Chase Ink Strategy and Business Credit Card FAQ

By Gavin | June 19, 2019

Today we are going to walk through how to apply for trace ink cards as well some strategy that you might want to consider when you make these applications.

Three of these Ink cards

The first thing is that there are going to be three of these ink cards that you can actively apply for right now. This is going to be the cash card, the unlimited card as well as the preferred card, the CSD, CIU, and CIP. The bonus is for these three cards are going to be 50,000, 50,000, and 80,000 chase ultimate reward points.

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You can transfer these to other cards like the Chase Sapphire Reserve, if you do have those cards or if you have the chasing preferred or the Chase Sapphire Preferred you can transfer directly the chases partners which is what I typically recommend.

It will be a very good use case, these cards are affected by Chase 524, but they do not add to it, this means that if you are someone who is currently at 4:24 then you're going to be able to get this card, and you're still going to be at 424 after adding this card.

But if you add some other card, let's say that Bank of America, our American Express gold card or pretty much any other card that goes onto your credit report, then you go from 424 to 524, and then you're no longer eligible for these Inc cards.

Whether you can have multiple of these cards

The other major thing a lot of people wonder about is whether you can have multiple of these cards, the main thing is that there are a lot of other chase rules, like the one sapphire rule or the one selfless rule and people get it a bit confused.

Because they think that ink cards have the same thing, there's no rule like that as of February of 2019 for this for the ink cards, so you can technically get all three of these ink cards and get all the bonuses, and you're not going to run into any problems for a lot of people they actually do go for all three.

Because 50 plus 50 plus 80 is a hundred and eighty thousand chase ultimate reward points, if you add that all up even if you cash that out that's 1800 dollars.

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If you to which words, travel, almost 4000 dollars in value, if you transfer out a partner like I yet, these are going to be business cards, meaning that you need to have either a business to apply for them, or you need to qualify as a sole proprietorship.

Qualify as a sole proprietorship

Most people if you do anything else that makes money on the side you would technically qualify as a sole proprietor, different states are going to have different roles. So I'd recommend looking into it specifically for your States. But for most people you can apply for a card and you don't really need anything else, you do need to apply using the right business name if you are going as are so prop then I recommend using your first name and last name, and that's it.

There are some other states where you can do first name, last name, and function, Larry Bird training, and that's going to be fine.

But I've heard of people telling me that they run into problems, it's just safer doing it as Larry Bird as the business, even though you can't get all three, should you get all three for most people?

I think you can typically get about one to three business cards without raising any flags, you can get more than that's if you have a business that has been around for a while, but I would expect a bit more scrutiny rather than people getting just one card, for one to three cards are not really going to run into that many problems.

What're the best practices

Typically, if you're not, didn't file, if you don't have anything weird on your credit file, if you are someone going for three business cards I would typically recommend these three mostly for the bonuses, unless you are someone going for selfless companion pass, in which case I would probably swap out the chase ink unlimited card, for that Southwest card just for companion pass. If you are going to apply for business cards what's the best practices? What is the best spacing?

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Ideally, you have one chase card verse to me at least, but a lot of people still actually start off with chase business cards as their first business cards, so that's not a definite no. It really just depends on your credit history, so there's not really any fixed answers here.

For me, I'd probably have the freedom card first, ever someone early in the game freedom card, then add something like the CIC or the CIU depending on which one you like better, and then waits for one to two months before you apply for the next card.

The shortest amount of time

Given that Chase does not combine hard inquiries anymore officially and make sense to kind of separate these out by a month, the shortest amount of time for business cards that are recommended would be about one every month, but for most people if you don't have a strong credit file I think that might be a bit too aggressive.

I'd recommend two or three months between business card applications, if you are someone who is aggressively getting chase cards, you do want to recognize your income versus or credit limits with Chase, they want to give you about fifty percent of your income as total credit limit among all of your chase cards.

If you make $100,000 you need to stay around $50,000, a credit limit within all of your chase cards, business cards and personal cards, meaning that if you are someone aggressively going for chase cards you might want to decrease your limits in order to make approvals easier.

Be approved by the system rather than talk to someone

The big idea here is that you want to be approved by the system rather than have to talk to someone and move credit limits around. If you are at hundred K salary and you're currently at fifty thousand of credit limit I would personally decrease my credit limit by five thousand dollars.

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Might be five thousand on one card, it might be one thousand on five cards, that way you carve out room for them to approve five thousand to you, without you having a talk to anyone on that.

Note if you are someone who is interested in learning more about these cards and you want to support our channel pretty easy way to do that would be to use the links on our sites.

Make Product change them within other ink cards

The final thing is what you can do if these trace cards, you can product change them within other ink cards, so the CIC can turn into the CI you and the CI you can turn into the CI, PR, any of these combinations however you want.

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If you apply for the card and you don't get approved immediately then I would recommend waiting, the main reason is that you have less scrutiny on your accounts, and just less talking oftentimes is better. For personal cards, you want to call in if you get the notice because you can call the Recon line and get that approved.

Because of accreditation, for business cards, best practice is to just leave it alone and let it get approved at its own pace. Hopefully, that was helpful.

Other web page resource

FAQs About the Ink Business Preferred Credit Card: ink-business-preferred-card-faq