🎉 *UPDATE 7.11.2022:* APPROVED for the IHG Rewards Premier Business Credit Card today! 😄🎉 The application was initially pending since last Friday (7.08.2022), so roughly 2 business days of wait time. I logged into my Chase account just now and saw the card w/ a limit of $10,000! Also, no credit needed to be moved from other cards, so this is a net gain 🙌
Hi mark Got the ihg premier with 50000 points bonus instead of 140000+ free night, I've opend case with chase and after reviewing they stick with the 50000 offer I'm thinking of closing the credit card since i haven't use it yet and maybe applying again after one month. Do you think that will effect my relationship with chase
@@tareqalahmed - Bummer. I doubt it would effect your overall relationship with Chase in a negative way, but: (a) it will result in another hard inquiry (b) if you get approved it'll count as another card against 5/24 - that's because closed accounts in the past 24 months still count, and (c) there's a risk of getting denied, then you may not have an IHG card for awhile.
@@tareqalahmed When did you originally apply? was it before or after they made the offer of 140k? Did you not apply for the card with a coupon, or web link directly offering the 140k? This seems like an unfortunate result but I'm just wondering how they justified the verdict of the 50k. Sorry to hear the result brother. Still a decent bonus nonetheless.
I feel like the application videos have been dropping so frequently that it there’s a denial lurking somewhere🤣. You should make a cc journey video with all your credit cards or at lease since you last made a video like that 🤓
Hi Mark, I think you have a very good chance at getting approved for the card. The only two things that I could think of that might result in your application being denied is the amount of credit that you have with Chase is all that they’re willing to extend to you and possibly the number of inquiries. However, you could move credit from some of your existing cards in order to open the new card. They may also be willing to overlook the number of inquiries in a reconsideration call. I was just approved for the personal version of this card on May 18 and it’s my second card with Chase. My approval was not instant, either. However, literally seconds after I got the message “in review”, I got an email saying that I was approved. I honestly thought I would have to move some of my credit line from my other Chase card (Freedom Flex) to open the IHG card based on the amount of credit I have with other issuers, but it was not the case with me. Now I’m pretty confident that I can easily get a third Chase card later this year when I fall back under 5/24. I’m considering the Freedom Unlimited for the 5% back on gas for the first year.
👑 Mark: Giving "sock-drawering" a card a whole new meaning by hiding his credit cards randomly around his kitchen 🤣. What a legend! Hope you get this one, but I dunno, that's a lot of hard inquiries, and I think Chase pulls from Experian, which is where you have the most of them. They can't deny you, though, that would anger a lot of people - including me! Good luck!
I had to wait about 3 days after the application in review for the Chase business cash, great job Mark, remember you're going to get drilled about the type of business you have. I am sure you're ready for that, but for the new people knowing your ish about your business is very important when you call the reconsideration line.
"I'll give this a few more minutes..." 1.2 seconds later "Alright, done waiting 🤳" That cut was excellent! 😂 I wasn't approved right away but thanks to these vids and transparency, my anxiety has been halved until I get the go ahead. I think that your history with Chase should work in your favor.
At this point when you submit new applications, it has me in suspense and on the edge of my seat. You never know what can happen even with calling the reconsideration line.
You will get approved and the only issue you might face IMO your current credit limit with Chase based of your income and spending actions which may ask you to reallocate some of your Chase limit to the new account!!
@@MarkReese I had this experience with Chase business to reallocate some of my brother limit to another one ☝️ and Bank of America when I got approved for Spirit personal CC as I already had 91k and got approved for 14k with Spirit so they had to take $5100 but I did not accept this deal and asked them to approved me for $8900 on the Spirit CC because I don’t spend more than that on flying at ones but they moved my application to risk management department 😂 and asked me about my wealth in general like house, investing in the stock market plus liquid cash so be ready to answer all these questions just in case that you might face similar scenario that matches mine 😂
Awesome RU-vid channel. Thank you for being very detailed on all your channel. I just got approved for the CIHG business card last week. Just to give you an ideal. I am a Registered Nurse and I have a side hustle business teaching CPR and First-aid classes. I have the quadfecta, Chase premiere checking and savings, complete business checking, and the CIBC. Credit score is average 780 amongst the 3 bureaus and a history of 5 years. All that being said, you may lack the Complete Business checking g account if you have not mention that. Keep up the good work and I will keep following you on your credit card adventure
Damn, Marky boy,.. 45 cards? I hope you still have that beautiful Billiard table to setup your 45 cards and do your magic. Man, I have NO doubt you will get approve. As oppose than me that got DENIED for the Barclays Wyndham Business Earner Card a few days ago. The reason for denial was that I am not as GREAT as Marky boy!!! Cheers brother 🍻.
Same thing happened to me when applying for the personal card. The recon line didn't have any information, then 3 days later I received the approval letter. Chase pulled CL from another card to establish the IHG line. 91k income 38,300 CL
Very difficult to predict without knowing your debt-to- income ratio and credit limit-to-income ratio (I figure this is an important factor), which I would totally get not wanting to disclose that info to the internet.
So...you went for that 5th Chase business card. I heard rumors they are comfortable at four and if they like you then MAY BE five. Bold strategy Cotton, let's see how that works out... 🙃
I wonder if calling the business reconsideration line would've given you a different result, because I noticed that the blog had a seperate number for business cards.
Sorry you're having to wait for approval or not due to having a lot of credit. I currently have almost $50k in credit with Chase between 3 personal credit cards in which one is my highest credit limit out of my cards which is $38.5k on an United Explorer card & I've been with Chase for 14 years & currently waiting for "you are already approved" offers they show under the just for you page when you're logged in to your account since I am over 5/24 due to really needing credit when I went through almost 7 years of health issues from Nov. 13 through May 20.
@@MarkReese Thanks. I really want the INK Cash card due to 5% on cell phone. That's why I am waiting for a "you're already approved" offer & if I got denied due to alot of credit or another reason besides too many recent opened accounts I would move credit from my United Explorer card due to my $38.5k limit. I found out from Chase awhile back that they won't be able to move credit to a new card from a current account if you were denied due to too many recent opened accounts.
The one that has the properties you want to stay at 👍 There isn't an objective answer. I'd personally go for Hyatt because it suits my travel style. However, Hyatt is a very small chain with very few hotels compared to IHG, Marriott, Hilton and others. So even if it were "for sure" a better card, if Hyatt doesn't have hotels in the places you want to go, then it won't matter.
Mark, What’s your opinion on a targeted CFU/CFF offer with 5% cash back on gas up to $6,000 in first year of card membership? Pre approved for 14k limit, which would nearly double my overall available credit. I know they are great cash back cards, but I’m also being targeted for the United Explorer with a 70k SUB (I live 25 minutes outside a United hub) which I could then downgrade to the Gateway card after a year if I don’t want to pay the AF to earn 2x miles on gas. What are your thoughts? I like to travel, but also value cash back, so this is tricky for me. I currently have the Marriott Bonvoy Brilliant and the TD Cash Visa.
If you're preapproved, value both cash back & travel rewards, can meet the spend requirements for the bonuses, and if both cards give you good value, then why not go for both 1-3 months apart?
@@MarkReese I was thinking about that. I am just worried about 2 hard inquiries in such a short period of time dinging my score. My inquiry from my Bonvoy card in May 2021 still shows on my report, but I’m not sure it’s affecting my score at this point.
@@nickevans4273 - If you need the highest score possible (e.g. to get a better rate on a car, home, etc.), then it's best not to get any new cars until that's done. If you don't have a need, then a temporary drop in score has no real world implication.
Hey Mark, I’m trying to apply for the Amex business prime card for Amazon. I already have an existing Amex account with gold and plat. I wanted to know if applying for that business prime card would impact my personal credit. I know typically no business card will impact your score but for some odd reasons the videos I’ve seen as well as info I’ve dug up is saying otherwise. Reason I’m stressing is because I’m in the process of buying a house.
Hi Michael - Amex business credit cards do not show up on your personal credit report. Therefore, they do not impact your personal score. The only way they _could_ hurt your score is by getting another hard inquiry, which may temporarily lower your score. However, since you already have an Amex card relationship, a new card will likely be a soft pull (though Amex can still pull your report if they like).
Nope. I had 2 of them in the past. Canceled both. Here's a link to the video about it: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-jc7DyZ7MwYE.html
I opened a capital one quicksilver card and closed it the same day about two months ago. Since it shows up as a hard inquiry, if I get it removed will it affect my credit?
@@arianacastillo1887 - If you get it removed, your score should improve. However, if you yourself opened the account, then the inquiry is justified. Inquiries aren't a big deal anyway.
@@MarkReese also, I opened an Amex plat (schwab version) because I was planning on traveling this year, but now I’m not so sure. So the $700 AF doesn’t make sense. I did some research and if I’m right, I can close it in a year right? I know people downgrade, but I already have the gold as well. If I close it after a year, will I be able to get it again if I wanted in the future?
@@arianacastillo1887 - Several things here... 1. Yes, you can close it after a year and still keep your bonus. 2. You'll need to have at least 1 Amex card open that earns Membership Rewards points in order to prevent the points from being forfeited. 3. The Schwab Platinum Card cannot be downgraded. 4. Yes, you can get the Schwab Platinum Card again in the future, but with no bonus.
