Intro:
Welcome to The Leverage Letter – your weekly guide to funding your business, maximizing travel rewards, and scaling without using your own money.
Ever wondered why your business credit applications keep getting denied or why your personal credit score drops after applying for "business" cards?
It's because of insider bank rules most people don't know about.
Today, I'm revealing the bank secrets you must know before applying for business credit, so you can secure maximum funding without damaging your personal credit.
1️Understand the Chase 5/24 Rule
Chase is one of the most valuable banks for business credit cards, but they have a strict rule known as "5/24." This means if you've opened 5 or more personal credit cards (from any bank) in the past 24 months, Chase will automatically deny your application.
How to Beat It:
Strategize Applications: Apply for Chase business cards before you hit the 5-card limit.
Business Cards Don't Count: Most business cards (except Capital One and Discover) don't count toward 5/24. Prioritize these.
Pro Tip: Always apply for Chase business cards early in your credit-building journey to maximize approvals. These cards offer high limits and valuable rewards points.
2️Avoid the AMEX Pop-Up Trap
American Express has an approval "pop-up" that appears if you've previously opened AMEX cards but didn't spend enough or closed them too quickly. The pop-up tells you upfront you won't get the sign-up bonus if you apply.
How to Avoid the Pop-Up:
Maintain Good Relationships: Keep AMEX cards open at least 12 months and spend regularly.
High Spend Strategy: Put more consistent spend on existing AMEX cards before applying for new ones.
Pro Tip: AMEX rewards loyal, high-spending customers. Cultivate your relationship with them to access top-tier business cards like the AMEX Business Platinum with premium travel perks.
3️Bank Relationships Matter (Especially with Chase & AMEX)
Banks favor existing customers. Your banking relationship impacts approval chances significantly.
Build Strong Relationships:
Chase Banking: Open a business checking account before applying for credit cards. Banks are more likely to approve credit lines for current clients.
AMEX Spend History: Regular spending on AMEX cards builds trust and leads to easier approvals.
Pro Tip: Before applying for high-limit business credit, put 2-3 months of consistent spend on your personal or existing business cards with the bank. Paying balances in full boosts credibility.
4️Beware of "Once in a Lifetime" Language (AMEX)
AMEX credit card bonuses are "once per lifetime," meaning if you've earned a bonus from a specific card, you can’t earn it again—even years later.
Maximize AMEX Bonuses:
Choose Wisely: Only apply for AMEX business cards with historically high sign-up bonuses.
Timing Matters: Apply when the bonus is at its highest. Check online for historical bonus trends before applying.
Pro Tip: AMEX Platinum Business frequently offers 150K+ points bonuses. Wait for these "lifetime" bonuses to maximize value.
5️Banks That Report Business Spending to Personal Credit (Avoid!)
Most business credit cards don't impact personal credit, but a few do. Avoid these cards because they can hurt your personal credit score by increasing utilization.
Cards to Avoid:
Capital One Spark Cards (Except Spark Cash Plus)
Discover Business Cards
TD Bank Business Cards
Why It Matters: High utilization on these cards will lower your personal credit score, reducing your future funding opportunities.
Pro Tip: Stick to Chase, AMEX, Citi, and Bank of America business cards—none of these report utilization to personal credit bureaus.
Booking of the Week:
A business owner is going skiing in Switzerland to celebrate a great start of the year.
Los Angeles (LAX) → Switzerland (ZRH)
🔹 Swiss Airlines Business – 70,000 miles + $60
Cash Price: $7,000+, You pay only miles + $60 in fees!
Award Rate: 70,000 miles + ~$60
Cash Rate: $7,298 (Last Minute)
The Leverage: Save $7,000+ on a premium cabin
Enjoy lie-flat seats, lounge access & luxury service
Book smart: Points > Cash
Want flights like this?
Our Award Booking Service helps you maximize your points for premium travel instead of wasting them on low-value redemptions.
Book here!
Next Steps: Now that you know the insider bank rules, it’s time to take action:
Check your "5/24" status before applying for Chase business cards.
Strengthen your relationship with AMEX to avoid the dreaded pop-up.
Open a business checking account with your target bank.
Ready to secure $150,000+ in business funding without affecting your personal credit?
Click Here to fill our enquiry form and I’ll show you how.
See you next week,
Ade | Freemium Traveler
P.S. Found these insider secrets valuable?
Forward this email to an entrepreneur who needs to know these rules before applying for business credit!