How to Apply for a Chase Business Credit Card

If you have a small business, you don't want just any new credit card. You want the features and rewards you can get with a business credit card. And Chase offers some of the best business credit cards we've seen.

Business credit cards function much in the same way as personal credit cards do for things like making purchases and earning rewards. However, there are some key differences when it comes to qualifying and applying. Here, we'll touch on some of the best Chase credit cards, as well as how to apply for a business credit card.

What you need to know about Chase business credit cards and the 5/24 rule

If you want to apply for a Chase business credit card, you need to know about the Chase 5/24 rule. This rule says you can't be approved for a Chase credit card if you've opened five or more credit cards in the past 24 months.

Unfortunately, all of Chase's business credit cards are subject to this rule, so if you have opened more than four accounts within the past two years, you'll have to wait before you can apply.

The good news is that while you need to be under the 5/24 limit to be approved for a business card, they don't count against your limit once you open the new account. That's because Chase reports business credit cards to the commercial credit bureaus, rather than consumer credit bureaus -- in other words, they don't show up on your personal credit report.

Can anyone apply for a Chase business credit card?

If you're hoping to apply for a Chase business credit card, the requirements are much less strict than you'd think. While you need an eligible business, there are no size or structure restrictions so even sole proprietors and contractors can qualify.. This even includes all of these popular side hustles:

• Driving for Uber or Lyft
• Selling things on Etsy
• Reselling items on eBay
• Selling things at craft fairs, farmers' markets, or flea markets
• Freelancing
• Airbnb rentals
• Doing nails or hair out of your home
• Flipping used furniture
• Babysitting and tutoring

While having some amount of revenue will help you get approved, Chase doesn't have any specific income restrictions on its business credit cards; Don't lie about your business's income on your application; you may be asked to verify any information you provide.

Why you should apply for a Chase business credit card

Business credit cards are a great way to separate out your finances, whether you're running a full-scale business with employees or simply selling stuff on eBay as a side gig. (You can do this with a business checking account and debit card as well, but using a business credit card can help you build business credit and avoid monthly maintenance fees.)

The fact that business credit cards don't show up on your personal credit history is a plus, since your business expenses won't impact your personal utilization rate. Additionally, building your business credit will prove useful if you ever want to take out a small business loan or get business insurance.

On top of that, Chase business credit cards are particularly desirable as rewards credit cards. For one thing, several Chase business cards offer very useful rewards categories, including business-centric bonuses on things like office supplies and telecom. Additionally, the best welcome bonuses Chase offers tend to show up on its business credit cards.

How to apply for a Chase business credit card

Applications for a Chase business card are pretty simple, but there are some areas where people get confused. Here's a step-by-step guide on how to apply for a Chase business credit card.

Business information

When you apply for a Chase business credit card, the first page will ask for basic information about your business such as a name, mailing address, and annual revenue. (Remember, you may have to provide documentation for anything you include in your application, so be honest about your revenue and spending.)

If you are a contractor, freelancer, or have a side gig with no employees, you are likely considered a sole proprietor, which is what you'll put under "Type of Business." You'd also put "1" under the "Number of Employees" field, which would be you.

You can use your own name as your business name and your personal mailing address. You'll need to estimate your annual business revenue here, and this can be projected revenue for the upcoming year. Don't worry if you're not making much. The bank will also consider your personal income.

Under "tax identification number," you can put your EIN (Employer Identification Number) if you have one, or you can simply use your own Social Security number.

Personal information

The following page will ask for your personal information, much like a regular credit card application. As a sole proprietor, you'll identify as the "Owner" under the "Authorizing Officer" field. You'll need to provide your name, home address, and gross annual income. Your gross annual income can include income from your job, from your business, and from your spouse.

The following page will ask for your phone number (business and personal can be the same), your email address, date of birth, and Social Security number.

Your personal information is part of the application because Chase business credit cards require a personal guarantee. This means you will be personally responsible for paying off the card in the event your business folds or is otherwise unable to meet its obligation.

Employee cards

Finally, the last page when you apply for a Chase business credit card will give you the option to add employee cards. You don't have to do this, but if you do have someone trustworthy who might purchase things for your business on occasion, employee cards are a great way to help you meet your minimum spending limit for the sign-up bonus. Make sure you trust the cardholders, though, because you're on the hook for any charges they make.

Waiting for approval

Once you submit your application, Chase's algorithm will evaluate it. At this point, there will be one of three results:

• You're approved. Congrats! Expect to receive your new card in seven to 10 business days.
• You're denied. You'll receive a letter in the mail detailing why your application was rejected.
• You're pending. In some cases, you may see a notice that your application needs further review. Don't panic! You can still be approved, but it may take some time (usually within 14 days) to get a final decision. During this time, you may be contacted by Chase to verify some information or provide additional documentation.

You can call Chase's automated status line at 1-888-338-2586 at any time to check on the progress of your application.

How to get approved for a Chase business credit card

There's no way to guarantee approval when you apply for a Chase business credit card, but there are some things you can do to improve your chances. Here are some tips:

Increase your credit score: Your credit score should be at least 680 when you apply for a Chase business credit card, but having a score of 720 or higher will give you the best chances.

Decrease your credit limit with Chase: Chase doesn't like to extend too much credit to any one customer (as compared to their income), and it's very common to be denied because you already have too much credit from Chase. If this is the case, you may be able to have some of your credit line from another Chase card reassigned to a business card by calling customer service.

Space out your credit card applications: Chase doesn't like to see lots of recent inquiries or new accounts. Aside from not going over 5/24, you also won't be approved if you've opened a Chase credit card in the past 30 days.

Apply in-branch: Some reports suggest that people who apply for a Chase credit card in-branch -- rather than online -- have a better shot at approval. If you have a branch near you, it may be worth going in and applying in person.

Wait until you've been in business longer: You don't have to have a 10-year-old business generating six figures to be approved for a Chase business credit card. That said, it's not uncommon to be rejected if you have a new business with low (or no) revenue.

What to do if you're denied for a Chase business credit card

If you're denied when you apply for a Chase business credit card, there is still hope. You can call its reconsideration line at 1-800-453-9719 to speak with someone about your application.

Often, Chase just needs a little more information about your business or wants to verify something in order to approve you. Below are some common questions a representative may ask you:

• What type of business are you running?
• How many years has your business been in operation?
• Why do you want a business credit card?
• What type of expenses will you be putting on this credit card?
• How much revenue did your business generate last year?

Upon answering these questions, you may find that Chase reverses its decision and approves you for a new Chase business credit card. It may also still deny you, but you'll be given a reason so that you can improve your chances of approval next time.

Still have questions?

Some other questions we've answered:

• How do business credit cards work?
• What is chase's 5/24 rule?
• What credit score do I need for a chase credit card?