The Ink Business Unlimited® Credit Card credit score requirement is 700 or better. That means people with good credit or better have a shot at getting approved for the Chase Ink Business Unlimited Card. Chase evaluates applications based on a review of the applicant’s personal credit history, since cardholders must personally pay off any debts the business cannot.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Chase Ink Business Unlimited Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Chase Ink Business Unlimited credit score requirement. You can check your credit score for free on WalletHub.
If your Chase credit card application status is under review, that means your application has not yet been approved or denied. Don’t read too much into it, though. You’ll hear back within 7-10 business days of applying in most cases, when you don’t receive a decision instantly. Rarely, however, it can take Chase up to 30 days to make a ruling.… read full answer
Keep in mind that you can check the status of your Chase credit card application, either by calling Chase credit card customer service at (800) 432-3117 or online. While you wait for a decision, there are a few things to keep in mind to prepare for the different possible outcomes.
If your Chase credit card application status is under review:
Chase looks at your credit history, income, debt, housing status and number of recently-opened cards, among other things, when deciding whether to approve your application.
Chase credit card applications are usually under review for 7-10 business days.
Some applicants may receive an instant decision, while others may have to wait up to 30 business days in rare cases.
You can check the status of your application as often as you want.
To check your Chase credit card application status by phone, call (800) 432-3117, follow the prompts and enter your Social Security number.
To check your application status online, log into your account, click the main menu symbol at the top left of the page (three horizontal lines), and select “Application status.”
If your application is denied, you can call Chase’s reconsideration number at (888) 270-2127. Reconsideration is a long shot, but it’s worth trying if your circumstances have changed or you need to explain something on your application.
It is worth noting that all Chase credit card applications have the status “under review,” at some point, whether for a matter of seconds or days. The possible outcomes are three:
You could get an email saying you’re approved and receive your new card in the mail after another 7-10 business days. You can, though, call Chase customer service to ask for free 72-hour expedited delivery.
You could be denied by email and get a letter explaining why in 7-10 business days.
You could be asked to provide extra documentation or clarify a mistake in your application.
Ultimately, if you’re denied, don’t get discouraged. WalletHub’s free credit analysis will tell you exactly how to improve your credit score. You’ll also receive recommendations for credit cards with high approval odds.
The fastest ways to improve your credit score are to pay down your balances, dispute incorrect information on your credit report, make more frequent payments, and reduce credit utilization. Credit utilization (how much of your credit limits you use each month) contributes to a portion of your credit score that accounts for 20% - 30% of your overall score. So, an adjustment there can result in a big credit boost pretty quickly. Similarly, you can dispute incorrect information with a quick online request or phone call. You won’t always get an immediate credit score increase, but correcting errors on your credit report is a great place to start.… read full answer
There are a few other ways to increase your credit score quickly, from becoming an authorized user to increasing your credit limit. They may not all be equally effective for everyone, as it can take years to build a consistently good or excellent credit score. In fact, some strategies could send your credit score in the wrong direction before leading to an increase. For example, requesting a credit limit increase can result in a hard inquiry that damages your credit a bit in the short-term, but having more credit available could produce long-term gains if used responsibly.
Here’s how to improve your credit score fast:
Pay down your balances. If you aren’t eligible for a credit limit increase, focus on paying down existing debt. Paying down a large chunk of debt at once will help your credit utilization ratio and bump up your score. If you can’t make a large payment all at once, try to pay more than just the minimum monthly amount. If you have multiple debts, start by making payments on the debt that has the highest interest rate so you can limit interest charges.
Dispute incorrect information on your credit report. You should file a dispute for any incorrect negative info on your report. Once the dispute goes through, incorrect items will drop off your file, and your score should improve. You may have to wait 30 days for the credit bureau to review your dispute before you see any changes.
Make more frequent payments. Credit utilization is calculated based on the statement balance on each of your credit cards. You can reduce these balances, thus decreasing your credit utilization and increasing your credit score, by making payments before the end of each billing period. Then, pay off the remaining balance by the due date to avoid interest charges and credit-score damage.
Become an authorized user. If you’re just starting out, or your credit report has a string of negative marks, a good move would be to become an authorized user on someone else’s credit card and build your credit over time. Just make sure the primary holder is responsible and pays their bills on time.
Add new payments to your credit file. There are new services that can add positive information, like on-time utility payments, rent payments, and positive bank balances to your credit report. Not all of these programs apply to all credit bureaus, and some cost money to utilize, but they could boost your credit score over a few months.
Increase your credit limit. A higher credit limit can reduce your credit utilization ratio, assuming your spending does not increase. The only potential problem is that asking for a credit limit increase usually results in a hard credit inquiry, which would temporarily hurt your credit score a bit. But if you get a credit limit increase without asking, or you have a few months before you need the highest credit score possible, a higher limit could definitely help.
Everyone’s credit situation is different, so not every option will be relevant or available to you. The best way to find out exactly what you can do to quickly improve your score is to check out the personalized advice in the Credit Analysis section of your WalletHub dashboard.
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