Got a phone call from US Bank with a rep telling me that I had a mail in offer for their Business Platinum Visa. I asked them a few clarifying questions - odds of approval, etc. I had them pull the trigger and instantly approved for 3k.
General Data points:
- My scores are average (Eq635, Tu633, Ex632). They pulled TU
- 1 Inquiry on my report from 12/2021
- Absolutely NO business credit history! No net 30s, no other credit cards, just a business bank account, DUNS number, and EIN
- US Bank Mortgage in good standing: I think that what I had going for me is that I have a mortgage with them that has a good on time payment history. Been with them for 5 years, and I think I have 3 30day late marks over that time period, plus forbearance during COVID(2020-2021).
- 0% apr for 20 mos
- No past due or derogatory accounts
- Several paid charge offs
- Everything in credit file is either current or paid
I am really happy to have this card to start building my business credit! Had several questions about getting this process started, and was skeptical about the best path.
I asked for a reconsideration on the SL, requesting the maximum SL of $25k (rep said I could be approved for "up to" $25k). Hard pull on TU again (so 2 HPs total). Got a call from the HV (High Value) Portfolio Business Card Consultant, who informed me that the UW denied the CLI, but she would advocate in the renconsideration process. I had to send her a few additional docs - so fingers crossed on the reconsideration....will post the results in this thread.
Starting Score: 611
Congrats on your US Bank Business Visa Platinum approval and rooting for underwriting to increase your SL.
@jaxstraw good call. CLI was denied. No worries, just getting a tradeline with US bank is an accomplishment that I can build on in the coming years.