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How would you proceed?

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k84
Valued Member

Re: How would you proceed?


@Themanwhocan wrote:

Hmm, Self employed. Why are there no Business cards in your lineup?

 

Chase Business INK cash: $200 after spending $3000 in first 3 months (thats about 6.66% cash back, not counting the additional cash back listed below).

plus 5% cash back on Office Supply Stores, Cellular Phone, Landline, Internet, and Cable TV services.

plus 2% cash back on Gas Stations and Restaurants.

1% everything else. no annual fee. And it should be a start on developing a set of business cards, as opposed to personal cards.


I had thought about this when I saw the Ink advertised somewhere but I wasn't sure how it worked with regards to inquries and reporting. When I looked at the application it wanted my business EIN and personal SSN. I stopped once I saw SSN because I wasn't sure if that would result in a HP on my report. I meant to read up on it but forgot.

 

If it has no negative impact on my personal credit then I'll start on that.

 


@Themanwhocan wrote:

Why yes, I AM evil. I did mention the 6.66% cash back didn't I?


That got my attention! Smiley Happy


    FICO: EQ: 749 | EX: 754 | TU: 776    FAKO: EQ+: 728 | EX+: 728, EX CS: 787 | TU+: 737, TU CK: 754    Gardening until 1/31/2014
Message 11 of 19
user5387
Valued Contributor

Re: How would you proceed?

Whether a business CC has an effect on your personal credit depends on the situation.

 

Typically such a card has a PG, and thus a hard pull of personal credit.  When I got Chase Ink, they pulled TU.

 

Beyond that, the business CC may or may not report to your personal CRs, and that may or may not be a good thing -- it depends on what you're looking for.

 

For example, my Chase and Citibusiness cards do NOT report to my personal credit, and I like it that way.  Some other business CCs do report to personal.

 

Message 12 of 19
k84
Valued Member

Re: How would you proceed?


@user5387 wrote:

Typically such a card has a PG, and thus a hard pull of personal credit.  When I got Chase Ink, they pulled TU.


Thanks for sharing. I thought that would be the case but wasn't sure. I'll check out what is available in February and see how I go with a couple of business cards.


    FICO: EQ: 749 | EX: 754 | TU: 776    FAKO: EQ+: 728 | EX+: 728, EX CS: 787 | TU+: 737, TU CK: 754    Gardening until 1/31/2014
Message 13 of 19
ptilda
Established Contributor

Re: How would you proceed?

I'm sure you have installment loans being self-employed...?

My Wallet:Fidelity Amex $1K, DCU $3.9K, US Bank AeroMexico $300, Quicksilver $1.3K, Cap1 secured MC $750, DiscoverIT $200, Care Credit $5K, Sportsman Guide Visa $3K, Kay $3K, Jared $3K,American Airlines CC $3K, Amazon $2.9k, Walmart $2.2k, Macy's $800 revolving/$5k furniture, Comenity retail cards $5.55kStarting Score: 618Current Score: 711
Message 14 of 19
k84
Valued Member

Re: How would you proceed?


@ptilda wrote:

I'm sure you have installment loans being self-employed...?


Aside from my leased car, no. I don't have any need for any business loans.


    FICO: EQ: 749 | EX: 754 | TU: 776    FAKO: EQ+: 728 | EX+: 728, EX CS: 787 | TU+: 737, TU CK: 754    Gardening until 1/31/2014
Message 15 of 19
Anonymous
Not applicable

Re: How would you proceed?

Great cards!
Message 16 of 19
Anonymous
Not applicable

Re: How would you proceed?

Lines of credit work well and usually a better interest rate than credit cards and/or their cash advance rate.
Message 17 of 19
Anonymous
Not applicable

Re: How would you proceed?

Not sure if you could work your US Bank Flex Perks Cash Card up to a CL of $5K and p/c to a US Bank Cash+ Visa Signature Card with enhanced cash benefits.
Message 18 of 19
k84
Valued Member

Re: How would you proceed?


@Anonymous wrote:
Not sure if you could work your US Bank Flex Perks Cash Card up to a CL of $5K and p/c to a US Bank Cash+ Visa Signature Card with enhanced cash benefits.

That is my goal for that card. I was recently able to get that CL increased from $500 to $2,000 so I need to use it for a while before I ask for another increase.


    FICO: EQ: 749 | EX: 754 | TU: 776    FAKO: EQ+: 728 | EX+: 728, EX CS: 787 | TU+: 737, TU CK: 754    Gardening until 1/31/2014
Message 19 of 19
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