As a business owner, you want a credit card that maximizes rewards on your frequent purchases. With multiple cards for different types of businesses, the Chase business credit card has your back.
Chase’s suite of business credit cards stands out for their lucrative bonus categories, valuable travel perks, strong account management tools, and integration with the flexible Ultimate Rewards program.
Explore the process of applying for the ideal Chase business card for your company’s expenditures and goals. Review eligible business types, documentation you need, which cards offer the most value, and get approval. With a Chase business credit card, you consolidate purchasing, simplify accounting, earn points or cashback on every employee meal and client meeting, and manage your card anywhere in Chase’s mobile app.
While running a business keeps you busy, the right card from Chase makes finance management easier so you can focus on growth.
SUMMARY
- Analyze your spending
- Select the ideal card
- Check eligibility
- Apply
- Submit and await approval
Recap
1. Analyze your spending
To get a Chase business credit card, analyze your spending. Before applying for a Chase business credit card, take time to closely analyze your average monthly spending. Break down purchases by category to identify where your business dollars go.
Gather a few months of bank and credit card statements. Go through line-by-line and bucket expenses into categories like:
- Travel – Airfare, hotels, rental cars, trains, taxis, ride shares
- Office supplies – Stationery, printers, computers and electronics, furniture
- Shipping & advertising – Postage, parcel delivery services, digital ads
- Professional services – Legal, accounting fees, consultants
- Retail purchases – Inventory, materials, merchandise for resale
- Meals & entertainment – Restaurants, events, employee team activities
Tally up totals by category. The ones with the highest spending are prime targets for cards with bonus rewards in those purchase types. If travel dominates, target a travel perks card. High office supply spending suits a card with extra points for vendors.
Let your real expenditures guide which Chase card optimizes your rewards earnings potential. Analyzing spending reveals where to maximize category bonuses.
2. Select the ideal card
To obtain a business credit card, select your ideal card. Chase offers a suite of business card options, so use your spending analysis to guide which card maximizes rewards for your purchases.
For example, the Ink Business Preferred provides 3x points on travel, shipping, internet, phone, and advertising – all potentially high-spend categories. With its large welcome bonus and $95 annual fee, it suits businesses with significant expenses in those areas.
Or the no-fee Ink Business Cash Card provides 5% back on up to $25,000 spent annually at office supply stores, internet/cable bills, and phone service. It’s ideal for offices with steady supplies, telecom, and internet costs.
For restaurants, the Ink Business Unlimited card’s unlimited 1.5% cash back on every purchase is hard to beat given the frequent outlays.
Examine the bonus earn rates and remember rewards are most valuable when they match the top spend categories, your budget, and business goals. Focus on the card with the best fit, not just the fanciest name.
Check if you qualify for an employee card bonus offer too – some provide extra points for adding employee cardholders.
With so many choices, selecting the right Chase business card takes research. But the ideal option unlocks serious reward potential.
3. Check eligibility
To have a Chase business credit card, check if you’re eligible. Before applying, double check you meet Chase’s eligibility requirements for business card approval:
- Personal credit – Chase Bank generally looks for good credit (690+ score) in evaluating your application. Check your reports and optimize your score beforehand.
- Time in business – You’ll need at least 2 years of operation.
- Revenue/expenses – Chase bank officials want to see substantial financial activity, though no specific minimum revenue. Be ready to prove this through tax returns or bank statements.
- Existing relationship – Having a current Chase checking account or previous loan helps your approval odds.
Also be aware of Chase’s “5/24 rule” for credit card applications, meaning you can’t open 5+ new accounts in the past 24 months. Try to stay under this threshold.
Importantly, don’t overstate your business’s financial details on the application out of desire for approval. Accurately report your annual revenue and other metrics. Exaggerating may prompt verification requests you can’t satisfy.
Meeting eligibility criteria like sufficient time operating, strong personal credit, and reasonable revenues provide the best shot at getting approval for the ideal Chase business card.
4. Apply
To get a new Chase business credit card, apply for it. The application process for a Chase business card is straightforward if you prepare with the information handy:
- Have your personal details ready like name, home address, SSN, date of birth, and annual income. Chase business cards require a personal guarantee.
- Know your business’s legal name, address, tax ID number (EIN or SSN), number of employees, and annual revenue amount. Estimate conservatively.
- Identify your business structure. Options include sole proprietorship, LLC, S-corp, C-corp, partnership, etc. This determines whose SSN it is.
- Use your name/address for the business info if you’re a sole proprietor. List your personal and business income (annually).
- Enter all details accurately throughout the online application, whether you’re applying as an individual or a larger corporation.
- Carefully review all disclosures and terms before accepting the card agreement electronically.
- Consider adding employee cards to hit spending minimums for bonuses faster. But now you’re liable for their charges.
Having your personal and business tax IDs, addresses, legal structure, and financials handy allows you to complete the entire application smoothly. Take your time providing accurate details. Call the Chase customer care if any questions arise!
>>>PRO TIPS: How to Get a Credit Card With Fair Credit
5. Submit and await approval
To acquire a Chase business credit card, submit your application and await approval. Once you complete and submit the online application, here’s what to expect:
- Chase will immediately provide a real-time decision for applicants if you don’t; your application requires a manual review.
- If you get an instant approval, your new card ships within a week and arrives within 10 days. Activate it immediately upon receiving it.
- If your application requires further review, a pending notification means a decision will come in within 2 weeks typically.
- Check the application status line for updates if pending. Provide any additional verification items Chase requests.
- If you get an approval after manual review, wait 7-10 days for your card just like instant approvals.
- If Chase denies, you’ll receive a denial reason by mail. Call recon for appeal options if you believe the reason is incorrect.
- Once you receive approval, register for online account access to manage your new card, make payments, view statements, and redeem rewards.
- Don’t hesitate to call Chase with any account questions. Check spending power, confirm rewards, or just get assistance with transactions.
With an accurate application and a bit of patience during underwriting, getting up and running with your new Chase business credit card is smooth and simple.
>>>GET SMARTER: How to Properly Use Credit Cards
Recap
To get a Chase Business Credit Card, start by analyzing your business spending to identify the most suitable card. Choose from Chase’s range of business credit cards depending on your expenses and goals. Ensure you meet the eligibility criteria, such as good personal credit and at least two years in business. Apply online with all necessary personal and business details and review the card agreement before accepting. After submission, await a decision and if you get approval, activate your card upon arrival. Manage your account through Chase’s mobile app and enjoy the rewards and perks for your business needs.
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