Ink Business Preferred approval tips

Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.

Update:   One or more card offers in this post are no longer available.  Check our Hot Deals for the latest offers.

If you like Chase Ultimate Rewards points as much as we do, you’re probably interested in the new Ink Business Preferred Credit Card offer of 100,000 Chase Ultimate Rewards points after spending $15,000 in the first three months. That bonus is worth at least $1,000 in cash or you can transfer Chase Ultimate Rewards points to airline and hotel partners to book future award travel (once things return to normal).

Here are a few tips to make sure you have the best possible chance of being approved.

There’s no silver bullet, but you can improve your chances of getting approved for the Ink Business Preferred. (Photo by Andrey_Popov/

Chase Ink Business Preferred approval tips

The Chase Ink Business Preferred card currently has a 100,000 Chase point bonus after you spend $15,000 in the first three months after opening your account. This is the most valuable public sign-up bonus we’ve ever seen for a Chase small business credit card. And one of the best travel credit card bonuses available right now. The card does have a $95 annual fee and it earns Chase Ultimate Rewards points at the following rates:

  • 5x Chase points on Lyft rides (through March 2022)
  • 3x Chase points on the first $150,000 spent in select categories each anniversary year, including travel, cell phone bills and shipping
  • One Chase point per dollar on all other purchases

Improve your credit score

For Chase Ink Preferred card it’s ideal to have a credit score of at least 740, although it is possible to be approved with a lower score (read our guide to the credit score you need for Chase cards for more information). However, we do not recommend applying for travel credit cards unless your credit score is above 700.

If you need to improve your credit score the best way to do this is to consistently pay your bills on time and in full. Your payment history is the biggest factor in determining your credit score. You’ll also want to maintain a low credit utilization ratio, which has the second biggest impact on your score. Your utilization ratio is calculated based on the amount of credit you have access to and how much of it you’re using. That’s why it’s possible to boost your credit score in the long term by opening a rewards credit card, even though open a card will put a temporary hit on your score.

But no matter how great your credit score is, Chase always has the final say. They look at many factors, like the credit limit you have across all your Chase accounts. If you have lots of Chase credit cards, you may have more difficulty being approved for new cards. That’s because Chase will only extend you a certain amount of credit based on your income, credit score and other factors.

Operate a for-profit venture

The Ink Business Preferred is a small business card, so you’ll need a small business to get the card. However, you may have a small business without realizing it because you don’t need to be running a full-time operation to qualify for a small business card. A side hustle, freelance gig or independent contractor work could work. This could be things like babysitting, coaching, driving for Uber/Lyft, selling items on Etsy/eBay or delivering food.

Also, keep in mind that to open a small business card you do not necessarily need an Employer Identification Number (EIN). If you are a sole proprietor you can use your Social Security number as your business tax ID and your name can be your business name. For more details read our guide to completing a Chase business card application.

Wait long enough between applications

There is no official rule on how long to wait in between Chase credit card applications, but there are some general guidelines that will apply in most cases. Generally, you’ll have a tough time getting approved for more than two Chase cards within 90 days (one business card and one personal card). Although, this isn’t a hard and fast rule, it’s always best to play it conservatively. People have been approved for two personal Chase cards in 30 days, but personally I wouldn’t press my luck.

Be under the Chase “5/24 rule”

If you’ve opened five or more credit cards within the past 24 months from any bank, you will not be approved for any Chase card. This is know as the Chase 5/24 rule. Business credit cards from most major banks (except Capital One and Discover) won’t appear on your personal credit report and therefore won’t add to your 5/24 count – this includes Chase business cards. So you’ll still need to be under the Chase 5/24 in order to qualify for this card, but once you’re approved it won’t add to your 5/24 count.

What Happens If You’re Not Approved?

When you apply for a credit card you’ll instantly get a message from the bank, telling you the application is either approved, declined or pending. Here’s what you should do if you aren’t immediately approved.

Wait for a response

Wait for the automated system to give you an answer. Do not call Chase right away, that way you have more chances at being approved. Chase’s automated system may still approve you even if your application initially went into “pending” status. If it doesn’t, then you should call Chase and speak to a representative to plead your case.

Call Chase reconsideration

If the automated system denies you, it’s time to call Chase. You can reach Chase small business card reconsideration at 800-453-9719. A few tips to remember when calling the reconsideration line:

  • Be friendly. Customer service representatives put up with a lot. They’ll appreciate kindness.
  • Know why you are applying for this card, other than the intro bonus. Know key features of the card that you’ll use.
  • Ask if you can move some credit from another card to the Chase Ink Business Preferred, so Chase doesn’t have to lend you more credit.

Bottom line

The Chase Ink Preferred has one of the best sign-up bonuses right now. You’ll earn 100,000 Chase Ultimate Rewards points after you spend $15,000 on purchases in the first three months of opening your account.

If you want the best odds of being approved for the Chase Ink Business Preferred, make sure you:

  • Have a credit score above 700, but preferably 740+
  • Operate a for-profit venture, like consulting or selling items on eBay
  • Wait long enough between Chase card applications
  • Are below the Chase “5/24 rule”

Even if you’re doing everything right, Chase can still decline your application for whatever reason they want, but you can improve your chances. If your application isn’t immediately approved, you should wait for the automated system to make a decision. If you’re declined, you should call Chase to be reconsidered.

  For more travel and credit card news, deals and analysis sign up for our newsletter here.

Jason Stauffer was a writer for Million Mile Secrets where he covered points, miles, credit cards, airlines, hotels and general travel. His work has appeared in The Points Guy and NextAdvisor.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

Join the Discussion!

Inline Feedbacks
View all comments