topic Re: Chase business cc for new llc, if high utilization on another one in Business Credit

Chase business cc for new llc, if high utilization on another one

Georgecash95 — Fri, 15 Nov 2024 07:28:19 GMT

Hi, everyone, I want to apply for Chase ink business cash for my brand new llc with zero credit history, problem is I have another one llc with high utilization on credit cards. I don't have those credit cards on my personal credit report, but I guess bank can see it anyway, and probably it affects my ability internal score. Does it make sense to apply for a new cc with Chase for new llc or I'll get automatically denied or low limit?

Re: Chase business cc for new llc, if high utilization on another one

JoeRockhead — Fri, 15 Nov 2024 12:51:26 GMT

If you're saying you already have a Chase card with high utilization, then yes they'll know about it, and they'll likely weigh it heavily against you. I would say in that scenario, the odds for a denial are high... especially if you've been carrying the high balance an extended period of time.

If your card with high utilization is with another lender and it's not on your personal reports, they won't know and an approval will come down to your personal reports and profile.

Re: Chase business cc for new llc, if high utilization on another one

URHomeInvestments — Thu, 21 Nov 2024 23:53:45 GMT

I had the same situation earlier in the year with my first LLC and formed another entity. The first Chase Ink was easy to get with the first entity, which pretty new. I was high on utilization with the Chase Ink and applied for the new business and was denied for the new business.

Re: Chase business cc for new llc, if high utilization on another one

pizzadude — Fri, 22 Nov 2024 00:04:07 GMT

Interesting link in this post on the same topic