Background: FAKOs from TC (779, 753, 769) with 11,1,8 inquiries (Post-AOR on 8/29 759, 722, 709 with 0,13,16 and active B*). Credit Secure showed 11,1,0 inquiries for some reason. Current lines include CITI (30K), BA (65K), AMEX (30K), Discover (28K), Amazon/Chase (18K), and Sears/Citi(2K). Average age: 7 years maybe? Average utilization: ~48% (under 89% on all lines)
Business Details: $2,500 in business revenue (actual 1099 from 2006 consulting work), same home address/phone number, SS# as TIN where requested (some apps allow you to leave it blank), always requested BT ($30K to $50K to other cards), did not ask for secondary cards, expressed interest in other product (credit card processing), 7 years in business, and 2 years at my current home. Typically asked for ~$50K credit line.
Summary: 22 cards applied 20 accepted (eliminate redundancies - $174K new credit) 2 other (Advanta redundancy and 5/3 doesn't service VA) $293K in business CL; expect $236K in BT
Cards (in order of application starting at 11 AM ET 7/30/2007):
CitiBusiness with TY Network (4)+ CitiBusiness (3) $7.5K GM Business Card by Chase (3) $10K BA Power Rewards Platinum Visa (3) $20K M&T Bank Visa Platinum Business (1) $20K National City Visa Business (1) $10K + $10K CLI Advanta Business (3)* Bank Atlantic (2) $25K Fifth Third (4) - does not service VA Chase Business Rebate (3) $10K Discover Business Card (3+) Advanta Platinum Business 2.99% for life (3)* $12.5K Advanta Business (4)* Chase Platinum Visa Business (3) $10K American Express Platinum Business (3) $19K Blue Cash for Business (AMEX) (2) $4K Amazon.com Busines Visa (3) $25K Platinum Business FreedomPass (AMEX) (1) $33K Capital One No Hassle Miles Business (2)* $20K + $2.5K CLI Capital One Business Platinum (4)* Gold Delta SkyMiles (AMEX) (3) $4K Chevy Chase Flexible Rewards Platinum Business (3) $10K
Results grouped by issuer:
$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)
$25.2K Bank Atlantic Business 15-months, 0%, $75 fee
$12.5K Advanta Business 15-months, 0%, $50 fee Advanta called and asked which card I wanted; then cancelled the apps for the other ones. Remember - apply for only one card here.
$22.5K Capital One Visa Business Platinum 12-months, 0%, $0 fee Cap One cancelled the approved No Hassle card and approved the orginally rejected Platinum card. Remember - apply for only one card here. Got a $2.5K CLI while doing BT
$35.5K CitiBusiness 12-months, 0%, $75 fee $28K CL reallocated from Citi Dividend Platinum personal card Remember - only apply for one Citi biz card.
$0K Discover Business application aborted; no new line offered Remember - reports to personal file for sole propreitorships.
$57K AmExpress 0% on purchases for 12-months American Express Platinum Business $19K Gold Delta SkyMiles (AMEX) $4K Blue Cash for Business (AMEX) $4K FreedomPass $33K
$20K+ BA Power Rewards Platinum Visa 12-months, 0%, $0 fee
$20K M&T Bank Visa 12-months, 0%, $0 fee They pulled credit 2 weeks after everyone else b/c of a technical error on their end. Still got good results!
$20K National City Visa Business 6- and 12-months, 0%, $0 fee $10K original line plus $10K CLI
--------------------------------------------------------------------------------------- (1) pending (2) instant approval (3) delayed approval (4) rejected + Discover would not grant new CL; only reallocate from personal CL, so I cancelled the application. They underwrite the business/personal lines together. Sole propreitorships get reported to personal credit file. Add Citibank to the list of issuers that only permits one business card application at a time. * Advanta and Capital One only allow one card per small business. I mistakenly applied for the Advanta Business twice.
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posted: Jul. 31, 2007 @ 9:28a
MikeR397
Senior Member - 3K
posted: Jul. 31, 2007 @ 12:13p
First, thanks for linking the business card thread to your business-o-rama. You appear to have a perfect opportunity to get some major business credit and many others will likely use this thread as a basis for thier business-o-rama's (so the link is in a good place). I'm anxious to see what kind of credit lines you get with those spectacular vitals. Good luck.
lhendricks92
Senior Member - 1K
posted: Jul. 31, 2007 @ 12:46p
bookmarked, mos def.
this should be REALLY interesting given the fact you're showing some pretty healthy personal balances. and how old are those inquiries? is this a business AOR follow-up to a recent personal AOR? do you have any business lines currently?
Nummerkins
Senior Member
posted: Jul. 31, 2007 @ 12:54p
Nice work. I've shifted the majority of my AOR money over to business cards to keep my personal CR clean (aside from the inquiries).
So far, I'm got most of it concentrated with Citi and Chase because of ease of consolidation. I'll have to look into the other issuers your applied with.
On a side note, Advanta absolutely refuses to issue me a card. They give a different BS reason each time. I've got 100% clean reports with 740-750 FICOs, so who knows. May try them once more.
lhendricks92 said: this should be REALLY interesting given the fact you're showing some pretty healthy personal balances. and how old are those inquiries? is this a business AOR follow-up to a recent personal AOR? do you have any business lines currently?The inquiries are fairly old - mostly related to a Fall 2005 mortgage application spree prior to buying a condo. All the TU inquiries have been b*ed. I thought EX was starting, but seems like a false start. I've been b*ing since May and recently added CS and IP while cancelling TC.
I've never done a personal AOR; just taken advantage of offers from time-to-time. I didn't have any business lines prior to this 7/30/07 AOR. Once b*age cleans up inquiries, I'm going to return to house shopping. My personal utilization is Discover 0% for Life (89%) and BA 0% for 12-months (89%).
Let me know if I can provide any additional information.
TheWalL
Senior Member
posted: Jul. 31, 2007 @ 1:38p
pulling up a chair to watch this one closely...I'm considering a 3-4 biz apps in a month from now. This should provide good pointers
vaylon
Senior Member - 1K
posted: Jul. 31, 2007 @ 5:07p
You applied for 21 but only have results for 7, Are the rest still being processed?
vaylon said: You applied for 21 but only have results for 7, Are the rest still being processed?According to most of the sites, processing can take up to 30 days. I'll wait 1 week and then call. Patience is a virtue with which I am not blessed.
markkundinger said: I'd wait two weeks.Will do. I am planning on initiating the BTs on the cards as they arrive since most, if not all, won't report to personal credit file, having little impact on any late pulls performed by the above companies.
justshawnf
Addicted Member
posted: Jul. 31, 2007 @ 11:35p
When I applied for Discover Business, they did a soft pull on Experian, but no hard pulls at all. I do not see the business card on my personal credit reports yet (TrueCredit & CreditKeeper) but to may be too soon. Now, I did not have a personal Discover card with them like you did. I had also just applied for and received a DUNS number from D&B for my consulting business (sole proprietor), so I don't know if that played into it at all.
I guess I'm wondering why you think they underwrite the personal and business lines together. Did a CSR tell you that?
Then again, I may be in for a rude shock when the Discover line hits my personal credit file.
dr84
Senior Member
posted: Aug. 1, 2007 @ 12:11a
Been thinking about an all Biz AOR myself, so thanks for posting. You only claimed $2,500 in business income? Do you think they wouldn't believe you if you said $10k?
highmktgoods
Senior Member
posted: Aug. 1, 2007 @ 1:27a
I've looked at some of these cards, and you might have problems applying for so many AMEX cards at once. Also, the chase cards may pose a problem (GM Chase, and Amazon.com included). Further, the AMEX Freedom seems to be a 0% on Purchases. Are you using google checkout, or did you have a link that gives 0% for BTs variant of the card?
I'm using this list as a template for my wife's business AOR (788+ on all three CRAs), but those are the (IMO) obvious problems.
justshawnf said: When I applied for Discover Business, they did a soft pull on Experian, but no hard pulls at all. I do not see the business card on my personal credit reports yet (TrueCredit & CreditKeeper) but to may be too soon. Now, I did not have a personal Discover card with them like you did. I had also just applied for and received a DUNS number from D&B for my consulting business (sole proprietor), so I don't know if that played into it at all.
I guess I'm wondering why you think they underwrite the personal and business lines together. Did a CSR tell you that?
Then again, I may be in for a rude shock when the Discover line hits my personal credit file. Yes, I spoke directly with a credit analyst for about 10 minutes to discuss my situation. Since it is a Sole Prop. with the SS# as TIN, both my personal and business accounts receive one "exposure" level, which I seem to have already exceeded. There is little doubt that Discover is one of the most conservative issuers, which the rep confirmed and empathized with me.
dr84 said: Been thinking about an all Biz AOR myself, so thanks for posting. You only claimed $2,500 in business income? Do you think they wouldn't believe you if you said $10k?
Honesty is the best policy. I have a 1099 for consulting for $2,500 last year, so it's fully supportable. Look at MikeR397's thread linked at the top of this post for more discussion. You should list ZERO if that's the truth.
highmktgoods said: I've looked at some of these cards, and you might have problems applying for so many AMEX cards at once. Also, the chase cards may pose a problem (GM Chase, and Amazon.com included). Further, the AMEX Freedom seems to be a 0% on Purchases. Are you using google checkout, or did you have a link that gives 0% for BTs variant of the card?
I'm using this list as a template for my wife's business AOR (788+ on all three CRAs), but those are the (IMO) obvious problems. I was approved for two of the AMEX cards instantly, so let's see what happens - I'll keep you updated. I'm not sure about the AMEX Freedom card - I thought it was on BTs and purchases. My eyes got tired reading all of those T&C I can always consolidate it to the other AMEX cards...
Please share your wife's experience and I'll put in a lessons summary in the QS when all is said and done. Thanks!
highmktgoods
Senior Member
posted: Aug. 1, 2007 @ 11:14a
Venturion said: highmktgoods said: I've looked at some of these cards, and you might have problems applying for so many AMEX cards at once. Also, the chase cards may pose a problem (GM Chase, and Amazon.com included). Further, the AMEX Freedom seems to be a 0% on Purchases. Are you using google checkout, or did you have a link that gives 0% for BTs variant of the card?
I'm using this list as a template for my wife's business AOR (788+ on all three CRAs), but those are the (IMO) obvious problems. I was approved for two of the AMEX cards instantly, so let's see what happens - I'll keep you updated. I'm not sure about the AMEX Freedom card - I thought it was on BTs and purchases. My eyes got tired reading all of those T&C I can always consolidate it to the other AMEX cards...
Please share your wife's experience and I'll put in a lessons summary in the QS when all is said and done. Thanks!
OK, so I wasn't missing something when I saw that several of the cards were 0% on purchases only. Your idea of consolidation is a good one if it will work.
I took your list as a template and sat down and applied for as many as I could using my wife's credit and with her permission (except those which were for 0% APR on purchases only.) I can list her results as I get them. My wife's credit is excellent, she had 1 inquiry on 2 of the three CRAs, and 0 inquiries on the other. Her existing lines are high (over 15K) on all but her JCPennys card and a chase card. So I'm very interested to see if they work out. She was instantly rejected for the BoA Power Rewards Plat. Visa, reason coming in the mail.
Also, I applied for those cards in the order you presented them.
Does the CAP 1 Biz card report on personal credit reports? I know AMEX does NOT, thankfully.
aimnasa
Thrifty Member
posted: Aug. 3, 2007 @ 12:22a
Venturion, do you happen to have a copy or scan or screen shot of the BoA Power Rewards showing the NO BT Fees? Stupid me didn't save my application that showed the No BT Fees and now they tacked a fee onto my recent bt so I am having to wait on a supervisor call back to see how to handle the situation.
MikeR397 said: First, thanks for linking the business card thread to your business-o-rama. You appear to have a perfect opportunity to get some major business credit and many others will likely use this thread as a basis for thier business-o-rama's (so the link is in a good place). I'm anxious to see what kind of credit lines you get with those spectacular vitals. Good luck.
Mike is one of the biggest advocates for business lines as we all know. Green for both your post(s).
I have had mixed results so far with business lines I reported $0 income and 0 years in business for my AOR.
MikeR397
Senior Member - 3K
posted: Aug. 3, 2007 @ 9:32a
jackcrawfish said: I have had mixed results so far with business lines I reported $0 income and 0 years in business for my AOR. Well my theory is that if you apply for 8 business apps, and get 2 of them approved with 20k of total credit, thats 20k of new credit you were not going to have otherwise (plus the benefits of it being business credit). (Also, see my recent posts in your thread here I'm sure everyone will not all experience excellent business results with the $0 income/0 years in business, but it does show people that if your personal credit report is good enough, then there is a potential here, which was my main goal.
PS: Congrats on the 20k Bank Atlantic line, who cares about discover lines, they are paltry .
Question on the CapOne...were you responding to a pre-approved offer? My wife just applied and she got the minimum line. (Her credit profile is similar to yours.) Even requested a fat 20K BT. Granted, this was at the end of a massive A.O.R., but c'mon!
lhendricks92 said: Question on the CapOne...were you responding to a pre-approved offer? My wife just applied and she got the minimum line. (Her credit profile is similar to yours.) Even requested a fat 20K BT. Granted, this was at the end of a massive A.O.R., but c'mon!No - I have never owned a Capital One card - not for lack of junk mail. I just applied through cardselection.com on a whim. Sorry to hear your wife got the measly line. I am guessing HHI is the biggest factor?
The BankAtlantic card app link I've found requires an Associate # Id on it. Did you just leave this blank?
https://www.juniper.com/app/japply/WebAppGate.jsp
lhendricks92
Senior Member - 1K
posted: Aug. 7, 2007 @ 4:57p
Venturion said: lhendricks92 said: Question on the CapOne...were you responding to a pre-approved offer? My wife just applied and she got the minimum line. (Her credit profile is similar to yours.) Even requested a fat 20K BT. Granted, this was at the end of a massive A.O.R., but c'mon!No - I have never owned a Capital One card - not for lack of junk mail. I just applied through cardselection.com on a whim. Sorry to hear your wife got the measly line. I am guessing HHI is the biggest factor?
random, i guess. HHI of $125K, big lines with other issuers.
Good news: 1.) Able to transfer $26K CL from Citi Dividend Personal to CitiBusiness. 2.) $24,950 BT from Bank Atlantic to Citi in one transaction without problem!
Only had to call once for both. #1 above executed overnight. #2 above executed in three business days.
MikeR397
Senior Member - 3K
posted: Aug. 9, 2007 @ 8:29a
Congrats on braking the previous 20k Bank Atlantic BT limit. Hopefully they have finally got rid of that stupid limit. This is turning out to be a great business AOR. I'll put a link here in the quick summary on my "how to do a business AOR page".
Venturion said: They underwrite the business/personal lines together. Sole propreitorships get reported to personal credit file. Add Citibank to the list of issuers that only permits one business card application at a time.
Great post... just wanted to comment on my experience... Discover Biz did/does not report on my personal (I am almost positive I did sole-prop, but may not have, since they are a pain to get approved by, unless you have phone registered, etc)....
Also I have successfully gotten 2 citi biz cards (also for sister)
babaamit said: Also I have successfully gotten 2 citi biz cards (also for sister) Very good to hear! Can you comment on which 2 citi cards and any pecularities on when/how you applied for them? I applied for CitiBusiness and CitiBusiness w/TY Network on the same day via the online application. I got a letter stating something to the effect that Citi noticed I already had one app under consideration; consequently the second app would be terminated.
The Citibusiness BT terms struck me as interesting, so I'm posting them:
"If, within 12 months from the date of account opening, you make any balance transfers in response to the solicitation offer you received, this rate [0% in table] will apply to those balance transfers for 12 months from the date of that first balance transfer. After that, the purchase rate will apply."
1. Delta Biz - $3K 2. Blue Cash Biz - $4K 3. Platinum Biz - $19.8K 4. Platinum FreedomPass Biz - $33.5K
AMEX has offered to reallocate credit lines. The problem is that all of them have crappy BT rates. The best is 4.99% for life. Any suggestions? Thanks. I have an existing Blue Personal card in case that information is useful.
Venturion said: Okay - I'm in a snafu with American Express. Got four cards:
1. Delta Biz - $3K 2. Blue Cash Biz - $4K 3. Platinum Biz - $19.8K 4. Platinum FreedomPass Biz - $33.5K
AMEX has offered to reallocate credit lines. The problem is that all of them have crappy BT rates. The best is 4.99% for life. Any suggestions? Thanks. I have an existing Blue Personal card in case that information is useful.
.. but why did you apply for cards with crappy BT rates? Utilization is not of much importance on business cards... bonuses? In this situation, I'd reallocate (or, rather, consolidate) to 1-2 cards that have the benefits (points, etc.) that suit you best and close the other ones (hey, it's Ok to close business cards, isn't it?!) 4.99% BT rate will only be viable to you (with the HHI you indicated) when HYS APY go above 8%.
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...
lhendricks92
Senior Member - 1K
posted: Aug. 10, 2007 @ 6:24a
Venturion said: 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...
That's the way to go. If an Am.Ex FR wouldn't cause you much headache, then go for it.
Personally, I'm inclined to use Am.Ex crack solely to create one or two lines with big credit limits and no utilization. But that's just me.
warning: Bank Atlantic Biz will not process nor notify you if you exceed the credit limit given in your BT request. you will have to call in and yell at them to re-balance transfer at the original $75BT 0% for 15 months. They require your BT be $250 less the CL even though the fee is $75 fixed.
don't wait man.
Skipping 17 Messages...
brokestudent
Broke Member
posted: Sep. 4, 2007 @ 1:59p
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
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