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First business account

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First business account

Hello I just assumed my first business my credit scores are ex:690 trans:709 eq 687 I asking what is a good credit union or bank to start my account off at and where should I try my first credit card I only had my name for 4 weeks. I need help building my business credit profile
7 REPLIES 7
Contributor

Re: First business account

You can open a business checking just about anywhere. Make sure you read the account terms as some banks work better or worse depending on how many /types fo transactions you will be doing (IE My biz doesn't do a lot of cash/daily deposits, so I found a free one that works for me)

 

I started with a Chase Ink card when my LLC was only 5 days old. Took 2 weeks to get approved, but it did come through. ( I do not have a Chase checking account)

Message 2 of 8
New Contributor

Re: First business account

So what was your approval limits your personal credit scores and any advice you can give about dbs
Message 3 of 8
Contributor

Re: First business account

Chase Ink approved for $5k as the business had no verifiable income. 

 

Credit Scores are high 700's low 800's. However, I don't know how much of a role it really played in getting approved / starting credit limit. $5k is actually really low for me on initial opening, so I suspect they just gave a minimal opening credit line. 

 

dbs? 

Message 4 of 8
Super Contributor

Re: First business account


@Quame15 wrote:
Hello I just assumed my first business my credit scores are ex:690 trans:709 eq 687 I asking what is a good credit union or bank to start my account off at and where should I try my first credit card I only had my name for 4 weeks. I need help building my business credit profile

I would start with Chase. They are a strong business bank, and they usually have a nice cash bonus for opening a business checking account.


Total revolving limits 732500 (606000 reporting) 12/4/20 FICO 8 scores: EQ 715 TU 760 EX 735
Message 5 of 8
New Contributor

Re: First business account

I would go with NFCU if you are eligible for membership. The business application can be annoying but once I was approved it has all been seamless. FYI anything over 25K request will require additional details about your finances.

Message 6 of 8
New Contributor

Re: First business account

i have a personal account with them already so how long would the account have to be open before i get a credit card with them i have an account and credit card with them for over 2.6 years. my credit card has no missed payments for 2 years and i had 18k but as of january has 34k on it. specifically i applied for the flagship card in january but closed it after merging the limits together on my cashrewards card to keep the payment history

Message 7 of 8
New Contributor

Re: First business account

oh yeah my credit scores according to myfico are tu711 ex701 ex697

Message 8 of 8
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