Couldn't tell you what would be a good checking account. I think it depends on how you'll use it - most biz accounts have thresholds where it won't cost you anything. I have a Chase Biz account and as long as it has $1,500 in there any given day, I'm not charged any fees. Tends to offer high ATM options (if withdrawal's would be part of your regular activity).
I've heard complaints about the Navy application process, but don't hear much about them after they are opened. Probably just a pain in the neck app process, but seems pretty easy to maintain after that.
Regarding credit cards, the banks vary on this. I prefer the same as you and after digging all over the internet here is what I've been able to pull together. Some reports online say Amex does report to Biz CRA's, but none of my Amex cards show up. I think some banks only report to specific CRA's but haven't been able to find a definitive list of how they are paired. Hope this helps and good luck!
I generally use this list for business card reporting:
I haven't been able to verify much of it other than Chase and Amex on some bureaus (vis a vis I've never tried to pull SBFE, just don't care enough about my SP) but so far seems accurate.
@Revelate wrote:I generally use this list for business card reporting:
I haven't been able to verify much of it other than Chase and Amex on some bureaus (vis a vis I've never tried to pull SBFE, just don't care enough about my SP) but so far seems accurate.
Great Link @Revelate!
@ThomasJNewton wrote:I need to open a business checking account and eventually want to get a business credit card (as well as some equipment lease financing) for a Wyoming based LLC.
I am looking for recommendations for a good no/low fee checking account provider (happy with either a bank or a credit union), and any suggestions as to what might be a good credit card to eventually get that will not report to my personal credit.
For what it is worth, I currently have personal accounts with Navy Federal CU, First Tech Federal CU, Alliant CU, and NASA Federal CU.
Thanks in advance
1. IMHO Chase is the best for a business.
2. NFCU's business department is nothing like its consumer-side department; customer service is poor. Stay away.
3. Almost all business credit cards report only to business credit. Exceptions -- to be avoided -- are Capital One, TD Bank, and Discover.
@credit_is_crack wrote:Couldn't tell you what would be a good checking account. I think it depends on how you'll use it - most biz accounts have thresholds where it won't cost you anything. I have a Chase Biz account and as long as it has $1,500 in there any given day, I'm not charged any fees. Tends to offer high ATM options (if withdrawal's would be part of your regular activity).
I've heard complaints about the Navy application process, but don't hear much about them after they are opened. Probably just a pain in the neck app process, but seems pretty easy to maintain after that.
Regarding credit cards, the banks vary on this. I prefer the same as you and after digging all over the internet here is what I've been able to pull together. Some reports online say Amex does report to Biz CRA's, but none of my Amex cards show up. I think some banks only report to specific CRA's but haven't been able to find a definitive list of how they are paired. Hope this helps and good luck!
Great info!
We just opened a Chase business account. We are at NFCU but are not appreciated there or have any luck in getting a hold of our "rep". Since the biz rebounded in 2015, we have run $3M though them without a glitch and get squat for it. Not even a simple acknowledgment that we exist. The are inept and worse that a major evil bank when it comes to business. I would not even consider approching them for a loan as they are so impossible to deal with. We are firing them.
