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Spark Business Cash too low, won't budge on intial increase

New Visitor

Re: Spark Business Cash too low, won't budge on intial increase

I just applied for Spark Business, since I received the letter in the mail. I was approved for $2000... I stated that my Busines Income is $50k and my Personal Income was $25k. They pulled my personal credit which is only ~650, which may be the reason for the low approved credit limit ?

Message 11 of 61
Super Contributor

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

True, seems like I just have to bite the bullet and play the charge/pay/charge/pay game for 6 months, and anything over 2k ish will just have to go on the Ink for now.

 

As far as pushing payments - will they actually accept any amount

 

yes I do it all the time

 

and if so will that affect charging power

 

it will after a few days

 

- or will it just result in an account balance with the same CL? 

 

it results in a credit balance

 

From what I'm reading this is more common with Amex etc, but not so much with Capital one or Citi...

 

We got this mainly for the 2%, as we have a good amount of spend not in the 5% Ink categories - and in our industry Amex is often not taken sadly.  I didn't see much of a benefit for us as the Amex CB %'s were nearly identical to Ink and the Mastercard never gives us a problem. I

 

I think If we can get up to at least 10k within 6-12 months we should be able to work with the Spark, but it does seem ridiculous to be THAT strict (when she said "we're a conservative lender I was cracking up. Smiley Happy I get it, but if you can't actually use the card for what you need, what's the point?

 

it will grow in time

 

For the web based increase request - are you stuck with whatever amount they offer you to accept or decline? I'm guessing after 6 months it makes more sense to call and have ES manually increase.

 

many people report being given a decision whether to accept or not, and some report that if they decline... & then apply again in a couple of months... they got a bigger CLI

 

in my case however i don't recall being given a choice of whether to accept or decline


 


FICO8 EQ 769 TU 791 EX 764 Total revolving limits 569900 (484900 reporting)
Message 12 of 61
New Visitor

Re: Spark Business Cash too low, won't budge on intial increase

I was just approved for a $2,000 credit line with Capital One Spark. Once it arrives, I will request a Credit Line Increase. Have you guys done that ? If so, what language patters did you use ? How much Increase did they give you ?

Message 13 of 61
Established Member

Re: Spark Business Cash too low, won't budge on intial increase

Thanks all, some good suggestions!

 

I just charged nearly the 2k over the pastweek, paid 110% last night, and will have another 2k charge coming tomorrow as soon as the payment clears. So should be hopeful in a few months when I repeat this a few times to pass 4500 and build some history.

 

It's almost comical dealing with a limit this low, never had to think about it before. However 2% does help, and it will be worth it in the end.

 

I did do an initial request on the web tool which denied, I emailed ES, spoke to 2 people who said no immediately due to the account  being 2 days old. Wouldn't even look into it further.

 

Interesting about Facebook - so is this the same department who calls you back when you email? Will they chat with you through the site about specifics or just take a general inquriy?

 

I'm hoping for at least 10k but I'm sure that will have to happen in at least 2-3 more jumps.


Scores 815-825 I Amex OBC 50k I Discover IT 50k I Citi DCash 20k I Cap1 Spark 11k I Chase Ink 50k
Message 14 of 61
Established Member

Re: Spark Business Cash too low, won't budge on intial increase

sorry - double post


Scores 815-825 I Amex OBC 50k I Discover IT 50k I Citi DCash 20k I Cap1 Spark 11k I Chase Ink 50k
Message 15 of 61
Established Member

Re: Spark Business Cash too low, won't budge on intial increase


bigpoppa1 wrote:

I was just approved for a $2,000 credit line with Capital One Spark. Once it arrives, I will request a Credit Line Increase. Have you guys done that ? If so, what language patters did you use ? How much Increase did they give you ?


Just did this with a new account/2k limit - denied on website and over the phone w/ ES due to account being too new. 815 credit and perfect very long history with a lot more credit than this.

 

 

Scores 815-825 I Amex OBC 50k I Discover IT 50k I Citi DCash 20k I Cap1 Spark 11k I Chase Ink 50k
Message 16 of 61
Established Contributor

Re: Spark Business Cash too low, won't budge on intial increase

You need a CORPORATE Card   (NO PG... usually high limits and requires business docs to start)

 

 

 

 

Capital One

 

American Express

 

US Bank

 

JP Morgan / Chase

 

Citi

 

 

Also, you may want to try the BJS World for Business (Some people have been getting good limits no PG and when asking for higher if they provide docs can see 80K revolving limits)

Message 17 of 61
Established Contributor

Re: Spark Business Cash too low, won't budge on intial increase

It's almost impossible to get a no PG card from any of these issuers unless you're bringing in 10m+.

Most people just use an Amex small business charge card. The limit is pretty much infinite, you can get a massive revolving line with pay over time, and the APR is very reasonable once they like you (~4 years).
Message 18 of 61
Super Contributor

Re: Spark Business Cash too low, won't budge on intial increase


Jenn10011 wrote:

Thanks all, some good suggestions!

 

I just charged nearly the 2k over the pastweek, paid 110% last night, and will have another 2k charge coming tomorrow as soon as the payment clears. So should be hopeful in a few months when I repeat this a few times to pass 4500 and build some history.

 

It's almost comical dealing with a limit this low, never had to think about it before. However 2% does help, and it will be worth it in the end.

 

I did do an initial request on the web tool which denied, I emailed ES, spoke to 2 people who said no immediately due to the account  being 2 days old. Wouldn't even look into it further.

 

Interesting about Facebook - so is this the same department who calls you back when you email? Will they chat with you through the site about specifics or just take a general inquriy?

 

Yes it's the "Executive Office". There is no email access any more.

 

I'm hoping for at least 10k but I'm sure that will have to happen in at least 2-3 more jumps.


 


FICO8 EQ 769 TU 791 EX 764 Total revolving limits 569900 (484900 reporting)
Message 19 of 61
Valued Contributor

Re: Spark Business Cash too low, won't budge on intial increase


SouthJamaica wrote:

Jenn10011 wrote:

Thanks all, some good suggestions!

 

I just charged nearly the 2k over the pastweek, paid 110% last night, and will have another 2k charge coming tomorrow as soon as the payment clears. So should be hopeful in a few months when I repeat this a few times to pass 4500 and build some history.

 

It's almost comical dealing with a limit this low, never had to think about it before. However 2% does help, and it will be worth it in the end.

 

I did do an initial request on the web tool which denied, I emailed ES, spoke to 2 people who said no immediately due to the account  being 2 days old. Wouldn't even look into it further.

 

Interesting about Facebook - so is this the same department who calls you back when you email? Will they chat with you through the site about specifics or just take a general inquriy?

 

Yes it's the "Executive Office". There is no email access any more.

 

I'm hoping for at least 10k but I'm sure that will have to happen in at least 2-3 more jumps.


 


Yes, there is just not for CLI's.
CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
Message 20 of 61