Frequent Contributor
Posts: 461
Registered: ‎02-27-2012

Opened New LLC today, should I apply for a business CC with BOA when opening new business account

Hello All,

My personal info:

Length of credit history - 1 year 7 months
AAOA: 8 months 
I am 22
2010 - 
Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011) 
Capital one - $500 ( now $750) 
Care Credit - $1000
Lord & Taylor - $1200 ( now $3,000) 
Macys & Bloomingdales 
2011 - ( In Nov 2011 added 11 new accounts)  Now have: 
BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit) 
BOA CASH rewards - 2000
BOA Accelerated Amex- 2000
Discover- 1000
Amex SPG 
Penfed Promise - 9000
PNC Bank - 1500
Chase Slate - 3000
Wells Fargo Plat - 1500
Affinity CU - 1000
Barclays - 1300
walmart - 700 my older brother and I opened a new LLC today, we are planning to open in the new bank accounts with Bank Of america next week. We have a personal checking with them. Do you guys think we should apply for a business credit card, when we open the business accounts ??? I already have 3 personal credits with them already but the history on one is for 19 months and the other 2 with a 4 month history. The 19 month was a secured card that turned unsecured in 11/2012.

Also I have received many suggestions from users on this forum to not apply for any cc's right now because it could give a AA, but I was thinking that there is not hurt to try. I mean I will be a inq but that's all. The banker suggested to apply when we went today. But the said it is based on personal credit. Also waiting to apply next week when personal score will go back to the 700's...currently 693 cus 1 large balance is still reporting....
Regular Contributor
Posts: 229
Registered: ‎12-12-2010

Re: Opened New LLC today, should I apply for a business CC with BOA when opening new business accoun

Congrats to you on your new business! I just filed for my LLC also.


Do you feel that you have a pretty good chance of approval for the BOA cc that you're app'ing for? Do you have any particular card in mind that you're looking for?


Right now my credit sucks, so I'm just managing with my business debit card but I'm really hoping soon to be able to get approved for a biz card through my bank Chase. Hopefully in a couple of months.


Good luck to you either way!

Starting Score: 576 EQ 1-12-13
Current Score: 588 EQ 2-3-13
Goal Score: 650

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