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New citizen branches in my neighborhood so I put the application in for a Business Everyday Points. I like the fact they respond quickly and don't sit on an application for 30 days. The SUB was 3x per 1 dollar spent and $325 after hitting 5,000 spent, so about $475. It seems like they've got good rates on some of their other products too if I take on the task of building a banking relationship with them down the line.
I hear they require 3 months of business bank statements which is good for me since I have all that with the revenues flowing in together.
No luck here with a denial.
Denial letter said I was rejected for having a real estate business. I've seen that data point before but thought I'd would give it a shot since its only a soft pull.
Sorry to hear about the denial. I'll probably get flack for saying this but that seems like one of the most flimsy denial reasons if you ask me...
I'm a Citizens business customer they actually have a list of businesses they don't loan with.... Real estate is one of them If you are near a PNC I would try with them.
I also have a real estate business and also was denied a Citizens business card. Thanks @wit2bees for the PNC suggestion, as I have one near me. I use TD for business banking, and they report to personal which stinks. I also have a love-hate relationship with Frost, where I also do some business banking.
Would changing the business type to "Property Management" or "Hospitality" be better?
@URHomeInvestments wrote:I also have a real estate business and also was denied a Citizens business card. Thanks @wit2bees for the PNC suggestion, as I have one near me. I use TD for business banking, and they report to personal which stinks. I also have a love-hate relationship with Frost, where I also do some business banking.
Would changing the business type to "Property Management" or "Hospitality" be better?
That is a good question as I could have filled it out differently for more success. NAICS categories are something you register your business in and Citizens in their application wants you to provide your NAICS code so you would be lying to fill it out otherwise.
@RealEstateGuy89 wrote:Sorry to hear about the denial. I'll probably get flack for saying this but that seems like one of the most flimsy denial reasons if you ask me...
It is. I decided to move on with Elan and got that. What I'm trying to do as well is take advantage of the 0% percent APR period and then payoff the business debt as my revenue rolls in. When the 0% APR offer is ends is honestly as important as the CL limit.
I have a property management company that I have an account with Citizens and a Construction Company. I received PPP loans thru them but they are not budging on the Real Estate use.
@Citylights18 My business is in the entertainment industry and sometimes the NAICS categories are overlapping!!!