cancel
Showing results for 
Search instead for 
Did you mean: 

Formed New LLC in October 2017

Established Member

Re: Formed New LLC in October 2017

How did you apply for the BP Mastercard?  Online, fax, or calling?  

 

New to the boards!  What is CO Spark?

Message 11 of 35
Valued Member

Re: Formed New LLC in October 2017

I applied online and then i received a call the next day to very my income. Please note, BP starts off as Net 14 and after a few months of activity and timely payments, they graduate to a net 30.

As for CO Sparks it means Capital One Sparks issued by Capital One Bank. This business card reports to both the personal and business credit agencies even though its an easy approval.


In the garden until 12/10/2018
Goal is 720+
11/15/17 EQ 591 TU 469 EX 545 FICO 8
02/13/18 EQ 644 TU 624 EX 620 FICO 8
03/10/18 EQ 649 TU 638 EX 638 FICO 8
EQ 23 INQ l TU 18 INQ l EX 20 INQ l
Message 12 of 35
Member

Re: Formed New LLC in October 2017

If CO Spark is reporting on your personal credit then that means you gave thrm your ss #. So you pg it.

Message 13 of 35
Valued Member

Re: Formed New LLC in October 2017

Yes CO was a PG and it reports to both my personal and business



In the garden until 12/10/2018
Goal is 720+
11/15/17 EQ 591 TU 469 EX 545 FICO 8
02/13/18 EQ 644 TU 624 EX 620 FICO 8
03/10/18 EQ 649 TU 638 EX 638 FICO 8
EQ 23 INQ l TU 18 INQ l EX 20 INQ l
Message 14 of 35
Valued Member

Re: Formed New LLC in October 2017

Approved for the following busines lines 

Chevron and Texaco for $500. 

Grainger approved me for $500

BP Fleet MC Increased to $700 (automatically)

Declined for Amazon (Second time)

D&B Paydex Score is 80 (Finally)

Experian Intelliscore is 78 (One tradeline reporting)

Equifax dont know score but one tradeline is reporting

It takes alot of patience to build business credit for a start up especially when you are rebuilding your consumer credit.



In the garden until 12/10/2018
Goal is 720+
11/15/17 EQ 591 TU 469 EX 545 FICO 8
02/13/18 EQ 644 TU 624 EX 620 FICO 8
03/10/18 EQ 649 TU 638 EX 638 FICO 8
EQ 23 INQ l TU 18 INQ l EX 20 INQ l
Message 15 of 35
Established Member

Re: Formed New LLC in October 2017

Eagerly following your progess.

I too formed an LLC very recently (MARCH 28, 2018)

My credit file is very thin (0 credit score) as I'm actually a Canadian citizen building a credit profile in the US. I have a US VISA (8 months old) and US Amex (1 month old) with $5K limit each; I'm awaiting response for another US VISA in the next few days. All these cards were applied for & approved based on my Canadian credit history with TD Bank, RBC Georgia and Amex Global Transfer.

 

Does anyone know How long will I have to build my personal Amex history to get approved for a business Amex?

Message 16 of 35
Valued Member

Re: Formed New LLC in October 2017

Mr Tee716 - Well IMO, approval of business credit is based on a few factors including credibility and compliance of your entity. If you've great consumer credit you can leverage it to fast track acquiring initial business creditcards like Amex. (PG). You may google Amex preapprovals to see if your business will be approved. If you are not preapproved, you may need to go the business vendor route or try another business credit card. Check out Nav.com and use it as tool to check what business credit your company may qualify for. Good Luck!


In the garden until 12/10/2018
Goal is 720+
11/15/17 EQ 591 TU 469 EX 545 FICO 8
02/13/18 EQ 644 TU 624 EX 620 FICO 8
03/10/18 EQ 649 TU 638 EX 638 FICO 8
EQ 23 INQ l TU 18 INQ l EX 20 INQ l
Message 17 of 35
Established Member

Re: Formed New LLC in October 2017

Out of curiousity, what type of products did you buy from these vendors?

I'm having a hard time finding products to buy that I can actually use.

Message 18 of 35
Frequent Contributor

Re: Formed New LLC in October 2017


@MrTee716 wrote:

Out of curiousity, what type of products did you buy from these vendors?

I'm having a hard time finding products to buy that I can actually use.


I'm sure you can use toilet paper.

Message 19 of 35
Valued Member

Re: Formed New LLC in October 2017

Yap batteries, toilet paper, paper towels, Envelopes, office stationery, cleaning supplies, multipurpose microfiber cloths and light bulbs are my favourites.



In the garden until 12/10/2018
Goal is 720+
11/15/17 EQ 591 TU 469 EX 545 FICO 8
02/13/18 EQ 644 TU 624 EX 620 FICO 8
03/10/18 EQ 649 TU 638 EX 638 FICO 8
EQ 23 INQ l TU 18 INQ l EX 20 INQ l
Message 20 of 35