I'm going to let you know why I applied for the chase Inc business unlimited card and what I did to get approved back by popular demands credit cards part 19. Before I go into this I won't let you know I decided to apply for the Inc business unlimited card, the reason why I applied for it was.
The reason why I applied for Inc business unlimited card
Number one, it's a brand new Inc business card, they are offering today as 50,000 bonus points, if you just transfer it as cash it equals five hundred dollars. But we put it into the ultimate rewards chase program, you can potentially get almost seven hundred and fifty dollars of value. I'll talk about that later.
The second reason they raid this card to pretty much compete with American Express, it is blue for business card, which gives you two percent back on everything. This card gives chase users 1.5% back on any purchases, so I'll talk about that as well.
Finally, they're giving you an introductory APR rate of 0% the first 12 months. I mean whatever your balance is within the first 12 months, as long as you're paying the minimum balance you don't need to pay off the card for 12 months. Before I decided to apply online I made sure that I was underneath their 5:24 rule.
Answered the online application
I went online and I applied, I answered the online application truthfully, then the dreaded message occurred, which was 'Hey, we need to review this, we will get back to you in 30 days.' If you get a message after you apply and then you get an email saying 'Hey, we need to think about this.
We need to look over your file and we'll let you know by mail in 30 days.' You need to take some action, what I did was I called up chases lemming department directly, their business lending department and I got myself on the phone with a lending specialist.
This is where you need to answer, some very tough questions as honestly as you can, so I went through every question that this representative had, he was direct, he asked about some personal credit line items that showed up on my credit report, he asked about the business and then he asked about my chase business cash cards, obviously chase they were pretty nervous.
Because combined between all of my chase cards, before I even applied for this new business unlimited card, I had over a hundred thousand dollars worth of available credit just with their credit card. So obviously this credit specialist was slightly nervous.
And what had made him more nervous as he looked at my County, he said you already have a $50,000 card with us that you're barely paying the minimum balance and it's holding the truth. I told the business cash card has a 0% APR for 12 months, so I told him I'm not going to pay off the card because I'm not paying any interest on it for the next 11 months, and then he said I see what you did there.
The questions he or she is going to ask you
Anyways we got back to the questions he or she is going to ask you about your LinkedIn business while you're on the phone. He was actually pulling up my business website, so we went through all of these questions and he pretty much told me at the end of the call.
I don't know what to say I'm going to send this up to the next level, the next level of support, but because you have multiple available credit lines with your business cards, and you have one card the gorilla in the room, which is holding a massive 40-plus thousand dollar balance.
This is going to be a tricky situation for you, that was Friday, the weekend past, I signed on to my Chase online account on Monday, and then I saw the new card that I applied for sitting there the last four digits.
What I did next was I got on the phone with Chase Inc and I asked them now that I'm approved, can you three day to me meeting ups? said to me, right now I'm waiting around for five-ten days. I need to use a card now, and the person said no problem, you'll get it by Wednesday to recap.
Something needs to keep in mind
First, you need to go online and apply for the business card, keep in mind you need to be underneath the 5:24 rule, the second thing is if you already have some balances with Chase be prepared to answer those questions, they're going to be very nervous if you already have business or personal cards with high balances.
The third thing that you're going to need to have is your business information, does it matter if it's an LLC or a sole proprietorship? They're going to want to know why are you applying for this card, do not say you're applying for the points, I applied because I run into business transactions where I can't put it underneath my ink business preferred or my business cash card.
These are miscellaneous items where I need to put it now underneath this card because I'm going to get 1.5% and I'll talk about this in a future post. Go ahead and apply, take my advice.
Other web page resource
Chase Ink Business Unlimited Card Approval Tips: chase-ink-business-unlimited-card-approval-tips