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Understanding the PG - Credit Cards and Other Types of Debt

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gingerdad
Valued Member

Re: Understanding the PG - Credit Cards and Other Types of Debt

Thank you - will look into B of A.  I could not find a 12-month interest free business card, but will monitor (don't need this right away, but planning out the next 18-months).


Starting Score: Equifax FICO 694
Current Score: June 15, 2014: Equifax FICO 825; June 2013 TransUnion 872, Experian 768
Goal Score: Equifax FICO 750


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Message 11 of 14
gingerdad
Valued Member

Re: Understanding the PG - Credit Cards and Other Types of Debt

FYI just got approved for a US Bank working line of credit for $25k for my firm (was turned down for same line 8 months ago, just past 6 months in existence, currently running monthly revenue of $10-11k, and my equifax fico just made a huge jump); right now the startup is a wholly-owned subsidiary of the firm, so working to get the working line available for that bus as well . . . will see what happens.  If I am able to get the working line to exent to the startup, the need for a business credit card with big credit limit goes down a bit.


Starting Score: Equifax FICO 694
Current Score: June 15, 2014: Equifax FICO 825; June 2013 TransUnion 872, Experian 768
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Message 12 of 14
Creditaddict
Legendary Contributor

Re: Understanding the PG - Credit Cards and Other Types of Debt


@gingerdad wrote:

FYI just got approved for a US Bank working line of credit for $25k for my firm (was turned down for same line 8 months ago, just past 6 months in existence, currently running monthly revenue of $10-11k, and my equifax fico just made a huge jump); right now the startup is a wholly-owned subsidiary of the firm, so working to get the working line available for that bus as well . . . will see what happens.  If I am able to get the working line to exent to the startup, the need for a business credit card with big credit limit goes down a bit.


with EQ 775?

Did you provide them proof of revenue or income or?

is this a personal working line or a business non reported to personal credit line?

Message 13 of 14
gingerdad
Valued Member

Re: Understanding the PG - Credit Cards and Other Types of Debt

 


@Creditaddict wrote:

@gingerdad wrote:

FYI just got approved for a US Bank working line of credit for $25k for my firm (was turned down for same line 8 months ago, just past 6 months in existence, currently running monthly revenue of $10-11k, and my equifax fico just made a huge jump); right now the startup is a wholly-owned subsidiary of the firm, so working to get the working line available for that bus as well . . . will see what happens.  If I am able to get the working line to exent to the startup, the need for a business credit card with big credit limit goes down a bit.


with EQ 775?

Did you provide them proof of revenue or income or?

is this a personal working line or a business non reported to personal credit line?

Sorry for the delay in response -

 

-no proof of revenue/income

-business line with personal guaranty

 

I don't know if a factor, but have lots of banking for US Bank for over 10 years, never had a late payment on any of their products, and the firm account as had $30k-$60k in cash in the bank since I opened the account.  

 

Also, should note that the bank's proprietary credit rating for the firm was in the high 500s (nothing deragotory, just very little credit history), so suspect personal credit score is what tipped the balance.  

 


Starting Score: Equifax FICO 694
Current Score: June 15, 2014: Equifax FICO 825; June 2013 TransUnion 872, Experian 768
Goal Score: Equifax FICO 750


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Message 14 of 14
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