Applying for multiple cards from same company

[QCS123]

I'm wondering if any has ever applied for multiple cards from the same company and been approved? Or do you just apply for a few cards within 24hours and see what is approved?

We have fair credit (660-696) and need money to cover our small business material purchases.  We bill the clients for the amount, but we need the money to buy the items up front.  We have a small business (not a formal business with EIN, we are self-employed) with a business checking account but everything else is done via personal since we are self employed (remodeling contractor).

I prequalify for 3 AMEX offers (reg cards not business).

Everyday amex, green card and blue cash everyday (update approved for $1,000 not nearly enough)

Currently have a Capital One which I used to rebuilt credit.  Started at $300, then increased (after 3 months) 18mo ago to $2,300.  Utilization across the board is 24% with only the Capital One card at a higher limit.  No dings since 2014, but have tax Lien from 2014.

[Anonymous]

Depends on the lender. Some have let people pick up 2 or 3 cards in the same day, others only allow 1 per X days.

Some allow you to do 2 then FR you and game over.

Work on establishing credit for your business. If they get wind that you're using personal cards for your business they won't like that.

Unfortunately, there's a reason why Amex only gave you $1k. Why is your personal credit where it is? e.g, high util, baddies, etc.? If we can help with that you can apply for a business card, though preferrably you could get a card (even with a low SL) in the business name only. There are tons of resources that know more than I do about business credit.

[QCS123]

A little history.  Back before the economy took a major hit, we were at 720 fico. Self Employed

Due to putting feeding our family (4 kids) first we were unable to pay credit cards

Didn't pay

BofA cards (2)

Discover (eventually settled for partial payment to close it out)

Chase (1)

Tax Lien

Started rebuilding credit in 2015 when we felt we were back on our feet.  Got a Capitol one quick silver with $300 limit.  Paid off every month after 3 months they automatically increased the limit to $2300.  Kept it paid down unti a few months ago and did some xmas shopping.  It's at 80% utilization but credit report shows overall utilization is at 25% across the board.  

Cap 1 (2000 of 2400)

Dressbarn (0 of $200)

Old Navy (0 of $300)

Macys (300 of $2500) Pay off each month

Care Credit (dental $1499 of $6000)

Car Loan (March of this year)

4 inquiries in last 12 months

1 dental credit

3 car loan (all from same purchase with just credit union and Mazda)

Oldest Account

currently open 2007

ever held 1979 (Mervyn's closing hurt us with this one)

tons of late payments from 1013-2014, but 100% clean as of 2014.

Hoever B of A (charge off) still reports to EQ as being late in 2016 and 2017.

Open to advise on cleaning up and gardening.  Our goal is to get back up to 720 and eventually much higher

[Anonymous]

I thought about doing that once and said no way don't push your luck to myself.

[Anonymous]

i would take a look at the tax lien and see if under the new guidelines I could not get it removed. Must have 1) name 2) full  ssn or full birth date 3) address. Many tax leins don't have either the full ssn, they only show last 4 digits and no dob.   

[EAJuggalo]

It used to be fairly common for people to get both a Cap1 Platinum and QS1 at the same time.  I've also heard of people getting an AMEX charge and a revolver on the same day.  I don't think you can do Cap1 anymore.

[HeavenOhio]

Capital One now only issues one new card every six months.

I second the motion above to go for a business card or two. That would be the best fit for your needs. A credit union might be the best place to go for both new business and personal credit.

Don't do anything, however, until your Capital One balance is substantially lower. It's a big red flag right now. At the very least, its balance should be under $690 (28.9% of its limit). Even better would be under $210 (8.9% of its limit).

[QCS123]

Thanks.  I think paying down or paying off the Capt One card is good advice and then we can apply for the Business card in a few months with a lower utilization and some history with the new AMEX BCE card we were just approved for.  I also understand that we can get the tax lien removed if we make automated payments to the IRS.  Once we accomplish those two, we should see a nice score increase.  Our goal is to get just over 700 and maintain and garden, that number should go up a bit over time and when the baddies roll off in three years we should pop up to a nice number.

I still think it's interesting that our new AMEX BCE card account says member since 1991 (we had a card with a tiny balance on it when we went through BK 21 years ago).

[QCS123]

Re: tax lien.  What if it has the wrong birthdate?  I learned recently that the IRS has my birthdate incorrect for some reason.  How do you find out what information is on the tax leins?  Do you mean with the credit bureaus or with the courthouse where filed?