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Does Carrying Balances On Business Cards Affect Approval Of New Personal Card?
Does carrying a balance on Chase business cards affect approval for a new personal card?
I’ve opened two Chase INK cards in the last 6 months, and am taking advantage of the 0% offers right now since we are planning a wedding and have lots of large expenses.
I also had taken advantage of a 0% offer on my personal Freedom card to pay for the engagement ring.
I am making regular payments on all of these balances, and pay off the rest of my credit cards in full each month.
I would like to open a new World of Hyatt card before the end of the year to get the extra 5 EQN and hit a milestone award.
I’m only 3/24 with a credit score of 700+, and haven’t opened a personal Chase card in over a year.
I don’t want the hard pull if I am not going to be approved, and as far as I can tell Chase does not have a preapproval tool.
Does anyone know if Chase would account for the balances on the Ink cards or would look down on a balance being carried on a personal card with a 0% offer when reviewing a new card application?
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3 Replies
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Balances going up + intensive credit seeking (3rd new card in 6 months) = bank could easily perceive risk, so yeah.
Personally, I wouldn’t carpet bomb a bank with apps if I was planning on carrying balances with them, but if you don’t ask the answer is going to be “no”.
I think the damage from a failed hard pull is pretty minimal (I had two from Chase this year when I heard they were approving exceptions to 5/24, I still got an Ink when I slid under this fall.)
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Anecdotally yes.
I have all 3 Inks and a Southwest business card and 3 Chase personal cards all acquired since April 2022.
Every one has been instant approval.
I had a large balance on the SW biz card when I applied for the SW personal card.
That app has now been pending for 10 days.
The balance hadn’t hit the statement date but the card was nearly maxed out.
The card has now been paid off but the application is still pending.
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Every part of a credit score is about risk.
Even though your utilization isn’t directly affected by 0% business floats, the bank letting you do the floating will obviously know.
You’re probably better off hitting another bank since they won’t have any idea that you’re carrying no-interest debt.
I combined all of my ink lines onto my newest ink to make the 0% go farther.
Both P1 and P2 got rejected multiple times when people were getting approved for inks while over 5/24.
To be fair, we’re both significantly over 5/24 so it might have had nothing to do with taking advantage of the 0%
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