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Qualifying for a small business credit card is easier than you think. And if you’re not getting business cards, you’re missing out on a world of miles & points!
Lots of folks want to know how to fill out a Chase business card application for lucrative cards like the Chase Ink Business Preferred. Because it can be intimidating to try something new and different terms might be confusing.
If that’s you, you’re not alone! Lots of folks felt the same way starting out. That’s why I started the small business reader success series!
It’s been a long time since I’ve written about how to navigate a Chase business card application. So it’s time for an update.
Chase Business Cards & the “5/24” Rule
If you’ve opened 5 or more personal credit cards (from any bank) in the past 24 months, it’s tough to get approved for a new Chase business credit card.
Most times, the business credit cards you’ve open in the previous 24 months don’t count as part of your 5 cards. For example, business cards from American Express, Bank of America, Chase, Citi, and Wells Fargo, do NOT count against you.
If you are over the “5/24” limit, you won’t be able to get most Chase business cards (except for the Chase Marriott Business card). If you aren’t sure what your “5/24” count is, you can use Credit Karma to check your status.
Are You Eligible for a Small Business Card?
Qualifying for a business credit card might be easier than you realize. You don’t need an EIN (Employer Identification Number) or 6-figure revenue. Million Mile Secrets team member Scott applies for Chase business cards with his social security number. That’s how he was approved for his Chase Ink Business Cash Credit Card. (It’s his favorite no-annual-fee business card!)
You might already qualify as a business if you sell on eBay, Amazon, or on local sites for a profit. Team member Keith does this and qualifies for business cards as a result!
Small business cards make it simple to separate personal and business expenses. And if you’re just starting out, it can be an easy way to invest in the business and earn miles & points at the same time!
How to Complete a Chase Small Business Credit Card Application
All Chase business card applications ask virtually the same questions. But if you are applying for an airline (United Airlines, Southwest, etc) or hotel (Marriott) business card, have your loyalty account number on hand to attach to the application. If you don’t have a loyalty account before applying, you will be assigned one.
These screenshots are from an application for the Chase Ink Business Preferred card.
Step 1. Tell Chase About Your Business
Here’s how to fill out this form.
Legal Name of Business
If you are a sole proprietor, your legal business name can be your own name or the name of your business.
Business Name on Card
This is the business name you want to appear on your credit card. It can be your name or a variation of your name, like “Jane Doe Photography” if you are a photographer.
Type of business
Choose sole proprietor (a business owned by one person), partnership (a business owned by 2 or more people), or select the appropriate legal structure of your business (LLC, corporation, etc.).
Tax Identification Number
If you don’t have an EIN (Employer Identification Number), use your social security number. The box is formatted differently than your social security number. But both numbers are 9-digits long, so it will work.
Select a Business Category, Type & Subtype
Select the options that best describe your business.
Number of Employees
This is the total number of employees you have. Select 1 if you’re a sole proprietor.
Annual Business Revenue or Sales
Enter the total amount you receive annually for selling your products or services. If you are just starting out and haven’t sold anything yet, enter “0.”
In the past, Emily has entered less than $100 of revenue on her application and still been approved for a small business card.
Years in Business
Enter the number of years it has been since you started the business. This may be longer than when you first made a profit, because you likely spent money on your business before you earned any.
Business Mailing Address
This is your home address if you run the business from your home.
Step 2. Tell Chase About Yourself
As a business owner, you will be personally responsible for paying the credit card bill. So Chase will want to know what your income is so they can verify that you will be able to pay.
First, select your authorizing officer title. For a sole proprietor, you will be the “owner.”
Then, enter your personal contact information. For your gross annual income, you can include money you receive from a job, your businesses, and your spouse’s income.
Step 3. Give Chase More Personal Information
Even though Chase business cards don’t appear on your personal credit report, they still need to check your credit score.
So you’ll need to enter your personal phone number, business phone number (can be the same as your personal phone number), email, date of birth, social security number (even if you entered it before), and your mother’s maiden name.
Step 4. Add Employee Cards (Optional)
Adding employee cards can be a great way to keep track of expenses. But only get them for folks you trust, because you’re still responsible for the charges.
Step 5. Submit Your Application
This is your last chance to review the details of your application. After making sure you entered everything correctly, check the box to agree to the “Certifications and Pricing & Terms“ and click “Submit“.
If your application is denied, I recommend calling Chase’s business reconsideration line at 800-453-9719. Occasionally, Chase will just want a few more details about your business or to verify certain information. Sometimes you can move credit from one card to another or offer to close an existing card and Chase may change their decision.
But even if they don’t change their minds, calling will give you a better idea of what you’ll need to change to be approved next time!
Our Favorite Chase Business Credit Cards
- Chase Ink Business Preferred – It has an awesome sign-up bonus worth $1,000+ in travel or $800 cash and has great category bonuses (80,000 points after spending $5,000 in the first three months)
- Chase Ink Business Cash – not going to argue with no annual fee and a sign-up bonus of $500 after spending $3,000 in the first three months.
Note: To earn a sign-up bonus you must meet the card’s minimum spending requirement. So be sure you can do that!
Small business credit cards aren’t just a great way to earn lucrative sign-up bonuses. They’re helpful in keeping track of expenses and useful for investing in your business.
You don’t need 6-figure sales or an EIN (Employer Identification Number) to get approved for a Chase business card. You can use your social security number on your application. And if you’re just starting the business, it’s okay to have very little or no sales.