After closing a re-fi on my home, I realized I need to move by business expenses off of my personal cards, where using the grace periods before paying them off had been increasing my utilization and holding down my Fico scores (currently in the 755 to 788 range, ) so I applied for six cards (five business and one personal) that I had been eyeing:
1) Alaska Airlines Personal (for the mileage bonus): Instant approval , $17,500 CL, pulled EX
2) AMEX Simplycash Business: Instant approval, $15,000 CL, pulled EX
3) AMEX Delta Gold Business: Instant approval, $15,000 CL, pulled EX
4) Alaska Airlines Business: Went pending, I called business UW #; they asked for proof of business, which I faxed in (28 years in business, average gross over 700K).
I waited three days, and app. was still pending, so I called in again and spoke to a helpful UW who asked specific questions about how I used credit, put me on hold for a while, then said she would have to submit to senior underwriter, but she was recommending approval; next day appoved for $5,000 CL. Pulled TU.
5) US Bank Business Edge Select: Instant decline, for high outstanding balances, I called UW and asked for reconsideration, CSR was abrupt and said he would re-submit and to check back.
I checked the automated line and it was declined again, so I called UW again and got a more helpful CSR who asked some good questions about why I wanted the card and how I used credit. She said she would add her notes to the app and re-submit and to check back in two days. On the third day I got the "Congratulations, you've been approved!" message on the automated line, but no info on the credit line yet. Pulled EX (surprisingly, but everyone seems to pull EX in SoCal.)
6) Chase Marriott Business: I wanted this for the business credit and also to give me a enough points to complete an upcoming award reservation in NYC with the bonus; went pending with the "two weeks" message. After all of the recent negative stories about Chase approvals, I let this one stay pending and waited it out for two weeks before calling in. I have four personal and one business card with Chase and put a good amount of spend on them, but already have over 50k in CL's, so I offered to move some credit over from a personal card, but UW said she couldn't do that, and then grilled me about my business and how I used credit. I answered all of the questions patiently and truthfully, and she put me hold for about 20 minutes before telling me she would have to send it to a senior underwriter (possibly because of my existing exposure with Chase; she wouldn't say why.) Two days later a new Marriott free night certificate showd up in my Marriott account, and today the automated line finally said "Approved, credit line $10,000!" Pulled EX (of course....)
So 15 days after the apps I ended up 6 for 6. I will now chill and meet the minimum spends, while closing some older personal cards that no longer fit my spending plans.
