Sole proprietor, 5 years in business, new DnB# 1 company reporting No EXP business file No EQ Business file Business phone line and a real business address
Although it's still to early to tell
FNBO BIz deffered (2-4 weeks message)- approved 12,000 they pulled TU and EQ (EXP frozen) maybe they tried!!!What is interesting is in SEPT I was denied for the BIZ card and denied for a CLI on my personal FNBO card.
We shall see how it goes
CITI business PP deferred
Discover BIZ deferred
(I called personal discover and the CSR said I can have 3 discover cards with them) and that sams and WalMart are different discover cards and do not count YMMV!!!!
BankAtlantic- AirTrans business card deferred
Citi AA deferred
CITI BIZ with TY deferred
Chase Prof. Pre-approved deferred
UsAir Dividend miles deferred (20,000BT)
BofA USAIR deferred
FNBO BIZ deferred approved 12,000
Chase UPS expired Pre-approved deferred (offer still good) 0% 12 mnths 9.9 after (website is like 12.75 after)
PNC BIZ deferred
1st EQUITY Card deferred it had a targeted offer for my biz on it's website, so I filled it in (I think they send you an application) wierd
M&T bank deferred ( a few days late but I understand they don't mind INQs)
Lowes in store NO PG denied (cashier screwed up the app and submitted with PG, I XXXXed out the PG section)some peoples kids!!! after I got home, I called and they said to resubmit online
Lowes online app NO PG Deferred (online app says if NO EIN you must PG) we'll see
This is like a test run, I don't want to many new personal cards. I don't see any pulls for CITI, PNC, DISCOVER. Since I just froze EXP maybe I can convince them to pull another because I haven't gotten my PIN to unfreeze yet????? I don't have to only apply for CAPPED FEEs because my BIZ can put the money to work by charging what I would have paid cash for. So even if I have to pay a few % I'm OK with that. The most important thing is to hide debt off credit report.
I will AOR all year, my goal is to have a few 100,000 of BIZ reporting credit and a few 100,000 of BIZ credit cards, Then I will do a Personal AOR after my EXP INQs age and maybe get some credit union cards ( NASA, PATELCO)
To enter a coupon code in your post please enter the following info:
Coupon Code:
Coupon Offer:
Merchant:
Expires (optional):
Restrictions (optional):
saving...
APPROVED
FNBO deferred approved ----->12,000 0% ON PURCHASES 12 MONTHS
AMEX blue CLI 3,000 to ------>15,000 0% BT 9 MNTHS
CHASE PROF. --------------->20,000 0% 12 MNTHS
BofA US AIR ---------------->TURNED OUT THEY APPROVED FOR A POWER REWARDS CARD
BofA personal CLI 3,000 ----->10,000
CHASE UPS ----------------->15,000
BofA plat BIZ power rewards ->10,000
M&T bank Defeered, denied. RECON approved ------>5,000
Dell citi instant ----->5,000 NO PG
Office Depot instant ----->250 NO PG
Lowes/gemb deferred approved 2,500 NO PG(1st app was ran with personal guarntee "DECLINE")
Staples for sole prop-------->750 NO PG
Staples for LLC ------------->750
Office Depot for LLC ----------250
Office Depot for sole prop ---->250
Nebs --------------------------->300 after 1st purchase NO PG
Amazon corp account approved---->3,000 NO PG
Sams club instant ------>5,000 NO PG
SHELL GAS CARD ---deferred------>750
Chevron revolving approved _____1,000 NO pg they pulled personal to verify my identity, I disputed the INQ
EXXON GAS CARD ---DECLINED:(
Shell approved ------------------>750
Exxon approved ------------------>750
WalMart Biz ---------------->1,500
Suntrust bank SP------------------>5,000 This is my Bank, I guess seeing 500,000 a year go thru doesn't mean shit!
Advanta SP ----------------------->2,500 yuk
CRAP1 SP ----------------------->5,000 but still processing
U.S. Bank SP --------------------->10,000
U.S. bank LLC skypass 17.49% YUK-->15,000 I'll try to move it or see if it reports and then keep for utilization
DECLINED Barclays AirTrans deferred/ declined (sufficient credit on juniper account) Barclays CLI 500--> IN NOV 07 DECLINED In JAN 08 CLIed angain 500-------->20,000 approved within 24 hrs. Barclays Us Air Deferred/Declined (suffucient credit on juniper account) Juniper is personal!!!!!
I'm not sure if the FWFers understand that you can get up to 4 CITI BIZ cards for each corporation (this is why I'm putting my approvals for BULL$HIT lines like, Office Depot, Staples, lowes and the like.)
For example: I got approved for 2 Staples accounts this week, 1 for sole proprietorship and 1 for my LLC. They didn't even see that I had 2 accounts!!!!
Office Depot- approved $250 (1 for each BIZ = 2 accounts)
As of 2/21/08 over 250,000 in new credit lines since 9/15/07 TOTAL 412,000 in credit lines
Message edited by: win333 on 2008-02-23 13:41:00 CST
I know this is in hindsight, but if I were you, I would have done in the reverse order, in the following sense:
1. AOR for business apps, 2. B*, 3. Wait, 4. AOR for personal apps.
The reason for putting Biz first is simple:
- even though B* clears all your inquiries, the newly approved personal cards will show up. Furthermore, the newly approved cards will show up on all 3 CRAs. Once the new cards show up, issuers will take note (expect some of the issuers to reject you with the following reason: too many cards opened in the last 12 (24) months, etc),
- also, if you did an AOR and took large BTs, and these are showing, your credit score is hurtin. If Biz was first, these won't be showing. In other words, your personal credit is pulled for both Biz and Personal apps, but the Biz debt does not show on personal (kind of like a one-way lookup) - hence the benefits in going Biz first,
The reason for waiting are the following:
- I suspect that as a result of clamping down on B* (see the threads on TrueCredit account closures, etc) some of the CRAs are marking the credit files for excessive account review inquiries. Your own pulls that cause B* are probably coded as account review. When the software defers your app, the analyst is going to pay closer attention, and might catch onto the fact that there is B* going on,
- if you got a Biz card or two from issuer A, and wait a little bit before getting a personal card, the short, but positive payment history from the Biz card might provide a bit of an advantage.
This is a work in progress, but as I started getting into this game heavy last month, I thought after you have 20 new personal accounts then most lenders are scared off. Since I owe 1.6 million on property its a little hard to prove to a lender that I am worthy. Equity and income are good, but tax returns look screwed up (depreciation and writeoffs)
So my 1st AOR was pers. + BIZ, 5 new personal to CLR for bigger limits to impress, for the up coming BIZ AOR. Since I have a business I don't have to have the capped fees that are disappering on biz cards.
I don't think this is the most perfect way, BUT I figured if I can AOR all year on the BIZ side than maybe in the long run it is more profitable????? Also I have to keep my personal file clean for REFIs of rental property and projects. But soon as I get the REFIs done and EXP INQs age. Then i'll still have the personal AOR to do.
Mikawl said:Can you post what your credit scores were before your personal AOR and what they were right before you did the business AOR?
Also, what did you list for household income?
Thanks.
Personal scores were pretty bad in sept because of a 6 1/2 year old verizon collection that was removed in 2003 but showed up again in may07. So my scores were 670s across the board. I did just over 30 apps, but with the new collection I only got 50,000 in new lines. My scores dropped between 625-635. I've always had alot of INQs before FATWALLET
after B* and CLR and then I was able to remove the collection (all 3 reports). So after B* myFICO's TU775, EXP694, (FAKO)EQ713 on my report I have 2 mortgages and 3 that haven't updated for 3 years. I haven't been able to get my scores above 690 for 5 years, since I started my business.
So even with 5 new personal accounts, my scores where higher than ever.
Since I have a BIZ HHI is high 611,000 and my income 355,000. But you'd be suprized at how much they don't care, they want the scores.
I've only gotten 1 credit line of 25,000(chase) and that was 3 years ago, most lines were 5,000 to 10,000. So even with that income, I can't get more 25,000 or better lines. But ofcourse I'm paper rich and cash poor, I keep my money tied up in my realestate. So I can't whip out a bank statement with 100,000 on it.
But I am learning thanks to FATWALLET and others. I've always used my cell phones for my business but last week I finally gave in and got a business line and last month my DUNS #. I think it's making a difference (they can find me if any doubt) on 411 or DnB.
Getting the collection off the credit report probably made a bigger difference than anything in improving the credit scores.
In an ideal world, that's the sort of thing you want to take care of BEFORE doing apps. I bumped into a very similar issue at the beginning of my first orama
Something SuperCreditMan told me about TU INQs happened on my TU. He says if you get 2 or more INQs from the same lender on the same day (and coded the same) TU will combine them automatically.
Well my 2 Barclays Bank INQs are now 1, but I also lost an FNBO INQ from a few days ago?????? I am not using heavy B* yet.
Also I checked my app status online for Barclays (???) not sure which app, I have 2 in. But it say DENIED sufficent credit with juniper!!! I have a 2,000 personal and a 500 BankAtlatic . Even with the collection gone, they just don't like my report!!!!
On a brighter note, I just CLI my 1 month old AMEX BLUE from 3,000--->15,000 should I try my other new AMEX PLATINUM???? or would that be pushin it??? Feels like it's on crack. looks like AMEX didn't pull a soft on exp for the CLI.
Anyone have an opinion of what to do with JUNY/barclays The 500 is a joke but it's biz credit so it doesn't hurt my report. But the 2000 is making my average card just under 10,000 on my report. I'm thinking of just closing both of them???
markkundinger said:Getting the collection off the credit report probably made a bigger difference than anything in improving the credit scores.
In an ideal world, that's the sort of thing you want to take care of BEFORE doing apps. I bumped into a very similar issue at the beginning of my first orama
But In the 1st half of the year my scores wouldn't get above 700, I was trying to do a cash out REFI, so I did get all my CC debt to (0) for the best score. my average FICO was 682. I guess if I knew about B* then maybe the score would have broke 700?
I would have taken care of the collection before AOR but it looked like it was going to stay!!! I got lucky I guess. (FREAKIN AFNI)
But yes the Collection being removed was a big part
win333 said:On a brighter note, I just CLI my 1 month old AMEX BLUE from 3,000--->15,000 should I try my other new AMEX PLATINUM???? or would that be pushin it??? Feels like it's on crack.I'd recommend caution on the AM3X Platinum CLI for now. You've got a lot of recent activity, and you really don't need an AM3X FR. AM3X can be your very good friend for many years to come, don't jeopardize the relationship now.
I got the declined letters for the barclays (airtrans BIZ and us airways BIZ)
sufficent credit available on juniper account??????
My juny is for 2,000 WTF!!!
I just can't get in the door with them, I don't see it as being worth haveing another new line on my personal report for 2,000. So I think i'm going to close the (bank atlantic 500 and the juny pre-approved up to 5000 = 2,000 CL)
just called the chase app line, it said " approved for 20,000 at 0% then 8.99%" this must be the chase professional? and still 1 app pending which was another targeted offer, UPS 9.9% and 0% for 12 months.
Both of these apps came within weeks of getting a biz lic. for my corp!
Only problem is I fiiled them out with my soleproprietorships name I guess it doesn't really matter.
Everytimg chase gives me a new card (since getting my 25,000 personal card) they as for bank statements. But now they don't, I think it's because of the new business phone lines and the new DnB #....
WOO HOOOO Man I'll have 10 corps by the time this is over!!!!!!!
I think what most don't realize is this, When you apply it asks for income and or HHI. Well when they check DnB YOU CAN PUT ASSETS. which will show this isn't a little joky start up.
I just DIS. 6 E_Q --------I_N_Q 2 days ago and now they are POOF. I went from 6 to 15 now back to 9.
When I call the chase app status # it says the PROF was approved for 20,000 and nothing on the 2nd app yet!
Citi= I applied for 3 of the CITI BIZ cards I don't have, but this time using my DUNS# all 3 were DECLINED because of a 6 1/2 year old collection
When my new corp. accounts report I'll hit them again. How SILLY, They said they only look at a collection if it's less than 2 years old. But I disputed it last month (verified) 10/07. So their using that for the denial. HOW LAME.
I called bofa last night and still no answer on the US AIR app (I'm sure they want me to keep my 31,000 17.25% biz card)
I did follow the thread (((BOFA ON CRACK) and got a 7,000 increase on a card I had CLR to my merril card (I had left 3,000 on it in the hopes that 1 day I could CLI it) who'ed of thought I could CLI it the next month. HA HA HA now it's 10,000
Let me explain this before someone tries the INQ thing!!!!
I have a P.O.BOX as my main ADDY on my credit report. But when I apply I use my home ADDY, so I think what is happening or may be helping is this EQ uses ADDY big time in matching people to accounts, So If I say it's not my INQ then when they look there is a different ADDY.
So I think they just delete it. I even put my phone# on the dispute and noone even calls
I would also advise EVERYONE, when you apply your job title is always president. If 1 creditor reports that, it will stick for a long time.
EXAMPLE, I was an employee for a Billion dollar company, I also started my own biz and am the president. Well thanks to EQ, my previous employment is PRESIDENT of said billion dollar company. HE HE HE
I don't know if it help, but people have talked about the "VIP treatment"
almost forgot, Discover wants to see my frozen EXP. Well I'll just wait till the INQs are gone and then tell them I don't have the code yet, BUT TU AND EQ i unfroze with the click of my mouse. "can't you just check 1 of those" I don't know what is taking EXP so long to mail me my code??????? Damn I bet I NEVER get that code!!!!
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
. Even with the collection gone, they just don't like my report!!!!
