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Questions about applying for a Chase Ink Preferred Business credit card

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Simple question:
I have an old Chase Ink no-fee card that I use fairly regularly for gas purchases (3x points). I got it years ago before starting an actual business and used my SS# and a silly name (Vandalay Industries). I want to get a Chase Ink Business Preferred Card for the 80,000 bonus Ultimate Rewards points. I currently have a sole proprietorship with an EIN, business checking account, county business license, etc. But it's just a seasonal side business ~5,000 in revenue per year. I'm the only employee. Only had the license/EIN for 2 years. It's essentially called Joe Sixpack Widget Service. What do I need to know about my chances getting a Chase Ink Preferred Card with that info about my business on my application?

More complicated questions:
My wife has a Flying Blue (Air France) frequent flyer account with 40,000+ miles we would like to use up for a trip soon because she no longer flies for work. You can only transfer Citi Thank You (TY) or Chase Ultimate Rewards (UR) points to Flying Blue if you have a premium (annual fee) card. The Chase Ink Preferred Card fits the bill. BUT, you can only transfer UR points into a Flying Blue account if the Credit Card account holder's and Flying Blue account holder's names match. So... could my wife apply for the Chase Ink Preferred in my business's name? If she can't the way I currently have the business set up, is there anything I could do that would allow her to apply for it in my business's name?

If this won't work, I'll probably just have her apply for the Chase Sapphire Preferred (CSP) or Citi Thank You Premier. But since those are only 50,000 bonus points, I'd rather go for the 80,000 points on the ink card if possible. I suppose the long term play would be to have her apply for the CSP, and then I apply for the Ink Card and I transfer my points to her. The only problem with that is that it will take a while since we would only be able to do the initial spending of several thousand $ to meet the bonus req one at a time, and the 80,000 point Ink bonus might be gone in a few months. Your overall thoughts?

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rated:
Not sure any advice on the existing card with fictitious business name. That seems weird and like credit fraud (not commenting on low odds of anything coming from it.)

If your credit score is good and under 5/24, odds are very high. (Likely automatic approve). Chase cares not about yearly revenue.

I got the ink plus auto approval with $18k limit (old vers with 5x) <2yrs ago as sale prop with 1k listed as expected revenue.

No comment on transferring and i haven't used air France. Quick search showed up 1.2 cent value (dunno if accurate, could be way off).  In which case, opening your own CSP and/or CSR to transfer to (and booking through Chase portal) may be equal or better return.  Or transferring to other partners if worth more.  (Southwest is generally 1.5cent/point value)

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Bend3r said:   Not sure any advice on the existing card with fictitious business name. That seems weird and like credit fraud (not commenting on low odds of anything coming from it.)Fraud is a strong word and definitely isn't the right word to use here. When you sign up for a business card with your social security number (and even an EIN most likely), it doesn't matter what business name is on it. As long as you pay for what you charged, the credit card company doesn't care if you put Berkshire Hathaway on the card. The credit card company puts the business name on it as a courtesy.

If your credit score is good and under 5/24, odds are very high. (Likely automatic approve). Chase cares not about yearly revenue.

I got the ink plus auto approval with $18k limit (old vers with 5x) <2yrs ago as sale prop with 1k listed as expected revenue.
Awesome, this is what I wanted to know. Is there anyone else that can confirm this is the case?

No comment on transferring and i haven't used air France. Quick search showed up 1.2 cent value (dunno if accurate, could be way off).  In which case, opening your own CSP and/or CSR to transfer to (and booking through Chase portal) may be equal or better return.  Or transferring to other partners if worth more.  (Southwest is generally 1.5cent/point value)
Yeah, the only reason we are interested in transferring to Flying Blue (Air France) is because of the 40,000+ points she already has there. Other than what is needed for whatever free flight(s) we decide to take, the UR points will likely be used through the Chase portal. There are some really good value redemptions with Flying Blue though that we are considering. They consider Hawaii and Aruba as part of North America and charge the same number of points as any other US flight.
  

rated:
meade18 said:   
Bend3r said:   Not sure any advice on the existing card with fictitious business name. That seems weird and like credit fraud (not commenting on low odds of anything coming from it.)
Fraud is a strong word and definitely isn't the right word to use here. When you sign up for a business card with your social security number (and even an EIN most likely), it doesn't matter what business name is on it. As long as you pay for what you charged, the credit card company doesn't care if you put Berkshire Hathaway on the card.
  

  Well that's partially accurate.  You can put your own name of you're sole prop.  You can put a dba if you're dba.  You can maybe put any other name you're doing business as (non dba).  You cannot put Berkshire Hathaway or another existing business you're not authorized by to obtain credit.  You also cannot put a completely fictitious name that you never intend to do any business with - this is clearly providing false information to obtain credit, although proving intention might be another matter.  On the application it's clear you must be authorized to seek credit by the business.  For sole prop, that authorization comes from yourself.  For Berkshire Hathaway, it does not.

Chase has also become more "proactive" in verifying business details.  They erroneousely changed the business name on one of my accounts from my name to the name of my parent's defunct business - just based on my past address.  I had to call in to change it back.

rated:
Bend3r said:   
meade18 said:   
Bend3r said:   Not sure any advice on the existing card with fictitious business name. That seems weird and like credit fraud (not commenting on low odds of anything coming from it.)
Fraud is a strong word and definitely isn't the right word to use here. When you sign up for a business card with your social security number (and even an EIN most likely), it doesn't matter what business name is on it. As long as you pay for what you charged, the credit card company doesn't care if you put Berkshire Hathaway on the card.
  

  Well that's partially accurate.  You can put your own name of you're sole prop.  You can put a dba if you're dba.  You can maybe put any other name you're doing business as (non dba).  You cannot put Berkshire Hathaway or another existing business you're not authorized by to obtain credit.  You also cannot put a completely fictitious name that you never intend to do any business with - this is clearly providing false information to obtain credit, although proving intention might be another matter.  On the application it's clear you must be authorized to seek credit by the business.  For sole prop, that authorization comes from yourself.  For Berkshire Hathaway, it does not.

  
I think you are missing my point. Back when I applied for that card, the only question they asked me about my business was the name. They didn't ask for number of employees, annual revenue, and didn't even require an EIN. The name was meaningless to them, because the credit was tied to me. I literally could have put Berkshire Hathaway on the app and it probably would have been printed on the card. They wouldn't have read "Berkshire Hathaway" on the application and given me a $100,000,000 credit line. There was no "false information to obtain credit" because I wasn't obtaining credit in Berkshire Hathaway's name. Just the same way I wasn't obtaining credit in the name of George Costanza's fictitious business when I got "Vandelay Industries" printed on my card.

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OP I'm not saying you're wrong, committing fraud, etc, but it is important to be 100% correct on credit apps. If Chase ever asks you for your DBA documents as part of a Financial review what's your answer?

The safest way to apply for a Business card w/o a DBA is to put your name as the name of the business. The only exception might be if your business is "Your Name XYZ" where XYZ is the service you provide. "John Smith Accounting" for example might not need a DBA.

Authority:I have plenty of Magazine subscriptions sent to me, the CEO of Vandalay Industries, so I believe I'm technically your boss.

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Stubtify said:   OP I'm not saying you're wrong, committing fraud, etc, but it is important to be 100% correct on credit apps. If Chase ever asks you for your DBA documents as part of a Financial review what's your answer?

The safest way to apply for a Business card w/o a DBA is to put your name as the name of the business. The only exception might be if your business is "Your Name XYZ" where XYZ is the service you provide. "John Smith Accounting" for example might not need a DBA.

Authority:I have plenty of Magazine subscriptions sent to me, the CEO of Vandalay Industries, so I believe I'm technically your boss.

  
I guess I would say that the business folded after I went to jail for laughing at a fat guy while he got mugged.

But as far as fraud is concerned, doesn't there has to be someone defrauded? In this case, there isn't. It's simply a name on a credit card. Chase doesn't depend on the name and neither do the merchants I use to buy things from. Sure, they could close my account because I lied on the application, but how often does that happen when you pay all your bills on time? Has anyone ever been criminally charged for lying on a credit card application when they simply used the credit card as the credit card company intended them to for 5 years and paid on time every month?

Authority: I once pretended to be an architect.

rated:
I can't comment on your fraud point--IANAL but the liklihood that anyone would go after you for fraud as long as you PYBDB is probably near zero.

But let's say some day you want to be a city planner instead of an architect. Isn't it better to have everything squared away in case your dream comes true and you need to go back to Chase for more Susan Ross Foundatation scholarship money?

rated:
Stubtify said:   I can't comment on your fraud point--IANAL but the liklihood that anyone would go after you for fraud as long as you PYBDB is probably near zero.

But let's say some day you want to be a city planner instead of an architect. Isn't it better to have everything squared away in case your dream comes true and you need to go back to Chase for more Susan Ross Foundatation scholarship money?

  
Good point. If I decide to get the Chase Ink Business Preferred Card, I will consider changing the name of the business on my original Chase Ink card to the actual name of my current real business.
But I probably won't because that old Ink card is grandfathered in to some nice rewards categories and I'm afraid of losing them if I contact customer service about that card at all. My friend also had a positive experience using their warranty coverage when his Commando 8 air conditioner fell out of his apartment window.

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As long as you're specific about the nature of the import export business focused on this and that, you should be fine!

Chase Ink does adhere to the 24/5 rule.

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