Hurry Up and Wait: My Experience Applying for the Chase Ink Business Preferred

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Like many of us in the miles and points hobby, I’d been careful with my card applications recently because I wanted to get below Chase’s 5/24 rule.  And over the summer, I finally “got out of jail” and became eligible for Chase cards again!

I knew exactly which card I’d try for first.  The Ink Business Preferred℠ Credit Card has been on my wish list since it was introduced.  Its huge 80,000 Chase Ultimate Rewards point bonus after meeting minimum spending requirements, great bonus categories, and money-saving perks like cell phone insurance have been beckoning for nearly 2 years!

So a few weeks ago I pulled the trigger and applied.  After what seemed like a lifetime of the “please don’t close this window or hit the back button” screen with that annoying spinning wheel, I was NOT immediately approved.  Ugh!

Sad Trombone –  Excitement Turned to Letdown When My Ink Business Preferred Application Went Pending

I was bummed, for sure.  And my impatient side didn’t relish having to sit around for up to a month to learn whether I’d get approved or not.  But I resisted the temptation to call Chase and instead set about waiting (and whining about it to the rest of the Million Mile Secrets team). 😉

Here’s how the rest played out.

Pending Isn’t Always Bad News

Apply Here:   Ink Business Preferred Credit Card

Read our review of the Chase Ink Business Preferred


Admittedly I’ve been coveting the Ink Business Preferred for quite a while now.  While I don’t have a huge business (just a couple of side hustles – I applied as a sole proprietor using my Social Security Number) I knew many folks have gotten the card even with minimal business income.

It was discouraging to get a pending application, because in the past I’ve never had trouble getting approved for Chase cards (even business cards).  But I was a little anxious when I applied, because it’s been over 2 years since I’ve applied for a Chase card and they’ve definitely tightened up their rules since then.

I chatted with my colleague Meghan about the application going pending because she already has the card.  She was very reassuring and said not to worry, because both her and her mother’s last Chase business card applications also weren’t immediately approved and she ended up having to call reconsideration for hers.

Come to find out, all Chase wanted was some sort of proof of her business – not any fancy paperwork or tax returns or anything like that.  She was able to send them a copy of her business card, and that sufficed to get her approved!

Team Member Meghan Got Approved After Sending Chase a Copy of Her Business Card

Her experience made me a lot less anxious.  That said, after a week went by with no letter or email from Chase, I was pretty much resigned to getting denied and having to call reconsideration.

Then, the unexpected!  I logged into my Chase account 8 days after applying and there it was on my card list!  But still no letter and no physical card.

I breathed a sigh of relief – there would be no reconsideration call after all.  The physical card just came in the mail, a full week after it first appeared in my online account.

Finally!  I Can’t Wait to Start Using My Card

So, what next?

What I’ll Do With the Chase Ink Business Preferred

The Ink Business Preferred comes with an 80,000 Chase Ultimate Rewards point bonus after spending $5,000 on purchases in the first 3 months of account opening.  So that’ll be a huge boost to my Chase Ultimate Rewards balance!

My first priority is switching my cell phone auto payment to the card, and cancelling the ~$9 per month device protection I have on my phone.  Because when you pay your bill with the Ink Business Preferred, you get automatic cell phone insurance.

That savings alone will more than make up for the $95 annual fee, so I’ll definitely be keeping this card for the long term.  Team member Keith has used the cell phone insurance benefit twice in the past year and saved a ton of money.

Then, I’ll set about meeting the minimum spending requirement to earn the bonus.  As a reminder, with the Ink Business Preferred, you’ll earn:

  • 3X Chase Ultimate Rewards points per $1 on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
  • 1X Chase Ultimate Rewards points per $1 on all other purchases

Once that’s done, I’ll have enough Chase Ultimate Rewards points in my account to take the kids to Hawaii, which they’ve (well, me too) been dreaming about.

My Girls Were Super Little (and My Son Was in Utero!) When We Last Visited Hawaii as a Family

I’ll probably transfer Chase Ultimate Rewards points to Singapore Airlines to book flights to Hawaii on United Airlines.  That’s about the cheapest way to get to Hawaii from where we live.  And I’ll likely move more Chase Ultimate Rewards points to Hyatt to book a few nights at the Grand Hyatt Kauai.  I’ve been, but the kids haven’t, and I think they’d have a blast.

After all that, it’ll be time to get another Chase Ink card!  I’ve also got my eye on the no-annual-fee Ink Business Unlimited Credit Card, which comes with a $500 bonus (50,000 Chase Ultimate Rewards points) after spending $3,000 on purchases within the first 3 months of account opening.  Here’s our review of the Ink Business Unlimited.

Bottom Line

After finally getting below 5/24, I applied for the Chase Ink Business Preferred.  And felt disappointed because my application went to pending.

I didn’t hear anything from Chase for a week.  But then the card suddenly appeared in my online Chase account (hooray!).  And I’m super excited because the physical card just came in the mail.

Unlike team member Meghan, I didn’t have to call reconsideration!  And I don’t have a multi-million dollar business or anything like that, just a couple of side hustles to earn a bit of extra cash.

So if you’ve been on the fence about applying for the Ink Business Preferred, don’t be discouraged.  You can apply as a sole proprietor using just your Social Security Number like I did.  And you may qualify for small business cards without even realizing it.

You can apply for the Chase Ink Business Preferred here.

Jasmin Baron was an editor at Million Mile Secrets. She covers topics on points and miles, credit cards, airlines, hotels, and general travel. Her work has appeared in The Points Guy and Business Insider.

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! :)

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