Reply
Established Member
clockscredit
Posts: 12
Registered: ‎03-13-2013
0

Good News and Need Some Advice (App Spree)

My girlfriend and I are in business together, we recently app'd for multiple business cards so we could start building business credit. So I thought I might mention what business cards we picked up this past couple weeks

 

-Walmart Business 

-Spark (this one wont be used)

-Chevron Universal Business Card

-Amex Delta and SPG Business

 

-One denial from Citi

 

We are going to use them, but pay in full after every use. 

 

We want to keep our utilization at 0%? Is there a better approach at building business credit?

 

We are Navy Federal members and I want to pick up this card but not sure if we are opening too many new accounts at one time. Should I hold off?

 

Community Leader
Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
0

Re: Good News and Need Some Advice (App Spree)


clockscredit wrote:

My girlfriend and I are in business together, we recently app'd for multiple business cards so we could start building business credit. So I thought I might mention what business cards we picked up this past couple weeks

 

-Walmart Business 

-Spark (this one wont be used)

-Chevron Universal Business Card

-Amex Delta and SPG Business

 

-One denial from Citi

 

We are going to use them, but pay in full after every use. 

 

We want to keep our utilization at 0%? Is there a better approach at building business credit?

 

We are Navy Federal members and I want to pick up this card but not sure if we are opening too many new accounts at one time. Should I hold off?

 


Congrats you did a wonderful job at picking up business cards 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Established Contributor
scenery_guy
Posts: 936
Registered: ‎07-24-2012
0

Re: Good News and Need Some Advice (App Spree)


clockscredit wrote:

My girlfriend and I are in business together, we recently app'd for multiple business cards so we could start building business credit. So I thought I might mention what business cards we picked up this past couple weeks

 

-Walmart Business 

-Spark (this one wont be used)

-Chevron Universal Business Card

-Amex Delta and SPG Business

 

-One denial from Citi

 

We are going to use them, but pay in full after every use. 

 

We want to keep our utilization at 0%? Is there a better approach at building business credit?

 

We are Navy Federal members and I want to pick up this card but not sure if we are opening too many new accounts at one time. Should I hold off?

 


No need to worry about keeping UTL at 0% as it does not report to your personal reports. I let mine close at whatever they are at (2% - 50% - 90%) and then pay the bill after it posts. Sometimes I pay it off before it posts if I am traveling and might forget. I'm not sure it matters to them as long as you are using it and paying in full. Important part is to pay no interest (obviously). 

 

Yes - hold off. You took a bunch of HP to get those cards. Use them for 3-6 months before you try for more cards. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}