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BANK OF AMERICA BUSINESS CREDIT CARD

MSDEDE78
New Member

BANK OF AMERICA BUSINESS CREDIT CARD

I applied for this card about 2 weeks ago. I received an email with Intralinks login information; they asked for the following:

2 Years Business Tax Returns-Accountant Prepared

2 Years Personal Tax Returns

Copy of Articles of Organization

Resolution Granting Borrowing Abilities

EIN Letter

 

Now, I had to stop and ask myself, "Is this for a credit card or a mortgage?"  I wanted to know if anyone else had success if they chose to submit documents? 

14 REPLIES 14
pizza1
Community Leader
Super Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD

Hello and welcome to the forums!! I dont have any experience with them on the business side, but I can help summon someone who might Smiley Wink
@FinStar

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
Message 2 of 15
FinStar
Moderator

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@MSDEDE78 wrote:

I applied for this card about 2 weeks ago. I received an email with Intralinks login information; they asked for the following:

2 Years Business Tax Returns-Accountant Prepared

2 Years Personal Tax Returns

Copy of Articles of Organization

Resolution Granting Borrowing Abilities

EIN Letter

 

Now, I had to stop and ask myself, "Is this for a credit card or a mortgage?"  I wanted to know if anyone else had success if they chose to submit documents? 


Hey thanks for the tag @pizza1 Smiley Happy

 

@MSDEDE78- I realize these types of document requests tend to surprise some folks, but we're dealing with an unsecured business credit card. It doesn't usually go through the same UW criteria as a personal account hence the reason for the extra documents.

 

IME, I was asked for tax and ID documents eons ago when I applied for the Alaska Airlines Visa Business CC and it was approved. I was not asked for any of the other docs since I applied as a Sole Proprietor at the time. So, the request for such docs is not out of the ordinary depending on what personal income you input, business revenue, business structure, etc.

 

If you want the card, then this is totally up to you. A variety of individuals call it a day and move on if they feel that's too 'intrusive', while others have submitted their docs.

Message 3 of 15
bizcredit11
Frequent Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD

@MSDEDE78 Are You applying for a SBA loan?

 

Just open up a business checking account with BofA. I don't think you should supply all their requests. There are plenty of other lenders that do not request all that info. BofA is just one lender.

 

They denied me sometime back and wanted me to open a secured business card. No thanks. I now have business checking with them and will see if it leads to a business credit card approval. No docs. 

 

Look for alternatives. Hang in there.

 

bizcredit11

Message 4 of 15
MSDEDE78
New Member

Re: BANK OF AMERICA BUSINESS CREDIT CARD

That's for the assistance. I really appreciate it. Smiley Happy

Message 5 of 15
MSDEDE78
New Member

Re: BANK OF AMERICA BUSINESS CREDIT CARD

Thank you Finstar! I was wondering if anyone else actually followed through. When I googled the topic, everyone basically said the same thing: I declined and threw it in the trash. In my experience, I found that if the bank requests docs, they usually approve you upon verification. I was taken aback that they asked for so much information! LOL! Thanks for the insight and information-I really appreciate it! 

Message 6 of 15
MSDEDE78
New Member

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@bizcredit11 wrote:

@MSDEDE78 Are You applying for a SBA loan?

 

Just open up a business checking account with BofA. I don't think you should supply all their requests. There are plenty of other lenders that do not request all that info. BofA is just one lender.

 

They denied me sometime back and wanted me to open a secured business card. No thanks. I now have business checking with them and will see if it leads to a business credit card approval. No docs. 

 

Look for alternatives. Hang in there.

 

bizcredit11


No, I actually applied for the BOA  Business Unlimited Cash card. This is the information that they requested and I have a relationship with them. I could only imagine what they would ask for if I requested an SBA loan...

Message 7 of 15
imaximous
Valued Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD

I just got that same card last week and they didn't ask for any docs. This is my 3rd biz card with BofA, so I suppose I've been fortunate thus far because it's not uncommon for them to request docs.
Message 8 of 15
Uncle_Money
Established Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@MSDEDE78 wrote:

I applied for this card about 2 weeks ago. I received an email with Intralinks login information; they asked for the following:

2 Years Business Tax Returns-Accountant Prepared

2 Years Personal Tax Returns

Copy of Articles of Organization

Resolution Granting Borrowing Abilities

EIN Letter

 

Now, I had to stop and ask myself, "Is this for a credit card or a mortgage?"  I wanted to know if anyone else had success if they chose to submit documents? 


I hear you @MSDEDE78. This certainly sounds like a hassle indeed. Exactly which biz card did you apply for with BofA and did you get a hard pull on your personal credit?

 

I have the BofA Business Advantage Cash Rewards card. Never had to send in any documentation, even when approved for large credit limit increases. This card actually grew over time to a credit limit of $100K. It's currently the largest limit I have on a credit card.

 

Hope you have better luck with your next application!

 

Uncle Money

Personal: American Express Platinum - NPSL | American Express Blue Cash Preferred - $15,000 | Chase Sapphire Reserve - $38,500 | Chase Amazon Prime Visa - $7,200 | Chase Freedom - $500 | Barclaycard Arrival+ - $18,600 | PenFed Platinum Rewards - $25,000 | PenFed LOC - $10,000 | Navy Federal Credit Union Platinum Visa - $25,000 | Navy Federal Credit Union LOC - $10,000 | Citi Double Cash - $12,170 | Citizens Cash Back+ - $8,650 | Citizens LOC Overdraft - $8,000 | Discover - $10,000 | Capital One Quicksilver One - $3,600 | Capital One Platinum - $750 | Valero - $600 | Dell - $3,000 | Lowes Advantage - $30,000 | Macys Amex - $25,000 | The Home Depot - $7,500 | Tourneau - $15,000
Business: American Express Business Platinum Card - NPSL | American Express Plum Card - NPSL | American Express SimplyCash Plus - $10,000 | American Express Gold Card - NPSL | Bank of America Cash Rewards - $100,000 | Capital One Spark Business - $54,000 | Chase Business Preferred - $34,000 | Chase Business Ink - $15,000 | PNC Bank Cash Rewards Visa Signature - $19,000 | PNC LOC $100,000 | BP Business Solutions - $1,500 | KeyBank Mastercard - $6,000 | Staples More Account - $3,500

Message 9 of 15
GApeachy
Super Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@MSDEDE78 wrote:

No, I actually applied for the BOA  Business Unlimited Cash card. This is the information that they requested and I have a relationship with them. I could only imagine what they would ask for if I requested an SBA loan...


(Head scratcher) Is your BoA relationship personal or Business?  Also, how long has your business existed?  What is your biz entity?  Any other similarily named businesses in your state/county or other businesses in your name?

"My Take Home Pay Don't Take Me Home"
Message 10 of 15
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