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Qualifying for a business card isn't as difficult as it seems. While you do need a money-making venture to be eligible, you can open a business credit card for a side hustle or freelance gig. However, a business card application can be a touch trickier than a standard consumer credit card application.
Since Chase offers many of the best business credit cards, CNBC Select breaks down how to complete a Chase business card application.
How to apply for a Chase business card
Advantages to having a Chase business card
Many Chase credit cards rank among the best travel credit cards and the top rewards credit cards. Having a Chase business credit card provides you with all the typical benefits of a business card, plus you can earn and redeem rewards in the same program as your personal Chase credit card.
The Chase Ultimate Rewards® points you earn with the Ink Business Preferred® Credit Card (see rates and fees) can be pooled together with the rewards you earn with personal Chase cards, such as the Chase Freedom Unlimited® (see rates and fees) or Chase Sapphire Preferred® Card (see rates and fees). By earning Chase points on business and personal expenses, you can more easily accumulate the points you need to book a top-tier hotel or a luxury business-class flight.
The Ink Business Preferred® Credit Card is an excellent business card with useful benefits, valuable rewards and a generous welcome bonus.
- Earns flexible travel rewards you can transfer to airline and hotel loyalty programs such as World of Hyatt, Southwest Rapid Rewards and many more
- Valuable welcome bonus worth $1,125 in travel when redeemed through Chase Travel
- Strong travel and shopping protections
- No intro APR offer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- Earn 5x total points on Lyft rides through 9/30/27.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Go further when you book with Chase TravelSM. Enjoy competitive rates, seamless booking and premium benefits.
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Receive complimentary access to DashPass by DoorDash.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Having a personal and business card tied to the same rewards program can unlock high-value deals. For example, Southwest offers a companion pass to anyone who earns 135,000 qualifying Southwest points in a calendar year (or takes 100 qualifying one-way Southwest flights in a calendar year). While that's a steep threshold for anyone who doesn't travel exclusively (and regularly) with Southwest, this deal is more attainable if you open both a personal and business Southwest credit card because the welcome bonuses count toward earning a Southwest Companion Pass.
You can earn 80,000 Southwest points after opening a Southwest® Rapid Rewards® Performance Business Credit Card (see rates and fees) and spending $5,000 in the first three months from account opening.
Southwest cards receive a 10,000-point boost to their companion pass qualification each year. That boost and the intro bonuses from a personal and a business Southwest card can be enough to qualify for a companion pass without earning any additional points. Once you have a Southwest Companion Pass, you can bring a guest along on any Southwest flight (paid with points or cash) for only the cost of the taxes and fees.
- Welcome bonus counts toward earning a Southwest Companion Pass
- Up to 365 in-flight Wi-Fi credits every year
- Four Upgraded Boardings per year (when available)
- Global Entry, NEXUS or TSA PreCheck® credit every four years
- High annual fee
- Limited value when you're not traveling with Southwest
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
- 9,000 bonus points after your Cardmember anniversary.
- Earn 4X pts on Southwest® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants
- Earn 2X points on hotel accommodations booked directly with the hotel
- Earn 2X points on local transit and commuting, including rideshare.
- First checked bag free for Cardmembers and up to 8 additional passengers in the same reservation.
- Cardmembers and up to 8 passengers in the same reservation will board with Group 5 giving them earlier access to overhead bins
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transaction, whichever is greater.
If the Southwest Performance Business card isn't the best choice for you, the Southwest® Rapid Rewards® Premier Business Credit Card (see rates and fees) may be a better fit. It has a smaller intro offer, but the annual fee costs $70 less per year.
How to qualify for a Chase Business card
To be eligible for a Chase business card, you'll need to have some sort of business venture. That doesn't mean you need to be a titan of industry — a part-time independent contractor gig or the beginning stages of a side hustle can be enough.
When you apply for a Chase credit card, you'll also have to contend with the Chase 5/24 rule. This rule generally prohibits you from most Chase credit cards if you've opened five or more credit cards with any card issuer in the past 24 months.
Chase business cards are affected by this rule, but because Chase business cards don't appear on your personal credit report, they don't add to your 5/24 count. This means if you've opened four credit cards in the past 24 months, you could open a Chase business card and still be eligible for other Chase cards.
How to complete a Chase business card application
If you're filling out your first Chase business card application, a couple of parts can seem confusing.
Anyone who is the sole owner of the company and hasn't set up a different legal business structure can qualify for a business card as a sole proprietor. For sole proprietors, you typically can use your Social Security Number as your business tax ID.
Unless you've filed for a fictitious business name or DBA (doing business as) name, you can use your name as the legal business name and the business name you want to appear on the card. If you run the business out of your home, the business address can be the same as your home address.
In addition to the business name, legal structure, business address and business tax ID, you'll need to share the following information:
- Authorizing officer title (this is typically "owner" for sole proprietors)
- Your full name
- Date of birth
- Mother's maiden name
- Home address
- Email Address
- Phone number
- Gross annual income (including the business's profits)
- Number of employees (enter "one" if you're the only person working for the business)
- Date the business was established (month and year)
- Annual business revenue
- Business category, type and sub-type
- Estimated amount you expect to spend on the card
When you apply, you can add employee cards and choose whether you would like to receive paperless statements.
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Bottom line
Chase business credit cards can be exceptionally valuable and they pair well with Chase's consumer cards. However, business credit card applications are slightly different than standard personal card applications. This doesn't mean it's more difficult to get approved for a business card, but it's important to understand what it takes to qualify and how to accurately fill out the application.
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