most Chase business credit cards (including the Ink Business PreferredInk Business Cash, and Ink Business Unlimited if you’ve opened five or more new card accounts in the past 24 months; the good news is that when you’re approved for a Chase business credit card, that application shouldn’t count towards the 5/24 limit, given that it won’t show up on your personal credit report
  • You can hold each of the different “Ink” cards, so if you have the Ink Business Preferred you’re eligible for the Ink Business Cash and Ink Business Unlimited

How should you fill out a Chase business credit card application?

Those who already have business credit cards are probably familiar with the application process, but for those who aren’t, here’s what you need to know. It can be intimidating to apply for your first business credit card, though even if you’re a small business or sole proprietorship, you should be eligible. When applying for a Chase business card, you’ll be asked the following questions, in addition to the typical personal questions about your income, Social Security Number, etc.:

  • Legal name of business
  • Business mailing address & phone number
  • Type of business
  • Tax identification number
  • Number of employees
  • Annual business revenue/sales
  • Years in business

If you’re a sole proprietorship, how should you approach this? First of all, and most importantly, answer everything truthfully. I think the concern that a lot of people have is that they think they need an incorporated business, a separate office, etc., in order to be considered for a business card. That’s not the case:

  • You can use your name as the legal name of your business
  • The business mailing address and phone number can be the same as your personal address and phone number
  • If you’re a sole proprietorship, you can select that as your type of business
  • For the tax identification number, you can put your social security number
  • For number of employees, saying just one is perfectly fine
  • For your annual business revenue, there’s nothing with saying zero, or whatver the amount is
  • For years in business, there’s no shame in saying that it’s new, that it has been 1-2 years, etc.

While a lot of people are intimidated by applying for their first business card, I think most are pleasantly surprised by the results. Again, the most important thing is to always be truthful on the application.

How hard is it to get approved for a Chase business credit card?

When it comes to getting approved for business credit cards, Chase certainly isn’t the easiest issuer. In general I find American Express business cards to be easiest to be approved for. However, getting approved for Chase business cards isn’t as tough as some people assume, at least if you have excellent credit.

In my experience instant approvals on Chase business cards are fairly rare, so don’t be worried if the approval doesn’t come through right away. You’ll usually get a pending decision response, and then eventually (hopefully) an approval. For example, my dad applied for two Chase cards earlier this year — for both he got a pending decision, and both ended up getting approved without any need for intervention.

What are the best Chase business credit cards right now?

There are three especially worthwhile Chase cards to consider right now.

First there’s the Ink Business Preferred, which I consider to have the best welcome bonus of any credit card out there at the moment:

  • Welcome bonus: 80,000 Ultimate Rewards points after spending $5,000 within three months
  • Annual fee: $95
  • Return on spend: 3x points on the first $150,000 of combined purchases per account anniversary year on travel, shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engines

Then there’s the Ink Business Cash, which has its best ever welcome bonus at the moment:

  • Welcome bonus: $500 cash back (which can potentially be converted into 50,000 Ultimate Rewards points) after spending $3,000 within three months
  • Annual fee: $0
  • Return on spend: 5x points on the first $25,000 of combined purchases per account anniversary year at office supply stores, and on internet, cable, and phone services, as well as 2x points on the first $25,000 of combined purchases per account anniversary year at restaurants and gas stations

Then there’s the Ink Business Unlimited, which also has its best ever welcome bonus at the moment:

  • Welcome bonus: $500 cash back (which can potentially be converted into 50,000 Ultimate Rewards points) after spending $3,000 within three months
  • Annual fee: $0
  • Return on spend: 1.5x points on all purchases

Is there an ideal order in which to apply for Chase cards?

Given that applying for Chase business cards won’t count towards your 5/24 limit, in general I’d recommend applying for Chase business cards before applying for Chase personal cards. If it were me, I’d pick up the Ink Business Preferred first (since I consider it to be the most well rounded of the three cards), and then would pick up either the and/or Ink Business Cash or Ink Business Unlimited, depending on whether you value the 5x points in select categories, or 1.5x points across the board, more.

Bottom line

Chase has some fantastic credit cards, and in particular, they have great business credit cards. This includes the card that I consider to have the single best welcome bonus out there, as well as a cards with best-ever welcome bonuses right now. Not only do the cards have great bonuses, but they have excellent bonus categories, ranging from 1.5x points on all purchases, to 3-5x points in select categories.

Applying for business credit cards in general can be intimidating for new businesses, though I recommend giving it a try using the above tips, and you’ll probably be pleasantly surprised by the results.

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Comments

  1. I’d be careful applying for a business card if you don’t have a legitimate business. Even with one, Chase has been a pain. I have a small business (rental property) and got a couple of Chase business cards. Eventually they closed 1 (why 1? I have no idea) because of an issue with an address. Not sure why it was a big deal but I submitted a correction but it was after Chase’s issue.

    More recently I applied for a different business card from Chase and called once to check on it and that lady seemed to indicate it was a credit limit issue but later I got a form letter asking for information that showed the letter did not reflect anything in my application.

    For example they wanted a copy of a utility bill, uh, well, I don’t have a business office, it is run out of my house. Eventually I called again and got a supervisor who realized what was going on and approved me.

    So be careful.

  2. Any issues with getting sign up bonuses on multiple cards similar to the Sapphire family, or you could conceivably get all 3 over the course of a few months?

  3. Is there any issue with how you put spend on the business card? E.g., will they balk at loading up your initial spend on something like home owner’s insurance or charitable donations, when your business is travel photography?

  4. It is increasingly difficult to get a chase business card because they verify legitimacy of the business if you use your SSN as your EIN per the recon line I spoke with. The few friends that applied all got “send in business documentation” letters before the application can be approved. Those that didn’t send anything in the applications were cancelled after 30 days. Lucky for me I have a legit business license without an EIN required and they accepted it.

  5. I have gotten business cards from other issuers without a problem, even though it’s just a sole proprietor (investments). My understanding was that issuers like business cards because the cardholder does not have the same protections as with a personal card.

    I did everything recommended in the article so let’s see if it works. Otherwise it is Amex for me which would be a shame as I am a good and long-standing chase customer

  6. I applied for the ink preferred. Chase is so ridiculous that when they asked me to go to the branch and have them upload the incorporation they just couldn’t “find” it afterwards. Then they asked me for a utility bill when it is an online business out of my home. What era do they live in? They have some serious software issues. I may or may not try to reapply but rather than just waiting, I’ve decided to shift my business card focus onto Amex rather than Chase. It is quite ridiculous that they can’t find an uploaded file because their system is so convoluted.

  7. @ Lucky. I just applied for this card today but did not get instant approval (a first for me). I have excellent credit (over 800), use Chase as my business and personal bank, including home mortgage. Is there a number I can call to see if I can get this approval process through quickly rather than wait to receive notice in the mail as I got some big spending coming up.

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