Advice on building business credit sought

[M_Smart007]

@Expansion, Have you tried Citizens Biz MC?

It is only a "SP" on your personal EQ file.

https://www.citizensbank.com/small-business/business-credit-cards/overview.aspx

ETA: Any Targeted FNBO offers override the geographical restriction.

[Expansion]

Thank you, @M_Smart007 , for your suggestion and wise words!  Always exciting to hear from a Legendary Contributor

I actually banked with Citizens long ago when I used to live in Boston.

I went through the online form and got a message at the end to check my email because they needed more information.  And then the email said, "Congratulations on completing your application. We have all the necessary information for the time being and will reach out if anything else is required."  So I guess, sit tight and see what happens?

Thanks for explaining about the targeted FNBO offers.  Any thoughts on how to "reactivate" the old "it's your turn to apply" link?  When I tried to sign up again to be notified when they're "accepting applications," and presumably eventually get a new link, I got the message that they don't do my zip code.  

Happy weekend!!

[M_Smart007]

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@Expansion wrote:

Thank you, @M_Smart007 , for your suggestion and wise words!  Always exciting to hear from a Legendary Contributor

I actually banked with Citizens long ago when I used to live in Boston.

I went through the online form and got a message at the end to check my email because they needed more information.  And then the email said, "Congratulations on completing your application. We have all the necessary information for the time being and will reach out if anything else is required."  So I guess, sit tight and see what happens?

Thanks for explaining about the targeted FNBO offers.  Any thoughts on how to "reactivate" the old "it's your turn to apply" link?  When I tried to sign up again to be notified when they're "accepting applications," and presumably eventually get a new link, I got the message that they don't do my zip code.  

Happy weekend!!

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@Expansion, Your welcome!

Citizens Application sounds like it will go through a manual review. (most of them do)

Here is my Citizens approval (you might gain some insight on their process);

https://ficoforums.myfico.com/t5/Business-Credit/Citizens-Everyday-Points-Business-Mastercard-Approv...

Here are some other Approvals to read;

https://ficoforums.myfico.com/t5/forums/searchpage/tab/message?filter=location&q=citizens+mc+approva...

As far as FNBO, I got in while they were not geo-restricted. I put very heavy spend, and they have given (2) large Auto-CLI's.

The card now sits at $50K. As far as "Any thoughts on how to "reactivate" the old "it's your turn to apply" link? "

You would have to wait for them to open back up ..or send a targeted offer.

Good Luck on your Application, and please keep us updated.

[Expansion]

@M_Smart007 Thank you thank you!  I will keep you posted.  This is extremely helpful!!

[Expansion]

@M_Smart007 THANK YOU FOR THE TIP, IT REALLY WORKED OUT!!

I am completely astonished.

I just got an email that I was approved for a $25,000 business credit card with citizens!!

This is with zero pre existing business credit cards, and just 5 reporting trade lines.

I AM SOOOOO HAPPY!!!!!!!

[Expansion]

@M_Smart007 a couple follow up questions, now that I have this glorious and astonishing approval:

1.  So I applied and was approved for the "Business Everyday Points" card. 

It would be more immediately useful for me to have the "business platinum" credit card with the 0% BTO for 12 months, since BTs are my primary focus right now. 

Do you sense it would be more advantageous to:
-go ahead and ask for a product change to that card right away?

-wait a certain period, use this card in the meantime, and then ask for a product change?

-or, wait a certain period and then apply for a second card, the business platinum, that has the BTOs?

2.  You mentioned that you did high spend on your new card with citizens and it seemed to trigger automatic CLIs. 

When you say "high spend" on your card, can you give me a number range?  or a certain percentage of the overall line?

Don't worry, I"m not gonna buy anything I wouldn't buy anyway, I would just run it through the citizens card first.

THANK YOU SO MUCH for recommending this card -- I never would have thought to look at citizens, and it was very easy! 

They did ask for 3 months of bank statements and I provided six months (since some of my clients pay for many months up front, and others are on monthly automatic payments, 6 months gives a better picture of the overall income flow).   Applied Friday night, approved Tuesday afternoon!

also tagging @FinStar 

[M_Smart007]

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@Expansion wrote:

@M_Smart007 a couple follow up questions, now that I have this glorious and astonishing approval:

1.  So I applied and was approved for the "Business Everyday Points" card. 

It would be more immediately useful for me to have the "business platinum" credit card with the 0% BTO for 12 months, since BTs are my primary focus right now. 

Do you sense it would be more advantageous to:
-go ahead and ask for a product change to that card right away? I would not

-wait a certain period, use this card in the meantime, and then ask for a product change? I would not ask for a PC

-or, wait a certain period and then apply for a second card, the business platinum, that has the BTOs? Use the card and apply for the 2nd card, as honestly they love your personal profile..(and six months of bank statements). don't go on any app spree's, keep your personal profile solid, as this is what will get you these very nice Biz. card approvals.

2.  You mentioned that you did high spend on your new card with citizens and it seemed to trigger automatic CLIs. 

To be clear, the high spend was on FNBO, I ran an excess of 100K through the card in the first 180 days.

While I did run a fair amount of spend, through the Citizens card, the credit limit I received was to low.. to really do what I wanted with it.

When you say "high spend" on your card, can you give me a number range?  or a certain percentage of the overall line? Answered above^^^^

Don't worry, I"m not gonna buy anything I wouldn't buy anyway, I would just run it through the citizens card first.

THANK YOU SO MUCH for recommending this card -- I never would have thought to look at citizens, and it was very easy! 

You are welcome, glad that you got an awesome Approval!!

They did ask for 3 months of bank statements and I provided six months (since some of my clients pay for many months up front, and others are on monthly automatic payments, 6 months gives a better picture of the overall income flow).   Applied Friday night, approved Tuesday afternoon!

also tagging @FinStar 

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@Expansion, Congratulations on your home run Citizens Approval!  ..Just fabulous!!!

I have answered your questions in "Purple" above^^^^^^

[Expansion]

@M_Smart007 this is so helpful, thank you for answering my questions!

One more question: how long would you recommend I wait before applying for the 2nd citizens business credit card?

[M_Smart007]

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@Expansion wrote:

@M_Smart007 this is so helpful, thank you for answering my questions!

One more question: how long would you recommend I wait before applying for the 2nd citizens business credit card?

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@Expansion, TBH, I would call and speak to a Biz. loan officer @ Citizens .. ..JMHO

[Expansion]

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