Update 4/23/20: We’ve seen a lot more datapoints on this lately. Chase has also moved to requiring users to log in to apply for Chase Business cards. Another common reason given for denial is ‘business structure’ when somebody with a sole prop applies. During reconsideration calls for customers that have been given the business structure denial reason Chase is claiming that this was a mistake and then giving another reason for the denial.
Based on anecdotal evidence it seems that Chase has tightened lending on small business credit card applications. Yesterday we posted about changes Chase had made to the business credit card application page, some of the old application pages still work but it doesn’t seem to matter what page is used and tightening of approvals is across the board. One of the common reasons for denial has been “insufficient balance in deposit and investment accounts with us”, so it might make sense to open a Chase business checking account and add a healthy amount of funds there to help push an approval through.
If you’ve applied for a Chase business credit card since 4/16 or 4/17 then please share if you were able to get approved or not in the comments below.
