Nice approval and DPs, congratulations!
@jdsinm wrote:Hello,
This if for what they call their business line of credit (which appears to be what kabbage used to offer/i have not ever had the kabbage loc). Applied 6/21 for this off a mailer. There was no “preapproved” amex language like there is on the mailers for credit cards. There was a $250 bonus if approved offer and with amex soft inquiry history, I thought why not as it would be good to have it in reserve biz credit.
It autofills almost everything if you’re an existing cardholder. You have to link your applicable checking accounts you want as to factor into the approval. They use a third party company that has you put in your user id/password to link. I will say the interface for the linking doesn’t seem to be able to distinguish if a checking account is a biz account or not and relies on you telling it that.
I reported 90K business income and linked two biz (legit biz accounts) checking accounts that showed better then that flow through the accounts.
Went into a review/we will let you know it may take up to 30 days.
Got an email from an amex/kabbage rep (email still had kabbage signature) saying they needed to talk to me. Phone tag for a few weeks with the holiday and finally talked to them today. They said the accounts needed to be “relinked” via the website for whatever reason. Once that happened the system would be able to process the app automatically, etc.
I went online found the two accounts showing up on the main web page looked accurate, but clicked through the “relink” button and preceded again. Approx. less then 60 second after doing that, I got a new message in the online systemand email that said I was approved.
Amount 25100 (don’t ask me about the 100).
Something to note, about 10 minutes later, I got a “inquiry” email from my various services that my Experian had been pulled for this. I read all the fine print on the mailer/letter and it doesn’t say this was a possibility and it didn’t say that as a possibility on any of the screens when applying (I screenshot them all, so I went back and read them again). I did some research on the forum and see some people have indeed gotten a hard inquiry for this too. I am not going to bother trying to fight he inquiry, because the result was worth it imo.
EDIT-UPDATE
Forgot to put that i qualified for the lowest fees/interest. Basically 3% for 6 months, 6% for for 9 months, 9% for 12 months. This makes it very decent vs current prime rate based borrowing.
I’ll update the post once I get a DP on if the $250 gets paid.
General info-
Single amex personal and single amex biz.
Personal is apprx 4.5 years old/ Biz is 1.5 years old
Limit on personal is approx. 23.5 and biz is very close to that.
Had a 0 balance on my amex personal and 0 balance on my biz card
They pulled experian personal with a cali address
No idea if they pulled bus credit
0 inquiry when pulled
Sole P not using an EIN
Score in the 720-730 range
5 year plus old business- 1.5 years of biz credit
18% overall credit card usage/ 14 accounts (personal)
25% overall credit card useage/ 4 accounts (business)
1 outstanding loans/revolving credit (no auto or home)
Personal Income in solid 6 digit area
Credit age 14 years
Inspired by your post, I tried to apply one day, but couldn't log in because of the site's confusion with some ancient Kabbage login I had in the past.
Eventually applied again, this time was able to get past the login situation, had to upload some documents, and got an HP on EX.
A day or two later it appeared that their "linking" of my business account isn't working right, and
I got a message which suggests that they're not seeing the correct revenue. Their user interface gives me no way of replying to the message, uploading documents, or otherwise communicating with them, other than by phone.
Rather than call them, I'm going to just let it play out. If this site is as inept as it appears, I'm better off not getting involved.
