Credit Cards

[mataspeed]

I would like to apply for a credit card to buy inventory for my business, I'm looking for a card that's generous with their CL(or what's considered generous for these times) all my scores last I checked which was about 2-3 months ago was in the 720+ and my highest card is 10k Amex Blue, but I don't really want to have a balance on that since I hear they CLD if you carry. Any suggestions?

Thank you.

[itsjustmeibe]

When I app'd for business credit with similar scores, I was able to secure Chase $12k limit, raised to $18k within 9 months, BOA $10k limit & Citi $5k limit

Message Edited by itsjustmeibe on 04-01-2009 08:09 AM

[YoungEntrepeneur]

Approximately how much are you planning to spend?

[mataspeed]

Well I was just rejected by Discover for their cash back business card... I don't know of a bank that will approve me a now as I racked up about 5500/6000 in one of my card for inventory. I need to spend about 2-5k a month...

[RobertEG]

Be advised that not all CCCs report business cards to the CRAs,  I know that Chase does not, at least for the card I hold with them.  It is invisible to the CRAs.  Ask them in advance.

This has a potentially good side to it.  If you open a business card that does not report monthly to the CRAs for accounts in good standing, then you do get the additional CL with them, but it is not included in FICO scoring.  So if you transfer other revolving blanaces to such a card, it might make those balances become immediately invisible to FICO scoring of % util.

Investigate first, if FICO scoring is an issue.  Dont assume that it will be reported as a normal revolving account in your CR,

Message Edited by RobertEG on 04-02-2009 08:24 PM