topic Re: Approved: Cap One Spark Business 2K CL in Business Credit

Approved: Cap One Spark Business 2K CL

Mthorn82x — Wed, 19 Jul 2023 02:00:31 GMT

Decided I wanted to start looking into creating a business at some point so last week I decided to form a single LLC and push forward with establishing business credit. Approved after submitting my documents for the Spark 1% business card with a 2K CL. 643 Experian pulled, no BK, No collections, 15% utilization but 2 personal loans and car loan dragging my score down. Fist time owning a business card and I was given advice Cap One 1% was a good starting point to get my foot in the door. I'll say it worked out good!

Re: Approved: Cap One Spark Business 2K CL

SouthJamaica — Wed, 19 Jul 2023 02:54:45 GMT

@Mthorn82x wrote:
Decided I wanted to start looking into creating a business at some point so last week I decided to form a single LLC and push forward with establishing business credit. Approved after submitting my documents for the Spark 1% business card with a 2K CL. 643 Experian pulled, no BK, No collections, 15% utilization but 2 personal loans and car loan dragging my score down. Fist time owning a business card and I was given advice Cap One 1% was a good starting point to get my foot in the door. I'll say it worked out good!

Welcome to the forum. Congratulations on the approval. Yes, Capital One Spark is a good place to start.

Re: Approved: Cap One Spark Business 2K CL

citymunky — Wed, 19 Jul 2023 10:50:00 GMT

FYI, any Cap1 Spark card that is not their 2% CB charge card reports will report to your personal credit report.

Re: Approved: Cap One Spark Business 2K CL

cashorcharge — Thu, 20 Jul 2023 16:49:07 GMT

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

Re: Approved: Cap One Spark Business 2K CL

Mthorn82x — Thu, 20 Jul 2023 17:06:43 GMT

@citymunky

You recommend then just grow the 1% card then apply for the 2% say next year?

Re: Approved: Cap One Spark Business 2K CL

citymunky — Thu, 20 Jul 2023 19:46:16 GMT

I have no personal experience with Cap1 business cards and how to build that relationship, but I would like let more that 30% (ideal 10% or less) report on the Spark 1% CB account unless you want to tank your FICO Scores.

Re: Approved: Cap One Spark Business 2K CL

SouthJamaica — Thu, 20 Jul 2023 22:20:43 GMT

@Mthorn82x wrote:
@citymunky

You recommend then just grow the 1% card then apply for the 2% say next year?

@Mthorn82x

Be sure to remember what @citymunky is telling you. Capital One business cards, unlike most banks' business cards, do report the balance to your personal credit. So never let a balance of more than $560 (28%) report.