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Yes, Capital One Does Company Changes.
They will ask you to send in written request on lettered stating the company change, who is authorizing it, and personally guaranteeing it... since it's just the company changing and not the account owner, it's fairly quick from there and they will send out a new card with new company.
no credit checks or anything like that.
@lindsaydruart wrote:I doubt it because I believe they check business credit as well so the new business would need to have some credit. Doesn't hurt to ask though.
No, Cap1 doesn't check business credit and if they do it has no baring on credit decision.
@CreditUnionFan wrote:
@CreditJim wrote:I have an old Cap One Spark from our first business that I don't use at all anymore. I recently started a second business, and it could benefit from the 0% offers I keep getting on the Spark so I'm wondering if Capital One would let me update the account to be in the name of the new, second business, so that I didn't have to incur a triple pull to get another card?
It's worth calling and asking. It sounds like it may include the business name, business type, and EIN all changing. You won't know for sure how likely they are to change it until you call.
If you've dealt with their branches, there was a recent in-branch offer for the 2% cards without the usual annual fee. Rumor has it you also still get the $500 or 50,000 mile bonus.
Whether you could still use the old credit line as-is should consider that the cardholder agreement likely states that all purchases are business and not personal purposes. You may have PGd the old business card, but if that business no longer exists it may not be kosher per the card agreement.
That sounds like a good offer but I'm trying to avoid the dreaded triple pull. The original company still exists, is doing great etc, we just don't use the Spark for it anymore. We've kept it as a backup credit line basically. That company has a few full time employees so I give them all an SPG business card to maximise my SPG points earnings
The Spark, as it is, has just sat unused for a couple of years now. They even gave me an auto CLI, from $8k to $16k, a few months ago.
@Creditaddict wrote:Yes, Capital One Does Company Changes.
They will ask you to send in written request on lettered stating the company change, who is authorizing it, and personally guaranteeing it... since it's just the company changing and not the account owner, it's fairly quick from there and they will send out a new card with new company.
no credit checks or anything like that.
Thanks, going to try them now.
Just got off the phone with Capital One. Very pleasantly surprised at dealing with their business CS, haven't called them for a long time. They had all the relevant info to hand, and Creditaddict was on the money, exactly as you said. Sounds straight forward to change the account into my new business' name and EIN. Perfect for taking advantage of the 18m 0% offer to fund some equipment!