Very first business card approval: Citizen's Bank $5K SL

[4sallypat]

https://imagizer.imageshack.com/v2/320x240q90/923/tiQqSA.png 

My very first business card !

Have had an online business for over 20 years as a sole prop but never separated personal and business as I always just filed a simple Schedule C with my 1040...

Recently due to a new home purchase, preparing for retirement, and life changes, my accountant suggested I switch to a separate business accounting.

Never really had much luck with business credit or accounts (except for some tradelines).

Accountant suggested I try the Citizen's Bank biz account to keep expenses on that account only.

SP personal credit, EXP Biz pulls only.

Love this forum!

[Shooting-For-800]

Congrats!

[cashorcharge]

That’s terrific @4sallypat ! I certainly like the Personal SP route.  I am guessing Citizens then would not report to your personal CB?Congratulations on your Citizens approval!! 👏🏼🎉🍾

[pizzadude]

Congrats on the Citizens approval!  Did you have any previous banking or credit relationship with them? 

[4sallypat]

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@pizzadude wrote:

Congrats on the Citizens approval!  Did you have any previous banking or credit relationship with them? 

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Prior to the business card, I have only 3 personal Citizen's accounts for the Apple iPhone upgrade program.

Don't know if the personal accounts had any bearing on this business account.

I do know that they do report to EXP Business, EQ Business, D&B....

For a soft pull on personal EXP and hard on business EXP, it's a great way to get a small business started.

[ScorpioRising]

Congrats on your approval! I agree with the comment about this forum. It really is a great forum 👍 

[MmmarkAz]

@4sallypat Congrats on Your Citizens Bank Biz Approval..😃Nice SL! Have my👁️on that 1

[Anonymous]

@4sallypatCongrats! Are you still a sole prop? I have both a C-corp and 1099 comp (sole prop). The C-corp is still in development so I have been in search of cards for sole props that won't affect personal utilization <- if you saw my comment on your other post, this is one of those "credit" reasons why I want a biz card as a sole prop.

I can see where the biz card as a sole prop for you may fit in the "organization" reason bucket, especially if you have to go with an unconventional mortgage app, i.e. using bank statements, etc., as opposed to tax returns b/c we take advantage of as many tax deductions as legally possible, which sometimes understates your income on tax returns.  That led PenFed to deny me on the PCR a couple of months ago, but they just approved me 2 weeks ago for a $39k auto loan.

[4sallypat]

Unsecured credit seems to be more difficult to obtain compared to secured (auto financing, HELOC), etc...

I have been a sole proprietor for over 2 decades and never separated business from personal so this move into the business credit world is amazing!

Should have done this long ago...

BTW: This forum has some of the best advice for both personal and business credit!

[4sallypat]

UPDATE: 11/6/21 -

Card finally arrived.

1 month after approval.

Guess I can't complain as it was a SP only business card.