On Friday I submitted my application to Chase for the Ink Bold Business Charge Card. When I clicked the final button to apply after entering all of my information I was a little bit disappointed when I got this response….
“Your application requires further review before making a decision….” are you kidding me? Rather than wait for them to contact me, I called them right away. If you’ve gotten this page then you should call now. 1-800-453-9719 is the number to call.
The customer service at Chase is unmatched in the financial world. A live person will answer your call every time you call, not a lame machine. When the rep answered the phone I voiced my concern as he pulled up my account. “One moment Mr. Christensen”, he said in plain English.
He then asked me a few questions…
- What type of business is it that you have Mr. Christensen?
- How long have you been in business?
- Who generally pays you, the companies or the clients?
- What is your business’ annual income for the last three years?
- What is your personal annual income?
- How much do you anticipate charging each month on your new card?
- Do you understand that this is a charge card, and that the balance must be paid in full each month?
When he was done with the interrogation and he undid the handcuffs I felt like I had the right to ask him a few questions back. (His answers are paraphrased in my own words)
Why are you asking me so many questions? Is my credit terrible or something?
No, Mr. Christensen, with a business card any delinquencies won’t show up on your personal credit report, so we must do our due diligence to make sure that you have the ability to pay the amounts on the card. We want to make sure that your business is profitable, or that you would have the means to pay the card off with another source of income.
What is the minimum business size needed to get approved for this card?
There isn’t a minimum size. We really just want to make sure that the business is profitable.
Have you had a lot of interest in this card since you’ve changed the offer?
Most definitely. This offer has brought in a lot of customers and we have been much busier than usual.
Why you want the Chase Ink Bold Card
As we’ve blogged about before, this offer was just sweetened when they lowered the spending requirement from $10,000 within 3 months down to only having to spend $5000 within three months of activation. I didn’t want to miss out on this opportunity because I’m not sure when they were going to pull the offer.
The flexibility of the Chase Ultimate Rewards program makes this card worth the application. Here are a couple of past posts showing how great the Ultimate Rewards are:
- How Brad used his Ultimate Rewards to book his trip to Panama
- Ultimate Rewards Travel Partners
- Transfer Ultimate Rewards to Amtrak
- Transfer Ultimate Rewards to Southwest
- Using Chase Ultimate Rewards
Just got mine after similar experience calling in to the recon line. I was hoping to leverage Office Depot vanilla but missed that opportunity. No crying when you start with 50,000 points though.
Travis-
Glad to hear it, man! Yes, especially when you consider how flexible the UR points are… it’s a dream. Nothing like taking advantage of really cheap flights combined with points as cash. If you get really hungry, you can buy other giftcards at Office Depot, but they do have a little fee.
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Just wanted to say that I tried this tip and it worked beautifully. Thanks!