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Contributor
Posts: 104
Registered: ‎12-01-2012
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BBVA Compass Bank Secured Business Credit Cards

I am constantly on the prowl for (good) business banks that have secured credit cards, as a lot of them that did have these products, got rid of them during the banking/mortgage meltdown.

 

I know a lot of people are predominantly looking to secure a business credit card with no personal guarantee; and while that would be fantastic, I don't think we'll see that for a LONG, LONG time, if ever again. SO, in lieu of that, for those of us who are rebuilding our credit (for whatever reasons) and are in need of business accounts to maintain the division between business & personal accounts, I think the secured business credit cards are a good option. Plus, while I haven't contacted BBVA Compass Bank yet, I'm hopeful that if I do decide to obtain this credit card, this will go a long ways towards me building my business credit, and perhaps at some point it may unsecure. Regardless, I am excited to see a product like this from a (semi) reputable bank...I say that with a bit of sarcasm, as I don't believe most banking institutions are reputable Smiley Happy

 

Mods, if I can't input this link, please remove: http://www.bbvacompass.com/business/lending/credit-card/business-secured-card.jsp

New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: BBVA Compass Bank Secured Business Credit Cards

I agree.. These secured cards are very hard to find and very very few exist.. I think we will see more of these as banks catch to the fact that businesses actually want these.

but I'm surprised to see they only give you 90% of the deposit as a credit line!

Moderator
Posts: 13,897
Registered: ‎04-15-2011
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Re: BBVA Compass Bank Secured Business Credit Cards

I see no problem with the link.  Smiley Happy

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Frequent Contributor
Posts: 474
Registered: ‎04-09-2012
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Re: BBVA Compass Bank Secured Business Credit Cards

Thanks for sharing that.  I might consider this.  I've been in business one year and the problem I seem to be having with business credit is them telling me to reapply after I've been open two years.

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $6000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: BBVA Compass Bank Secured Business Credit Cards

Time in business is important but you can over come that with nice thick trades reporting..

Contributor
Posts: 104
Registered: ‎12-01-2012
0

Re: BBVA Compass Bank Secured Business Credit Cards

[ Edited ]

Shogun wrote:

I see no problem with the link.  Smiley Happy



Shogun wrote:

I see no problem with the link.  Smiley Happy


Thanks! I'm still new here, so I'm not sure what's acceptable or not to link to, so it's best to ask for removal if necessary!

I'm appreciating the board, and learning so much!

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Contributor
Posts: 104
Registered: ‎12-01-2012
0

Re: BBVA Compass Bank Secured Business Credit Cards

Hmmm, don't know why that quote was doubled. Smiley Embarassed

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