Going for the latest 100K Ultimate Rewards business card offer despite 5/24

Ink Cards 2

The Chase Ink Business Preferred card rolled out in the fall of last year with a mighty 80,000 point signup bonus.  I’ve been eager to get the card, but Chase’s 5/24 Rule has been a roadblock.  For most of their cards, Chase won’t approve your application if you’ve signed up for 5 or more cards from any bank within the past 24 months.  And I’m way over 5/24.  I’ve asked a couple of times in-branch whether I was pre-approved for the card (which has proven to be a way around 5/24 for the Sapphire Reserve card), but no dice.

Then, on Wednesday, Doctor of Credit published “New Way To Bypass Chase 5/24.”  The idea is to submit a paper application through a Chase Business Relationship Manager (BRM).  Apparently these applications go through a completely separate process from regular old applications.  And, as a bonus, the business card offers available through BRMs are better than the public offers for these cards.  BRM’s currently offer the following:

  • Chase Ink Business Preferred Card: 100K signup bonus after $5K spend in 3 months (the public offer is currently 80K after $5K spend).  $95 annual fee is not waived in either case.
  • Chase Ink Cash Business Credit Card: 50K signup bonus after $3K spend in 3 months (the public offer is currently 30K after $3K spend).  This card has no annual fee.

I didn’t know if I had access to a BRM, but I remembered that a couple of years ago I met with someone at my local Chase branch regarding my business banking at Chase (I do all of my business banking with Chase).  I dug up old emails and discovered that he was in fact a BRM!  I contacted him and learned that he had moved to another area, but he was able to dig up contact info for my new BRM.  Great!

Ink Business Preferred 100K Offer

Yesterday I filled out the Ink Business Preferred paper application. I considered applying for the Ink Cash card at the same time, but I didn’t want to risk having that 50K offer approved instead of the 100K offer.  If this works out well, I may try the Ink Cash application in a month or two.

My understanding is that it will probably take quite a while before I find out if my application was approved.  Fingers crossed!

About Greg The Frequent Miler

Greg is the owner, founder, and primary author of the Frequent Miler. He earns millions of points and miles each year, mostly without flying, and dedicates this blog to teaching others how to do the same.

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43 Comments on "Going for the latest 100K Ultimate Rewards business card offer despite 5/24"

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Finance Patriot
Guest

Nice you have a branch nearby. Our closest isover an hour away. I had to settle for the tiny 80k offer, which we just wrapped up spend. Amex biz platinum approved today.

Mike
Guest

Some redditors are claiming approvals overnight. Was this the Ann Arbor Main St. branch?

Jeff
Guest

I have 3 Personal Cards with Chase and 3 Business Cards. My third Business Card was HARD to get, and the reconsideration line process was grueling. I did finally get approved, but they seemed awfully skeptical about why I would need 3 Business Cards. Bottom line – am I pushing the limits of Business Cards with Chase, or did I just happen to talk to a really skeptical guy?

Additionally, can I improve my odds of being automatically approved by calling and having my credit limit lowered by, say, $5,000 on two different cards? The reason I was turned down by the automated system last time was total overall credit and we had to move credit around – so would I have perhaps better odds by pro-actively having them lower my limits?

Frank
Guest

@Jeff, I do not believe in reducing credit in advance – ever, not even with B of A. I always try to trade when I want a new card. Why give up something before trying to get something else in exchange? I have many Chase cards (4 business, 6 personal right now and my wife has similar). I had 3 Ink cards at one point (and even then I maxed out the bonuses) but gave one up to get a SW card for companion pass.

I am now thinking of trading 2 other business cards and one personal card for this new Ink Preferred 100K offer if I can get one. What I mean is I apply for the new card, knowing they will likely refuse, then I offer to give up one, two or even three cards in this case. I actually don’t even want these 3 cards anymore anyway – but I won’t drop them without first trying for a new card. Timing is everything and I have an exact day I plan do pull the trigger, frantically looking for a good private client banker right now. I am way over 5/24 – actually I’m 21/24 right now, and 7 were Chase cards! I do push my luck, as you can see. But I am a really good Chase client and have been for many years.

Last time in a branch I was told that the paper route was no longer working (we did that for the Sapphire Reserve last year), but I don’t really believe there is a hard and fast rule at Chase on everything. I think the right banker can get it done. Like most things, a good advocate (salesperson) can get it done for you. Unfortunately right now I don’t have a good banker nearby (mine left).

The worst outcome would be a hard pull and no approval – not terrible, but I could take the alternative approach and go for a different Chase card that is not on the 5/24 list, and so take less of a risk of failure.

Decisions, decisions …. but I always keep in mind that this is just a game and I am really having fun with it.

DAVE
Guest

I have the Ink Cash as a sole proprietor (originally Ink Plus), but I don’t have an EIN. Do I still have access to the BRM?

Matt
Guest

+1, I’d like to know too. I’m self-employed and got my Ink+ with my SSN.

Frank
Guest

@Dave, A business is a business, and it isn’t necessary for having a business relationship manager. But I think you should get an EIN anyway. It looks better on an application and you can get one in 2 minutes. I can see no downside.

DAVE
Guest

Hmm, I wonder if getting a EIN and then reporting no business expenses or revenue will increase risk of audit.

Mark
Guest

Why not just post when you get the result? Clickbait?

Frank
Guest

@Mark, clickbait? I don’t agree with you.

I like to read these musings as I do the same myself, chalisching over every nuanced word in an offer.

Click bait reader
Guest

Every blog post could, in some way, be considered “clickbait”. Greg is running a business and his business will be more successful when more people visit his site and use his application links.

If you don’t like the posts on Frequent Miler, you might think about reading another blog that doesn’t post “clickbait”. You might find such a blog is non-existent, though.

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[…] Going for the latest 100K Ultimate Rewards business card offer despite 5/24 […]

wwllmm
Guest

For clarification, is a BRM the same thing or different than a “Relationship Banker”?

MRS
Guest

I’ve long been interested in getting a buz card. I handle the administrative duties for a group of guys that rent out a basketball court once per week. The annual spend is around $8k/year. I treat the money collection part as a non-profit since I only accept payments for the exact cost of the court each week and the guys all pay me with paypal, bank transfer, venmo, etc. I know that this could be considered a business but I do not want to cause any tax complications for myself. I like dealing with an easy, clean tax return. Is it possible for me to get a buz card and not acknowledge the business income?

Frank
Guest

@MRS, Possible: Yes. Advisable: No.

Mike
Guest

Whether EINs are required or not Chase determines on a per-state basis, per whatever they think the law says. So if you’re still where you were when you got your last Chase business card, you already know.

BigMac
Guest

I called Chase about 6 months ago to cancel my Chase Sapphire Preferred card because I had just got the Reserve, At the time I mentioned that I wanted to get the Freedom Unlimited card and the rep said no problem I can do that for you right now. It turned out that when the FU arrived it had the same credit card number as the Preferred and of course I never got the sign up bonus. So my question is – does this FU card count as a new signup towards 5/24 or not?

Andy
Guest

It’s the account timing, not the card so whenever you originally got the CSP will count towards your 5/24 count

jcb
Guest

Is an EIN tied to my SSN, name, address, etc.? I’ve always just used my SSN for business apps – if I used an EIN would they still see me as the same person that is way over 5/24?

Frank
Guest

@jcb, Yes.

Richie
Guest

Thanks for this article Greg!
If it’s been *under* 90 days since my last credit card run, if I apply through the BRM for the Chase Ink Preferred, will this be overlooked? Or is it better if I wait until the full 90 days are up?

Frank
Guest

I would wait, unless the card bonus is disappearing. I am waiting until day 31 or 32 …. not this card actually, but the other 100K card.

Richie
Guest

Thanks Frank!

David
Guest

Any update on your app status? I submitted mine on the 17th with no updates yet. How’s yours doing?

Mike
Guest

Some redditor buzz Chase will offer in-branch 100K IBP sign-up and 50K Ink Cash during Small Business Week, which technically starts Sunday.

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[…] waiting for a decision on my Chase Ink Business Plus application, which I wrote about here (it has been a long time with that one because my first BRM left on emergency medical leave before […]