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BANK OF AMERICA BUSINESS CREDIT CARD

MSDEDE78
New Member

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@Uncle_Money wrote:

@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


This is my first application with them for a business card. I have several business accounts with them; I just decided to go ahead and apply for a card because I've been with them for 3 years now and I've never applied for any of their products. 

I did receive a hard pull on my TU for the card which at the time was a 768.

I applied for the Business Advantage Unlimited Cash Rewards card. 

I am hoping that once this process is over and my approval is complete, any subsequent requests can automatically be approved. 

Message 11 of 15
MSDEDE78
New Member

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@GApeachy wrote:

@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?


1. All of my BOA relationships are business.

2. This particular business is 3 years old.

3. It is an LLC.

4. I am the only business with this name. 

5. All of the companies that I own aren't similiarly named; they are all different.

 

I can only assume that the doc request was due to the fact that I've never applied for anything with them, and they just want to verify everything before approving anything. The app was done online; the cust serv rep told me that if I did it in person it still would've ended up with the same end result so I'm just going through the motions with them for now. 

Message 12 of 15
GApeachy
Super Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@MSDEDE78 wrote:

 

5. All of the companies that I own aren't similiarly named; they are all different.

 

 


I believe it's #5 as to why they are diving deeper. Either quantity and/or timelines perhaps but FI's will want the whole picture, not bits and pieces.

"My Take Home Pay Don't Take Me Home"
Message 13 of 15
bizcredit11
Frequent Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD

@MSDEDE78 What kind of info was asked when you opened your BofA business accounts? In person or online?

 

bizcredit11

Message 14 of 15
GApeachy
Super Contributor

Re: BANK OF AMERICA BUSINESS CREDIT CARD


@MSDEDE78 wrote:

I have several business accounts with them

 

 I've been with them for 3 years now 


So this particular business I'm under the assumption is not tied into one of those business banking accts you already have with them...  Correct?...being they are requesting Articles of Organization on this one particular LLC.  Is that about right or no?

 

In any case, I hope they are satisfied and open the door to you andvyour biz endeavors. 

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