Best Bank for 4 biz accounts & credit card lines?

[Anonymous]

I have 4 small businesses. All my business and personal accounts are with TD.

I have 4 business cards [3 for the same business are Amex plat, Amex business and Citi Costco and 1 TD business solutions for another business]

After discovering Myfico I realised  that TD business cards report to personal  and am thankful that i did not apply any more business cards with TD.

I want to move my business accounts to another Bank where i can maximize my long term credit card lines of business cards.

I am not going to apply for any new credit cards for a 3 months as I just completed an app spree with very good results.[Thanks to all of you at myfico]

Which ones would you recommend?

Chase ,Citi , BOFA, any other....

[CreditJim]

You don't have too many choices if you want everything under the same roof with the same bank. Chase is probably the best option, that's who I use for my two businesses, because they have the most small business credit card products, with good rewards and they don't report to personal. The other option of course, if you like your current bank for your checking needs, is to leave those accounts there and then just pick the best business credit cards for your needs. If you've just been on an app spree recently you might be out of luck for Chase cards for a while if you're over 5/24. But you could still look at Amex. Citi only has a couple of business cards.

[Anonymous]

Thx CreditJim.

Actually, i would prefer not to have everything under same roof.

I have no inquiries with chase since 2006- i have a chase personal card since 2006 with 6500 limit[ <3% utilization].

This is what I was planning;

Keep current TD checkings going  

and

Start a banking relationship with Chase, Citi, Bofa banks with 1 biz account each.[with the bonuses]

I already have personal cards with all of them.

Another option :Credit Unions for business accounts and biz credit cards?

I had a great experience with my local credit union for my HELOC and they have business banking too.

Is it advisable to build a business relationship with the same credit union where one has HELOC?

[CreditJim]

Moving checking accounts for 4 different businesses will be a real hassle, so if you're happy with the business checking at TD I'd personally leave it there. With regards to getting a business credit card with Chase, they look at how many accounts you've opened anywhere in the past 24 months, not how many inquiries you have with Chase. Search on here for the Chase 5/24 rule if you're not familiar with this. If you've opened less than 5 new accounts in the past two years, then my advice would be to apply for a Chase business credit card FIRST.

[Anonymous]

Thx for the clarity on chase 5/24.

I have opened in the last month[also in last 24 months ] Costco citi, Bofa.penfed plat, Nfcu cash rewards visa and CLOC yesterday..

Does Mortgage refinance and Heloc also count?

Seems my best shot is to apply for Chase business first..

EX 798 TU 769  EQ 770  utilisation 9%

Saphire or chase ink ?which has a better chance 

[CreditJim]

Sounds like too many recently opened accounts for Chase, but if you're willing to sacrifice an inquiry you could try.

[Anonymous]

Thx for the calming advice CreditJim. I will pass - no need to sacrifice an inquiry.

Any insights on doing business banking with my local Credit unions..

[Anonymous]

Some Cu won't take biz  accounts.  Some Trade Groups have credit unions.  They way they do business is all over the place. One takes any  body not on Chex the other 1) No Chex and 2) Just to open checking with on line deposits   credit score over 750.    One question do you take credit credits and are looking for a credit card portal as well.

One business I once owned was a member of a trade group that cleared visa/mc/discover at 1% and amex at 2% That was great . They don't do it any more.  What you may need 1) checking     2) cedit cards 3) credit card clearing   4)  checking with on line banking. (this or #1) .    I would shop each part  for each store seperately. But mention they are part of 4.  I found some banks do not like certain types of stores and will NOT give them good rates just to run them off.      The bank I used for years determined last year they want people not stores and as a result it was almost impossible.  I still keep a small balance with  their bank is it  just 3 minutes from our store and sometimes I need change or a quick notary.   

[Anonymous]

I spoke with my credit union and the response seems welcoming.

This saturday i am going to Chase and my local Credit union branch  and open business accounts as long as there is no HP.

Will update on results.

[Anonymous]

Update :

1. Went ro chase branch-opened business account.[$200 bonus]

  Rep said you are approved for business credit card.

  Asked her to apply for Ink visa[80,000 bonus points]-approved instantly in branch for SL $20K.

2. Opened a business acoount in Local credit union.No rush to apply for business credit yet.