Venturion said:I did about 21 biz apps today. 4 instant approvals and 1 rejection (second Capital One app; first was approved). Would people prefer posting here, in its own thread, or another thread? Thanks.

21 biz apps? sweet. i'd love to see the details and how things unfold in a new thread.

I don't know where to put this question, so shoot me if I'm wrong!

I plan on doing an AOR with both business and personal cards. I do have a valid business. My business is my main source of income, but I'm not sure what I can report on personal cards as my HHI. Do I just report my AGI or can I report my gross sales as my HHI?

I have some questions about business cards. Hopefully the collective wisdow of FWF community can help answer these:

1. Is business card debt really "hidden debt"? Why am I asking? During a recent mini-spree, a couple of my business apps were rejected (apps were rejected for reasons found in the personal CRA files, but following discussion was interesting). I called and had lengthy discussions with the respective banks credit issuing depts, and this is what I found out:

- Discover tried pulling "business credit file" from Experian Business and Equifax Business. While this was not so obvious from the letter, when I gave my app ID to the analyst on the phone, first thing he said was: you have no business credit file. I already had my spiel ready and told him that I am trying to build credit for my business. He commended the effort and said that if I had gotten that card, they would definitely report to both those business bureaus.

- Bank Atlantic / Juniper / Barclays said that if approved, they would also report to the Business CRAs (I asked which, and she said D&B under some circumstances and Experian Business).

2. Apparently there is a credit reporting company called ARS (Advanced Resolution Services). There is little about this co on the internet, and when I called the number, they said I can get my consumer file maintained by them if I send some info to them, including DL. I know that they are owned by VISA or MC and they are able to record applications for VISA / MC, granting, denial, etc. They may possibly be able to collect and store the information provided along with the application, i.e. personal income, HHI, company worked for, how long, etc. If this is indeed the case, then b* might become less useful if a particular credit application triggers the need for a human credit issuer to consult someone's file with the ARS. Biz credit might fall in this category.

P.S. Dug up some more dirt on Advanced Resolution Services: Link to a thread on brotherly CreditBoards discussing ARS. I think the sentiment of the posters on that board can be summed up with one word: PISSED. LoL.

lhendricks92 said:

that's actually a really good question. i've been using net income. makes sense for a business, but what, exactly, is "net income" for an individual? AGI would be analogous to gross revenue for a business. hmmmm, maybe i need to revise my calculation...

sorry if i'm rambling...just thinking off the top of my head.

Thanks for the reply, especially coming from you! I've been studying your AOR and I want to pretty much shadow what you did. Are you available for a paid consultation?

beltme said:lhendricks92 said:

that's actually a really good question. i've been using net income. makes sense for a business, but what, exactly, is "net income" for an individual? AGI would be analogous to gross revenue for a business. hmmmm, maybe i need to revise my calculation...

sorry if i'm rambling...just thinking off the top of my head.

Thanks for the reply, especially coming from you! I've been studying your AOR and I want to pretty much shadow what you did. Are you available for a paid consultation? Ha! Of course lhendricks92 is available for a paid consultation. This is FWF; we are all available for paid consultations! You just name the right price

MikeR397 said:ChumChurum said:Is business card debt really "hidden debt"?When I say it is "hidden" I mean that in regards to your personal credit report for personal credit applications. When you apply for business credit, you will also get your business credit report/s pulled. However, the important aspect here is that with regards to personal situations (mortgage, car loan, school loans requiring credit checks), the business credit is hidden from sight and not hurting you personal credit score.

The other nice thing about business "debt" is that it seems to be treated as more of an "investment" by the business credit scoring models. (Payment timeliness is much more important than utilization.)

In other words, unlike personal debt, the models assume you're using credit to make money (i.e., grow the business) and not just blowing it all on hookers and booze.

Disclaimer: I have no real knowledge of how business credit works. I'm simply inferring this from the lack of adverse action reported on business lines in this thread and musings from other FWFers.

lhendricks92 said:In other words, unlike personal debt, the models assume you're using credit to make money
Well, that is what we're doing with it! I would prefer hookers and blow, though.

ChumChurum said:So if an underwriter calls with a question on a personal card application or CLI, saying that the large balance transfer I am about to take is an investment should help the cause . Partly joking, but you never know.

Actually, I recently told a credit analyst that balances on my report were at 0%, and that seemed to ease concerns about a CLI request. Took a brand new Chase biz line from 35K to 50K.

With business cards, can you transfer balances from personal credit cards? I'm looking at the Advanta card and it says:

"ABC will transfer full or partial balances from other business accounts..."

So it seems no? How about balance transfer to checking accounts? Does anyone know which business cards offer this?

WWScoobyDo said:With business cards, can you transfer balances from personal credit cards? I'm looking at the Advanta card and it says:

"ABC will transfer full or partial balances from other business accounts..."

So it seems no? How about balance transfer to checking accounts? Does anyone know which business cards offer this?My methods for getting the $ from these business cards:

Advanta will let you BT directly to a personal checking (I have done it 3 times).

BOA should also let you BT directly to personal checking.

Chase, just use the included BT check with the card.

Citi, you can wait for the welcome package that sometimes comes or call in and request a check made payable to your name.

Bank Atlantic only allows BT to another company, but you can do it to a personal card (I have done this).

I'll work on this list a little more and incorporate it into the OP. Here is a full list of how I got the $ from each card, personal and business, I was personally approved for. I will post the business methods in the OP.