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Posts: 8
Registered: ‎07-16-2011
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Which Business Credit Card For 670 FICO?

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I have been in business since 2004, profitable every year, growing year on year significantly, and I just happened to have high utilization in the past few months so my score fell from 714 to 649... Now it's back to 670.

 

What business credit cards should I apply for?

 

I really need credit to help me with my new venture... need to pay my team for the software development. But everyone talks about Exxon, Staples etc... I need a line of credit for my business and I'm hoping to get a CL of at least 20,000.

 

Should I be talking with my bank about a small business line of credit rather than looking for a business credit card?

 

Thanks in advance

Chase Visa $5k
Chase Ink Cash (business credit) $7.5k
Amex Business Gold Rewards (charge)
Capital One Visa Platinum (personal) $1.7k
Capital One Rewards Mastercard (personal) $1.5k


Starting Score: 552
Current Score: 664
Goal Score: 720


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New Member
Posts: 8
Registered: ‎07-16-2011
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Re: Which Business Credit Card For 670 FICO?

Thanks anyway - I guess nobody knew which is fine. As you can see from my signature, I got 2 new cards.

Chase Visa $5k
Chase Ink Cash (business credit) $7.5k
Amex Business Gold Rewards (charge)
Capital One Visa Platinum (personal) $1.7k
Capital One Rewards Mastercard (personal) $1.5k


Starting Score: 552
Current Score: 664
Goal Score: 720


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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Which Business Credit Card For 670 FICO?

The lack of answers probably is due to the fact that there is no specific answer to give. They'll look at your CR of course as a PG, but they might also look at your biz reports. If really hands on, they'll look at tax records, P&Ls, income statements, etc. Last year we applied for a biz line of credit. FICOs were superb, DnB was clean, but was initially declined due to lack of a history on the biz report.

New Member
Posts: 37
Registered: ‎06-16-2012
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Re: Which Business Credit Card For 670 FICO?

Capital One seems to be aggressive right now in high line new cards for small businesses

Sparks is their biz cards

I got a high line card with no hard biz info and almost all new bureau on personal

So based on my own experience I'd say Sparks by Capital 1 wants new accounts right now

So try that

Ghost in Bureau's from 1987 to 2010 (lot's of money no need for credit)
0 2010 in Bureaus
750 average beacon 2012
850 goal
Epic Contributor
Posts: 25,839
Registered: ‎10-23-2007
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Re: Which Business Credit Card For 670 FICO?


IanZ63Q1 wrote:

I have been in business since 2004, profitable every year, growing year on year significantly, and I just happened to have high utilization in the past few months so my score fell from 714 to 649... Now it's back to 670.

 

What business credit cards should I apply for?

 

I really need credit to help me with my new venture... need to pay my team for the software development. But everyone talks about Exxon, Staples etc... I need a line of credit for my business and I'm hoping to get a CL of at least 20,000.

 

Should I be talking with my bank about a small business line of credit rather than looking for a business credit card?

 

Thanks in advance


I would be talking with your local bank about a line vs. credit card - if your local bank is Chase - No.

Im talking about a credit union that makes these decsions right in the branch you walk into!

 

If you have access to Navy Federal I have seen a little info and asked about verification of business and such a few months back and the couple people that had used them stated not as hard as online app seems to make it.

 

I would skip Capital one for business especially if looking to load up some debt for a few to get  ew things started because they pull all 3 CR to apply and then report the card to Personal Credit each month... so you could tank your scores all over again...

Look into Key Bank, they had a MasterCard that you could x out the PG on app and sent in and they would go off business credit.... and they were not afraid to give some high credit lines.

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
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