Ink Bold Help! Tips on the Biz Reconsideration Phone call.
I have gotten a few emails in the last couple of days regarding the Ink Bold reconsideration phone call. I know many readers have taken advantage of the killer Ink cards. They were smart in doing so, especially since most of them already have the Chase Sapphire Preferred® (the two cards compliment each other WELL).
Note: Chase rarely instantly approves anyone for the Ink Bold. So you’ll may have to make a phone call to get a decision. I share reconsideration phone tips pretty often, but I thought it would be a good idea to lay out a step by step “business card” guide for those who applied for the Ink Bold recently.
I’m assuming you’ve already done this, and were then haunted by the words “your application requires further review” on your screen. No one likes those words. Now if you wait until Chase writes you, you will be waiting 10-14 days. But I’m not one to wait. I usually call the reconsideration line the day of an app or the next day.
2. Be Prepared to Answer Chase’s questions.
Chase is going to ask a few questions to verify the business and see if you would be a worthy candidate. It’s in their best interest to talk things out with potential card holders. I have found that being prepared to answer these questions helps to put Chase’s mind at ease. That’s all they are wanting to know- why you applied and if you are going to use the card.
Here’s an example of the questions they may ask:
- How long has your business existed?
- How much income has it generated?
- What are projected revenue earnings?
For my wife who is a musician, I answered these questions like this:
- She has been a part-time musician forever, but I said for two years. That’s when she really started playing out more.
- I was honest and told Chase the minimal salary she received from gigs and events.
- She is playing out more now, so I was able to project more revenue in the upcoming year. Also, she had an upcoming recording project so I was able to say that she really needed the card to pay for studio time, mixing, equipment, and cd’s. They loved the detailed explanation of what I would be using the card for. If you are selling things on Ebay or Craiglist, go into deep detail of your upcoming plans to sell music equipment, macbooks, clothes, or whatever items you are flipping.
An important point to make is that you need to separate spending from your personal spending. You are going to be buying such and such and it’s getting to be so much that you need to start differentiating from your personal accounts. This shows responsibility, a true need for the card, and proves upcoming spending.
3. Be Confident.
Be confident on the phone. Don’t beg and try not to sound unsure in answering any of the reps questions. I always try to be upbeat and engage in a little small talk. I don’t know if this ever helps, but it sure the hell doesn’t hurt.
4. Call the Business Reconsideration Line.
Call the Chase Reconsideration line at 1-800-453-9719, Monday – Friday, 8am-10pm Eastern. You will get a Chase rep on the first couple rings… it’s great.
5. Call Back Again.
If you don’t have any luck with your first call, don’t get discouraged. The individual customer rep you get DOES matter. Trust me, no one likes being that guy, but you are going to have to suck it up and call back. I have called back many times and have never been denied an approval in the end (with Chase).
If you applied for the Ink Bold (or any Chase card), there is a lot of reward to be had. 50,000 Ultimate Rewards Points is easily worth $625 in travel. That’s a lot of coin. Just consider the reconsideration call like a small task at another day at the office. A 5 minute effort that nets you $625!! The main point is to present yourself as a prime candidate for the card you applied for and to prove that you will be using it often. I hope this helps, and please don’t hesitate to email or comment below with any other questions you may have.
— Noob Master