Requested via call 1-800-950-5114 whith Kathryn $26,000 reallocation from Citi Divdend Plat Selct (31k-26k=5k left) to Citi UPromise card (4.5k+26k=30.5k). After several holds and brief discussions concerning my Business card needing the credit line reallocation (of course she said to call the business unit), she said to check in 24 hours to see if the request goes through.

Since that line was sooooo familiar to FW lurkers like me, I pressed on asking 'why it takes 24 hours?'
She said 'they have to be compatible.'
I said 'are they compatible?'
She said 'they are both Mastercard cards.'
I said 'OK then so you are saying Matercard to Mastercard makes them compatible?'
She said meek 'Yes' was her response.

I called back immediately and asked another rep to do the exact same thing (move 26k from Citi Dividend Plat Selct to UPromise). After a brief hold and an affirmative response on reallocation, she explained that she refers this to a credit review department for final say. She said I could check online in 8 hours to see if it went through or call back in as little as 4 hours.

We'll see what happens......

Edit: 2am 8/7 18 hours later nothing online has shown up.
Edit: 9am 8/8 nothing..... Asked to move $25,000 from div plat select to Business card. "Tamitchell" said it was possible. She put the referral in. She sd to check back in 3-4 hours to see that it went through.
Edit: 4pm 8/8 nothing..... Asked to move $26,000 from div plat select to Professional card. Rep said it was possible. She put the referral in. She also offered to move the other UPromise and ATT lines. I told her to move $4k of the UPromise.
Edit: 6am 8/9 ALL IS GOOD. MISSION ACCOMPLISHED.

markkundinger said:
Capone gave you an instant-denial? That's harsh. For a bank that pulls from all three credit bureaus, they shouldn't be so picky about too many inquiries.
The reason was not bureau realated... the link I was using was a stale offer-they never did a pull.
markkundinger said:
You applied for all three Discover cards at once? that might be a little too hardcore for them.
I had not done enough FW homework. Good thing is: only one inq from Disc.

I'm uncertain regarding what to do with AMX. Comments are welcome.
I made mistake in reallocation to personal card (I want higher personal lines for 2.0 and thought this would help that future cause).
What to do with $64K? Is $30k check to spouse too much? Would it draw a FR? Or am I doomed for a FR already with a limit over $25k?

Short-n-sweet: I was approved for $8,000 on the Chase Biz app. Told personal lines cannot be moved/co-mingled with business lines.

Detail: Called for the status of my Chase business app. Was transferred to what I was led to believe was the "lending" dept which needed some added information regarding the app (remember I report 0 years $0 revenue?) When the transfer went through I heard Chris answer as the Fraud department (uh-oh).

After briefly explaining what information I was looking for (app status) he placed me on a lengthy hold. He said the app needed a tax id. I said I am a sole proprietor and as such am using only my ssn as I will file this years tax return. After 11 minutes on hold again he abruptly transferred me to "Lending Services."

In less than 40 seconds, I discovered the $8k with no reallocation option (I'll call back later to try again as I understand per this link the reallocation is possible.)

VerbalK said:I put in an online CI increase on my Chase Biz. It appears that they didn't take another credit report. I went from 8 or 9 K up to 19.5 (which is what I requested). It took about 12 hours to show up.
Thanks for the free advice, VerbalK. Should I request a CLI? make a second attempt at reallocation? or both? hmmmmm BOTH I think. For others watching my inaugural run of apps, see this link regarding Chase reallocation from consumer to biz.

jackcrawfish said:VerbalK said:I put in an online CI increase on my Chase Biz. It appears that they didn't take another credit report. I went from 8 or 9 K up to 19.5 (which is what I requested). It took about 12 hours to show up.
Thanks for the free advice, VerbalK. Should I request a CLI? make a second attempt at reallocation? or both? hmmmmm BOTH I think. For others watching my inaugural run of apps, see this link regarding Chase reallocation from consumer to biz.

Be careful with Chase CLIs if large balances are showing on your CRA files.

Chase might approve you for a card automatically, but then when a someone from portfolio lending reviews your portfolio with them, you might run into consequences, as documented in the Chase adverse action thread.

MikeR397 said:jackcrawfish said:I reported $0 income and 0 years in business for Discover Business Card. They called asking exactly how long I had been in business. I said I just started a few days ago. I'm pending currently but will be declined unless I can get Discover proof of business with e-bay sale(s) within 30 days. Any suggestion on what might sell quickly?I also haven't been asked for any proof for discover business. If you cannot come up with anything, tell them you are a new company and you need this credit to allow you to purchase some of your inventory and capital expenditures. If they have beef with it, so what, don't give them you business (ahh, or them really giving you their business, since you are the one profiting here (just do the best you can).

PS: I wouldn't get too stressed about Discover b/c they often give some pretty small lines. They were fairly stingy with all my family's apps despite high vitals and with my dad who has a legitimate business for 6 years with 60k revenue, they only gave him an 8k line. Arseholes.

I never told you... When I was first denied, the rep told me that if I faxed hard confirmation of my new business they could look at re-reviewing the application. I faxed them E-bay account and pay-pal account information showing my dba as fname lname. I called the credit department 8/8 asking to confirm receipt of the "documentation." They seemed surprised I even faxed the information (they never actually confirmed reciept). After a lengthy back and forth regarding how I'll execute my business plan, she said in the end I need a business license to get approved but that she would refer this app to her manager and "restart the application for me."

Voila! Tonight an email arrived stating the biz card is on its way! CL 3.5k! Reallocation from personal to biz submitted 8/10 9 AM cst.

Dang! Although redundant, thanks Mike for your leadership with respect to business card apps!

jackcrawfish said:I added my game plan v1 in the OP. I hope to stick relatively close to this investment plan (unless I can get Citi to reallocate to the CitiBusiness card from the Professional and/or PremierPass.)

Veterans... where am I amiss? am I too conservative? too aggressive? Is my 6mo/12 game not going to work? Love to hear it.

Well, I'd definitely go 89% on personal BOA and CITI cards. Chase I'd go 89% too, but every now and then Chase gives some trouble to people (or so I read at FWF) -- so, what you're doing is, perhaps, Ok, except that it will take a couple of months to just pay back the $75 fee ... AM3X is touchy, so 45% is probably Ok. Others -- just calculate the difference of you earning in the current scenario and the 89% initial utilization scenario and see if it's worth the risk.

Do you have other cards (that you're not using) to bring your overall utilization down to about 50% (assuming you're going 89% on more cards)?

jackcrawfish said:I called today for M&T app update because I entered my SSN as the EIN. I wanted to ensure the app was OK. I think since I listed my name with no "fname lname, Inc.", the status was pending as it was hung up on my DBA (I simply listed first name last name). They are continuing processing hopefully turns ok.

Edit 8/8/2007 : Approved for $10,000. They said "promotional" checks are included with the card carrier. I may just try this first if it works out as well for gorenbeinx as it did for lhendricks92 (Thanks for the data point, lhendricks92!)

lhendricks definitely snuck one past them, because this didn't work for me. I called about 10 days after requesting the BT to HSBC savings through their website and was told that the transfer was denied because I didn't supply a 16-digit credit card number. I had them BT to Citi Business and it showed up in 3 business days.

You must be from California, Vermont, Rhode Island or Maine. National City Business recently stopped taking applications from people in these states.

cyberkost...Do you have other cards (that you're not using) to bring your overall utilization down to about 50% (assuming you're going 89% on more cards)?
No Other Cards

Venturion......thanks for sharing the M&T experience...will call on based on your info.
My pleasure. I only hope some of what I add is of value to future "investors"

gorenbeinx...You must be from California, Vermont, Rhode Island or Maine.
South Dakota

markkundinger...I'd call your utilization plans moderately conservative
I have added plan "2" in OP modified slightly in light of all comments received

Thanks to all for the feedback. green for everyone