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Spark - Declined?

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MaisCher
Frequent Contributor

Spark - Declined?

I do High School Senior Portraits and my business seems to be picking up a lot faster than I thought it would. I decided to purchase a lens I'd been eyeing, some samples prints and there are seminars I'd like to attend. I want to seperate this from my personal but was waiting to apply for business credit. After reading that CapOne was a little easier to obtain and I'm not concerned with it reporting to my personal report I applied.

 

Denied! Reason: "Based on your application information, Capital One account credit limit(s) are too high.

 

WTH does that even mean? Are they talking about my current cards or Spark? My Venture is only 8K with maybe a 1K balance. My QS1 only has a $600 limit and I don't use it at all for that reason. I've seen $500 starting limits on some Sparks. What gives?

   

Current Score: EQ 699 TU 719 EX ? as of April-2016

Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: Spark - Declined?

Sorry to hear... I'd call them/reach out to their EO to see why you were declined.  That is a lousy reason.

Message 2 of 16
Anonymous
Not applicable

Re: Spark - Declined?

My opinion.

 

They did you a favor. I run a tight ship on personal credit, but highly utilize my business credit. Being that spark reports to personal, using that card for your business will rollercoaster your personal credit.

 

Early on i focused on building my personal, so i could get business cards that don't report to personal credit(You get one inquiry at the time of app). That allows you to utilize your business credit, and not effect your personal scores.

 

If your credit isn't perfect, i would try to get my foot in the door with Amex with a charge product.....Then build with them. Once you are established, you can get a revolver that doesn't report to personal.

 

 

Message 3 of 16
Anonymous
Not applicable

Re: Spark - Declined?

They did you a favor. I run a tight ship on personal credit, but highly utilize my business credit. Being that spark reports to personal, using that card for your business will rollercoaster your personal credit. <<< Agreed
Message 4 of 16
MaisCher
Frequent Contributor

Re: Spark - Declined?

I have two AMEX personal cards. Will the business card app be a SP denial/ HP approval like the personals are?
   

Current Score: EQ 699 TU 719 EX ? as of April-2016

Message 5 of 16
Anonymous
Not applicable

Re: Spark - Declined?


@MaisCher wrote:
I have two AMEX personal cards. Will the business card app be a SP denial/ HP approval like the personals are?

It will be a softpull as personals..

Message 6 of 16
Anonymous
Not applicable

Re: Spark - Declined?

What cc companies do not post bus cards on personal lines? I already have a Costco Bus through Amex and that appears on my personal file...however I did use my social for the app. I have now started a corp and have a ein (just got today). I want to do a b.trasfer from some personal cards (used for bus) to a new bus card, to keep my utlization low. 

 

My personal file I have about $250k in total credit, $3k current owed/reported for balances. Until last month I paid in full every month...the firm I'm about to resign with has been not paying correctly the last few months, hence my incoporating and getting ready to resign. But that is neither hear nor there. The 3k or so I'll B.T will not get paid off until the end of the 0% offer. But I want my personal file to go back to normal (less than .5% all the time). 

 

I have 6 years industry experience, and am staring my own co in the same industry. All 3 CB have me above a 785 and my vanage was a 819 a few days ago when I checked. 

 

Some notible cards on my personal file

-Amex Blue Cash Pre: $16,900 limit

-Amex Costco Bus: $12,000 limit

-Amex Everyday Pre: $15,500 limit

Then I have a Delta Plat and Zync but those are under 10k limits

 

-Discover: $25,000 limit

-Brooksbrothers M/c: $15,000

-Capt 1 Venture: $12,000

-Ameriprise: $16,000 limit

-Chase Marriott and Saphire Preffered: both at $10k limits

 

Those are al the cards I use often with above 10k limits. I obv have a few others, "sock drawer rotation cards" 

 

Anyways like I said before, what card co's will not post the bus balances on my personal file (I do believe they do, if I am deliquent, but I've had not 1 missed payment/baddies ever)? Also for a brand new corp 5/15/15 what companies will be somewhat easy to get. I don't want to use too many hits on my personal file (maybe 1 or 2) all I need is about 10k -15k in company credit to do the b.transfer and float the first few months with low income (and not use ALL my savings).

Message 7 of 16
Imperfectfuture
Super Contributor

Re: Spark - Declined?


@Anonymous wrote:

What cc companies do not post bus cards on personal lines? I already have a Costco Bus through Amex and that appears on my personal file...however I did use my social for the app. I have now started a corp and have a ein (just got today). I want to do a b.trasfer from some personal cards (used for bus) to a new bus card, to keep my utlization low. 

 

My personal file I have about $250k in total credit, $3k current owed/reported for balances. Until last month I paid in full every month...the firm I'm about to resign with has been not paying correctly the last few months, hence my incoporating and getting ready to resign. But that is neither hear nor there. The 3k or so I'll B.T will not get paid off until the end of the 0% offer. But I want my personal file to go back to normal (less than .5% all the time). 

 

I have 6 years industry experience, and am staring my own co in the same industry. All 3 CB have me above a 785 and my vanage was a 819 a few days ago when I checked. 

 

Some notible cards on my personal file

-Amex Blue Cash Pre: $16,900 limit

-Amex Costco Bus: $12,000 limit

-Amex Everyday Pre: $15,500 limit

Then I have a Delta Plat and Zync but those are under 10k limits

 

-Discover: $25,000 limit

-Brooksbrothers M/c: $15,000

-Capt 1 Venture: $12,000

-Ameriprise: $16,000 limit

-Chase Marriott and Saphire Preffered: both at $10k limits

 

Those are al the cards I use often with above 10k limits. I obv have a few others, "sock drawer rotation cards" 

 

Anyways like I said before, what card co's will not post the bus balances on my personal file (I do believe they do, if I am deliquent, but I've had not 1 missed payment/baddies ever)? Also for a brand new corp 5/15/15 what companies will be somewhat easy to get. I don't want to use too many hits on my personal file (maybe 1 or 2) all I need is about 10k -15k in company credit to do the b.transfer and float the first few months with low income (and not use ALL my savings).


Amex is very easy to get. Chase Will be shoe in, you have history. BOA and Citi might want some experience with personal cards. Right now, I only want a Chase Ink Cash, which I will apply for in May 2016. Capital one does report to personal.


I don't know why the Costco reports to personal, all the business Amex cards tend not. My SimplyCash does not report personal.

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Message 8 of 16
Anonymous
Not applicable

Re: Spark - Declined?

I also agree.  Ink would be the way to go.  This has nothing to do with credit but what camera & what lense?  I did this for many years.  

Message 9 of 16
MaisCher
Frequent Contributor

Re: Spark - Declined?


@Anonymous wrote:

I also agree.  Ink would be the way to go.  This has nothing to do with credit but what camera & what lense?  I did this for many years.  


I shoot with a Canon 6D right now. The lens I want is the 50mm f/1.2. I primarily use my 85mm f/1.8 or 70-200mm f/2.8 now.

 

   

Current Score: EQ 699 TU 719 EX ? as of April-2016

Message 10 of 16
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