Should You Apply For The Sapphire Reserve Or Ink Business Card First?

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Daniel B asked the following question in the Ask Lucky forum:

For at least a month now I have been trying to figure out in what order to apply for some credit cards. I definitely want to get the Ink Business Preferred card with the 80k bonus. I understand that I can get it even if I am above the 5/24.
I am at 4/24 now. I was thinking of getting the Chase Sapphire Preferred (50k bonus) FIRST (which will put me to 5/24), then within a few days apply for the Ink Business, because that latter card I should be approved for even if I am at 5/24.
Please let me know whether I am correct with these assumptions?

Since there’s a (mostly) right and wrong answer here, and since this is something that confuses many people, I think it’s worth addressing specifically. Most of the confusion here stems from the 5/24 rule:

Daniel currently has four new cards showing on his personal credit report for the past 24 months. If he applied for the Sapphire Reserve now, he’d have five cards showing on his personal credit report, and wouldn’t be eligible for any more cards that are subjected to the 5/24 rule. However, if he applied for the Ink Business Preferred, that card would be unlikely to show on his personal credit report, meaning that he could still then apply for the Sapphire Reserve.

So Daniel, you should apply for the Ink Business Preferred℠ Credit Card first, which has a big welcome bonus of 80,000 Ultimate Rewards points, offers up to 3x points in popular categories, and has great purchase protection, travel protection, and even an unrivaled cell phone protection plan.

I’ll take it a step further. I might even consider then applying for the Ink Business Cash℠ Credit Card, which currently has its best ever welcome bonus of 50,000 points. That card has no annual fee and offers up to 5x points in some categories. The two cards complement one another nicely, and since it’s also a business card, it generally shouldn’t show on your personal credit report as a new card.

Since neither of those cards is likely to show up on your personal credit report, you should then still be eligible to be approved for the Chase Sapphire Reserve® (though you’d have to wait for a bit, since you can typically be approved for at most two Chase cards in a 30 day period).

The one caveat I’d add here is that there is a chance you’d be denied for the Chase Sapphire Reserve on account of too many recent inquiries. I don’t think it’s likely, but it’s certainly possible. After all, there’s more that Chase looks at when approving the card than just whether you have five or more new card accounts showing on your personal credit report.

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Comments

  1. @Lucky: in your paragraph of: “However, if he applied for the Ink Business Preferred, that card would be unlikely to show on his personal credit report, meaning that he could still then apply for the Ink Business Preferred.”. Presumably you meant that I could still apply for the Chase Sapphire Reserve?

  2. @Daniel B. If you can afford the $8k MSR, you should hit both CSR/CSP at the same time to get the 115k UR points. assuming your */6 and */12 is okay.

  3. Can I apply for the Ink Business Preferred and the Ink Business Cash THE SAME DAY? I ask in case this gets flagged for multiple applications in one day and 130K combined points from 2 cards sounds amazing. I’ve been “out of the game” for a few years due to a new baby so I’m down to 0/24 atm.

  4. @ Jorge — Many report luck doing that. Personally I’d wait until the first card is approved and then apply for the second one just to be on the safe side and avoid them being flagged as duplicate applications, but ultimately either method should work. Let me know if you have any other questions.

  5. @ Lucky – So in the last 2 years I have opened up Chase Reserve, Freedom Unlimited, Chase Ink Business Preferred, Alaska, United Explorer and IHG. I know the IHG does not count towards the 5/24 rule, does Chase Ink? Also, with me still having opened 6 cards in 2 years would I still be able to be approved for the Chase Ink Business Cash card?

  6. 5/24 for me ended two days ago, but I applied for the Ink Preferred three weeks ago after asking Chase via secure message online if I could do that. They told me to go ahead and apply, so I did. Received a letter in the mail asking for verification of my business’s EIN and address. Sent that in, and just received an email tonight saying I was approved. Not sure how that all works, but I’m just glad I got the card. Ink Business Cash is next and then the Reserve!

  7. OK so I’m looking to add a few new Chase cards this year, and next month (June 18′) i’ll be back at 4/24 after I had dropped myself as a AU from my wifes United MP Explorer last month and had the record removed & confirmed via Experian.

    Currently I’m holding only ONE personal card with Chase, the IHG Select card since Sept. of 2015 with a CL of $21K+. Current FICO score between 805-822 depending on which card service I check.

    My plan come June 1st is to FIRST apply for the Chase Business Ink Cash CC and soon after apply for a CSP (Personal).

    Is this a good or doable plan? Recommended time period between applications? Should I reduce the CL on my current IHG CC before either application? (I rarely use the card, current $0 balance) Thanks!

  8. @ NJturtlePower — That sounds like a good strategy to me, especially applying for the business and then personal card. You should be able to apply for both cards the same day, and can read more about that process here:
    https://onemileatatime.com/2018/03/29/apply-for-two-chase-credit-cards-same-day/

    I don’t think it’s necessary to request that your credit limit be lowered. Worst case scenario Chase may ask you to shift over some of your credit line, but if anything having that credit on another card gives you some leverage. At least that would be my approach.

  9. @lucky So the day is here, applied for the Ink Cash this morning as a SP, and got the 30-day decision notice email and screen.

    Now what? Call in, wait it out? Keep seeing conflicting articles of next best move. If denied still any chance for other Chase cards or go elsewhere?

    Checking my Chase personal account app status shows nothing yet, but I got an alert that an inquiry was added to my Experian credit report.

  10. I applied for the Business Ink Preferred and was approved. 4 months later I applied for the Business Ink Cash and was approved. Within the same month I applied for the Sapphire Reserve and was denied! Their reasons: 1. not enough time passed since last account was opened (I thought business cards are not shown on my credit report). 2. balances grew too past compared to credit limit/time on file (approved for 15k and have about 6k balance. I actually use this card for business purposes! I don’t have any Chase personal cards). 3. Rapid growth in Chase cc balances. (How else was I supposed to spend 5k in 3 months?)

    So business card balances are taken into consideration now? Anyone think I will have a shot with the reconsideration line?

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