Venturion said:CyberKost - the easy and honest answer is mistake. I erroneously interpreted the 0% purchase APR as BT APR. Shame on me... thankfully it didn't impact any other approvals as I'm batting 100% with only M&T bank and Fifth Third left pending. The big question is what to do with them now. I am thinking of applying for inNYC for 0% for six months and then reallocating the biz lines to it for the BT (if possible). Open to other ideas...

Well, if your balances on personal cards look good, then you may want to try that. I'm not sure if AM3X is not going to bark at 4 recent business cards though when you apply for IN:NY. The other thing you may want to make sure (beforehand, that is) if business-to-personal reallocation is possible (study FWF, call AM3X). And then, yes, you better make sure you can afford a FR (I'm sure I had all the documents to survive one but I decided to leave my $25K IN:NY line alone -- I have enough headaches w/o AM3X FR). Lastly, 0% for purchases is not that bad (it's like 5% APR for the money you spend on purchases if you think about it).

biz to personal (and vice versa) reallocation is quite easy on the am.ex website.

what happened with these?

M&T Bank Visa Platinum Business
National City Visa Business

Venturion said:lhendricks92 said:what happened with these?

M&T Bank Visa Platinum Business
National City Visa Business
Nat City - approved for $10K, called in for BT at 0% for 6 months. Called next day and got $10K CLI and 0% for 12 months on that transfer; could not get the first transfer changed to the same terms. No fee.

M&T, as someone may have mentioned, needs a name (other than your own name) for the business. So the jokers sat on my app for 2 weeks. I called in and gave the info. I got a confirmation call to verify some data 2 days later and have been approved. The CSR said my card should arrive in 5-7 days (this was yesterday).

EDIT: PS - if anyone wants me to update the OP, just let me know. The gist is that I got 100% approval, $273K in CL, $216K in BT, $57K in 0% AMEX purchases to use over the next year. I realize in retrospect that I should have done more biz apps as well as more personal apps. Oh well - I'm down to 1 TU and 4 EQ inquiries already, so I should be ready for another round soon.

How much have your credit scores dropped as a result of the hard pulls? that update in the OP would be helpful
thx

Do you mean Advanta only allow one card account open for the whole life time of the business? If so, that means you only get to enjoy 15 months of 0% apr once? If that's correct, is it wise to close my very small credit line Advanta card, and wait to apply for another when the credit score is higher?

Or is it better to just take what you can for 15 months, then close the account, then apply for another? Does this affect my or business's credit score?

Venturion said:

* Advanta and Capital One only allow one card per small business. I mistakenly applied for the Advanta Business twice.

Pesto - I don't have a good suggestion for your situation. My understanding from Advanta is that, unlike other issuers, the company only wants you to have one Advanta card - the best one for your business. When I told the CSR that I have several cards from other issuers, she intimated it was against their policy and bad protocol on behalf of the other issues (which from their standpoint is 100% logical).

I took the 2.99% for life card and dumped my $12,500 CL into my 6% mortgage. I will ask for a CLI in 6-months and also inquire about future BT offers and (again) opening other Advanta cards.

With regards to taking the 15-month BT, closing, and then re-applying, the main impact to your personal credit score will be from the inquiries [EDIT - thanks faztcobra] since the business line will not show up. If your credit is strong and you are using B*, I don't think the impact will be severe or long-lasting, as was the case with my credit scores just a few weeks after this AOR. However, I'm uncertain as to how Advanta will view this approach.

pesto said:Do you mean Advanta only allow one card account open for the whole life time of the business? If so, that means you only get to enjoy 15 months of 0% apr once? If that's correct, is it wise to close my very small credit line Advanta card, and wait to apply for another when the credit score is higher?

Or is it better to just take what you can for 15 months, then close the account, then apply for another? Does this affect my or business's credit score?
Venturion said:* Advanta and Capital One only allow one card per small business. I mistakenly applied for the Advanta Business twice.

Venturion said:With regards to taking the 15-month BT, closing, and then re-applying, that will certainly impact your personal credit score from the inquiries, closed account, and new account. If your credit is strong and you are using B*, I don't think the impact will be severe or long-lasting, as was the case with my credit scores just a few weeks after this AOR. However, I'm uncertain as to how Advanta will view this approach.The only impact will be from the inquiry. Advanta Biz doesn't show up on your personal reports.

I'm in the same shoes since I just bought a business for which I will be securing new credit. I'll be lazy and wait until later this week in case you do call and find out first. Otherwise, I will post what I discover. Thanks!

Auream said:Does anyone know if Advanta Biz will allow one person two have two cards if each is for a DIFFERENT small business? I already have an Advanta biz card, but I recently started an LLC that is an entirely unrelated business. If nobody knows, I guess I'll call them on Tuesday and see if I can get an answer.

Venturion said:
$81K with Chase Platinum Visa Business 12-months, 0%, $75 fee
Chase Platinum Visa Business $10K
Chase Business Rebate $10K
Amazon.com Busines Visa $25K
GM Business Card by Chase $10K
Chevy Chase Flexible Rewards Platinum Business $10K
(ordered by consolidation path - also brought over $16K from personal Amazon card)

I just tried to get Chase to roll Amazon and GM business cards credit lines into Chase Business Visa and the CSR said the accounts have to be active 90 days. Has anyone else experienced this?

Edited to add - 1st CSR was just a butt hole. Second one no problems