Chase Ink Strategy and Business Credit Card FAQ

hey guys it's a passion from a stubby and today we are going to walk through how to apply for trace ink cards as well some strategy that you might want to consider when you make these applications the first thing is that there are going to be three of these ink cards that you can actively apply for right now this is going to be the cash card the unlimited card as well as the preferred card the CSD CIU and CIP the bonus is for these three cards are going to be 50,000 50,000 and 80,000 chase ultimate reward points you can transfer these to other cards like the Chase Sapphire Reserve if you do have those cards or if you have the chasing preferred or the Chase Sapphire Preferred you can transfer directly the chases partners which is what I typically recommends hi it being a very good use case these cards are affected by Chase 524 but they do not add to it this means that if you are someone who is currently at 4:24 then you're going to be able to get this card and you're still going to be at 424 after adding this card but if you add some other card let's say that Bank of America our American Express gold card or pretty much any other card that goes onto your credit report then you go from 424 to 524 and then you're no longer eligible for these Inc cards before I continue let me know down below if you are someone who has ink cards and also which ones you do have and if you liked the video give it a thumbs up the other major thing a lot of people wonder about is whether you can have multiple of these cards main thing is that there are a lot of other chase rules like the one sapphire roll or the one selfless rule and people get it a bit confused because they think that ink cards have the same thing there's no rule like that as of February of 2019 for this for the ink cards so you can technically get all three of these ink cards and get all the bonuses and you're not going to run into any problems for a lot of people they actually do go for all three because 50 plus 50 plus 80 is a hundred and eighty thousand chase ultimate reward points if you add that all up even if you cash that out that's 1800 dollars if you to which words travel almost 4000 dollars in value if you transfer out a partner like I yet these are going to be business cards meaning that you need to have either a business to apply for them or you need to qualify as a sole proprietorship most people if you do anything else that makes money on the side you would technically qualify as a sole proprietor different states are going to have different roles so I'd recommend looking into it specifically for your States but for most people you can apply for a card and you don't really need anything else you do need to apply using the right business name if you are going as are so prop then I recommend using your first name and last name and that's it there are some other states where you can do first name last name and function so Larry Bird training and that's going to be fine but I've heard of people telling me that they run into problems it's just safer doing it as Larry Bird as the business as a so problem even though you can't get all three should you get all three for most people I think you can typically get about one to three business cards without raising any flags you can get more than that's if you have a business that has been around for a while but I would expect a bit more scrutiny rather than people getting just one card for one to three cards are not really going to run into that many problems typically if you're not didn't file if you don't have anything weird on your credit file if you are someone going for three business cards I would typically recommend these three mostly for the bonuses unless you are someone going for selfless companion pass in which case I would probably swap out the chase ink unlimited card for that Southwest card just for companion pass if you are going to apply for business cards what's the best practices what is the best spacing ideally you have one chase card verse to me at least but a lot of people still actually start off with chase business cards as their first business cards so that's not a definite no it really just depends on your credit history so there's not really any fixed answers here for me I'd probably have the freedom card first ever someone early in the game freedom card then add something like the CIC or the CIU depending on which one you like better and then waits one to two months before you apply for the next card given that Chase does not combine hard inquiries anymore officially and make sense to kind of separate these out by a month the shortest amount of time for business cards that is recommended would be about one every month but for most people if you don't have a strong credit file I think that might be a bit too aggressive I'd recommend two or three months between business card applications if you are someone who is aggressively getting chase cards you do want to recognize your income versus or credit limits with Chase they want to give you about fifty percent of your income as total credit limit among all of your chase cards so if you make $100,000 you want to kind of stay around $50,000 a credit limit within all of your chase cards business cards and personal cards meaning that if you are someone aggressively going for chase cards you might want to decrease your limits in order to make approvals easier the big idea here is that you want to be approved by the system rather than have to talk to someone and move credit limits around if you are at hundred K salary and you're currently at fifty thousand of credit limit I would personally decrease my credit limit by five thousand dollars that might be five thousand on one card it might be one thousand on five cards that way you carve out room for them to approve five thousand to you without you having a talk to anyone on that note if you are someone who is interested in learning more about these cards and you want to support our channel pretty easy way to do that would be to use the links on our sites are the links in the description box down below the final thing is what you can do if these trace cards so you can product change them within other ink cards so the CIC can turn into the CI you and the CI you can turn into the CI PR any of these combinations however you want if you apply for the card and you don't get approved immediately then I would recommend waiting the main reason being that you have less scrutiny on your accounts and just less talking oftentimes is better for personal cards you want to call in if you get the notice because you can call the Recon line and get that approved because of accreditation for business cards best practice is to just leave it alone and let it get approved at its own pace hopefully that was helpful let me know if you have any questions my question for you guys is what's been your experience of chase business cards which ones do you have how do you manage them let me and the community know down below if you liked this video give it a thumbs up it really helps us out have you know anyone else who would benefit from what we just talked about feel free to share this video with them because it's probably going to help them out otherwise hope you guys liked it see you guys next time [Music]

Channel: Ask Sebby

Views: 42,667

Keywords: asksebby, ask sebby, who qualifies for business credit card, chase ink preferred, chase ink cash, chase ink cards, best chase ink card, chase sapphire reserve, chase sapphire preferred, chase ink preferred review, chase ink cash review, chase ink vs chase sapphire, business credit cards, why you should get a business credit card, business credit cards explained, chase ink business preferred, how to get a business credit card

Id: S9Ffx0vV1AM

Length: 6min 37sec (397 seconds)

Published: Wed Feb 27 2019