Chase Bank offers four Ink Business Credit Cards with outstanding cash-back rewards, designed to fit the needs of businesses of all sizes.
We’ll cover what you need to know about these four options, and how to apply for a Chase business credit card.
While the process is fairly simple, there are a few key differences between applying for a business credit card versus a personal credit card.
Step-by-step, this article will cover what you need to know. “>
How To Apply For A Chase Business Credit Card
You can complete an application on Chase’s website. It’s one application for all business credit card products, but if you are applying for a co-branded business card like United or Southwest Rapid Rewards, then you can add your loyalty program number.
There are two main steps to the application process where you provide your business details and then your personal details.
1. Provide Your Business Details
Here are the business details you’ll need for your Chase business credit card application.
- Legal name of your business. If you are a sole proprietor and the business operates under your name, you can enter your name as the legal business name. But if you have filed with your local government for a DBA (doing business as), you’ll need to enter that business alias here too.
- Public-facing business name. This may be the name that’s on your business card, LinkedIn profile, or website, such as “John’s Dog Walking Services.” This may not be your legally filed business name, but the name your business is known by to customers. This will be the business name that gets printed on your card next to your name.
- Business mailing address. If you don’t have a separate office or business address, you can just see your home address.
- Type of business. Indicate your business structure, whether it’s a sole proprietorship, LLC partnership, non-profit, or other entity.
- Business phone number. This can be your mobile or home phone number if you do not have a dedicated business line.
- Annual revenue. This is how much income your business generates every year before you deduct any expenses or taxes.
- Number of employees. Enter the number of employees your business has. Do not enter zero (0). If you’re the only employee, enter one.
- Number of years in business. If you’re a new business operating for less than one year, enter zero (0).
- Business industry. Choose the category that best describes your business.
- Tax identification number (TIN). This will be your federal employer identification number (EIN), which the government uses to identify your business for tax purposes. If you don’t have an EIN, you can apply for one on the IRS website. Sole proprietors can use their Social Security number (SSN) instead of an EIN.
2. Provide Your Personal Details
This section should be fairly straightforward. Chase will ask you questions about your sources of income from the following sources:
- Regular full-time or part-time employment
- Internships
- Seasonal or temporary work
- Stocks, bonds, dividends, and other investments
- Public assistance
- Spousal support or child support
- Social Security benefits
For a spouse, you can also include their income from employment, internships, and other category sources.
There is also an option to include “money that someone else deposits regularly into your account.” This could mean a parent or partner who regularly provides you with income to pay monthly bills.
Application Detail Tips
- Do not make up a business name for the “legal name of your business.” Your application will likely be denied. If you don’t have a legally filed business name, just use your own personal name.
- Do not make up a gross annual income or sales revenue figure for your business. Even if you only have a few thousand a year in revenue, list that figure. Chase does approve new businesses with little to no income.
- Be honest. Assume that any information you provide will be scrutinized and could require additional verification.
Who Can Qualify For A Chase Business Card?
Any revenue-generating business can qualify for a Chase business card. It doesn’t need to be an LLC, corporation, or particular type of business entity. And there are no specific operational or financial requirements.
As such, even small businesses and contractors can qualify for a Chase business credit card, even if it’s just a part-time gig.
This includes many popular side hustles:
- Freelancing on Fiverr or Upwork
- Driving for Lyft or Uber
- Delivering food or meals for DoorDash, Shipt, or Instacart
- Airbnb rentals
- Flipping used goods on eBay
- Selling goods at farmer’s markets or flea markets
- Walking dogs for Roverr or Wag
- Teaching music lessons
Generating at least some revenue will help your approval, but again, be honest. There are no specific annual business revenue requirements. And if you cannot prove the earning figures you report, your application could be denied.
Chase Ink Business Credit Card Options
Chase has four different Ink card options for small business and performance business credit cards. They come with sign-up bonuses ranging from $750 to $1,250 and varying annual fees and bonus point structures.
1. Chase Ink Business Cash
- Entry-level to mid-level
- No annual fees
- Tiered cash back rates of 1% to 5% based on the spend category
- $750 welcome bonus
- 3% foreign transaction fees
Keep Reading: Chase Ink Business Cash Review
2. Chase Ink Business Unlimited
- Entry-level to mid-level
- No annual fees
- Flat cash-back rate of 1.5% across all spending categories
- $750 welcome bonus
- 3% foreign transaction fees
Keep Reading: Chase Ink Business Unlimited Credit Card Review
3. Chase Ink Business Preferred®
- Large established or enterprise businesses
- $95 annual fee
- 3% cash back on the first $150,000 in annual spending on travel or business category spend, 1% for all other spending
- $1,000 cash welcome bonus or $1,250 for Chase Ultimate Rewards travel
- 0% foreign transaction fees
Keep Reading: Chase Ink Business Preferred® Credit Card Review
4. Chase Ink Business Premier®
- Large established or enterprise businesses
- $195 annual fee
- 2% to 5% cash back for all card purchases based on the spend category
- $1,000 cash welcome bonus
- 0% foreign transaction fees
Keep Reading: Chase Ink Business Premier® Credit Card Review
For any Chase Ink card, you can request additional employee cards. These employee cards, like your primary business card, can accrue Chase Ultimate Rewards points.
Frequently Asked Questions
What is the Chase 5/24 Rule?
The 5/24 rule is Chase’s unofficial rule that limits how many credit cards you can apply for within 24 months and still be eligible for a new Chase credit card.
If you open five or more credit cards from any bank within 24 months, then you would not be eligible for a new credit card from Chase.
Fortunately, for business credit cards this rule generally does not apply. Business credit cards, like Chase Ink, usually will not appear on your personal credit report so they won’t add to your 5/24 card count.
Business credit cards for Discover and Capital One are two notable exceptions as these business credit cards will appear on your personal credit report.
Is it Hard to Get a Chase Business Card?
Qualifying for a Chase business card isn’t hard if you have a good personal credit score and have opened four credit card accounts or fewer within the past 24 months.
There are no minimum revenue requirements, and even a brand-new business may be eligible. You will need to be at least 18 years old and have an EIN if required, or an SSN.
What Credit Score is Needed for a Chase Business Card?
You will need good to excellent personal credit to qualify for a Chase business credit card, which means a FICO credit score of at least 670. A score of at least 700 will increase your odds of being approved.
Can You Get Approved for a Business Credit Card with Bad Personal Credit?
Possibly, yes. There are some decent business credit card options for business owners with less than favorable credit.
For FICO credit scores under 630, there are two options:
- Secured business cards that require an upfront cash security deposit.
- Corporate business cards that do not require a personal FICO credit score Instead, credit card companies evaluate your company’s annual revenue and checking account balance.
Secured options for some of the best business credit cards include the Citi Secure Mastercard, Capital One Quicksilver Secured Cash Rewards Credit Card, or Discover it® Secured Credit Card.
Corporate business credit card options to consider are the Ramp Visa, Brex Mastercard, or any American Express (Amex) Corporate Program card offers.
How Long Does an Approval for a Chase Business Card Take?
You could receive instant approval for your Chase business credit card. This, however, is fairly uncommon so don’t worry if you don’t get an instant approval notification. It does not mean there’s a rejection letter coming.
Additional information is often required to complete your application. This can prolong the approval process by up to 30 days.
What if I Get Rejected for a Chase Business Card?
If you get rejected, contact the reconsideration line to find out why. The number for the reconsideration department is 1-888-609-7805.
Since a hard inquiry was already pulled on your credit report, your credit score can drop up to five points. It’s best to find out why your application was denied before you apply for other credit cards and incur more credit history inquiries – and credit card rejections.
A rep at Chase’s consideration department can provide you with more details about your application. And in many instances, the underwriter can recommend approval.
Do I Need an EIN to Get a Chase Business Card?
You don’t need an EIN in order to get a Chase business card if you have a sole proprietorship. In this instance, you could just provide your SSN as your tax ID.
Chase, however, does recommend using an EIN when possible as it can help you keep your business expenses separate from your personal finances.
Which Chase Business Card is Easiest to Get Approved For?
Beyond the Chase Ink Business Cash and the Chase Ink Business Unlimited cards, the financier’s co-branded rewards program business cards are fairly easy to get approved for.
This includes the IHG One Rewards Premier Business Credit Card and Southwest Rapid Rewards Premier Business Credit Card.
Should You Apply For A Chase Business Credit Card?
The Chase business credit card application is straightforward and relatively uncomplicated. Whether you’re getting your first small-business credit card or a premier card for more robust spending, Chase has many options for businesses to choose from.
You don’t need to have high annual revenue to be considered a qualifying business. Many side hustlers and independent contractors, like Lyft drivers or Instacart shoppers, apply for and receive Chase business cards so they can more easily manage their fuel and other business expenses.
Having a business credit card, separate from a personal credit card, is an excellent way to manage expenses and make tax time a little easier. And if you haven’t applied for five or more credit cards over the past 24 months, a Chase Ink card with attractive benefits and sign-up bonuses may be a good fit.
