@anotherannabanana wrote:
The problem is I'm not eligible for business cards. Chase and Amexd send me letters encouraging me to apply for them all the time, but I was denied a business card at Chase and I'm assuming I would be anywhere else. My business credit report shows no credit history, though we've been paying off a $50K loan for the last 5 years which will be paid off very soon, and of course we pay our bills on time every month. I signed up with Dun & Bradstreet 5 years ago, and still nothing being reported to any credit bureaus. This is why I'm using personal credit cards for business expenses (they are ONLY used for business expenses, so it's easy to keep separate).
When one lender turns you down, it does not mean everyone else would turn you down. If you doubt that, check out the forums here for folks that are approved for Comenity, but turned down for Chase, Citi, or other lenders. Different lenders have different underwriting criteria, or guidelines that guide whether they approve or decline. Aso consider the power of the recon.
If you're PG'ing the business card, the lender gets some assurance that the credit line will be paid for.
Credit situations change over time. In the last two years I've gone from grovelling to get a $500 TJX card to receiving a $10k Ebates Visa on instant approval - with the same issuer.
I happen to like the Chase business cards, but also have one of the Simply Cash Amex. If you're a Costco member, the TrueEarnings card is availble in a business version as well.
As for the charge cards (Green, Gold, Platinum, Ink Bold) versus credit cards (SC Biz, Ink Plus), I've preferred the credit cards because the option to pay over time is part of its nature, and you can always choose to pay your credit card in full when due.
I was going to garden... Honest!
