Accessible Business Credit Card

BluAffiliate

BluAffiliate

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Sep 6, 2009
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I recently incorporated my AM stuff into a LLC and I'm trying to use my business name for all the financial stuff to keep everything separated.

I've got 2 bank accounts now but I need to get some business credit cards so in case I don't get paid I don't lose all of my cash flow. However, I keep getting routinely denied to any business credit card I apply for. At first I thought it might have something to do with my personal credit, so I suckered up and got a credit report and score, but they say my credit is Excellent (740+ an all 3 reports) so I'm thinking it has to do with the fact that my business is officially only a few months old.

So far I've been denied by:
Plum Card (Even though I personally own an Amex Platinum)
Bank of America basic business CC
Chase basic business CC
Citicard signature series
Staples Business cc

And I realize the more times I apply the worse it's going to look,

Searched the net but can't really find any info on easy to get business credit cards, so anyone want to recommend one?

Thanks guys.
 
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You could secure it with your personal credit if its as good as you say. Of course if your business goes belly up you're personally on the hook for the debt but its a good way to build credit for your biz, kinda like cosigning for someone with no credit.
 
I don't believe the business credit matters especially for new businesses. I just received a plum card for my S-corp which was established only a couple of months ago. It has no credit history and no D&B number yet. However, I have a very good personal credit and a good spending/timely-payment history with Amex (platinum).

The card was instantly approved when I applied.
 
I would actually talk with your bank - they will probably put it through the Small Business Administration and you'll get a credit line of like $5000 to start if you have good credit. This will help build your credit.

You are also getting denied because you are applying too many times most likely. When Amex pulled your credit...that probably hurt you in addition to you being denied. Amex you need 1 year in biz I believe.
 
webtrend said:
I don't believe the business credit matters especially for new businesses. I just received a plum card for my S-corp which was established only a couple of months ago. It has no credit history and no D&B number yet. However, I have a very good personal credit and a good spending/timely-payment history with Amex (platinum).

The card was instantly approved when I applied.
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Did you use your ssn in the application? Did you use your ssn when applying for your taxid/ein for the s-corp? The only way that it makes sense they'd give credit to a new entity is if they referenced your allegedly good credit at some point and used that for guaranteeing.
 
I went down to ComericA (probably the cheapest, sleaziest bank around.. besides Citibank of course) and they insisted that they could get me a business line of credit for $10,000, no questions asked.. if I signed up for a personal account and a personal credit card. Oh well, I figured fuck it. Hilariously enough I got denied, but they actually gave me a reason: too many credit bureau requests in a short amount of time. I guess I'm going to have to wait a few months.
 
Purchase an old LLC or corporation for $500 +/-. Dont know how feasible it is nowadays to get bsuiness credit just on the business date but, 2 years ago it did work.
 
So I'm not sure if anyone answered this, but is your personal credit linked with you business credit or not?
 
Plum card is crazy selective, no wonder you got declined. If you already have an Amex account, you should be able to get a Blue Cash for Business card pretty easily. Had no problem getting a card for a 2 day old new LLC through Amex with my credit history backing it.

The one downside is that because both your personal & business cards are tied to your SSN, Amex will only approve at most 1 credit line increase every 6 months per SSN - so make note of that if you think you'll need a credit line increase.
 
magicberry said:
get a visa debit card... safer and easier...
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How the hell is a debit card safer than a credit card? Having a debit card removes money from your account immediately, and it's a pain in the ass if you're every overcharged - money is already gone from your account. Even temporary authorizations block you from using money in your bank account.

Having a credit card is much safer & allows you to take time in paying. I've got a 25-55 day window between a charge and when I actually have to pay it out of my bank account - plus, I get cashback.

I've never heard of a legit reason to use a debit card over a credit card - that's just stupid.
 
eVandals said:
Did you use your ssn in the application? Did you use your ssn when applying for your taxid/ein for the s-corp? The only way that it makes sense they'd give credit to a new entity is if they referenced your allegedly good credit at some point and used that for guaranteeing.
Click to expand...

I did not provide my ssn per se. They asked if I have an existing account with Amex and I provided my platinum card information. On the subsequent page I entered my corp. EIN number.
 
This is actually a great topic. Trying to get any type of credit (or anything that requires it) really isn't possible for me yet because well, I just don't have any credit yet.

I'm going to look into Secured Cards and things along those lines to help build my personal credit so I can jump start my business credit based on a stable personal credit history.
 
tvmatt said:
How the hell is a debit card safer than a credit card? Having a debit card removes money from your account immediately, and it's a pain in the ass if you're every overcharged - money is already gone from your account. Even temporary authorizations block you from using money in your bank account.

Having a credit card is much safer & allows you to take time in paying. I've got a 25-55 day window between a charge and when I actually have to pay it out of my bank account - plus, I get cashback.

I've never heard of a legit reason to use a debit card over a credit card - that's just stupid.
Click to expand...

You must not know everything there is to know about debit cards.

Ive been using my debit card I have through Chase for 3 years for business expenses that reach point of sale transactions of almost 6 figs a day for my ad costs.

I get cashback as well for those transactions and since its backed by Visa, I have the same protection on fraud and purchases just like a credit card ( on non pin based purchases ). Temporary authorizations DO NOT block me from using money in my bank account and if I get overcharged all I have to do is stroll into my local branch and my personal banker takes care of it for me on the spot.

Why would I need to wait 25-55 days to pay a bill anyways if I got the cash on hand? If its due now or in 15 days or in 55 days, its coming out of your account, what does waiting 55 days provide you except another statement you get in the mail to pay the bill to a middleman anyways.
 
For those of you that might say waiting 20-55 days provides you earned interest on that money for about a month before you pay... Earned interest on most liquid trad. savings/checking vehicles are almost negligible and after paying taxes on it, its not really worth it. I've been there and done that as well.
 
I applied for a plum after I started my new business after only a month and I got approved.

Did you call them RIGHT after you apply? I dont think they are that selective. Calling and talk to the rep is the key I believe
 
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