A few weeks ago reports started circulating about people being approved for Chase business credit cards while over 5/24. This is a fantastic prospect, as I’ve been waiting months to drop under 5/24 and have Chase business cards are at the top of my list to pick up.
I’ve never held a Chase business card that earns Ultimate Rewards. By the time I got on the business card train (with an actual side business), Chase had rolled out their 5/24 rule. I just managed to snag the Marriott business card before the infamous 5/24 rule took effect on that one as well.
So I’ve been Ink-less for the entire time I’ve been in this hobby. I know. It hurts. Ink cards are a staple of many people’s earning strategies. This has made me really keen on an Ink card as my first pick once I drop below 5/24. Keen enough to look into these offers.
Jumping the Gun on the Chase Ink Business Unlimited
I followed the advice developed from others’ experiences to a T. Logging into Chase and navigating the to “Just for You” section in the sidebar menu, I pulled up my business card offers, I found that three of the cards had the necessary black star. So far, so good.
Clicking on each to be taken to the details, I found that only one had the second requirement: a fixed APR. The Chase Ink Business Unlimited showed an APR of 14.74% after the introductory 0% period. The other two had variable APRs. It would have to be this one or nothing.
The real question was whether I wanted to jump on an offer now, or wait another month and a half to drop under 5/24 and pick up any business card I wanted (making the broad assumption that I won’t have any issues being approved). This was the Chase business card I wanted least. The Chase Ink Business Cash is a better choice, as I currently am without a card that has significant spend bonus at office supply, and the Ink Preferred simply has a much better sign-up offer. Maybe I should wait.
In a moment of (potential) indiscretion, given that the timeline for finally being under the dreaded 5/24 mark was not that far away, I decided to pull the trigger. Everyone I’d spoken with who had applied had been instantly approved. I figured that this would be the case, as I was roughly in the same situation as them.
Filling out all my personal and business info, I nervously clicked the button to submit the application.
Uh Oh: No Instant Approval
Instead of a happy message saying that I’d been instantly approved for the Chase Ink Business Cash, I instead got this dreaded screen. My heart sunk. Given that there wasn’t any sort of instant approval, I figured I was out of luck.
I became even more worried that this might trigger account review, as there were reports surfacing after the fact that people were being reviewed and shut down. I knew my risk was minimal, as I’ve put a lot of spend on Chase cards this year and have less than 10 hard hits on my credit report at the moment.
But it was still a worry. And now Chase would be reviewing my account due to the recent application where I was definitely not under 5/24.
All’s Well That Ends Well
After about 10 calendar days, I had neither received anything in the mail nor via email. With radio silence from Chase, I’d given up hope. Which meant that when the email hit my inbox congratulating me of my Chase business card approval, I was elated. The fabled black star offers can bypass Chase 5/24! But it is definitely a YMMV experience.
The outcome made me glad I had gone through with the application. It’ll let me pick up another Chase business card a month of two sooner.
Now it just needs to come in the mail. Living where I do, this is a more common problem than you might think. But soon enough I’ll have another 50,000 Ultimate Rewards in my pocket!!
Did you apply for a Just for You offer? What was your experience?