Add Private Credit Card with airSlate SignNow

Add private credit card

all right let's get started today i'm going to share with you how to fill in a small business credit card application for chase bank many people don't realize that business credit cards work a little bit differently than personal credit cards for example many banks do not report your business credit cards to your personal credit report also there's often lucrative sign up bonuses and sometimes zero percent apr on purchases or balance transfers for a year or longer sometimes and some people wonder if they qualify for a business credit card and oftentimes the answer is yes for example if you're self-employed if you have a side hustle if you're an independent contractor if you're a gig worker or let's say you even do something like you're a reseller online for ebay or facebook marketplace if any of those things applied to you then you might qualify for a business credit card however chase bank can be one of the most difficult business credit cards to get especially if it's your first business credit card so i've done a video on how to get an american express credit card that i'll link right here that's a great option if this is your first business credit card the reason chase can be so difficult is they have a 5 and 24 rule and oftentimes they want you to have a relationship with them in terms of banking and credit previously 5-24 refers to if you've applied for five personal credit cards within the past 24 months then chase will decline you for another credit card and that doesn't just apply to chase bank it's across all banks still some of the best business credit cards out there i'm going to flash on the screen right now are the ink line of credit cards or if you're going for the coveted companion pass via southwest the southwest business credit cards so what i'm going to do today is i'll put the application up on the screen right here and fill it in and what you can do is follow along at home and then hit submit and be sure to stick around to the end because there's a couple of other things to consider especially if you don't get approved right away you're not going to want to miss this okay depending on what card you pick for example i have up here the ink business preferred card they do have the option to sign in if you already have a banking relationship with chase and like i said before you should click that if you do because you may have a greater chance of getting approved however if you don't and what i'm going to do for the sake of this video is apply as a guest as you can see here they are going to ask you for personal info first and then business info here you can see a drop down menu for authorizing officer title and this just means what's your business title often times i default or select owner however you can call yourself whatever you'd like up next they are going to ask for your first and last name you can see i type in rich smith here go ahead and fill in your first and last name okay right here up next they are going to ask for your date of birth and they use this with some other personal information to verify your identity here you can see they ask for your mother's maiden name again this is going to be used as some sort of security word that you're going to have to confirm or type in at some point again to verify who you are moving on here they're asking for your social security number again go ahead and put that in even though it's a business credit card they do want to know who you are and who they're giving credit to up next they ask for your street address go ahead and put your home address that's fine especially if you do business out of your home that's going to include your zip code as well so go ahead and write that in for the sake of this application i'll write in a 90210 and you're also going to need your city and state so again the 90210 comes from beverly hills california okay up next they are going to ask for your email address it's okay to just put the email address you use every single day some people worry it has to be a very separate business email address that's not the case up next they're going to ask for your phone number same thing applies just put the phone number that you use every single day now this next part sort of trips people up sometimes they're going to ask for your total gross income and remember this is the personal part of the credit card application so they're asking for your gross income for the entire household that you live in now this can include your w-2 job a seasonal job if you have a part-time job any other types of monies you have coming in from the business even if you have a spouse that money counts too it's your entire household so this amount may be a little bit higher than what your business is bringing in for the sake of this application i'll go ahead and put down fifty thousand dollars and then they wanna know if any portion of that income is non-taxable income that doesn't usually apply you can click that little icon button if you're wondering if it applies to you but for most people you can just go ahead and put no okay and moving on we get to the business information portion of the application right away they're going to ask for the structure of your business now this typically is a sole proprietorship for many single solo entrepreneurs people who basically have their own business and don't have any employees however if you have formed any other type of legal structure then put that i'm going to just put down sole proprietorship and again this next part sometimes gets people a little tripped up they want the legal business name and if you're self-employed if you're a sole proprietorship then your legal name your first and last name is what you put here because that will be your legal business name and along those same lines go ahead and put that exact same first and last name on the desired business name on card please do not put any sort of branding just put your first and last name if you're a sole proprietorship otherwise your application might get flagged and it may not be approved it doesn't mean it won't be approved but i'm just telling you it will be more likely to be approved when those two names match and again this applies to sole proprietorships okay for this next part they ask for your ein or your itin i'm gonna go ahead and just use that same social security number again if you have one of these other two numbers yes you may put it but for again the self-employed that side hustle that gig worker just put your social security number and here they want to know the business's physical address if you're working out of your home yes it is going to be the same address so check yes or if it's not then check now for number of employees go ahead and put one if you have no employees having w2 employees on the books is something you'll be well aware of so answer this accurately but if you just work by yourself and for yourself put one and again they ask for the business phone number so feel free to put that exact same phone number or cell phone that you put previously and here they want to know the date the business was established so be careful here to not cheat yourself a lot of times when you're getting a business off the ground you might start the social media by the website start tinkering with recipes or or getting blueprints ready or documents whatever the case may be your business starts when you started it it doesn't mean it's the date where you started earning income or revenue so just go ahead and think back to the date you started your business but be honest here they're going to ask for your annual business revenue and again be honest in the sense where if it's a brand new business go ahead and put xero if it's business that you've only earned a couple hundred or thousand put that in there they may ask for verification they're allowed to do that in order to process the credit card application most of the time they don't though so i'm just telling you to be honest and straight up with them for the sake of this application i'll put a thousand dollars a month twelve thousand dollars and here this application is a little bit different than other banks like i have my other video on american express they're going to ask for the type of business that you're in and they give you a a variety of business categories to choose from so look through and scroll through this drop down menu here i'm going to put education i feel like these videos are very educational pick what fits for you best and then they want to know even more like the business type so you can let them know in this case they've narrowed it down for me do i work at a school because i picked education or do i just provide some sort of other school and instruction and that is what i'm going to pick for here and then they even go so far as to ask for a business subtype and again i know you may not feel confident here you might feel a little intimidated but just think if you're selling something if you're providing a service and try to pick accordingly i'm just going to put instruction because these videos are very instructional and i think that fits best and this is something that they've started to do a while back they're going to ask for your estimated monthly spend for example they're not going to give you a credit limit of let's say 25 000 if you tell them you're only going to spend 500 a month but if you know you're going to be making some larger purchases for example if you're just getting your business started or you have some sort of project or purchase order to fulfill be honest with them and project that out and divide it by 12 months for the sake of this application i'm going to put down 500 that's about 6 000 a year do whatever you think would be accurate for your business and then they ask you if you'd like any employee cards but again if you only put one employee just put no for this and then they have some big long terms and conditions one of the things i mentioned in a previous video is yes the terms and conditions say that your purchases should be for business products and services and purchases only there's not really a way for them to check that but you are supposed to agree to that so go ahead and check this box here that you've read and agreed to the above and then the last thing to do is hit submit okay if you made it this far in the video congratulations on filling in a chase bank small business credit card application now depending on the screen that you get at the end you may have been approved right away that's very uncommon by the way so don't feel bad if you didn't sometimes they just say they need more time to process your application that's usually what most people see and then sometimes unfortunately they do deny your application so a couple of suggestions if you're approved just do nothing and wait in the mail sometimes it could take up to 10 or 14 business days for the new card to arrive and then just make sure you know what your signup bonus is and spend the appropriate amount in that amount of time now if you are somebody they got one of those windows that says like they need more time i would just hold off and let the computers do their thing for example there might be a chance that they approve you again chase is a little tough on these applications especially lately but there's also a chance that they might deny you however there is a reconsideration line literally a number you could call and i would wait to call that until you get notification in the mail about whether you were approved or not this way if you're not approved you have a second opportunity to call someone and sort of plead your case maybe they need some additional information from you maybe they're going to ask you to provide them with some business documents it just depends on who you get on the phone along those same lines if you are denied you can also call that reconsideration number and when you call try to get a feel for what the vibe is with the person you're speaking with some people are going to be very helpful and they just need that additional information to approve this credit card for you other people you can kind of tell they're not really willing to work with you so at that point you can just say okay thank you hang up and maybe call back in a little while all right let's wind this thing down hopefully you are successful in opening up this business credit card world to yourself i'm telling you it's a game changer not only can you have balances that are separate from your personal credit cards there's also lucrative rewards and sometimes that zero percent apr personally our two favorite cards in this household would be that inc business preferred card and then the southwest card that gets you the companion pass we've had that for probably the past six years and my wife and i just trade off and on of who's getting the companion pass every two years all right if you like this kind of video please let me know down in the comments again sometimes these tutorials can be a little dry so i really appreciate your feedback if you found it helpful also please be sure to like this video and if you are new hit subscribe and ring that notification bell it's interacting with you down in the comments and seeing those subscriber numbers grow week after week that really keeps me going so thanks by the way i am now offering the ability to book a personal one-on-one consultation call with me if you need help with some sort of money problem or youtube problem feel free to check out the link down in the description if you want to talk to me and finally our facebook group just continues to grow if you're interested in joining please know that you can help craft exactly what this community is going to look like moving forward and we'd be happy to have you all right as always i'm rich and until next time you