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Applying for Chase BUSINESS Cards (April 2020 onward)

Applying for Chase BUSINESS Cards (April 2020 onward)

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Old Apr 29, 20, 4:53 am   -   Wikipost
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In April 2020 Chase criteria for approving BUSINESS card applications have become more stringent. All Chase INK products are business cards. Chase also issues co-branded business cards for United Airlines and Southwest Airlines.

Chase business cards are subject to the 5/24 restriction, but approval of a Chase business application does not increase your N/24 count.

For general information about applying for Chase cards, including explanation of the unpublished 5/24 rule, please review the Wikipost of the PERSONAL card thread: HERE

Anyone can apply for a business card as a sole proprietor. If your business has a registered company name, which Chase can verify, you may use the name to apply. Otherwise, use your legal First and Last name as the business name. Do not add any extra words, do not use a made up name. If Chase cannot verify the name the application will fail.

Useful Chase telephone numbers
(888) 269-8690 - Business Credit Card Application Status Line, automated
(800) 453-9719 Business Credit Card Reconsideration Line with live rep
(800) 453-9719 Credit Reallocation Office (Business cards)
(888) 622-7547 Executive Offices

Twitter: @ChaseSupport

Note: In the past, automated telephone status reports stating that Chase would notify you in 2 weeks often resulted in an approval, whereas the "7-10 days" telephone recording often indicated imminent denial. In 2016, this pattern became increasingly unpredictable, with many applicants receiving approval despite an earlier "7-10 days" automated telephone message. As a result, automated telephone responses should not be regarded as reliable indicators of an application's likely outcome.

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Old Apr 18, 20, 3:05 pm
  #1  
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Applying for Chase BUSINESS Cards (April 2020 onward)

You guys understand that the relief funds for small businesses were dried up within a week, and small businesses are struggling.. so im not surprised at the tight restrictions for the CIP or any Chase related Biz credit, especially with their mortgage restrictions.

Theyre just trying to get ahead of the curve.

Either way, might have to lay low on the CIP apps.. at least for now.

Last edited by philemer; Apr 19, 20 at 10:46 am Reason: not allowed
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Old Apr 19, 20, 8:48 am
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. Welcome to FT.

Last edited by philemer; Apr 19, 20 at 10:47 am Reason: redacted info because of edited post about
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Old Apr 19, 20, 4:46 pm
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Originally Posted by abraar34 View Post
You guys understand that the relief funds for small businesses were dried up within a week, and small businesses are struggling.. so im not surprised at the tight restrictions for the CIP or any Chase related Biz credit, especially with their mortgage restrictions.

Theyre just trying to get ahead of the curve.

Either way, might have to lay low on the CIP apps.. at least for now.
what the poster is referring to, i think, is that on reddit there are numerous reports of chase business card application denials since around 4/16, where those applicants were approved for chase biz cards in the past. Reasons stated for denial were "insufficient balance in deposit and investment accounts" and "business structure" regarding applicants with a sole proprietorship.

It seems as though all chase biz cards have the new application restrictions, not just CIP. If you think these restrictions would include your situation, probably best to hold off on further chase biz card applications until we know more.
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Old Apr 19, 20, 6:57 pm
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Originally Posted by HappyTravelingConsultant View Post
Just a few data points. Dropped to 4/24 mid-February.

Applied for United MP Business March 1st. Approved immediately. March 10th applied for Ink Cash. Approved immediately. April 13 applied for Ink Unlimited. Approved immediately. 3 business cards in less than 45 days.

At this point, have 4 business and 2 personal Chase cards.

Going to hold off until May then apply for a personal card from Chase, probably a United card. Then another one in June when I'm back to 4/24 after the May application.

Originally Posted by abraar34 View Post
You guys understand that the relief funds for small businesses were dried up within a week, and small businesses are struggling.. so im not surprised at the tight restrictions for the CIP or any Chase related Biz credit, especially with their mortgage restrictions.

Theyre just trying to get ahead of the curve.

Either way, might have to lay low on the CIP apps.. at least for now.
Not everyone is having a problem getting approved for Biz cards.
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Old Apr 19, 20, 7:56 pm
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Originally Posted by philemer View Post
Not everyone is having a problem getting approved for Biz cards.
those applications were prior to April 16th. chase seems to have tightened up biz card approvals since that date.
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Old Apr 20, 20, 8:22 am
  #6  
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Originally Posted by 808traveler View Post
those applications were prior to April 16th. chase seems to have tightened up biz card approvals since that date.
I'm not surprised. Lending guidelines across the board have been tightened while the banks gird up for big losses ahead. Thanks for this DP.
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Old Apr 20, 20, 11:05 pm
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DOC Reporting Major Changes To Chase Business Apps

https://www.doctorofcredit.com/chase...edium=facebook


https://www.doctorofcredit.com/chase...date-required/

I applied for a SW Premier Business just now as I heard it may e going away, app went pending. Applied as sole Prop using the usual start up business, 1 year in business, $1000 revenue.

https://www.doctorofcredit.com/chase...edium=facebook

Last edited by flyer4512; Apr 20, 20 at 11:34 pm
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Old Apr 21, 20, 6:51 am
  #8  
 
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Originally Posted by abraar34 View Post
You guys understand that the relief funds for small businesses were dried up within a week, and small businesses are struggling.. so im not surprised at the tight restrictions for the CIP or any Chase related Biz credit, especially with their mortgage restrictions.

Theyre just trying to get ahead of the curve.

Either way, might have to lay low on the CIP apps.. at least for now.
Originally Posted by 808traveler View Post
those applications were prior to April 16th. chase seems to have tightened up biz card approvals since that date.
Originally Posted by StartinSanDiego View Post
I'm not surprised. Lending guidelines across the board have been tightened while the banks gird up for big losses ahead. Thanks for this DP.
Are there any data points on applying since 4/16/2020 when one already has at least one Chase business card? According to the new rules, I wouldn't be approved now if I applied like I did with the ones I have. I just got my 2nd CIP, approved on 3/24/2020. I used a referral and got the $5K/80K SUB. I used sole prop/SSN for EIN/zero everything method to apply. Both CIPs were approved with no issues. Since I already have them, I wonder if I would have trouble getting another one. Any DPs on this situation?

If I do decide to get more, I'm pretty sure I can use my rental house numbers. I've been renting it out for over 12 years. I don't have a business name or EIN for it, but it would be a sole prop.
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Old Apr 21, 20, 11:05 am
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Originally Posted by g289t View Post
Are there any data points on applying since 4/16/2020 when one already has at least one Chase business card? According to the new rules, I wouldn't be approved now if I applied like I did with the ones I have. I just got my 2nd CIP, approved on 3/24/2020. I used a referral and got the $5K/80K SUB. I used sole prop/SSN for EIN/zero everything method to apply. Both CIPs were approved with no issues. Since I already have them, I wonder if I would have trouble getting another one. Any DPs on this situation?

If I do decide to get more, I'm pretty sure I can use my rental house numbers. I've been renting it out for over 12 years. I don't have a business name or EIN for it, but it would be a sole prop.
Yes, several. That's the point of the entire thread - Chase has made approval for business card apps more difficult as of 16 April. People who have been previously approved are now being denied.
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Old Apr 21, 20, 11:54 am
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Originally Posted by g289t View Post
Are there any data points on applying since 4/16/2020 when one already has at least one Chase business card? According to the new rules, I wouldn't be approved now if I applied like I did with the ones I have. I just got my 2nd CIP, approved on 3/24/2020. I used a referral and got the $5K/80K SUB. I used sole prop/SSN for EIN/zero everything method to apply. Both CIPs were approved with no issues. Since I already have them, I wonder if I would have trouble getting another one. Any DPs on this situation?

If I do decide to get more, I'm pretty sure I can use my rental house numbers. I've been renting it out for over 12 years. I don't have a business name or EIN for it, but it would be a sole prop.
Originally Posted by Diplomatico View Post
Yes, several. That's the point of the entire thread - Chase has made approval for business card apps more difficult as of 16 April. People who have been previously approved are now being denied.
I applied last night for a SW business Premier and receieved a letter in my account saying I was denied because the business was too new, I put down the usual one year in Business and $1000 revenue.

I do have an INK card that I have held ( and use monthly) at least 5 years under a bar I used to own. I don't think I want to outright lie now and say I still own it to get a new credit card.
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Old Apr 22, 20, 2:03 am
  #11  
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Originally Posted by flyer4512 View Post
I applied last night for a SW business Premier and receieved a letter in my account saying I was denied because the business was too new, I put down the usual one year in Business and $1000 revenue.

I do have an INK card that I have held ( and use monthly) at least 5 years under a bar I used to own. I don't think I want to outright lie now and say I still own it to get a new credit card.
Ditto. I applied April 19 for Chase Ink and received a 7-10 days pending message. So I called Chase business recon and was advised that my business was too new (I have a new EIN but no revenue yet). This is my first Chase biz card app and the first time I have been denied (I have currently have 4 Chase personal cards including JPM-R and generally apply for 1/yr)

Also applied for an Amex Blue Business Card, was asked to call the verification department, and received an instant approval. So clearly Amex values my business and Chase does not. Does not bode well for my continued CPC business. Also this means Chase will lose interchange fees on about $50k that I will charge instead to Amex.

4/27 Addendum: Received denial letter via US Mail from Chase, which stated my business was too new and noted my credit score was 892 (out of 900).

Last edited by Boraxo; Apr 28, 20 at 4:53 pm
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Old Apr 22, 20, 7:14 am
  #12  
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Originally Posted by Boraxo View Post
....clearly Amex values my business and Chase does not.
No, it means Chase is currently more risk averse than American Express. All issuers know that a high fraction of so-called business cards are used by individuals for personal spending, but it looks as if Chase is not willing to risk that you really did just start a business in the face of the collapse of the retail economy. It would be interesting if someone who has just been declined for a Chase business card would now apply for a Chase personal card.
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Old Apr 22, 20, 9:13 am
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Originally Posted by mia View Post
No, it means Chase is currently more risk averse than American Express. All issuers know that a high fraction of so-called business cards are used by individuals for personal spending, but it looks as if Chase is not willing to risk that you really did just start a business in the face of the collapse of the retail economy. It would be interesting if someone who has just been declined for a Chase business card would now apply for a Chase personal card.

I applied for the 140K IHG and received IA with a 22.5K CL the day ( yesterday) after I applied for ( and was denied) the SW Premier Business.

FWIW I received a letter in my Chase account stating the Bus card was denied, when I call the automated line it still says 7 - 10 days.

Back to my business app denial, I wonder if a person applying as a SP changed one year in business to say 3 years if that might work as they didn't mention any issues with the $1000 revenue.
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Last edited by flyer4512; Apr 22, 20 at 10:28 am
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Old Apr 23, 20, 8:15 am
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Originally Posted by flyer4512 View Post
I applied for the 140K IHG and received IA with a 22.5K CL the day ( yesterday) after I applied for ( and was denied) the SW Premier Business.

FWIW I received a letter in my Chase account stating the Bus card was denied, when I call the automated line it still says 7 - 10 days.

Back to my business app denial, I wonder if a person applying as a SP changed one year in business to say 3 years if that might work as they didn't mention any issues with the $1000 revenue.
Here's another DP: I applied for my second CIP (80k/$5k through referral) on 4/13 using my EIN (first CIP from October was using SSN). It went to review and then this past Monday I got a letter saying that they needed more business info. I sent in a copy of my EIN letter from the IRS, and then I just got a message this morning saying that I was denied due to "business structure." My business is 3 years old with $10k revenue and $130k in total personal income. Haven't applied for a personal chase card in over 90 days, and a chase business card since October.

Any recourse? I could call, but I don't know what I would need to say/do to make them change their mind.
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Old Apr 24, 20, 10:25 pm
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Chase apparently changed a bunch of things about business card applications in the past week or so, making denials close to guaranteed apparently:

Chase Now Requiring You To Login Before Being Able To Apply For Business Cards

Chase Seems To Be Tightening Small Business Credit Card Application (Insufficient Funds, Business Structure)

Anyone here been approved for a Chase business card application since 4/17?

Last edited by sdsearch; Apr 28, 20 at 2:26 pm Reason: reduced font size
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