New LLC, denied for Bank of America card - next move?

[Anonymous]

I have just opened up a new LLC. My new business bank account is with BoA and I made the rookie move of applying for a small business card with them, which was denied due to "lack of established revolving credit." 

I called to inquire and mentioned my 732 Transunion credit score, and was told that as my credit history only goes back to when I opened my personal Amex in 2015, that's not enough history. I'm under 30 and didn't open a CC til post-college, so not sure what I can do about that. I make $75k a year and have a $9k balance on that Amex.

Any thoughts as to what I should apply for next? A couple friends are telling me Amex, but my primary vendor only takes MC or Visa so I need to stick to those. My other priority is a decent 0% APR period. I'm starting a small ecomm biz and so would be fine with a $3500 to $5k line of credit.  I was looking at the Capital One Spark cards but am a bit overwhelmed by options. BoA offered me a secured card but I'd definitely prefer to leave that as a last resort. 

[3se7ens]

Try Capital One Spark Business, it was my first business credit card.
Good Luck.

[601flyguy]

I suggest amex since you have a personal account already. Maybe pay down the balance some first? Also, it should only be a soft pull with them for a new amex account.

[sccredit]

I would look at Chase before the Spark card.  Not a fan of the triple pull AND reporting to personal reports.  

[Anonymous]

Chase or Citi would work. The Citi AAdvantage Business reports to the business bureaus, and they will go off your personal score. I got mine when my LLC was very new. Limit might not be too high on it though. But it doesn't report to personal.

[601flyguy]

I still suggest Amex...
No hp and you already have history with them. I applied for the scp and received a 22k starting line with a one week old llc.

[pizza1]

Capital one reports to personal and its a triple pull. I would use them as a very last resort for a card right now. Same goes for Discover., reports to personal..last resort.

I would apply for the Amex Biz Blue or Simple Cash...Doesnt report to personal (hidden).

As far as the BOFA move goes...chalk it up, no big deal. More than likely you'll get a counter offer in the mail  (I did, and wont do it) for their Business secured card with CD ($1.5k min). It does graduate, and you can ask for early gradualtion thru the Biz UW BD # at 5-6 months. 

It's an "ok" option if you have the extra cash to spare, but being a new business starting out, thats usually not the case.