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09-30-2017 03:56 PM - edited 09-30-2017 03:58 PM
Boy I have learned a lot recently, especially with regard to business.
Score: 677 Fico
Inquiries: 4 within month, 3 previous from 2 years ago about to fall off
Business: Brand new, 0 revenue/etc
Personal Income: $90k
Used EIN (LLC + Social Security Number)
Personal Amex Relationship: 2 Cards (Gold + BCE) one month. PIF Gold 3 times, BCE was delayed, too new...took a month to receive. 1 Payment already on it that's it.
New Accounts < 6 Months (4 - 2 new installment loans, two new cc's showing - my 2 personal Amex's from last month have YET to show btw)
Initial Concern: Last month I applied for multiple cards to rebuild a thin file and have no need for personal for years to come. But I setup an LLC and I just needed something I could use for inventory and fulfillment after orders from a retail store. Originally wanted Blue Business but doubted I would be approved.
This was a hard pull. I re-locked my reports. While I am tempted to see if I would be able to get a S.P denial or approval for bluecash I don't want to rock the boat. I can wait a month or two. Let me know if you have any questions as I found it frustrating trying to gauge what would be the best foot in door with so few data points but, despite that, I learned so much from you all. I have all of you to thank, I really do. Once my personal accounts age, now that my reports are frozen and I plan to avoid personal credit til 2020, I can consider a stronger business card but I am thrilled to have a foot in the door with Amex business.
10-01-2017 07:05 AM
10-01-2017 09:14 AM
10-01-2017 09:43 AM
I do not know what is going on. It is relatively easy to get AmEx business cards. AmEx is pushing the PRG card heavily.
I think AmEx just pulls the personal credit to qualify for small business cards...
10-02-2017 10:16 AM - edited 10-02-2017 10:17 AM
Just an update, I was curious to see if I would qualify for the Blue Business. I was thinking that was a good starter business revolver with Amex. I wanted to see if it would use a Soft Pull. It did not, I unlocked experian, somehow they could not get access to it, so I unlocked T.U. Even thoug a higher score/etc denied. Said they'd submit for reconsideration. Perhaps likely wanting me to grow the green first or too many accounts (2 personal).
So that is fine but I am not sure we can gauge confidently when a new app is going to be a S.P, certainly not a S.P only denial, as I was given a H.P denial. I don't mind waiting and trying again later but I would personally like to see if I can pull off a S.P only denial but I am thinking that is never going to happen for me. It could very well be based on account length/other factors.
10-04-2017 07:05 PM
And yet another update...I was approved. $2k starting limit. Which makes sense, it matches my personal blue. WOW. It was denied, but the rep agreed to send it for their review and then they asked me to confirm my identity/business info (address/name of business). Surprised. Perhaps it was mostly an identity issue as I used an address I updated my llc with, whereas they had me on file with the previous address. So the H.P was not a waste I guess.
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