Credit Cards Center Credit cards from our partners
Reply
New Visitor
Posts: 8
Registered: ‎08-23-2016
0

Re: Spark Business Cash too low, won't budge on intial increase

I just applied for Spark Business, since I received the letter in the mail. I was approved for $2000... I stated that my Busines Income is $50k and my Personal Income was $25k. They pulled my personal credit which is only ~650, which may be the reason for the low approved credit limit ?

Senior Contributor
Posts: 5,425
Registered: ‎02-24-2015
0

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

True, seems like I just have to bite the bullet and play the charge/pay/charge/pay game for 6 months, and anything over 2k ish will just have to go on the Ink for now.

 

As far as pushing payments - will they actually accept any amount

 

yes I do it all the time

 

and if so will that affect charging power

 

it will after a few days

 

- or will it just result in an account balance with the same CL? 

 

it results in a credit balance

 

From what I'm reading this is more common with Amex etc, but not so much with Capital one or Citi...

 

We got this mainly for the 2%, as we have a good amount of spend not in the 5% Ink categories - and in our industry Amex is often not taken sadly.  I didn't see much of a benefit for us as the Amex CB %'s were nearly identical to Ink and the Mastercard never gives us a problem. I

 

I think If we can get up to at least 10k within 6-12 months we should be able to work with the Spark, but it does seem ridiculous to be THAT strict (when she said "we're a conservative lender I was cracking up. Smiley Happy I get it, but if you can't actually use the card for what you need, what's the point?

 

it will grow in time

 

For the web based increase request - are you stuck with whatever amount they offer you to accept or decline? I'm guessing after 6 months it makes more sense to call and have ES manually increase.

 

many people report being given a decision whether to accept or not, and some report that if they decline... & then apply again in a couple of months... they got a bigger CLI

 

in my case however i don't recall being given a choice of whether to accept or decline


 


FICO8 EQ 782 TU 806 EX 783 FICO5 EQ 747 Total revolving 503000
New Visitor
Posts: 8
Registered: ‎08-23-2016
0

Re: Spark Business Cash too low, won't budge on intial increase

I was just approved for a $2,000 credit line with Capital One Spark. Once it arrives, I will request a Credit Line Increase. Have you guys done that ? If so, what language patters did you use ? How much Increase did they give you ?

New Member
Posts: 13
Registered: ‎12-09-2016
0

Re: Spark Business Cash too low, won't budge on intial increase

Thanks all, some good suggestions!

 

I just charged nearly the 2k over the pastweek, paid 110% last night, and will have another 2k charge coming tomorrow as soon as the payment clears. So should be hopeful in a few months when I repeat this a few times to pass 4500 and build some history.

 

It's almost comical dealing with a limit this low, never had to think about it before. However 2% does help, and it will be worth it in the end.

 

I did do an initial request on the web tool which denied, I emailed ES, spoke to 2 people who said no immediately due to the account  being 2 days old. Wouldn't even look into it further.

 

Interesting about Facebook - so is this the same department who calls you back when you email? Will they chat with you through the site about specifics or just take a general inquriy?

 

I'm hoping for at least 10k but I'm sure that will have to happen in at least 2-3 more jumps.

New Member
Posts: 13
Registered: ‎12-09-2016
0

Re: Spark Business Cash too low, won't budge on intial increase

[ Edited ]

sorry - double post

New Member
Posts: 13
Registered: ‎12-09-2016
0

Re: Spark Business Cash too low, won't budge on intial increase


bigpoppa1 wrote:

I was just approved for a $2,000 credit line with Capital One Spark. Once it arrives, I will request a Credit Line Increase. Have you guys done that ? If so, what language patters did you use ? How much Increase did they give you ?


Just did this with a new account/2k limit - denied on website and over the phone w/ ES due to account being too new. 815 credit and perfect very long history with a lot more credit than this.

 

 
Established Contributor
Posts: 740
Registered: ‎09-05-2013
0

Re: Spark Business Cash too low, won't budge on intial increase

[ Edited ]

You need a CORPORATE Card   (NO PG... usually high limits and requires business docs to start)

 

 

 

 

Capital One

 

American Express

 

US Bank

 

JP Morgan / Chase

 

Citi

 

 

Also, you may want to try the BJS World for Business (Some people have been getting good limits no PG and when asking for higher if they provide docs can see 80K revolving limits)

Established Contributor
Posts: 803
Registered: ‎02-10-2013
0

Re: Spark Business Cash too low, won't budge on intial increase

It's almost impossible to get a no PG card from any of these issuers unless you're bringing in 10m+.

Most people just use an Amex small business charge card. The limit is pretty much infinite, you can get a massive revolving line with pay over time, and the APR is very reasonable once they like you (~4 years).
Senior Contributor
Posts: 5,425
Registered: ‎02-24-2015
0

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

Thanks all, some good suggestions!

 

I just charged nearly the 2k over the pastweek, paid 110% last night, and will have another 2k charge coming tomorrow as soon as the payment clears. So should be hopeful in a few months when I repeat this a few times to pass 4500 and build some history.

 

It's almost comical dealing with a limit this low, never had to think about it before. However 2% does help, and it will be worth it in the end.

 

I did do an initial request on the web tool which denied, I emailed ES, spoke to 2 people who said no immediately due to the account  being 2 days old. Wouldn't even look into it further.

 

Interesting about Facebook - so is this the same department who calls you back when you email? Will they chat with you through the site about specifics or just take a general inquriy?

 

Yes it's the "Executive Office". There is no email access any more.

 

I'm hoping for at least 10k but I'm sure that will have to happen in at least 2-3 more jumps.


 


FICO8 EQ 782 TU 806 EX 783 FICO5 EQ 747 Total revolving 503000
Valued Contributor
Posts: 1,300
Registered: ‎08-06-2014
0

Re: Spark Business Cash too low, won't budge on intial increase

[ Edited ]

SouthJamaica wrote:

Jenn10011 wrote:

Thanks all, some good suggestions!

 

I just charged nearly the 2k over the pastweek, paid 110% last night, and will have another 2k charge coming tomorrow as soon as the payment clears. So should be hopeful in a few months when I repeat this a few times to pass 4500 and build some history.

 

It's almost comical dealing with a limit this low, never had to think about it before. However 2% does help, and it will be worth it in the end.

 

I did do an initial request on the web tool which denied, I emailed ES, spoke to 2 people who said no immediately due to the account  being 2 days old. Wouldn't even look into it further.

 

Interesting about Facebook - so is this the same department who calls you back when you email? Will they chat with you through the site about specifics or just take a general inquriy?

 

Yes it's the "Executive Office". There is no email access any more.

 

I'm hoping for at least 10k but I'm sure that will have to happen in at least 2-3 more jumps.


 


Yes, there is just not for CLI's.
CSR & Freedom | Venture (2)

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.