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Been lurking these forums for a few years now, iI created my LLC EIN DUNS ETC and got Cap1 Sparks with 2k CL....
SOOO... WHAT NOW? LOL
Wait a few months for more?
@Anonymous wrote:Been lurking these forums for a few years now, iI created my LLC EIN DUNS ETC and got Cap1 Sparks with 2k CL....
SOOO... WHAT NOW? LOL
Wait a few months for more?
Congrats on the approval.. I hope you know the CAP 1 business cards report to personal credit reports like your personal cards. If you need more business cards, you may want to look into Chase, Amex, U.S Bank, BOA and Citi...
as long as i get More business credit i dont mind the PG, my business has healthy cash Flow... and me as a manager so.... do i garden the cap 1?
@Anonymous wrote:as long as i get More business credit i dont mind the PG, my business has healthy cash Flow... and me as a manager so.... do i garden the cap 1?
Congrats! Although the above is a little confusing. Do you mean more business credit as in additional cards that will help your business credit profile? Because the one you were approved for isn't helping to build your business credit as Yes-Its-Me has pointed out. If you mean all you wanted was additional available credit in general then that I understand.
As far as gardening its hard to say. Not sure what your scores are, how many inquiries you have (you likely have 3 inquiries from Cap 1 for this Spark card), AAoA, general credit profile or if you're looking to get a business card that actually reports to business credit in the near future.
Congrats OP
Not sure which card you got you didn't state but BRAVO
Think I should clear up some things about Cap1 business cards
Yes they will report to your personal credit reports and thus could affect your UTL but this can easily be managed with multiple payments and knowing when your cut dates are. Easy Pesy
Cap1 cards do in fact help build business credit and report to EX, EQ, business reports but not DNB
Most don't report to DNB as they have become to expensive for lender reporting TL's and pulling business CR's (Dinosaur)
Cap1 in fact was my first TL on both reports (EX EQ) business CR's which lead to Amex opening doors and with proper management of the TL it will not affect UTL or scores in fact can help personal credit.
Easiest way for me was to make Cap1 the only card reporting a balance.....then pay in full
Golden rule all cards $0 except one that reports 1-9% Lol (Cap1 business)
Also to note sometimes the AF cards are not always worth it in the long run when you can get the same thing for free
6 months after being approved for the sparks classic I contacted EO and asked for my account to be upgraded to the 2%rewards (approved) so this has been a great card for me with 2% on all purchases with no AF
I passed the trick on to the forum over a 1 1/2 years ago but its very seldom used (shame)
Just putting it out there again
OK, Sorry for the Confusion. I am Looking to Build Business credit... That is my main goal Rigth now. my credit scores are
EQ 653 TU 665 EXP 670 Though i just moved and had to use one of my CC for my new apt. so il just use my Cap 1 and hope more com in the mail because of good use...
@Anonymous wrote:OK, Sorry for the Confusion. I am Looking to Build Business credit... That is my main goal Rigth now. my credit scores are
EQ 653 TU 665 EXP 670 Though i just moved and had to use one of my CC for my new apt. so il just use my Cap 1 and hope more com in the mail because of good use...
If you are looking to build business credit, work on getting your score up a little to get decents limits and good cards. So garden for a while with the new card before applying for anything new..
6 months after being approved for the sparks classic I contacted EO and asked for my account to be upgraded to the 2%rewards (approved) so this has been a great card for me with 2% on all purchases with no AF
I passed the trick on to the forum over a 1 1/2 years ago but its very seldom used (shame)
Just putting it out there again
Thanks for that tidbit. I too received a Cap1 Sparks card the other day and used it, only to get denied because I tried to make 2 "large" (lol) purchases one after the other. I called the # on the card and they transferred me to the fraud department. After being asked several questions and put on hold for 15 minutes, the lady hung up with me and called me back to be sure it was me that she was dealing with. Then she released the funds and stayed with me on the phone to make sure that my purchase would go through. I asked her about cli and she said I can make the request in 6 months.