@Expansion wrote:Thank you, @M_Smart007 , I can totally do that. When I'm so used to doing everything on the computer it's easy to forget I can pick up the phone and ask a human
@Expansion, I totally understand the simplicity of the computer.
However, I like to talk to human, as sometimes you can glean valuable info, that you would not normally get.
Every now and then, you get a very well informed CSR, that is more than willing to share some really good info
I always ask extra questions, especially if they sound seasoned and are in a "chatty" mood.
@Expansion wrote:@M_Smart007 one more question: how far apart did you personally space out your business credit card applications, in general? Is there a general rule of thumb for this? My sense is on the personal side every 4-6 months or less, but I know business is its own world with its own rules.
@Expansion, 4-6 months is a good rule to follow. (You really ..cannot go wrong there)
I sometimes will apply for several, then go into my cave for a little while
On the personal side, I really have pushed the limits, just to see what I can get away with.
Have calmed down lately, compared to what I used to be like. I think at one time, I was around 36/24 new personal accts.
Right now I am @ 17/24 ....and currently 3/10 months. I have a get under 5/24 goal.
Fico Friends - now that I've got a $25k approval for my first business credit card from Citizens, the gears are turning in my mind about what to apply for next, once Citizens has been reporting for a while.
Here's my profile, in a nutshell:
I've been working on building my tradelines with net 30s,
monitoring using Nav.
DNB is currently 80, 6 tradelines reporting.
(Staples, Quill, Grainger, Uline, Office Depot, and Nav)
Experian 88, 2 active tradelines reporting.
Equifax is 380, which is "poor." This rating seems to be primarily due to the fact that only one tradeline is reporting to Equifax. But maybe there's something else going on that I can't see.
Personal FICO 8s are:
TU 693
EXP 702
EQ 692
Utilization on individual personal CCs is between 0 and 67% (higher utilization on 0% cards)
as I pay down using the 87/67/47/27/7 "avalance" framework.
Overall personal CC utilization is about 42%.
In business since 2003
S corp since 2016
I have personal credit relationships with
Discover, AmEx, BOA, Wells Fargo, Chase, Citi, Mercury, Santander, Barclays,
and I'm a credit union member with
Navy Federal, PenFed,
and also Apple FCU, Arlington FCU, and NASA FCU.
Suggestions for easy approvals?
My goal at this point is really just to build my business credit.
A good business 0% BTO would be awesome, but more of a bonus at this point.
As always, I look forward to your thoughts
Hello @bizcredit11 ! It's very nice to "meet" you here! Thank you for sharing your experience with citizens. Don't worry -- you're not too late! I haven't applied for a 2nd card and now I know not to I will probably keep my citizens card open forever because it is such a win especially for my first ever business card.
And I agree, I am so grateful to @M_Smart007 for his help and giving -- without that I would never have known to try, and I would still be in the "building my net 30s hoping someday for actual credit" phase.
And I totally appreciate your suggestion to try the NIH FCU business credit card. When I poke around their site, all I can find is a PDF to fill out and either email or mail in: https://www.nihfcu.org/wp-content/uploads/2022/01/Business-Visa-application-2022.pdf
Is this how you applied also? I'm so used to applying online, it feels a bit strange, but -- you know, I'm thinking outside the box now