Applying for a second Chase business card?

rhinodh

rhinodh

Level 2 Member
Here's the situation: my wife has a Chase Ink Plus from last summer's 70k offer (signed up as a sole proprietor/new business). Now, I'm interested in having her get the SW business card again as a sole proprietor. Is she likely to not get approved since she already has a business card with Chase ($10k limit)?

We're more than willing to cancel the Ink if we need to to get the Southwest card, so I guess there's always a chance we can do that and get approved. We're trying to get the companion pass again, so I really need it to work out. I would apply for it in my name (currently have no Chase business cards), but I really want to get the Hyatt card so I can get the 20% off redemption (have a big redemption coming this summer), and it's my understanding that you can't/its hard to get two personal cards from Chase at the same time.

Any thoughts/advice?

We're closing on our new house in two weeks, so shortly after that there will be a credit card frenzy.
 
Matt

Matt

Administrator
Staff member
rhinodh said:
Here's the situation: my wife has a Chase Ink Plus from last summer's 70k offer (signed up as a sole proprietor/new business). Now, I'm interested in having her get the SW business card again as a sole proprietor. Is she likely to not get approved since she already has a business card with Chase ($10k limit)?

We're more than willing to cancel the Ink if we need to to get the Southwest card, so I guess there's always a chance we can do that and get approved. We're trying to get the companion pass again, so I really need it to work out. I would apply for it in my name (currently have no Chase business cards), but I really want to get the Hyatt card so I can get the 20% off redemption (have a big redemption coming this summer), and it's my understanding that you can't/its hard to get two personal cards from Chase at the same time.

Any thoughts/advice?

We're closing on our new house in two weeks, so shortly after that there will be a credit card frenzy.
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I have several Ink Bolds. Hopefully that will help clear up your concern there :)

Good luck with the closing!
 
A

Alex1432

Level 2 Member
Just be willing to call reconsideration and move credit lines around they usually have a limit of what they want to give you and you have to split other credit lines to get under it.
 
Matt

Matt

Administrator
Staff member
Alex1432 said:
Just be willing to call reconsideration and move credit lines around they usually have a limit of what they want to give you and you have to split other credit lines to get under it.
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Personal cards I have this issue with, but never noticed CLs with Biz cards- have to ask them what the limit is. Probably due to holding just the charge cards though...
 
F

Fuerza

Guest
Matt said:
I have several Ink Bolds. Hopefully that will help clear up your concern there :)

Good luck with the closing!
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Matt are you using EIN's when applying or using SSN? I got my ink last summer as a SP using SSN. I'd like to get another but I'm looking at options.
 
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Alex1432

Level 2 Member
Matt said:
Personal cards I have this issue with, but never noticed CLs with Biz cards- have to ask them what the limit is. Probably due to holding just the charge cards though...
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Maybe, when I got my INK they definitely wanted credit from my personal lines to support the new cc. I don't really have a very good business it doesn't make to much money so that may have something to do with it as well ;).
 
rhinodh

rhinodh

Level 2 Member
She also has a personal card with Chase with plenty of CL to give up to open a biz card, so it sounds like our odds of getting a biz card are fairly good.
 
F

Fuerza

Guest
Thanks for sharing. Tempted to apply for a new card. Running low on UR points.
 
Steven58

Steven58

I like hats.
I have the SW business for the purpose of getting the 50k promo toward the companion pass, which I'll procure next cycle (a few days from now). I just got the INK so I could get UR's. They questioned me, but I was honest and said I wanted to use it for the 5x UR on telecom. He asked me what my business was. I told him. He was drawn in to what I do and he approved me. Simple. Bestt wishes.
 
italdesign

italdesign

Level 2 Member
I would like to hear more data points on applying for a 2nd Chase biz card with $0 revenue. What was your result, and how long did you wait from your first biz app?

My friend was declined. Recon offered it if he closed his biz #1. But, this was his 5th Chase card in 6 months (he is a beast). It would only be my 2nd in that period.
 
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f0xx

Level 2 Ninja
italdesign said:
I would like to hear more data points on applying for a 2nd Chase biz card with $0 revenue. What was your result, and how long did you wait from your first biz app?

My friend was declined. Recon offered it if he closed his biz #1. But, this was his 5th Chase card in 6 months (he is a beast). It would only be my 2nd in that period.
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More like looking to get himself banned from Chase.
It's been widely reported that Chase will close all your accounts (CC, Checking, Savings) if you open too many cards.
 
M

MilesJunkie

Level 1.66 Member
f0xx said:
More like looking to get himself banned from Chase.
It's been widely reported that Chase will close all your accounts (CC, Checking, Savings) if you open too many cards.
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+1. FT has examples too on the Chase closed my accounts thread. Basically, risk department will say his credit with Chase is too extended with so many accounts.

But the crazy thing is they're the ones who gave/approved all these accounts! Chase's left hand says screw it to right hand and vice versa.
 
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f0xx

Level 2 Ninja
MilesJunkie said:
+1. FT has examples too on the Chase closed my accounts thread. Basically, risk department will say his credit with Chase is too extended with so many accounts.
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There was a gentleman on FICO Forums that was a CPC... He got the hammer too after IIRC 6-7 cards. Even held the Palladium.

He basically had to fight and fight with Chase to reinstate ALL his accounts.

Doesn't matter who you are.... They'll give you the axe.
 
F

f0xx

Level 2 Ninja
italdesign said:
6-7 cards total? That's nothing. Or do you mean in a short period of time.

What's CPC?
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IIRC is it was in a period of 12mo.
I'll try and find the thread. It was in 2014.

There is a certain AR soft pull you'll find from Chase.... If you have it.... You better start burning points.

Chase Private Client.
 
ctbarron

ctbarron

Level 2 Member
italdesign said:
I would like to hear more data points on applying for a 2nd Chase biz card with $0 revenue. What was your result, and how long did you wait from your first biz app?

My friend was declined. Recon offered it if he closed his biz #1. But, this was his 5th Chase card in 6 months (he is a beast). It would only be my 2nd in that period.
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I have an Ink Bold from 2012, revenue then and now not much above zero. Got denied for a second card last year when they had one of the high bonuses. I tried every trick I know but no good. The reason: for the size of business I have enough credit already. From a pure finance perspective this is the correct answer, but I was ticked.

FWIW this would have been my 5th Chase card since 2012.
 
italdesign

italdesign

Level 2 Member
f0xx said:
IIRC is it was in a period of 12mo.
I'll try and find the thread. It was in 2014.

There is a certain AR soft pull you'll find from Chase.... If you have it.... You better start burning points.

Chase Private Client.
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Thanks. Passed it on to my friend.

AR?
 
italdesign

italdesign

Level 2 Member
ctbarron said:
I have an Ink Bold from 2012, revenue then and now not much above zero. Got denied for a second card last year when they had one of the high bonuses. I tried every trick I know but no good. The reason: for the size of business I have enough credit already. From a pure finance perspective this is the correct answer, but I was ticked.

FWIW this would have been my 5th Chase card since 2012.
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Did you by chance offer to close your Bold?
 
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Paul1711

Level 2 Member
I have a Ink Plus for my sole prop, but wondering how the points work if I open a corporate card for my LLC? Can I transfer them to my personal account or are they seperate?
 
Skywardbd

Skywardbd

Level 2 Member
I opened both an Ink Bold and Ink Plus last year within a 5 month period. Sole proprietorship. New business with very little income. Had to call reconsideration with both, but was approved. No other Chase cards.
 
C

CCTWW3

Level 2 Member
Paul1711 said:
I have a Ink Plus for my sole prop, but wondering how the points work if I open a corporate card for my LLC? Can I transfer them to my personal account or are they seperate?
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I have an Ink Bold under my sole proprietorship and an Ink Plus under my LLC. They both appear on my Chase account and I have freely moved points between the two (including the Chase Sapphire Preferred) also associated with the account.
 
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mmax1

Level 2 Member
I think now with Chase it is very important to have meaningful revenue. In the past, I know they approved for a business with $1000 of revenue. Now I wouldn't apply with less that $10000. I was approved for an Ink in May after initially being declined, but it required a lot more than $1000 of revenue. The agent asked me to "forecast" future revenue and approved me when I provided a higher number.
 
quasi8

quasi8

Level 2 Member
Chase seems very generous with the cl on my ink+ almost doubled it in less than a year without even asking, similar experience with amex in the past where other cards have such a hard time giving you more even with high spend and no balance carried.
 
T

Timrek

Level 2 Member
quasi8 said:
Chase seems very generous with the cl on my ink+ almost doubled it in less than a year without even asking, similar experience with amex in the past where other cards have such a hard time giving you more even with high spend and no balance carried.
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Thanks, good to know. I have a 15k CL on my Ink but have had a lot of trouble getting approved for a second Chase biz card. I wonder if I can get them to raise the CL and then later on use some of that CL for a second biz card.
 
italdesign

italdesign

Level 2 Member
The standard rule of "if you have to call Chase, you will most likely be denied" applies to biz apps as well. Kenny summarized it in one of his articles.

It started with biz apps, now applies to personal apps too.

Therefore I don't think a high CL on existing card is going to help much. Your best bet would be to close the existing biz card, if you really want the new one. They don't seem to easily give out the second one.
 
T

Timrek

Level 2 Member
italdesign said:
The standard rule of "if you have to call Chase, you will most likely be denied" applies to biz apps as well. Kenny summarized it in one of his articles.

It started with biz apps, now applies to personal apps too.

Therefore I don't think a high CL on existing card is going to help much. Your best bet would be to close the existing biz card, if you really want the new one. They don't seem to easily give out the second one.
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Thanks. I'll think about closing my Ink then but I'm not sure I want to because chase may make it hard to get it back. They've become such stickers lately, and ruining all our fun.
 
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AGtravel

Level 2 Member
my wife got rejected for chase sapphire but was able to get it approved after reducing CL in the freedom card - the conversation was tough but somehow made it work. not sure in the case of biz card. i would personally not let go the Ink as they are getting tougher to get.
 
TravelDean

TravelDean

Say NO to road trips
Do I have a better chance of getting a 2nd INK if my first is under my SSN and the second application is under my other business EIN?
Not sure if I should even apply with all the new restrictions.
 
A

AGtravel

Level 2 Member
Check out this blog link for the 2nd INK card. Nothing looks to be a "confirmed" approach - it depends. Reading through a few other blogs, the sign-up bonus can also be a question if you have a INK card less than 24 months old.

And to your point, be very thoughtful of chase applications - I got rejected for chase sapphire as I had more card application (greater than 5 ) in the last 2 years.

http://frequentmiler.boardingarea.com/2015/05/18/ink-rules-options-for-getting-additional-60k-and-30k-ink-plus-and-ink-cash-bonuses/
 
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