Credit Cards Center Credit cards from our partners
Reply
Valued Contributor
Posts: 2,137
Registered: ‎06-16-2012
0

My first attempt for a Business Credit card not succesful

Well, i just became a partner with my father's established business at the start of this year and took the plunge to see if i could get approved for my first business credit card. Unfortunately it was a no go. I tried the Amex simply cash since i already have history with them and submitted the application. Instantly it told me to call them right away to verify some information and receive a decision. It gave me a reference application number along with the number to call them. I applied late at night so waited the next day to call them. When i did the CSR asked for my social, address, and reference number and then he said "oh, your application has actually been declined" (i felt like he was a little surprised when he told me that). He then gave me the reason why and that was it. He did say that i should probably try again in 2-3 months. Oh well, at least it was a SP. Decided to stop there and just wait to apply for any business credit for myself until next year.

gardening since 5/21/2016
Valued Contributor
Posts: 2,039
Registered: ‎01-24-2012
0

Re: My first attempt for a Business Credit card not succesful

 I would try with Chase if you can take another inquiry. I was declined at first because the analyst said they like two years of business history, but after asking again I was approved for 2000 and it increased up to 5000 upon request. I recently applied and was approved for a generous line for another business card from them after abotu one year of having one. I wouldn't let one decline keep you away from obtaining a business credit card. They look at your personal report anyway, and it looks fine from here. Even if you get declined with Chase you could move credit from the United Club card you have.

Community Leader
Senior Contributor
Posts: 30,749
Registered: ‎02-07-2013
0

Re: My first attempt for a Business Credit card not succesful


dodgerslv wrote:

Well, i just became a partner with my father's established business at the start of this year and took the plunge to see if i could get approved for my first business credit card. Unfortunately it was a no go. I tried the Amex simply cash since i already have history with them and submitted the application. Instantly it told me to call them right away to verify some information and receive a decision. It gave me a reference application number along with the number to call them. I applied late at night so waited the next day to call them. When i did the CSR asked for my social, address, and reference number and then he said "oh, your application has actually been declined" (i felt like he was a little surprised when he told me that). He then gave me the reason why and that was it. He did say that i should probably try again in 2-3 months. Oh well, at least it was a SP. Decided to stop there and just wait to apply for any business credit for myself until next year.


Congrats on being a business owner....BRAVO

What reason did Amex give for the denial?

Another option with Amex is recon again and ask for a charge since the revolver was denied to build business history and you have history with a personal NPSL card so this may help in the decision.

What bank do you bank with this may also be another option as you already have history with them?

Chase Ink cards are a good option but I would like more info about the denial reason before suggesting you apply.

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Valued Contributor
Posts: 2,137
Registered: ‎06-16-2012
0

Re: My first attempt for a Business Credit card not succesful

thanks for the grats! I do have a business checking accounts with Chase and US bank. Chase was just opened 3 months ago. My father already has a Chase Ink Cash and 2 US Bank business credit cards. The only reason i applied for the simply cash was because i knew if i would get denied it would only be a SP. I have way too much INQs on my EX report this year and i know Chase will pull EX here in NV for personal and business apps so my chances are not good. (have 12 INQ in the last year, 5 of them auto related done in one day). I have no idea who US bank pulls for business but i know they also pull EX for personal. My utilization went up to 9% this month and my AAoA is 3 years on EX report.

gardening since 5/21/2016
Valued Contributor
Posts: 2,137
Registered: ‎06-16-2012
0

Re: My first attempt for a Business Credit card not succesful


myjourney wrote:

dodgerslv wrote:

Well, i just became a partner with my father's established business at the start of this year and took the plunge to see if i could get approved for my first business credit card. Unfortunately it was a no go. I tried the Amex simply cash since i already have history with them and submitted the application. Instantly it told me to call them right away to verify some information and receive a decision. It gave me a reference application number along with the number to call them. I applied late at night so waited the next day to call them. When i did the CSR asked for my social, address, and reference number and then he said "oh, your application has actually been declined" (i felt like he was a little surprised when he told me that). He then gave me the reason why and that was it. He did say that i should probably try again in 2-3 months. Oh well, at least it was a SP. Decided to stop there and just wait to apply for any business credit for myself until next year.


Congrats on being a business owner....BRAVO

What reason did Amex give for the denial?

Another option with Amex is recon again and ask for a charge since the revolver was denied to build business history and you have history with a personal NPSL card so this may help in the decision.

What bank do you bank with this may also be another option as you already have history with them?

Chase Ink cards are a good option but I would like more info about the denial reason before suggesting you apply.


the reason for denial i think he said were, low fico score (he said it was 715 on last SP). Not too long being an AMEX cardholder. Delinquencies (im assuming the 51 dollar paid collection on EX report) and too many creditors have looked at my report recently (INQ of course).

gardening since 5/21/2016
Epic Contributor
Posts: 28,677
Registered: ‎10-23-2007
0

Re: My first attempt for a Business Credit card not succesful

BofA seems to love you... maybe you should go with them!

otherwise I 2nd Chase... you can recon and they can easily tell the auto and no biggie.

Valued Contributor
Posts: 2,137
Registered: ‎06-16-2012
0

Re: My first attempt for a Business Credit card not succesful


Creditaddict wrote:

BofA seems to love you... maybe you should go with them!

otherwise I 2nd Chase... you can recon and they can easily tell the auto and no biggie.


thanks for the input caddict!. I am going to wait a couple of months and try Chase and BofA and wait till Jan. for AMEX. Just want my utilization to be around 5% again and 3 of my new accounts will hit 6 months by then. Its not a must to get a business credit card for myself at the moment. Just wanted to try and see if i could start right now. Plus i am officially in the garden now so going to stay put. 

gardening since 5/21/2016
Community Leader
Senior Contributor
Posts: 30,749
Registered: ‎02-07-2013
0

Re: My first attempt for a Business Credit card not succesful


dodgerslv wrote:

myjourney wrote:

dodgerslv wrote:

Well, i just became a partner with my father's established business at the start of this year and took the plunge to see if i could get approved for my first business credit card. Unfortunately it was a no go. I tried the Amex simply cash since i already have history with them and submitted the application. Instantly it told me to call them right away to verify some information and receive a decision. It gave me a reference application number along with the number to call them. I applied late at night so waited the next day to call them. When i did the CSR asked for my social, address, and reference number and then he said "oh, your application has actually been declined" (i felt like he was a little surprised when he told me that). He then gave me the reason why and that was it. He did say that i should probably try again in 2-3 months. Oh well, at least it was a SP. Decided to stop there and just wait to apply for any business credit for myself until next year.


Congrats on being a business owner....BRAVO

What reason did Amex give for the denial?

Another option with Amex is recon again and ask for a charge since the revolver was denied to build business history and you have history with a personal NPSL card so this may help in the decision.

What bank do you bank with this may also be another option as you already have history with them?

Chase Ink cards are a good option but I would like more info about the denial reason before suggesting you apply.


the reason for denial i think he said were, low fico score (he said it was 715 on last SP). Not too long being an AMEX cardholder. Delinquencies (im assuming the 51 dollar paid collection on EX report) and too many creditors have looked at my report recently (INQ of course).


I would let the ding from the INQ's wear off before trying for any cards...don't rush your in the garden and have time to boost scores

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Valued Contributor
Posts: 2,137
Registered: ‎06-16-2012
0

Re: My first attempt for a Business Credit card not succesful


myjourney wrote:

dodgerslv wrote:

myjourney wrote:

dodgerslv wrote:

Well, i just became a partner with my father's established business at the start of this year and took the plunge to see if i could get approved for my first business credit card. Unfortunately it was a no go. I tried the Amex simply cash since i already have history with them and submitted the application. Instantly it told me to call them right away to verify some information and receive a decision. It gave me a reference application number along with the number to call them. I applied late at night so waited the next day to call them. When i did the CSR asked for my social, address, and reference number and then he said "oh, your application has actually been declined" (i felt like he was a little surprised when he told me that). He then gave me the reason why and that was it. He did say that i should probably try again in 2-3 months. Oh well, at least it was a SP. Decided to stop there and just wait to apply for any business credit for myself until next year.


Congrats on being a business owner....BRAVO

What reason did Amex give for the denial?

Another option with Amex is recon again and ask for a charge since the revolver was denied to build business history and you have history with a personal NPSL card so this may help in the decision.

What bank do you bank with this may also be another option as you already have history with them?

Chase Ink cards are a good option but I would like more info about the denial reason before suggesting you apply.


the reason for denial i think he said were, low fico score (he said it was 715 on last SP). Not too long being an AMEX cardholder. Delinquencies (im assuming the 51 dollar paid collection on EX report) and too many creditors have looked at my report recently (INQ of course).


I would let the ding from the INQ's wear off before trying for any cards...don't rush your in the garden and have time to boost scores


you are right journey and that is what i have decided. Will just wait till next year. Maybe try AMEX once again for early backdating. Im content with what i have at the moment plus have opened 8 new accounts this year already. Time to garden...

gardening since 5/21/2016
Community Leader
Senior Contributor
Posts: 30,749
Registered: ‎02-07-2013
0

Re: My first attempt for a Business Credit card not succesful


dodgerslv wrote:

myjourney wrote:

dodgerslv wrote:

myjourney wrote:

dodgerslv wrote:

Well, i just became a partner with my father's established business at the start of this year and took the plunge to see if i could get approved for my first business credit card. Unfortunately it was a no go. I tried the Amex simply cash since i already have history with them and submitted the application. Instantly it told me to call them right away to verify some information and receive a decision. It gave me a reference application number along with the number to call them. I applied late at night so waited the next day to call them. When i did the CSR asked for my social, address, and reference number and then he said "oh, your application has actually been declined" (i felt like he was a little surprised when he told me that). He then gave me the reason why and that was it. He did say that i should probably try again in 2-3 months. Oh well, at least it was a SP. Decided to stop there and just wait to apply for any business credit for myself until next year.


Congrats on being a business owner....BRAVO

What reason did Amex give for the denial?

Another option with Amex is recon again and ask for a charge since the revolver was denied to build business history and you have history with a personal NPSL card so this may help in the decision.

What bank do you bank with this may also be another option as you already have history with them?

Chase Ink cards are a good option but I would like more info about the denial reason before suggesting you apply.


the reason for denial i think he said were, low fico score (he said it was 715 on last SP). Not too long being an AMEX cardholder. Delinquencies (im assuming the 51 dollar paid collection on EX report) and too many creditors have looked at my report recently (INQ of course).


I would let the ding from the INQ's wear off before trying for any cards...don't rush your in the garden and have time to boost scores


you are right journey and that is what i have decided. Will just wait till next year. Maybe try AMEX once again for early backdating. Im content with what i have at the moment plus have opened 8 new accounts this year already. Time to garden...


See you in the garden I'll be right there with youSmiley Happy

When I come back out of the garden its for another business card.....Chase InkSmiley Wink

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.