Originally Posted by
10SNE1
OK - tomorrow, I am planning to apply for both the SW RR Plus Business and SW RR Plus Personal credit cards. My business is a rental house that I have rented out since 1999, but I have never had a business CC nor have I had a business checking account. My gross income from the rental is $4800/yr ($400/mo) and can be verified by my tax returns if needed. Hopefully this is enough to justify a business cc. I file Schedule E each year on my income taxes.
I took a look at the business version CC application today and had a few questions on how to properly fill it out:
- Name of Business: is this just my name or leave blank or something else like "Rental Property"?
- Tax ID #: is this just my ss # in my case?
- Business Address: do I use my home address or the address of the property?
- Average business checking acct balance YTD: I don't have a business checking acct. Do I leave blank or input $0 or give average balance of one of my personal checking accounts.
- Other accounts with Chase? I have the Chase Priority Club CC (got it in May of this year). Just wondering if I should leave this blank since it's not a required field. I'm sure they will easily see it anyway.
- Chase online UserID and password check box? Similar to my Question #5.
I have been told to apply for the business card first. How long or soon after I apply for the business card should I apply for the personal card? If I get instant approval on the business card, I will apply for the personal within a few minutes. If I get a pending notification for the business, should I call the reconsideration or status line first before applying for the personal?
I am wanting to get the CP in early January. Thanks for your help!
I do some legal consulting as a side job, and get 1099'd on that money. However, it just goes into my personal checking account, so I don't have a business checking account (or even a tax ID number or anything like that). I just used my name as the business name, my SSN as the tax ID number, and the portion of my checking account that came from my consulting as the checking account amount.
Initially didn't get auto-approved, and called the reconsideration line. Talked to the guy, was just honest about everything, and he approved me for $5k. I had applied for the premier personal card as well, and that one was not auto approved either. I called that reconsideration line, and told I was declined due to too many inquiries (specifically the SWA business card they just approved me for). I argued a bit and they approved me for $10k. So weird. So I'm on track to get CP in January, hopefully.