I'm going to start my own company here in the next few weeks (filling out my entity formation form as we speak) and was thinking what the best business card would be. Automatically my mind goes to the Spark because Captial One has been very generous for me, but I know there are others. All of my relevant information is in my signature and if anything else is needed please let me know! Thanks as always!
Personal:
@Anonymous wrote:
I have the spark card and like it a lot. I've only had a website glitch problem but other than that capital one has been great to deal with. I've gotten two credit line increases since I've had it so very happy with it. Many have had complaints about low limits with the spark card but mine is high at 50k so it's been a nice card.
I've had the simply cash business card from Amex in the past but amex closed it and gave bogus reasons for it. At the time my credit score was 770 so didn't make sense. I applied for it again but they kept declining it. Lately I've been getting more and more places that don't take amex so I'm almost ready to ditch them.
Chase is supposed to have some good business cards but all I have from them now is the freedom card but overall chase has been pretty good to deal with.
One negative with cap one they seem to pull all 3 reports while the others may not. At least for me cap one always pulls all three
Thanks for the input. I would have thought Chase or Amex would be no go's because of my personal bankruptcy, or does that matter with a business account?
@Anonymous wrote:This thread will eventually be moved to business credit where you should look for suggestions.. Personally I'd look at cards from Chase or Amex first before Capital One. Unlike all the other business credit cards CapOne reports to your personal credit and most people find the hidden trade lines of other cards to be beneficial.
Wow I didn't even realize we had a business section haha. I guess that shows I have tunnel vision huh? So does Chase or Amex base decisions on personal things such as a BR or the 5/24 rule for Chase?
@driftless wrote:
OP, what is the nature of your business? I am considering both Spark and Ink and was waiting for my new mortgage to report for ~ 6 months or until Chase sends me a pre-qualified offer, I recently moved my business accounts to Chase. One of the things appeals to me about Spark is that it is likely to start out a higher SL.
It's going to be a pool servicing company and branch out to renovation once I acquire the licensing. It's going to be a part time deal (since I have a full time job now) and once it grows past the point of part time I'm going to transition into it full time. That's sorta what I was thinking with the Spark because I already have a huge limit on my Quicksilver so I figured if I could get a 10K business card that's all I'd need since the start up isn't too much cost.
@Anonymous wrote:
@Broke_Triathlete wrote:
@Anonymous wrote:This thread will eventually be moved to business credit where you should look for suggestions.. Personally I'd look at cards from Chase or Amex first before Capital One. Unlike all the other business credit cards CapOne reports to your personal credit and most people find the hidden trade lines of other cards to be beneficial.
Wow I didn't even realize we had a business section haha. I guess that shows I have tunnel vision huh? So does Chase or Amex base decisions on personal things such as a BR or the 5/24 rule for Chase?
No biggie, a mod will move the thread there eventually. A lot of people don't realize that there is a forum for business credit. Yes, all these cards are going to be based on your personal credit as your personally guaranteeing the account so a BK will affect approval chances just the same as it would if you were applying for one of their personal cards. Sadly at the end of May Chase added their business cards to fall under the 5/24 rule.
Thanks for the reply Irish. So that limits a lot of what I can do. I have to wait until March of 18' for Amex's 5 year BR rule, and I think I've had more than 5 credit accounts in the last 2 years. So other than Cap 1 I wonder what the others would be? I think in my case a card reporting on my personal would be good, except for the whole separation thing between your company and personal...haha.