New business owner, Approved for Home Depot Commercial Revolving Charge

[Anonymous]

Just registered my cleaning business earlier this month. I was denied for a BofA Alaska Airlines Bus. earlier this month and I was concerned about being denied at HD, mainly since it's backed by Citi and Citi show me no love with their pre-qualifiers for personal cards and I was denied earlier this year for a personal AAdvantage card. To my surprise, we were approved for $1,000. I'm perpetually denied by Amex for personal cards but I'm itching to apply for a business card with them. Also, Chase denied two apps back in September for two personal cards, though I recently got a soft pull CLI on my CSP. I'm interested in their business cards, too.

My question would be if I should A) Recon my limit with HD? and/or B) lay low with what I have and avoid applying for anything else while I let HD build my business credit?

Scores sit at 649 TU, 683 EQ and 708 EX

[FocusedAndDetermined]

Congrats on your approval! 

The more seasoned business experts will provide advice on applying for additional biz credit.  My opinion is you should lay low for about 6 mos. or more to give the HD a chance to report and show history.  Since most biz applications require a PG and you've already had a few recent HPs, give those a chance to age as well as the new card.

 That's my 2 cents. The pros may offer different advice.

Good luck with your new business!!

[peaceonearth]

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@Anonymous wrote:

Just registered my cleaning business earlier this month. I was denied for a BofA Alaska Airlines Bus. earlier this month and I was concerned about being denied at HD, mainly since it's backed by Citi and Citi show me no love with their pre-qualifiers for personal cards and I was denied earlier this year for a personal AAdvantage card. To my surprise, we were approved for $1,000. I'm perpetually denied by Amex for personal cards but I'm itching to apply for a business card with them. Also, Chase denied two apps back in September for two personal cards, though I recently got a soft pull CLI on my CSP. I'm interested in their business cards, too.

My question would be if I should A) Recon my limit with HD? and/or B) lay low with what I have and avoid applying for anything else while I let HD build my business credit?

Scores sit at 649 TU, 683 EQ and 708 EX

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Use the account for at least 3 Months then ask for a CLI.

[Anonymous]

Thanks for the insight 

[Anonymous]

Thank you 

[pizza1]

congrats on your success!!

[Creditaddict]

I would recon right away, they usually will use same report for right now but future asks will be another hp.

Plus if it's anything like personal HD they almost ALWAYS will recon to higher limit.

[Anonymous]

Congrats on the new business and approval!!! Did you recon or are you going to wait 6 months?

[Anonymous]

I called today: $5,000! Boo yah Bank of America! Love this forum, get the extra courage to call lol

[Anonymous]

$5000 limit after recon!