Skip to content

Clearing up the confusion: How to complete a Chase business credit card application

March 25, 2020
8 min read
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Editor’s note: This is a recurring post, regularly updated with new information.

Chase issues many of the best travel credit cards, such as the Chase Sapphire Preferred Card and Chase Sapphire Reserve. But Chase also has one of the more restrictive application rules for its cards — the dreaded 5/24 rule.

Here's how it works: If you've opened five or more credit cards from any bank in the past 24 months, you won't be eligible for a Chase credit card. That's harsh, but there are ways to work around it. For example, business credit cards from most other banks won't appear on your personal credit report, so they don't add to your 5/24 count. The exceptions are Discover and Capital One, whose business credit cards do add to your 5/24 count.

Small-business cards from Chase are a bit of a different animal. These cards won't increase your 5/24 count, but they are restricted by it. For example, let's say you've applied for four cards in the past 24 months, so your count is 4/24. If you then applied for the Chase IHG Rewards Premier Credit Card, you'd be at 5/24 and would no longer qualify for any of the valuable Chase Ink business credit cards.

But if you applied for a Chase business card first, it wouldn't increase your 5/24 count because Chase business cards don't appear on your personal credit report. So you could be approved for the Ink Business Preferred Credit Card and still leave the door open to be approved for another Chase credit card. That's why it's important to include business cards as part of your miles and points strategy.

New to The Points Guy? Sign up for our daily newsletter and join our community for small-business owners.

Who qualifies for a chase business card?

A Chase business card application is very similar to a Chase consumer card application, but there are a few differences. The biggest difference is that you'll need to have a business that earns revenue. That can be easier to achieve than you might realize — you don't need a full-time business or even a six-figure income from your business activities to be approved for a small-business card.

If you do have a business, having a business card isn't just a good way to earn extra rewards — it's also essential to keeping your business and personal expenses separate. For instance, you can qualify for a business card as a part-time freelance writer, designer, consultant or artist. Also, gigs where you aren't an employee, like Uber, Lyft, some food delivery apps or dog walking apps (Rover or Wag) can also be eligible businesses.

How to complete a Chase business card application

Let's take a look at the Chase business card application and go over the information that's most likely to trip you up. All Chase business credit card applications will look the same, but if you're applying for a cobranded business card — such as the Southwest Rapid Rewards Performance Business Credit Card or the United Business Card just to use a few examples — you'll have the option to add your loyalty program number. If you don't add a number, one will be assigned to you and a new loyalty account will be created in your name. This can be a bit of a headache if you already have a loyalty account because you'll end up having to merge the two accounts.

Sign up for our daily newsletter

Step 1: Business information

Let's take a look at the first online Chase business credit card application screen:

Here's the information you'll need to add to each part of the application:

  • Legal name of business: If you're a sole proprietor — meaning your business is just you operating under your own name — you can use your name as the "legal business name." However, if you've filed with your local or state government for a DBA (doing business as) name, you'll enter that name here. Also, if you've set up any sort of legal business structure, like an LLC, your "legal business name" will be the name of the LLC or other entity. A very important note here: Do not make up a business name if you don't have a DBA for it. Chase may ask for proof of your business and if you don't have a DBA under the business name you entered in this field (aside from your own personal name), you'll likely be denied for a card.
  • Business name on card: This doesn't have to be your legal business name because it's just the business name that will be etched onto your card (just below the cardholder's name). You might need to abbreviate the name you enter here because longer names might not fit.
  • Business mailing address: If you work at home or don't have a business address, entering your home address is fine.
  • Type of business: If you're the only owner, then select "sole proprietor." If your business has two or more owners, choose "partnership." If your business is registered as any of the other options (LLC, corporation, non-profit), select the appropriate option.
  • Business phone: This can be a home or mobile phone.
  • Tax identification number: If you're a sole proprietor, you can use your Social Security number as your tax ID. Otherwise, you'll need a federal EIN (Employer Identification Number) which you can easily apply for with the IRS.
  • Number of employees: You count as an employee, so this number will be at least one.
  • Annual business revenue/sales: This is the total annual income of your business before you deduct any expenses or taxes. This doesn't need to be a huge number — some new businesses get approved with little or no income, but if you do have business revenue, it'll certainly improve the likelihood of getting an approval.
  • Years in business: If you've been in business less than one year, enter zero.
  • General industry/category/specific type: Choose the options that best describe your business.

Step 2: Personal information

Now you'll move on to the second Chase business credit card application screen:

Most of the personal information you have to fill out is straightforward. If your home address is the same as your business address, check that box and you won't need to re-enter the same information. When it comes to your "total gross annual income," you want to be sure to include any eligible income which, according to Chase, includes:

  • Full-time or part-time jobs
  • Internships
  • Seasonal jobs
  • Interest
  • Dividends
  • Social Security benefits
  • Public assistance

You can also include "money that someone else deposits regularly into your account" and if you're 21 or older, you can include any income from others that you regularly use to pay your bills. So if you've got a partner or spouse you split the bills with, it's OK to include his/her yearly salary with yours.

After filling out your personal information, you can add employee cards (optional) and review the terms before submitting. At the very bottom, just above the "Submit" button, there's a box you'll need to check to show you've read and agreed to the terms.

Bottom line

Chase's business credit card application is relatively straightforward. As with all credit card applications, make sure you're honest with your responses because Chase may ask for documentation to confirm your entries. Getting a business credit card isn't as difficult as you may think, since many freelance or independent contractor jobs and side hustles can qualify as a business.

Business credit cards can also make bookkeeping simple by helping you separate business and personal expenses. Plus, you can earn valuable travel rewards at the same time. Most business credit cards won't appear on your personal credit report (including Chase business cards), so they don't add to your Chase 5/24 count.

Finally, business credit cards are a vital part of a healthy miles and points strategy, so if you've been on the fence about getting one, take another look at where you make money outside of your normal day job and see if you might qualify.

Featured photo by @criene/Twenty20.

Featured image by Getty Images
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Top offers from our partners

How we chose these cards

Our points-obsessed staff uses a plethora of credit cards on a daily basis. If anyone on our team wouldn’t recommend it to a friend or a family member, we wouldn’t recommend it on The Points Guy either. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners.
See all best card offers

TPG featured card

Best premium travel card for value
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

1 - 10X points
10xEarn 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards®.
5xEarn 5x total points on flights through Chase Ultimate Rewards®.
3xEarn 3x points on other travel and dining.
1xEarn 1 point per $1 spent on all other purchases

Intro offer

80,000 bonus points
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®

Annual Fee

$550

Recommended Credit

740-850
Excellent
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
Best premium travel card for value
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

10xEarn 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards®.
5xEarn 5x total points on flights through Chase Ultimate Rewards®.
3xEarn 3x points on other travel and dining.
1xEarn 1 point per $1 spent on all other purchases
  • Intro Offer
    Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®

    80,000 bonus points
  • Annual Fee

    $550
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    740-850
    Excellent

Why We Chose It

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more