No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@Anonymous wrote:
After patiently awaiting for our second year business tax returns, we approached the business banker we have been interacting and asked her to apply on our behalf for line of credit. The turn over was 2.33 mil and profit of 110k. There are liabilities of around 250k but all are short term liabilities.
We got the denial notice from the bank today station that liquidity situation and declining revenue.
Anticipating keeping all eggs in one basket may pose risk, we started maintaining two business checking accounts, one with BoA and one with Chase.
I immediately called the small banking CSR abd they connected me to loan department. When I explained her that we are maintaining two bank axcomts abd I can provide the statements as proof that we don't have liquidity issue or decline in sales, the CSR explained that they took the decision based on tax statements. She said unless I have any other tax document supporting our business is doing pretty good, there is no use in trying out for recon.
Question to forum experts: what is the way out? I could really use the LOC to fix the cash flow issues we have. But looks like banks want to isssue credit only when you don't need it. The scores are in higher 700 abd lot of enquiries on personal side of the applicant.
Did you try Chase for a line of credit?