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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Revisiting biz credit

After a multi-year hiatus with business credit, we are tip-toeing back into it. I'm co-owner of a S-corp established in 1983 and took over a couple of years ago, though worked for them 15 years before that. We opened a secured LOC of $25k last year and that was our only credit item. Recently opened a Staples Net30 and Quill accts. I also was recommended via Amex's website their Plat Biz CC, but was declined. Person util is high now. I haven't checked DnB in a very long time either.

 

I know the days of no-PG are virtually over. Since checking last, it seems much more difficult to apply.  Question: are creditors still weighing personal credit as heavily, if not more, than biz credit? I don't mind the PG, but would like to avoid the inquiries but really don't have a need for a herd of net30s. Tired of charging on my personal CCs.

Mega Contributor
Creditaddict
Posts: 16,879
Registered: ‎10-23-2007

Re: Revisiting biz credit

yeah I tabble into the business stuff every once in a while but without checking but I assume I have no business credit with my new (1 year old) company because it has virtually sat... but I feel like you hear these days Capital One, Chase ink, American Express.... other "Major" banks obviouly have business cards but the more desirable options (Advent? Avant, err... had 2, should know! lol what was that one? 2.99 LIFE BT!!!) PNC was kind of known if passing through certain things (not sure what they were) but seemed $15k was common starter!

Thing is, big difference from I'm okay to PG, but am I okay to PG for HP and opening the account, but am I okay with the report of Pg also having account showing!

 

Who is your secured LOC with?

Util to high for Amex Charge, what kind of debt $$ are you talking?

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Mega Contributor
Creditaddict
Posts: 16,879
Registered: ‎10-23-2007

Re: Revisiting biz credit

ooh, 1 more thought, you have Sams in your area?  If you are willing to PG, GE might be nice to you and once you get it, you can probably avoid the HP in future and maybe store first, but at some point you could get Discover probably, and unlike personal underwrighting I think they have the ability to do the upgrade not wait for computer!

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200

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