@Broke_Triathlete wrote:I'm going to start my own company here in the next few weeks (filling out my entity formation form as we speak) and was thinking what the best business card would be. Automatically my mind goes to the Spark because Captial One has been very generous for me, but I know there are others. All of my relevant information is in my signature and if anything else is needed please let me know! Thanks as always!
Go with Spark, ti's great.
Only negatives are:
-Cap One usually pulls 2 or 3 bureaus
-Account reports on your personal credit
@Anonymous wrote:
@Broke_Triathlete wrote:
@Anonymous wrote:
@Broke_Triathlete wrote:
@Anonymous wrote:This thread will eventually be moved to business credit where you should look for suggestions.. Personally I'd look at cards from Chase or Amex first before Capital One. Unlike all the other business credit cards CapOne reports to your personal credit and most people find the hidden trade lines of other cards to be beneficial.
Wow I didn't even realize we had a business section haha. I guess that shows I have tunnel vision huh? So does Chase or Amex base decisions on personal things such as a BR or the 5/24 rule for Chase?
No biggie, a mod will move the thread there eventually. A lot of people don't realize that there is a forum for business credit. Yes, all these cards are going to be based on your personal credit as your personally guaranteeing the account so a BK will affect approval chances just the same as it would if you were applying for one of their personal cards. Sadly at the end of May Chase added their business cards to fall under the 5/24 rule.
Thanks for the reply Irish. So that limits a lot of what I can do. I have to wait until March of 18' for Amex's 5 year BR rule, and I think I've had more than 5 credit accounts in the last 2 years. So other than Cap 1 I wonder what the others would be? I think in my case a card reporting on my personal would be good, except for the whole separation thing between your company and personal...haha.
In terms of major creditors there are few others with business cards like BoA and Citi has an AMerican Airline one. There is nothing wrong with the CapOne card if the personal reporting doesn't matter. It's just nice to be able to run up a balance if needed for business and not have it affect your overall utilization.
Thanks again for your help. BOA was included in my BK and Citi denied me for Best Buy a while back because of a negative student loan account (60 day late).
Personal:
@SouthJamaica wrote:
@Broke_Triathlete wrote:I'm going to start my own company here in the next few weeks (filling out my entity formation form as we speak) and was thinking what the best business card would be. Automatically my mind goes to the Spark because Captial One has been very generous for me, but I know there are others. All of my relevant information is in my signature and if anything else is needed please let me know! Thanks as always!
Go with Spark, ti's great.
Only negatives are:
-Cap One usually pulls 2 or 3 bureaus
-Account reports on your personal credit
It seems as though several are suggesting spark. Is there a difference in qualification between the various spark cards i.e. is the 1.5% easier to get than the 2%?
I have two chase ink cards and an amex business spg card. The ink cards are outstanding IF a lot of your expenses are cable/internet/phones/office supplies since those are the 5x categories. You also get 2x on hotels and gas which is less appealling but better than no bonus. .
;Well I got approved for a Spark Select VS for $5000, which I'm ok with. The pool servicing business really doesn't have a lot of costs involved so my overhead is minimal each month. I hope it will grow though. Are their Spark cards similiar in that it they generally get a CLI every 6 months?