Google is your friend
Elan is the company servicing a lot of the cards not issued by the biggest banks. Similar to the FIA division of Bank of America, former MBNA cobranded credit cards.

scott1961 said:Very nice detailed post on your second AoR. Since I am still on the fence about doing a second I am interested in following the results, especially on all those deferred. My worry about a second AoR is the majors like CITI, Chase and BoA either reducing my CL's or giving me crappy lines on new cards, And rejection would kill me. I think the only way I could do a successful AoR would be to include business cards. My company has a 40 year history of excellent credit, So I know I could get some nice lines. Just not sure if I should drag it into the AoR game. I always remember some business advice from my Father, One was "Don't crap where you eat" and "Don't stick your d!ck in the paycheck" I already screwed up on the second and don't want to go 2 for 2.

scott, you sure are a scared puppy. i know you have a lot to lose, but the odds of you losing any of it are very, very small. you know this game is not rocket science, and you are obviously quite adept at managing your finances. take advantage of your business credit, and continue to keep your personal credit relatively spotless. AOR earnings are super small potatoes for someone with your wealth, so the only reason to do another would be for fun. if you don't think it would be fun, skip it.

and rejection, who cares about rejection? you're not asking anybody to the prom!

scott1961 said:
Not worried about losing anything I just don't get how it would work. Wouldn't the money have to go into our corporate bank account? Who makes the minimum payments? Then how do I get it out without being taxed? I would have to explain what I am doing to my controller and our accounting firm and not sure I want to do that. I guess I should go read up on some business AoR threads

ok, got ya. i haven't involved my company in my business credit card games. i BT to personal cards and personal savings accounts. no money actually goes through my company. i just look at these cards the same as my personal accounts. in many ways, the issuers do the same thing. that's why they ask for your SSN and hit you with hard pulls on your personal report. the beauty is that they DO seem to treat these accounts differently when it comes to utilization, and of course the accounts are hidden from the personal CRAs. no one has in the forum reported any adverse action from high business utilization.

and, if you're worried about your business credit rating, it appears that payment timeliness is what matters, not utilization.

Saturday's mail:

- Chase biz came with only $10k CL! That's how much they took from my personal line! They were supposed to add $5k CL on top of it. I'll have to complain about it when I call to activate. Still waiting to see if the United cards were approved or not.

- BofA biz card showed up w/ $25k line as expected, terms included w/ card specify BT fee $10 min, uncapped. I'll still take the BT and then complain about the fee.

- Citi Biz denied (don't know which one) - says too many inquiries. Although I also got an email that Citi Biz was approved. So most likely one denial and one approval - will see which one.

- Fidelity card came with $8k CL.

- National City (personal) came with $10k CL.

- Wells Fargo denied the personal card, stating that I have short history as a Wells Fargo customer!!! What the heck are they smoking? I've had their checking account since 1996! I don't use it much, nor keep much money in it, but it still is active. I'll call them and complain.

- RBS Kroger denied stating too many inquiries. Will call for reconsideration.

I have yet to call the issuers - I gave my home number on the apps, not my cell number - and I'm home mostly at nights, when the credit decisions departments are closed... I don't want to call from my cell, since it's unlisted and last year during AOR I called to activate my cards from a different phone number and number of banks got spooked and it took a while to "de-fraud" the cards.

So for Saturday mail - we added $18k to personal, but we're subtracting $5k from biz lines.

Total new CLs approved (so far):
Personal: $132,000
Business: $32,000

By the way:

More Cards Received:

#08 - Capital One Biz $7k CL
#10 - Citi Biz $12k
#17 - BofA NFL $2k CL
#21 - Chase United Biz $15k CL
#30 - Am.Ex Starwood Biz $24k CL

Cards Approved
#20 - Chase United $10k (they just moved $10k from my older Chase card)

Cards Denied
#29 - Citi Biz Premier Pass - too many inquiries (Equifax) 6/20

Extra CL received:
#15 - Fidelity, which was approved for $8k - got a bump upon activation to $10k

Will update totals and OP in a few minutes.

Total new CLs approved (so far):
Personal: $134,000
Business: $82,000

I am still waiting to see/hear anything from:
#04 - Juniper Biz (this should have been approved I got an email that it was, but nothing in regular mail)
#05 - Citi Driver's Edge
#23 - Wachovia (I have a feeling I didn't apply for it)
#32 - Citi AA personal (It's most likely going to be a denial)
#33 - FIA Schwab (I'm starting to get a feeling that I didn't apply for it)

Reconsiderations in the air:
#12 - Wells Fargo (personal)
#19 - M&T (business) - this one should be actually numbered #35

Interestingly, I have a $100 payment on my MBNA card, which I put as a BT target on the Juniper applications, but I asked for $20k BTs on those... so that's very weird, as I didn't pay $100 towards that card.

The only BT so far that was processed was Integra $4.9k (out of $5k line) going into my MBNA card. Besides the BTs that I asked for on the applications I have yet to do any other BTs, as I'm trying to organize this whole circus.

All of a sudden I have 37 active credit cards in my credit card folder and I'm running out of room

very, very nice results. congrats!

As far as CapOne, you said "request a high BT (mostly treated as purchases)"

I can't figure out CapOne and the whole purchase=BT thing. Can you break it down for me...and slow?

lhendricks92 said:very, very nice results. congrats!

As far as CapOne, you said "request a high BT (mostly treated as purchases)"

I can't figure out CapOne and the whole purchase=BT thing. Can you break it down for me...and slow? For the Biz application there was no place to request a BT on the application. Otherwise I would have asked for at least $20k. It's been reported that asking for high BT w/ Cap1 results in high lines. What it comes down to is this:

#1. BT fees = none
#2. BTs are treated as purchases - so there is actually a grace period and if you pay them off before the statement cuts then no interest is charged (or so I read on other threads).

Take it with a grain of salt as I have no experience with it yet.

lhendricks92 said:jairocon said:#2. BTs are treated as purchases - so there is actually a grace period and if you pay them off before the statement cuts then no interest is charged (or so I read on other threads).I see, so they're high maintenance BTs, in that you have to request and pay them off every month (and the purchase promo rate doesn't apply). Thanks for the explanation.I think I read somewhere that Cap1 is very eager in sending BT checks out. So people use that.

Bad news - M&T seems to have pulled Equifax (I was hoping for Transunion pull)
ELANFINSVC 07/05/2007 Equifax

Since that's inquiry #18 within last 6 months, I can safely predict that it will get denied. Oh well.

pyro123 said:jairocon said:Instant Results: deferred
Deferred Results: Approved for $8k CL! Asked for CLI upon activation - approved - new line: $10k!
Note: it is a Visa Signature card - doesn't report CL - will need to see what can be done
Do you mean Fidelity 1.5% Cash Back is not reported in your credit report at all like a business card? or that it reports credit balances instead of CL??It is not a business card, so it is reported on my credit report. Secondly it only reports high balances, not the whole CL. Does anyone know if I can "downgrade it" to a regular platinum card?