Applying For Ink Business Card As A Sole Proprietorship? Do This!

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At the moment we’re seeing an increased sign-up bonus on the Ink Business Cash℠ Credit Card, which is the best offer we’ve ever seen on the card. If you don’t have this card but are eligible, I can’t recommend applying for it enough.

Currently the card is offering a sign-up bonus of 50,000 points, which is much bigger than the previous bonus of 30,000 points. Best of all, the card is extremely lucrative long term, thanks to the fact that it has no annual fee and offers great bonus categories, including:

  • 5x points on the first $25,000 of combined purchases per account anniversary year at office supply stores, and on internet, cable, and phone services
  • 2x points on the first $25,000 of combined purchases per account anniversary year at restaurants and gas stations

In conjunction with a card like the Chase Sapphire Reserve® Card, points earned on this card can be converted into Ultimate Rewards points that can be redeemed for 1.5 cents each towards a travel purchase, or be transferred to an airline or hotel partner.

Keep in mind that you’re eligible for this card even if you have the Ink Business Preferred℠ Credit Card (which has the best sign-up bonus of any credit card out there right now, in my opinion), and that even sole proprietorships are eligible for the sign-up bonus on this card, so you don’t need an incorporated business to apply.

I’ve written in a separate post about how to fill out the applications for Chase business cards, which should hopefully be useful for anyone who hasn’t applied for a Chase business card before.

Anyway, on a recent post about the Ink Business Cash℠ Credit Card, reader Robert left the following comment, which I figure is worth passing on:

Applied for the card and was denied. In the past this issue hasn’t affected me but you need to note it. According to the lending dept at Chase, for sole proprietorship, the business name MUST match the cardholder’s name. Amusing that I’ve been previously approved for the Ink Biz Preferred card with mis-matched names and now they restrict it. I was instructed by the lending dept to submit a new application, same pending result. Called the lending group back again, this time the CSR seemed to actually know what he was talking about, he told me the new app was not necessary and that he’d just change the biz name on the first one, he got it approved. Then next hassle was calling the regular support line and getting the new card expedited. All done except that these delays prevented some actual biz purchases I needed to make 🙁 Chase really knows how to make things difficult…

I’ve always recommended that if you have a sole proprietorship just using your name as the business name, though I wasn’t aware this is a strict requirement, though it seems like it is. So if you are applying for a Chase business card as a sole proprietorship, make sure that the applicant’s name and the business name match exactly.

If you’ve applied for the Ink Business Cash, what was your experience like?

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Comments

  1. I am not seeing the 50K points, only the $500 cash back after $3K spend with the Chase Ink Business Cash card. Am I missing something?

  2. Yep, I was missing something. Expanded the terms and they seem to think getting $500 cash back is a better deal than 50,000 points. LOL.

  3. Any reason to keep this one and the Ink Business Plus that I’ve had for a few years? It that also gets 5% at office supply, etc but has an annual fee?

  4. Never had a problem with getting biz cards from Chase but I have with BofA. BofA wanted a copy of my business license and last two years tax returns. They ultimately denied me and one reason they gave was that my last name on the business license was different than my current legal last name. I simply never bothered to update it. They told me to reapply and be sure my business name matches my current legal name. When I applied I gave my current legal name as my business name which I have done on every business card application without issue ever before. Side note: I had just paid off my mortgage with BofA so coincidentaly getting approved for credit cards suddenly became much harder with them. Coincidence? I’d love to know!

  5. @debit Yes that is correct this card is subject to 5/24 meaning you will not get approved if you have 5 new accounts on your credit score in the last 24 months. However, Chase business cards usually do not show up on your credit score, so getting this card will not impact your 5/24 position.

  6. My experience was quick and painless. I filled out correctly as my friend works for Chase. It was initially denied for up to 30 days but I called right away and a few minutes later it was approved. I had the card expedited so I can pay my rent on it. Even though there is a $25 fee it will help me meet the spent easily

  7. @Lucky, do you know if Chase is making it harder to get their business cards nowadays? I just referred a friend to sign up for this card as a Sole Prop. She indicated on her appl revenues about $10k and Chase and requested her to submit proof of earnings, business registration (hello Sole Prop.!). Any of your readers having similar issues with Chase?

  8. I applied a year or two back using my business’s legal name and had to bring the articles of organization into a chase branch for them to review before the application could be approved. Took probably 15-20 minutes altogether.

  9. @Lucky. After pestering you and the OMAAT forum several times over the past 2 months, a week ago I applied (through your links :-)))) for the Ink Preferred (got approved immediately), and next day for the Ink Cash (got a “we need more time” message). Based on your and others’ experience, I waited a week, and today called the regular Chase line to enquire what cards do they see under my name. The rep was nice and told me that she saw 4 cards, gave me the last 4 digits of each, so I knew I got approved for the Ink Cash as well. The Ink Preferred arrived today.
    So thanks again for the advice to apply for both.

  10. I just got approved for the Ink Business Preferred last month, and I applied as a sole proprietor with the name of my business, not my own name. In fact, I was also over 5/24 at the time (I’m now under it), but prior to applying I contacted Chase and asked them if I could have an exception so that I could get the card. It’s my first Chase business card, and I already have the Marriott personal, the Amazon Prime, and the IHG card. But yeah, nothing was ever said about my business name conflicting with my real name, and I was approved just fine after sending them documentation confirming my business address and EIN. Maybe the key is having a valid EIN from the IRS?

  11. I did the Ink Preferred app in the branch with a business RM. 100k UR sign-up bonus. NOT subject to 5\24 (I have way over 5 cards in the past 2 yrs). I applied as a sole prop aka my own name. App was approved.

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