New Busn Card Accounts with Good Limits - NFCU? - myFICO® Forums

Anonymous · ‎04-23-2019

I have a retail busn that I pay stock order invoices when items are shipped to get a 5% discount. My typical invoice is $2000-$4000 per shipment. Currently and in the past I have been using my Personal NFCU Cash Rewards card as it has a $15K CL. I have a 2nd Cash Reward NFCU that has a $4800 CL. As I order 1-2 times a month this keeps the balances setting about 45-55% utilization at all times. By the time I sell the products and pay off the balances I have to order again. GREAT for Rewards, Sucks for personal Credit lines as my utilization stays above the 10% mark I'd love to get back to.

I have tried to get a *good* Busn card to keep the busn expenses away from my personal lines but due to the utilization that is showing all the time I just can't get a CL that would cover this. I was approved for a Capital One SPARK Busn Card for just $500, and then found out they also report to my personal credit. Kind of defeats the purpose, and the CL is not near enough to use for orders. So it goes in the drawer with the rest I never use. I was also approved for a AMEX Gold Busn Card and the buying power seems to allow me to purchase up to $3K at the moment, but that would require having $3K laying around to pay off the bal in 30 days.

My hope is to apply for a NFCU Busn Card and get as much of a CL as I have on my personal cards. I have a new Busn checking account with them as of this month but have not applied for any busn credit lines due to the Personal NFCU cards always setting at 50%+ Utilization and figured that would kill my chances. My Total utilization on all accounts is right around 24% below the 30% mark but I would like to get it down to below 10% for a better chance of getting good CLs on account. I have a Car loan ($10K), CLOC($4K), 2 Credit Cards ($15K + $4.8K CLs) with 2 years history with NFCU currently. Can anyone with experience with NFCU offer some suggestions or thoughts or other Cards I may go after to get the persoanl dealings off my personal accunts and to a Busn line?

SouthJamaica · ‎04-23-2019

@Anonymous wrote:
I have a retail busn that I pay stock order invoices when items are shipped to get a 5% discount. My typical invoice is $2000-$4000 per shipment. Currently and in the past I have been using my NFCU Cash Rewards card as it has a $15K CL. I have a 2nd Cash Reward NFCU that has a $4800 CL. As I order 1-2 times a month this keeps the balances setting about 45-55% utilization at all times. By the time I sell the products and pay off the balances I have to order again. GREAT for Rewards, Sucks for personal Credit lines as my utilization stays above the 10% mark I'd love to get back to. I have tried to get a good Busn card to keep the busn expenses away from my personal lines but due to the utilization that is showing all the time I just can't get a CL that would cover this. I was approved for a Capital One SPARK Busn Card for just $500, and then found out they also report to my personal credit. Kind of defeats the purpose, and the CL is not near enough to use for orders. So it goes in the drawer with the rest I never use. I was also approved for a AMEX Gold Busn Card and the buying power seems to allow me to purchase up to $3K at the moment, but that would require having $3K laying around to pay off the bal in 30 days. My hope is to apply for a NFCU Busn Card and get as much of a CL as I have on my personal cards. I have a new Busn checking account with them as of this month but have not applied for any busn credit lines due to the Personal NFCU cards always setting at 50%+ Utilization and figured that would kill my chances. My Total utilization on all accounts is right around 24% below the 30% mark but I would like to get it down to below 10% for a better chance of getting good CLs on account. I have a Car loan ($10K), CLOC($4K), 2 Credit Cards ($15K + $4.8K CLs) with 2 years history with NFCU currently. Can anyone with experience with NFCU offer some suggestions or thoughts or other Cards I may go after to get the persoanl dealings off my personal accunts and to a Busn line?

IMHO NFCU's business department isn't great. I would stay away from them. I think Bank of America, or Chase, or Amex would be better.

Unify FCU Platinum Visa Variable Rate 35k

TD Bank Business Solutions Visa (Bus) 25k

FNBO Evergreen Business Edition Visa (Bus) 20k

Liberty (formerly Evansville Teachers) FCU Platinum Prime Plus MC 15k

US Bank Triple Cash Rewards Visa (Bus) 12k

SEG-fenced credit union Platinum Visa 10500

Comenity AAA Travel Advantage Visa $6200

Members 1st FCU Low Rate Platinum Visa 5k

PLOC: Langley FCU 40k; Penfed CU 15k; NFCU 15k; Teachers FCU 15k; Affinity FCU 10k. BLOC: NFCU 5k

Total revolving limits 741200 (620700 reporting) FICO 8: EQ 703 TU 704 EX 687

Anonymous · ‎04-23-2019

I have two AMEX Cards for Personal lines and niether are large enough to use now. My AMEX Cash is only $2K and my Delta rewards is $1K. Im afraid applying for a Revolving Busn Card will do nothing but get me another low CL and add another HP to my report I dont use.

Anonymous · ‎04-23-2019

I have no first hand experience with NFCU’s business side, but from what I’ve read, it’s nothing like the personal side. Customer service isn’t reportedly as good, the credit limits are not as high and they don’t look past credit issues.

You’re, most likely, going to need to PG a business card. Unfortunately, it looks like your FICO scores are held down by some issues on your personal report so that will effect your business credit as well at this point.