Which business credit card's limit goes up the fastest?

[Anonymous]

I have a low-margin business doing several million a year in revenue (so lots of cash flow but profits aren't too big).  Personal credit is in the low 700's.   I process over $100K/mo on my debit card and wanted to run them through a business credit card instead to get some cash back.  Furthermore, sometimes, I will place a single order for $50K+ , meaning I need a card which will have up to a $100K limit.  I'm expecting to get approved for say $25K.  Which cash-back card rises the fastest with regular paying down (I can even do it daily)?  I read on myFico forums that Amex Plum card may not be a good idea because I have to wait until statement posts to be able to pay it down.   I need my limit to go up very quickly, within the matter of a few months, but as I said I have the cash flow and can pay down the balances even daily and just keep requesting/getting limit increases.   Which cards work best for this?  Is the Spark Cash 2% any good?

[driftless]

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@Anonymous wrote:

 I read on myFico forums that Amex Plum card may not be a good idea because I have to wait until statement posts to be able to pay it down.   I need my limit to go up very quickly, within the matter of a few months, but as I said I have the cash flow and can pay down the balances even daily and just keep requesting/getting limit increases.   Which cards work best for this?  Is the Spark Cash 2% any good?

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 Actually, I thought that Plum card might be a good fit for you.  I wasn't aware that you can't pay it down until the statement posts, that does not make sense to me.

[Anonymous]

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@driftless wrote:

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@Anonymous wrote:

 I read on myFico forums that Amex Plum card may not be a good idea because I have to wait until statement posts to be able to pay it down.   I need my limit to go up very quickly, within the matter of a few months, but as I said I have the cash flow and can pay down the balances even daily and just keep requesting/getting limit increases.   Which cards work best for this?  Is the Spark Cash 2% any good?

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 Actually, I thought that Plum card might be a good fit for you.  I wasn't aware that you can't pay it down until the statement posts, that does not make sense to me.

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Hi, Here is the thread I was referring to:  http://ficoforums.myfico.com/t5/Credit-Cards/Considering-the-Plum-Card-Be-Warned/td-p/1310205

[Anonymous]

For a $100K limit,  I would talk to a banker wherever you have your cash/debit card and see f they have any business card offerings.  It really isn't likely that you'll get a $100K limit in a short period of time with any of the main business card issuers like Chase, Amex, etc..  if you're doing that ki d of cash flow each month you should be utilizing a business checking account and that's where you need to start.

[Anonymous]

I do have a business checking account. The debit card that I currently use is attached to it.

[Anonymous]

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@Anonymous wrote:
I do have a business checking account. The debit card that I currently use is attached to it.

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Does that bank offer a business card?  If I not, I'd consider switching to one that does.  You're far more likely to get that large of a limit with a bank that sees that you have the assets to pay it off.  With the kind of volume that you are doing, you're costing yourself a lot of money each year by using a debit card.  Is there s a specific category that you spend a lot in?

[Anonymous]

It's mostly buying inventory for the business.

By bank does have a card but it's only 1% cash back. I would like a 1.5% or 2%. Plum card ain't looking so good, given the other thread I linked to?

[Anonymous]

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@Anonymous wrote:
It's mostly buying inventory for the business.

By bank does have a card but it's only 1% cash back. I would like a 1.5% or 2%. Plum card ain't looking so good, given the other thread I linked to?

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Can you be more specific with 'inventory'?  If not, I understand  but a lot of business cards' best benefits are category specific.  Also, it may be that you need. Ore than one card.  For example, if you spend a lot on shipping then a card like the Chase Ink preferred would work possibly in combination with the Amex BRG which lets you pick some categories along with bonus points for computer hardware.

[Anonymous]

By inventory, I mean buying auto parts in bulk.

[Anonymous]

Spark is a flat 2%.  You can pay every day. Point post daily. Fairly easy to work with   We have had them for years but determined we can do better with Chase Ink or Amex Simply cash but our biz is government contracts and most of our costs are soft costs or pass through expenses and will be changing  in the next week or two.