2 people starting a new business, best source of short term cash

[Anonymous]

So myself and my business partner have formed a new business.  We have formed an LLC and bank accounts already, all is good.  I have poor credit, he has excellent > 700 credit.  We are trying to obtain credit cards with low/zero % interest rates to pay for initial expenses between 10-20k.  I was wondering if there was any suggestions for personal or business credit cards that we should try as a strategy to obtain the best "startup" credit cards...?

Thanks for your help in advanced!

[Creditaddict]

a lot of the good options in the past have gone out of business... Bank Atlantic, Advanta, Capital one now reports to personal credit so wouldn't recommend.

American Express is still a great option for daily expenses but you would want to pay those off every month.

for carrying a balance, PNC, Chase would probably be best option... but I have yet heard of anyone actually getting approved for the Chase Ink products.

[Anonymous]

thanks for your response, really appreciate it.

we bank with bb&t and were denied for personal cards with them last week, although trying for a recon.  Next step was to try nationwide and citi products as I saw a lot of success on the main credit cards board but we haven't applied yet.  Do you think PNC would be better?  I like the way chase ink looks but yea word on here is no one gets approved...

[Creditaddict]

before pnc became national city, they were approving 15k business lines starting out... i got one and a couple other got the same.

PNC seems to be a little harder maybe but i would try them first, you can also recon if the computer denies you with an actually under writer which i enjoy

[Anonymous]

very interesting tip...

So your thinking skip the personal PNC cards and go for the business PNC card even with a business thats 2 weeks old on paper?  Or just go for the personal?

[Creditaddict]

I would always try business first and when it comes to cards like that they are simply approving based on personal credit any way so age of business will not matter.

[Anonymous]

So we applied for a few cards in this order:

bb&t personal - declined

nationwide personal - approved $5000 CL

citi diamond preferred - declined

PNC Travel rewards business - declined

Tried to do a recon on bb&t but they do not seem to have any way of doing this.  Any recommended Recon strategy for the other cards?  Thanks for the help everyone!

[Creditaddict]

talk to your personal banker at BBT and they can usually make a call to someone.

PNC you can call credit directly and recon with them.

[Anonymous]

the main reason we went with bb&t was so that we would have a personal banker who could make a call - but she informed us quite clearly:

"I have been working really hard to get a contact person for you.

Unfortunately there is not one you can speak to directly.

We don't have another offer available except the current promo. Once a decision has been made it can't be overturned. You have to wait 6 months to apply again.

I know banks are much harder/strict to get a credit card...BB&t is extremely conservative.

Have you tried to get one through another financial institution ?"

Do you have the backdoor number for PNC?  I looked on the list in the personal credit forums and I couldn't find this....

Thanks again for all your help!

[Creditaddict]

If I'm not mistaken this number transfers to PNC National City: 800-762-0974 (Credit Dept.) then you tell them your calling about business and they will transfer you.

with bbt, how about overdraft line of credit, did you get one of those... as you build your account I think your personal banker can increase your line themselves... it goes up to 7500.