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Epic Contributor
Creditaddict
Posts: 22,095
Registered: ‎10-23-2007
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Navy Federal Business Credit Card

Does this card report to Personal Credit?

Do they usually require the business documents since it is a PG card? (Business Plan, or last years taxes, etc.)

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
New Contributor
hammertime
Posts: 59
Registered: ‎03-30-2010
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Re: Navy Federal Business Credit Card

No they don't report to personal credit.  I have one with 10K limit.  TU pull.  No business docs or tax returns needed unless requested more than 10K credit.

Frequent Contributor
SSH0126
Posts: 332
Registered: ‎02-22-2009
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Re: Navy Federal Business Credit Card

What was your score when you were approved ? 

New Contributor
hammertime
Posts: 59
Registered: ‎03-30-2010
0

Re: Navy Federal Business Credit Card

737 at the time of app.
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Navy Federal Business Credit Card

Ok I just read this post. I had been thinking of getting an amex plum but I would be afraid of FR. My business doesn't make a lot of profit.

I think I want to apply for nfcu business credit card. Anyone have any reviews; positive or negative about nfcu business card?

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
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Epic Contributor
Creditaddict
Posts: 22,095
Registered: ‎10-23-2007
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Re: Navy Federal Business Credit Card


webhopper wrote:
Ok I just read this post. I had been thinking of getting an amex plum but I would be afraid of FR. My business doesn't make a lot of profit.

I think I want to apply for nfcu business credit card. Anyone have any reviews; positive or negative about nfcu business card?

Your business probably will play almost 0% of applying and getting approved Amex Business Cards.

BUT the Plum will probably not pay for itself if you don't spend very much.

 

Navy still makes my #3 for Business Checking Account / Credit Card / and "Possibly" a Line of Credit just hanging out.  But really the only reason they make my #3 is because of the HUGE Credit Lines and little reports of hitting a Max number of accounts with Navy unless you hit the "tota" Credit Line they think you can do with your income.

 

Capital One Business Cash something is 2% for ALL Purchases and not just an intro.  HOWEVER it reports to personal credit :smileysad:

 

so that would leave Amex I'm thinking either Plum or Business Cash (think is actually even better!)

or Chase like United Plus (what ever that new one is called) but we would have to switch all travel to them to make it worth it... right now it seems different airline each time we fly has best price... and usually not close enough pricing to say oh well if I got more points towards more free stuff with United or one of the others I would pay bit more...but just can't justify so far.

 

Sorry to hijack and blab on... but looking around also so though would share in case one of the above match well for you too.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Navy Federal Business Credit Card

That's a good analysis. I don't want cap 1. I'm not sure if you mean that I don't have a good chance of getting plum??

I don't really fly at all; well maybe 1-3 times per yr so I'm thinking that airline isn't really what would be good.

I'm wanting the card to pay for some upgrades and maintenance work on my rental property.

My gross rental income is about 2k per month and the mortgage will be about 1100 after I refi. This business doesn't pay the bills for my home but its a nice source of passive income. My husband and I are both w-2 employees and our gross salaries are about 155k Ish. So its really kind of a drop in the bucket...

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Epic Contributor
Creditaddict
Posts: 22,095
Registered: ‎10-23-2007
0

Re: Navy Federal Business Credit Card


webhopper wrote:
That's a good analysis. I don't want cap 1. I'm not sure if you mean that I don't have a good chance of getting plum??

I don't really fly at all; well maybe 1-3 times per yr so I'm thinking that airline isn't really what would be good.

I'm wanting the card to pay for some upgrades and maintenance work on my rental property.

My gross rental income is about 2k per month and the mortgage will be about 1100 after I refi. This business doesn't pay the bills for my home but its a nice source of passive income. My husband and I are both w-2 employees and our gross salaries are about 155k Ish. So its really kind of a drop in the bucket...

Oh goodness sorry had not noticed your Sigi Line Before! I think you would probably be instantly approved for most of what you would apply for!!! You should have NO issues with Any Amex you want. again I would just look at Annual Fee.

Since you are looking for House Stuff I would look at Lowes or Home Depot... If you plan to pay cash then Lowes Personal with the instant 5% off at register just like the Target Card but you can't take 0% deals if you take the 5%... but if you need to carry a balance a bit and can't have that debt floating on your reports vs. hidden Business Trade.  But Biz Home Depot and Lowes don't offer the 0% or the discounts I don't believe....

Navy would probably be your very best place based on your current $22k Line!!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Epic Contributor
Creditaddict
Posts: 22,095
Registered: ‎10-23-2007
0

Re: Navy Federal Business Credit Card

Oh sorry spoke to soon!

I would check out the Lowes Business American Express Account!!!

You DO get the 5% AND you earn rewards in the categories including Lowes for 2%... so 7% total with the two combined.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Navy Federal Business Credit Card

Omg that's a good option! Lowes business amex. I'm assumimg its underwritten by centurion bank? I had a lowes personal card with a 5 k limit opened in 2008 for a 12 m no interest promo. I paid it off before the 12 months and ge closed the account.

It kind of made me mad. Most of my purchases are at lowes because I think their staff is most helpful. For the most part I like to pay cash but ive got a great contractor now and id like to the work in this fiscal year for tax reasons. He can take any card.

I push about 3 to 5k through my zync and I pay in full before the 15th. The statement is released on the 9th... so I think I have a fairly high internal amex score. My spend ytd is 21.5k and the card had been open since Feb.

The scores in my siggy are plus scores because I'm too cheap to buy ficos.

I plan on pulling ficos after my most recent cc payoffs have posted to my report.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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