Thanks for the heads up! My new LLC has been approved for $5000 Wells Fargo Signify Business Cash Card.
Data Points and Business credit Journey to this point:
- Personal scores currently 675-698. Under 25% utilization
- Personal WF checking customer for about 5 years
- LLC created Jan. 2024 (online registered agent service)
- Wells Fargo Business Checking account opened Jan. 2024 (90 minute process in local branch)
- Found out while opening account that no Wells Fargo Business Credit Card on Market due to them in process of new business CC product
- SBA Loan was applied for during checking account creation and went to processing but denied a week later due to 5 Yr. old BK
- Applied and approved for Capital One Business card ($2K) late January right after SBA loan denial
- Business Checking and Capital One card basically idle except to pay for small business monthly fees (min. $500 in checking to avoid fee)
- Applied for Wells Fargo Signify Business Cash Card with exact information from my previous WF Business Checking packet
- Application status said pending review
- Next day WF sends me a vague account alert. Log in and see new Wells Fargo Signify Business Cash Card listed with no details
- Next day Wells Fargo Signify Business Cash Card shows limit and rewards account
- Assume physical card is in process but have not seen any communication since the initial "Pending Review"
Being a new 2024 LLC and not having pristine personal credit I think the business credit limits Capital One and Wells Fargo offered me have been fair. Capital one is a wild card at raising limits based on my personal credit with them but Wells Fargo seems like they would increase the limit if I showed documented business revenue to support it. Hope this helps other people with similar scores and a BK but looking into business credit.
