*WATCH ME APPLY* Chase Business Credit Card Application (Chase Ink Business Cash)
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THE CARD
– Chase Ink Business Cash
THE OFFER
– Earn $750 cash back after spending $7,500 on purchases in the first 3 months, issued as 75,000 Chase Ultimate Rewards points where 1 point = 1¢ ($0.01).
THE APPLICATION
– Standard online application. No special promotion. No targeted offer. I also applied as a guest without logging into my preexisting Chase account.
THE REWARDS
– 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
– 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
– 1% Other Purchases
SEVERAL KEY BENEFITS
– No cost to add additional employee cards
– Redeem for cash back, gift cards, travel, and more through the Chase Ultimate Rewards portal
– Primary auto rental collision damage waiver when renting for business purposes
– Purchase protection
– Extended warranty protection
– More
ANNUAL FEE = $0
MY CREDIT FACTORS – BEFORE
Credit Score
– Experian: 789 (FICO Score 8)
– TransUnion: 801 (VantageScore 3.0)
– Equifax: 822 (VantageScore 3.0)
Inquiries
– Experian: 7
– TransUnion: 5
– Equifax: 0
New Accounts
– Past 12 months: 1
– Past 24 months: 3
Average Age of Accounts
– 3 year 11 months
Prior Relationship
– I’ve been with Chase since 2014, which was when I opened my first credit card with them. Since then, I’ve gotten additional personal credit cards, business credit cards, and checking & savings accounts (both on the personal side)
MY CREDIT FACTORS – AFTER
– My Experian credit score dropped 7 points, from 789 to 782 due to the new hard inquiry
– My Experian inquiry count increased from 7 to 8
– No other factors changed.
MY 5/24 STATUS
– I was at 3/24 when I applied
WHY I CHOSE THIS CARD
1. Welcome Bonus: $750 cash back issued as 75,000 Ultimate Rewards points is great, and it can also be worth $937.50+ towards travel with the Chase Sapphire Preferred (or even $1,125 with the Chase Sapphire Reserve if you have it)
2. Spend Requirement / Return on Spend
– I could spend $7,500 in 3 months with my normal expenses
– $750 bonus ÷ $7,500 spend = 10% return (very good)
3. I Was Below 5/24
– After being over 5/24 for 5-6 years, I spent the last 2 getting under
4. Doesn’t Increase 5/24 Count After Approval
– For Chase business cards, you need to be below 5/24 to get approved. But if you get approved, then it does not increase your 5/24 count. Example: Apply at 3/24, get approved, still at 3/24 after.
WHAT IS THE CHASE 5/24 RULE?
It means that Chase will automatically deny a credit card application if you’ve opened 5+ credit cards with any bank that appear on your credit report within the past 24 months.
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#businesscredit #chaseinkbusiness #bestbusinesscreditcards
