Author Topic: Chase Business Declination - Business Structure (Sole Prop)  (Read 542 times)

Offline MrsZev

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Chase Business Declination - Business Structure (Sole Prop)
« on: January 04, 2021, 09:45:17 AM »
Tried to open a new Ink Cash, denied based on "business structure"... we have a rental property, but no LLC. this is legit business, but I'm honestly not sure what to have on hand going into a recon phone call? Our expenses and income from the rental are reported on our personal taxes... any advice or personal experience with this situation?

Offline El Capitan

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #1 on: January 04, 2021, 11:12:30 AM »
Call reconsideration. Got same rejection as you for same card I'm on the phone with them now. Will let you know what happens
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Offline Joeymc

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #2 on: January 04, 2021, 12:57:09 PM »
Call reconsideration. Got same rejection as you for same card I'm on the phone with them now. Will let you know what happens
Are you still on the phone with them?
120 characters? Hmm, I wonder what I could write with 64 characters. Boy, it's gonna be hard to use up 15 characters. W-

Offline El Capitan

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #3 on: January 04, 2021, 03:41:49 PM »
Are you still on the phone with them?
ALOL no. Got declined even after offering CL switchover
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Offline Joeymc

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #4 on: January 04, 2021, 04:46:17 PM »
ALOL no. Got declined even after offering CL switchover
Sorry. Did they give a reason for declining you?
120 characters? Hmm, I wonder what I could write with 64 characters. Boy, it's gonna be hard to use up 15 characters. W-

Offline Pesach

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #5 on: January 05, 2021, 01:31:30 AM »
asking for a friend who is distraught at having called up chase business recon right away when application went into pending  which triggered a follow up email right after the phone call requesting proof of Ein , he feels if he would have waited for the application to process naturally without impulsively calling up it would have avoided triggering that request for documents and would have approved him what words of nechama can i give him? can i tell him they probably would not have approved you without asking for documents even if you would have refrained from calling up ?

Offline LoLo

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #6 on: January 05, 2021, 01:43:46 AM »
Does he have his EIN docs? They request it quite often, not a big deal.

Offline MrsZev

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Re: Chase Business Declination - Business Structure (Sole Prop)
« Reply #7 on: January 05, 2021, 11:36:26 AM »
I called recon today, and was successful in opening the Ink Cash by closing the Business Preferred and transferring 100% of the CL to the new Ink. Maybe HUCA?