How to Apply for a Chase Small Business Credit Card – Before you apply for a Chase small business credit card, you’ll need to meet certain eligibility requirements and have some basic information about your business available.
If you don’t, you could find yourself denied – which means you won’t get the card and will have wasted valuable time. We’ll explain exactly what you need to do to make sure that doesn’t happen and show you where to go to get started on your application online or in person at one of the branches of any Chase bank or credit union.
Step 1: Determine if you are eligible for a Chase Bank Credit Card
In order to apply for a Chase small business credit card, your business must meet a few eligibility requirements. First, you must have been in business for at least one year. Second, your business must have annual revenue of at least $25,000. Third, you must have a good personal credit score. Fourth, you must be a United States citizen or permanent resident. Fifth, you must be 18 years or older.
Step 2: Determine your Business type
There are four main types of business structures in the United States sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. The type of business you have will determine which steps you need to take in order to apply for a Chase small business credit card. If you’re not sure what type of business structure your company falls under, contact your state’s secretary of state office or consult an attorney. A partnership is a business that has more than one owner who shares responsibility for running the company. Partnerships may be organized as general partnerships, limited partnerships, joint ventures, etc. In any partnership, all partners share equal ownership interest in the business.
Step 3: Determine your Business net worth
Your business net worth is the sum total of all your business assets minus any debts and liabilities you may have. To calculate your net worth, simply take your total assets and subtract your total liabilities. This will give you your business equity. If you have a positive net worth, this means your business is in good financial health. A negative net worth indicates that your business owes more money than it is currently worth. For example, if your business has $5,000 in assets but also has $10,000 in debt, then your net worth would be -$5,000. For most businesses with under-average credit scores and poor personal credit histories (if applicable), this is usually not an issue because they are often able to establish their own credit history when they apply for loans or lines of credit from different banks or lenders.
Step 4: Submit an Application to Chase Bank
To apply for a Chase small business credit card, you’ll need to fill out an application form at Chase bank website online or offline at any Chase bank branch. The form asks for basic information about your business, such as the name and address of your business, your contact information, and your tax identification number. You’ll also need to provide financial information, such as your annual revenue and average monthly expenses. Once you’ve completed the application, you’ll submit it online or by mail. Your application will be processed in 2-3 days if submitted online and 5-7 days if submitted by mail. If approved, your card will arrive in the mail within 7-10 days after approval.
Step 5: Contact your local Chase Bank branch
If you’re not sure which business credit card is right for you, contact your local branch and ask to speak with a small business banker. They can help you decide which card makes the most sense for your business. And if you have an existing relationship with them, they might be able to offer a special deal on opening up your first account. Once you’ve got the perfect card in mind, all that’s left is submitting an application online or in person at your local branch!