How to Get Approved for a Chase Business Card
With Chase now allowing referrals to the Ink Preferred and occasionally increasing signup bonuses there’s no better time to apply!
New Referral Bonus
In terms of a great signup bonus the Ink Preferred definetly wins since it starts at 80,000 UR points! Sometimes you can manage to sign up for the Preferred with a 100,000 point bonus if you’re targeted or apply in branch. Even better considering that would be worth $1,000 in cash or $1,500 if combined with a Sapphire Reserve!
If you have the card though and missed out on a 100,000 point offer Chase is now giving you a chance to get that or more easily with referrals. Starting last week, you can now refer someone to the Ink Preferred and get 20,000 points up to 5 times!
If you have a spouse or a friend that is a business owner you should refer them right away. At a minimum you would be getting $200 value for each approved referral.
Referral and Application Process
One negative about the referral system is that it only works for online applications. This is a bummer since sometimes you can get the 100,000 offer in branch so some people will prefer to apply that way.
To get your referral link ready you will want to click this link to the Chase Refer-A-Friend page.
Once you put in your info I recommend skipping the email to a friend option and instead click on share to social media. This way you can copy the link to the application instantly since they don’t send the email right away.
With that link they will get to an application that is fairly simple and brief.
Since it is a business card Chase will ask the following questions:
- Name of business
- Type (Sole-Prop, LLC, etc.)
- Business Category
- Business Type
- Years in business
- Number of employees
- Annual revenue (no minimum)
Luckily that’s typically all they ask for, they shouldn’t ask for any documents or any of that.
Since it is a business card it is a tad bit harder to get approved. Most of the time you honestly won’t see an auto-approval but don’t panic!
The general consensus if you get a “call us soon” or “decision pending” message is to not call right away. People have reported that when they ignored that message and checked the automated status line a few days later that they were approved. The automated status line is 1-800-432-3117 by the way.
If nothing happens after a few days and you end up with a denial letter in the mail don’t worry, your approval is most likely just one phone call away. Like every other credit card company Chase allows a way for you to call them up and have them reconsider your application.
What to Expect if you Need to Call In
Since this a business card and not a personal one, you can expect to be asked more intrusive questions. If you’re a business owner then you should know your business like the back of your hand, and chase doesn’t expect any less.
Questions to expect:
- What is your business?
- What exactly do you sell?
- How much do you expect to spend?
- What will you be spending on?
- How long have you been in the industry?
- What is your annual revenue, expenses and profits?
- What about your numbers for last year?
- Do you expect to increase your numbers next year?
The questions aren’t too difficult honestly if you’re prepared for them. If you are polite to the analyst and sound confident and like you know what you’re talking about, you shouldn’t have any problems!
So when you’re ready give the Chase Business Reconsideration department a call at 1-800-453-9719. If you don’t get approved the first time don’t forget you can try again.
Be sure to add your referral bonuses to Etoshin as well to keep your point totals updated!