Chase Business Credit Card Approval Loophole

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I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.

[legacyrydeshare]

Step 1: Open a business checking. Deposit weekly.

Step 2: Put recurring company bills on debit card. Do this for 3-6 months.

Step 3: Apply for business credit card. Switch recurring payments from debit to credit card.

Step 4: Reminder to continue the deposits and swipe debit card 10-15 times per month for purchases.

Step 5: Apply for loan or line of credit / Congratulations.
This is what seasoning looks like.

[sjagain]

A "one time" deposit is the problem. Credit companies want to see regular deposits into the checking account, and they want to see activity other than deposits.

[mikewilliams]

I haven't done this with Chase, nor have I on the business side, but did deposit $10k+ and after 3 months applied for an increase on my personal and went from $6k to $15k immediately. I knew i should've tried at least $25k- next time. Just wanted to share.

[lewis]

OK, I just opened up a Chase business checking account, I have about $2500 in it, now I am going to up it to at least $10K before applying for more ink business cards you very much.

[jwanders]

Good points about relationship banking. However my experience has shown that you can get approved for business credit cards with good personal credit and good stated income regardless if you have bank accounts with those institutions. I have business credit cards with AMEX, Chase, and PNC, and I don’t have a single dollar in a deposit account with them. Even though I have deposits with Bank of America, I believe that I would of still gotten their business credit card without the deposits. Wells Fargo might be an exception. I previously did not have an account with them and got rejected for their cards. However after I opened business accounts with them, I eventually got an automatic credit card offer from them in the bank. It may have even been a soft pull. I would rather take the $10, 000 to $15, 000 to start a business.

[horsemen]

you have to leave the funds in the account to maintain monthly balance or incur the monthly bank fee

[FREQKO]

5/24 rule - regardless to how much you “season” chase. Maybe another bank but definitely NOT CHASE.
fyi

[anthoni]

Why would I take the money out? Don’t I need it to FUND my business? Or am i FUNDING it with the credit I have with chase, and I just send the money I pulled out back to chase whenever I need it payed off.

[mo]

It doesn't work this way whatsoever, You're speaking about applying for an unsecured business credit card where approval is primarily based on the individual's personal credit score. The deposit account is almost a non-factor in card approval(98% of the time).

[Seachange]

Do I need a business bank account to get the business cc?

[CoachTheGhost]

How long should u wait to apply for that credit card after opening the account though?

[PERRYDASILVA]

That's not even all necessary to apply for a business credit card with Chase. You need to get one of their personal credit cards, be in good standing, and then apply for their business credit card.

[ItsFranklin]

How long do you let it sit before applying??

[rendellbaldwin]

Thank you! I've been trying to figure out how to do this strategy. I've been wrecking my brain for about two months. You're a life saver!

[mbmb]

How long would you let it sit before trying to get a business account

[stephenmathis]

I did this exactly with Chase. I got the Business Ink but the one for points which was dumb. I did get approved for $11, 500. Now I will re check if i can get the 0%. Make sure to freeze your transunion so they only try your Experian and not pull on both. Or vice versa. If they want both to approve your they will let you know, but if you can save yourself the hardcheck on both it's worth it. Its a business hard pull so you can get it off later, but again- still a pain.

[AnthonyVenture]

What would the difference be if I decided to take $15, 000, split it into 3 parts, put $5000 into Chase, Wells Fargo, BOA and then open business cards for those banks as well.

Granted, all of the 0% interest lines will expire at the same time but if it’s about establishing the relationship, wouldn’t this suffice?

[davedesigns]

Great haircut and beard!!.you LOOK AMAZING with a beard!!! Best look on you indeed

[Sedavis]

but where do you get the 10k to even start?

[LooseJointhiphopdance]

How long will you let it sit there before applying for the business funding? I have been banking with chase for 8 months and have been averaging 3, 000-3, 500 a month with a lot of activity going in and going out of the account. Do I still add the 10, 000 before applying or am I already good to apply?