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Help ..... How to Start business credit ?

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
New Contributor

Help ..... How to Start business credit ?

I want to apply for a business credit card seperated from my personal credit  ??? Any advice


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Message 1 of 7
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Established Contributor

Re: Help ..... How to Start business credit ?


@Ms-CreditNurse wrote:

I want to apply for a business credit card seperated from my personal credit  ??? Any advice


Apply just like you would for a personal card. The approval is going to be based on your personal credit, so expect a HP on whatever bureau(s) the lender pulls. How long have you been in business? Type of structure?

Just in case, be prepared to submit business docs if they request any. 

BofA (PR, AS) | Barclays (Uber) | Cap One (Savor) | Chase (CSR, CF, CFU, CIC, Amazon) | Citi (Prestige, DC, Costco, Costco Biz, AA Biz) | Discover | PenFed (Pathfinder) | Synchrony (PP 2%, Lowe's, Amazon, PP Credit) | US Bank (AR, Cash+)
Message 2 of 7
Community Leader
Super Contributor

Re: Help ..... How to Start business credit ?


@Ms-CreditNurse wrote:

I want to apply for a business credit card seperated from my personal credit  ??? Any advice


Do you actually have a business? 


Scores held down by umpteen INQ & New accounts, and a paid off loan and new loan reporting.
~~~BK7 d/c-08/2013......my rebuild worked for me, but won't necessarily work for you.~~~
Message 3 of 7
Regular Contributor

Re: Help ..... How to Start business credit ?

 


@pizza1 wrote:

@Ms-CreditNurse wrote:

I want to apply for a business credit card seperated from my personal credit  ??? Any advice


Do you actually have a business? 


I’m wondering the same. If so apply for one. It will be based on your personal credit as said above. 

Started in Feb 2017 @ 503 (not sure which CRA, just my score from a car loan)
(1/03/18) Fico 8 EQ 649, EX 633, TU 702

Heavy Use:
PenFed Auto Loan (Refinancing to ETFCU)
NFCU CLOC $15k - NFCU Flagship Visa $10k
ETFCU Prime Plus MC $5k - DiscoverIT $2.2k

Moderate Use:
JC Penny SC $6k - Wayfair SC $4.5k
Walmart SC $3K - Zales SC $1.75K
Amex Hilton Honors $1k

Seldom Use:
Cap One QS1 $1.55k - Belk SC $1.5k
Merrick Bank $1.4k - Amex Delta Blue $1k
USAA Classic Amex $0.5K - CareCare $0.5K
PayPal MC $0.3K

Business Accounts:
Amazon Corporate $4.5k - Fuelman Fleet $1.2k
BP Business Solutions $1.2k - Staples $1k
Office Depot $1k - Quill $0.1k - Uline $0.1k

On Chopping Block:
Mattress Firm SC $1.5k - Finger Hut 1K - Target $0.3k

Too many R.I.P. cards to list!!! Some from personal closure, some from AA :/
Message 4 of 7
New Contributor

Re: Help ..... How to Start business credit ?

No i dont have a business yet  but for funding my business just incase i have to buy supplies or get a business loan in the future i want established business credit not attached to my ssn


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Message 5 of 7
New Contributor

Re: Help ..... How to Start business credit ?

example for a llc company do i need ein , business telephone number & address , business checking account , business website or what ?


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Message 6 of 7
Regular Contributor

Re: Help ..... How to Start business credit ?

If I’m not mistaking on Sam’s Club offers a business credit card NOT attached to a social now. They all ask for a social and will pull personal credit. You will use an EIN to have it report to business credit if you have a business, but if you default it goes negative on business and personal credit.

Started in Feb 2017 @ 503 (not sure which CRA, just my score from a car loan)
(1/03/18) Fico 8 EQ 649, EX 633, TU 702

Heavy Use:
PenFed Auto Loan (Refinancing to ETFCU)
NFCU CLOC $15k - NFCU Flagship Visa $10k
ETFCU Prime Plus MC $5k - DiscoverIT $2.2k

Moderate Use:
JC Penny SC $6k - Wayfair SC $4.5k
Walmart SC $3K - Zales SC $1.75K
Amex Hilton Honors $1k

Seldom Use:
Cap One QS1 $1.55k - Belk SC $1.5k
Merrick Bank $1.4k - Amex Delta Blue $1k
USAA Classic Amex $0.5K - CareCare $0.5K
PayPal MC $0.3K

Business Accounts:
Amazon Corporate $4.5k - Fuelman Fleet $1.2k
BP Business Solutions $1.2k - Staples $1k
Office Depot $1k - Quill $0.1k - Uline $0.1k

On Chopping Block:
Mattress Firm SC $1.5k - Finger Hut 1K - Target $0.3k

Too many R.I.P. cards to list!!! Some from personal closure, some from AA :/
Message 7 of 7