JP Morgan Chase

The Highlights

Overall, Chase Bank and Chase Ultimate Rewards are our favorites in this hobby. That’s why we suggest moving your banking to Chase, as it will help with future approvals (especially on business). The good news is Chase often offers bonuses to open new accounts. The offers range from $150 to $1,000 per account. Just Google “Chase open bank account offers” and go through the top 10 links to find the best current offer.

Chase is the originator of the 5/24 rule, which means we generally recommend starting with Chase and Capital One -- then moving on to Amex, Citi and Barclay, who have less stringent approval rules. Here’s a crucial thing to note: Chase business cards don’t show up on your personal credit report, and therefore do not count towards the 5/24 rule.

Chase is a conservative and smart lender. That means you’ll need decent credit to be accepted, and you might have to call the reconsideration line if you’re initially declined. Having your bank accounts with them -- along with a clear reason you want the card, other than a bonus -- will go a long way. Barring a rule violation (listed below), we see about 65% of original declines approved on a reconsideration call.

When points appear

With receipt of statement after meeting minimum spend