Steps to Successfully Fill Out a Chase Business Credit Card Application

Chase offers some of the top travel credit cards, including the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®. However, they also enforce strict application guidelines, notably the 5/24 rule.

Here’s the scoop: If you've opened five or more credit cards from any issuer in the last 24 months, you're not eligible for a Chase credit card. While this might seem tough, there are strategies to navigate around it. For instance, business credit cards from most other banks won’t show up on your personal credit report, so they won't count toward your 5/24 total. The exceptions include Discover and Capital One, whose business credit cards do factor into your 5/24 count.

Chase’s small-business cards operate a bit differently. These cards won't affect your 5/24 count, but they are still subject to it. For instance, if you've applied for four cards in the last 24 months, your status is 4/24. If you then go for the Chase IHG One Rewards Premier Credit Card, you'll hit 5/24 and lose eligibility for any valuable Chase Ink business credit cards.

However, if you choose to apply for a Chase business card first, it won’t count against your 5/24 limit since Chase business cards do not appear on your personal credit report. This means you could gain approval for the Ink Business Preferred® Credit Card while still keeping the option open for another Chase credit card. Therefore, incorporating business cards into your points and miles strategy is crucial.

Who is eligible for a Chase business card?

Applying for a Chase business card closely resembles the process for a Chase personal card, though there are a few key distinctions. The primary difference is that you must operate a business that generates income. Achieving this may be easier than you think; you don't need a full-time enterprise or a six-figure revenue to qualify for a small-business card.

If you run a business, obtaining a business card is not only a great way to earn additional rewards, but it’s also vital for keeping your business and personal expenses distinct. For example, part-time freelance writers, designers, consultants, or artists can qualify for a business card. Additionally, non-employee gigs like driving for Uber or Lyft, as well as certain food delivery and dog walking apps (such as Rover or Wag), can also be considered eligible businesses.

Steps to successfully fill out a Chase business card application

Let's examine the Chase business card application and pinpoint the details that might cause confusion.

While all Chase business credit card applications share a similar format, if you're applying for a cobranded card—like the Southwest® Rapid Rewards® Performance Business Credit Card or the United℠ Business Card—you'll have the chance to input your loyalty program number. If you choose not to enter one, a new number will be assigned to you, creating a separate loyalty account. This can complicate things if you already have an existing account, as you'll need to merge the two.

Step 1: Provide your business details

Let’s review the initial screen of the online Chase business credit card application.

Here are the details you need to include for each section of your application:

• Legal name of business: If you're a sole proprietor, you can use your own name as the "legal business name." If you've registered a DBA (doing business as) name, use that name here. For any formal business structure, such as an LLC, your "legal business name" will be the entity's name. Important: Do not invent a business name without a DBA; Chase may request verification of your business, and lacking a DBA could lead to a card denial.
• Business name on card: This name does not need to match your legal business name; it will simply appear on the card below your name. You might need to shorten it if it's too long to fit.
• Business mailing address: If you operate from home or lack a formal business address, using your home address is acceptable.
• Type of business: For sole ownership, select "sole proprietor." For two or more owners, choose "partnership." If your business is registered as an LLC, corporation, or non-profit, select the correct category.
• Business phone: You can provide either a home or mobile number.
• Tax identification number: Sole proprietors may use their Social Security number as their tax ID. Otherwise, you’ll require a federal EIN (Employer Identification Number), which can be easily obtained from the IRS.
• Number of employees: Enter the total number of employees besides yourself. If you're the sole employee, put "0".
• Annual business revenue/sales: This represents your total business income before any deductions for expenses or taxes. New businesses may still get approved with minimal income, but having some revenue increases your chances of approval.
• Years in business: If you've been operating for less than a year, enter zero.
• General industry/category/specific type: Select the options that best fit your business description.

Step 2: Provide your personal information

Next, proceed to the second screen of the Chase business credit card application:

Most of the personal information you need to provide is quite simple. If your home address matches your business address, just check that box to avoid re-entering the same details. For your "total gross annual income," make sure to include all qualifying income sources, which, according to Chase, encompass:

• Full-time or part-time employment
• Internships
• Seasonal work
• Interest income
• Dividends
• Social Security payments
• Public assistance benefits

You can also account for any "money regularly deposited into your account by someone else." If you're 21 or older, you may add income from others that helps you cover your bills. For instance, if you share expenses with a partner or spouse, you can combine their annual earnings with yours.

Once you've completed your personal information, you can optionally add employee cards and review the terms before finalizing your application. Near the bottom, just above the "Submit" button, there's a checkbox confirming you've read and agreed to the terms that you need to check.

In summary

Chase's application process for a business credit card is quite simple. As with any credit card application, it's crucial to provide honest information, as Chase may require documentation to verify your details. Obtaining a business credit card is often easier than you might expect, especially since many freelance jobs, independent contracts, and side gigs can qualify as a business.

Business credit cards can simplify your bookkeeping by keeping your business and personal expenses separate. Additionally, they allow you to earn valuable travel rewards. Notably, most business credit cards, including those from Chase, won’t show up on your personal credit report, meaning they won't impact your Chase 5/24 count.

Ultimately, business credit cards play a crucial role in a comprehensive points and miles strategy. If you’ve been hesitating about applying for one, reconsider the income sources outside of your primary job and see if you might be eligible.