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entering the business world help

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Anonymous
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entering the business world help

need some advice,

 

Im going to be opening  a corp. for construction purposes. and i want to get a business credit card. my scores right now are 745-755. when they ask me for income for the business. right i have 3 lots that has been purchased. which is an investment of 323k. i also have 2 other business partners. when filling out the app do i state myself as owner or partner ?

 

these are noob questions but im trying to learn fast.

 

even though everything will be cash, sometimes companies do not accept check so that's why i need credit.

 

is cap 1 spark a good start ?

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: entering the business world help

You will put yourself as partner on the application as there are 3 of you.  Based on your profile, I'd start with Chase Ink cards.  CAP 1 Spark is a good card but bear in mind it does report to personal bureaus.  If that is something you don't mind, then it is a good card..

 

Amex Simply Cash card is also another one you'd want to look at based on your needs.

Message 2 of 8
Anonymous
Not applicable

Re: entering the business world help

thanks! i dont mind reporting because the purchases made on card will be large and will be paid all each month, so i want it to be reported so show i can handle those balances. 


@Anonymous wrote:

You will put yourself as partner on the application as there are 3 of you.  Based on your profile, I'd start with Chase Ink cards.  CAP 1 Spark is a good card but bear in mind it does report to personal bureaus.  If that is something you don't mind, then it is a good card..

 

Amex Simply Cash card is also another one you'd want to look at based on your needs.


 

Message 3 of 8
Anonymous
Not applicable

Re: entering the business world help


@Anonymous wrote:

thanks! i dont mind reporting because the purchases made on card will be large and will be paid all each month, so i want it to be reported so show i can handle those balances. 


Ok.. Be smart about how you go about it though if you want ti reporting to your bureaus...

Message 4 of 8
Anonymous
Not applicable

Re: entering the business world help

i will .. thanks! Smiley Very Happy

Message 5 of 8
redpat
Senior Contributor

Re: entering the business world help


@Anonymous wrote:

need some advice,

 

Im going to be opening  a corp. for construction purposes. and i want to get a business credit card. my scores right now are 745-755. when they ask me for income for the business. right i have 3 lots that has been purchased. which is an investment of 323k. i also have 2 other business partners. when filling out the app do i state myself as owner or partner ?

 

these are noob questions but im trying to learn fast.

 

even though everything will be cash, sometimes companies do not accept check so that's why i need credit.

 

is cap 1 spark a good start ?


If you are a corp, state yourself as owner.  Some. Business cards don't report to your CR, but I thing cap one does.  Chase Ink would be my choice, doesn't report.

Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 6 of 8
Anonymous
Not applicable

Re: entering the business world help


@redpat wrote:

@Anonymous wrote:

need some advice,

 

Im going to be opening  a corp. for construction purposes. and i want to get a business credit card. my scores right now are 745-755. when they ask me for income for the business. right i have 3 lots that has been purchased. which is an investment of 323k. i also have 2 other business partners. when filling out the app do i state myself as owner or partner ?

 

these are noob questions but im trying to learn fast.

 

even though everything will be cash, sometimes companies do not accept check so that's why i need credit.

 

is cap 1 spark a good start ?


If you are a corp, state yourself as owner.  Some. Business cards don't report to your CR, but I thing cap one does.  Chase Ink would be my choice, doesn't report.


OP is a part owner and has 2 business partners who are also owners..  I wouldn't advise OP to put himself as owner of the business on a CC application...

Message 7 of 8
Anonymous
Not applicable

Re: entering the business world help

Makes sense.

Message 8 of 8
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