cancel
Showing results for 
Search instead for 
Did you mean: 

New Busn Card Accounts with Good Limits - NFCU?

dlvon
Established Member

New Busn Card Accounts with Good Limits - NFCU?

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?





Utilization: 26.1% | INQ: Fault Error Overload
PERSONAL


BUSINESS
Message 1 of 5
4 REPLIES 4
SouthJamaica
Super Contributor

Re: New Busn Card Accounts with Good Limits - NFCU?


@dlvon 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.


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 716 TU 747 EX 715

Message 2 of 5
dlvon
Established Member

Re: New Busn Card Accounts with Good Limits - NFCU?

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.





Utilization: 26.1% | INQ: Fault Error Overload
PERSONAL


BUSINESS
Message 3 of 5
CreditSweeper
Established Contributor

Re: New Busn Card Accounts with Good Limits - NFCU?

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.
Personal Credit -
AMEX: Platinum, Gold, Green, Blue Cash Preferred
PNC: Cash Rewards, Points
BOA: Cash Rewards
NFCU: Flagship Rewards, Cash Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome, IT
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards, Platinum Rewards
Alliant: Visa Signature
Goldman Sachs: Apple Card
BBVA: Clear Points
FNBO: Rewards
Store Cards: Target, Macy’s



Business Credit-
AMEX: Delta Gold, Amazon Prime, Simply Cash Plus
PNC: Visa Business
Synchrony: Lowes
Message 4 of 5
MyDataMyChoice
Valued Contributor

Re: New Busn Card Accounts with Good Limits - NFCU?

Try Sams Club Business Mastercard... No PG if you a LLC/Inc... or try with PG

Also Amex offers the Business GOLD sounds like it may be a good fit


+AU on: 2008 Sears MC $2,001 | 2016 SEARS Store Card $2,001 | 2011 Synchrony Home $5,500 | 2003 FNBO Visa $9,900 | 2008 Macys Amex $3,400 | 2008 Kohls $2,000 | 2008 JC Penny $500 | 2016 TJX Mastercard $1,500 | 2018 AAdvantage Aviator MC $5,600 | 2018 HSN $4,500
Member of: Andrews FCU | PENFED CU | SDFCU | Alliant CU | NASA FCU | NWFCU | Ally Bank | BofA | Merrill | Greenwood CU | Elements Financial CU | Ocean State CU | Wells Fargo | Citizens Bank | Chase Bank | RI Credit Union | US Financial FCU
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.