Apply In Branch for Ink Preferred if Over 5/24 & to Waive Annual Fee

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The miles and points community, for valid reason, freaked out over the release of the Sapphire Reserve and it’s 100k Ultimate Rewards sign up bonus back in August. Many of us moaned and whined about our ineligibility for the Sapphire Reserve due to being well over the 5/24 limit with Chase, dreaming of all those Ultimate Rewards and myriad of valuable perks the card has to offer.

And then there was news of people well over 5/24 but with relationships with Chase receiving pre-approval at a Chase branch and thereafter getting approved for the mega-card–despite their credit card churning history.

Now there’s another stellar new Chase card with a hefty sign up bonus–the Ink Business Preferred–and we all face the same sad reality that it’s a Chase card that falls under the jurisdiction of 5/24. But Doctor of Credit readers have commented about their success of pre-approvals in branch for the Ink Business Preferred. Makes sense if it worked the Sapphire Reserve that it might also work for the Ink Business Preferred. We’re curious to see if any of you out there over 5/24 have tried this approach with the new Chase Ink Business Preferred Card.

In Branch Method

This was the process I outlined in Apply In-Branch For Sapphire Reserve if Over 5/24:

Step 1: If you have an existing relationship with Chase already (i.e. checking account, savings account, mortgage, credit card), find the closest Chase location near you.  It doesn’t need to be the branch you normally visit or even in your home state, any location should be able to assist you.

• Step 2: Ask if the system shows that you are pre-approved for any credit card offers. At this point, you won’t have triggered any hard credit pull. You can decide once you hear if you’re pre-approved or not whether or not you want to pull that trigger, so you don’t have to risk a hard credit pull in vain.
  • If you are pre-approved, read Step 3a.
  • If you are not pre-approved, read Step 3b.
• Step 3a: Proceed with applying in-branch. Looks like your chances are pretty good for approval according to reported data points. This comment today on Flyertalk claims the Chase banker they spoke to hadn’t seen anyone denied that was pre-approved. If you aren’t instantly approved, ask why and if there’s further information you can provide or actions you can take to help move along/change their decision.
• Step 3b: I would stop here. Data points are reporting denial due to 5/24 from those that proceeded with applying despite not being pre-approved.

If you live near a Chase branch, it’s worth a shot going in to ask if you’re pre-approved.

Applying In Branch Also Waives the $95 Annual Fee

The Ink Business Preferred has a very lucrative sign up bonus that includes:

• Sign Up Bonus: 80,000 Ultimate Rewards after $5,000 in spending in the first three months
• Category Bonuses: 3x on travel; shipping; internet, cable, and phone services; and search engine or social network advertising
• Value of Ultimate Rewards: Worth 1.25 cents toward the purchase of any airfare or may other travel purchase OR can be transferred to seven airlines and four hotels for higher value
• Other Perks: Up to $600 per claim in cell phone protection against covered theft or damage for you and your employees
• Global Acceptance: Visa, chip technology, and no foreign transaction fees

When applying online there is a $95 annual fee. When you apply and are approved in-branch, that annual fee should be waived for the first year of card membership.

Bottom Line

People over the Chase 5/24 limit that have relationships with Chase reported higher approval rates when they applied in a Chase branch. The same logic probably applies for the brand new Chase Ink Business Preferred. Help us collect data points by commenting below if you are over 5/24 and traveled to a branch to check for pre-approval of the Ink Business Preferred. Your fellow miles and points enthusiasts will appreciate it.

Whether you’re over 5/24 or not, applying for the Ink Business Preferred at a branch should ensure that the normal $95 annual fee that isn’t waived the first year when applying online is indeed waived.