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The Chase Ink Cash is offering 50k after $3k spend in 3 months and it carries no annual fee. It’s a no brainer if you’re under 5/24. Luckily, I am under 5/24, and applied as a Sole Proprietor. I didn’t foresee this being a problem at all since I already have a Chase Ink Business Preferred with this business and thought if there was any problem, it would be that I needed to move some credit around. However, I applied and got the following notification:
The Rep said he couldn’t verify that the business was real said he was sending me paperwork to fill out that would require one of the following three items and mail back or fax in:
- Proof of business address
- A bill of some sort or tax filing
- Verification of tax identification number
- Which a sole proprietorship doesn’t have…
- Name of your company
I asked the rep if something on the application was filled out improperly as I already had a card with that business so wasn’t sure why that wasn’t enough for verification. He said the application was fine, but he couldn’t verify, and applications were becoming more stringent. He intimated that a credit card bill wouldn’t suffice for proof… and that he could see it was a Sole Proprietorship and that wasn’t a problem at all.
It didn’t make any sense, but I figured it’d be a good learning lesson.
I waited until Monday and called the Reconsideration Line. 800-453-9719
I explained to the rep the situation and asked for some clarification and help assisting me in verifying the business. He asked me to hold. A few minutes later he came back and said that he worked around the verification block because I already had a card with that Sole Proprietorship. He then processed the application and I was approved.
If you end up in a similar circumstance, I would wait a few days and call back into Reconsideration. My instinct is that the verification was an error, and that the false flag was a processing mistake, rather than some new stringent policy against Sole Proprietorships. A lot of people applying as an SP don’t have bills in the business name, or any paperwork filed to officially register with the State.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
Welcome Offer
60k Points after $4k spend in 3 months
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- 60k points after $4k spend in 3 months
- Worth $750 in Chase Travel℠ and way more if you maximize transfer partners
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex℠and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
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