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Prior relationship length and type?

Swatch
Regular Contributor

Prior relationship length and type?

I want to apply for a business credit card (with PG) soon. I think I have a good chance at approval with both but it depends on how much they weight DTI (and one of the banks might care about a personal charge off, it's been like 12-14 years though).

 

To help get approved, I could open a business checking account and deposit money there. I know it would be better if I opened the account and gave it over 6 months, but I would like to wait 1 month or less. Would it still help?

 

Would a business savings account be better?

I do AZEO.
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Ficoproblems247
Valued Contributor

Re: Prior relationship length and type?


@Swatch wrote:

I want to apply for a business credit card (with PG) soon. I think I have a good chance at approval with both but it depends on how much they weight DTI (and one of the banks might care about a personal charge off, it's been like 12-14 years though).

 

To help get approved, I could open a business checking account and deposit money there. I know it would be better if I opened the account and gave it over 6 months, but I would like to wait 1 month or less. Would it still help?

 

Would a business savings account be better?


While I am not all that familiar with how certain FIs view adding a business checking/savings as influencing the overall relationship, I certainly do not think that a month of having an account open would make any difference. I know on the personal side of things, there are certain FIs that will base part of their credit UW on relationship status of other accounts you have with them, however a lot of them do not. You will need to be more specific with who and what you are wanting to apply for. Others with experience with those lenders can then chime in with more specific answers to your question.




FICO 8 Sep '21 EX 746 EQ 748 TU 741
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