Thread: Got a Chase Line of Credit!!

Originally posted by Amy B
Hope that's great! How many do you build a year? We'll get there someday....we're building our first (somewhere around 260k) and our rehabs run higher. We've got a lot of inventory right now, I'll be happy when some sell.
George......you have two cards with 100k cl's??? Geez I feel puny! :)
Big...I was wondering the same thing, but they are a great insurance company for us, so surely it's legit. :) Right???

NOT $100,000 ON 2 CARDS...you just make WEEKLY payments on what you buy...

Less then $25,000 for BOTH cards together...(AMEX HATES ME!!!)

Now, now George. AMEX doesn't hate you! They just think you already have more credit than God allows.

lol I thought that was wolverine......348k and he took off right George??lol

That's awesome Hope .....about Hibernia and building! That's like us, I keep looking because we have so much cash tied up right now. Does Hibernia lend everywhere?

Did you apply for the up card with mbna? I did find Farm Bureau biz goes up to 100k I think. We have our insurance with them.

Originally posted by Hope
Got the Hibernia Biz LOC for the full $50k!! I'm so happy I could just bust wide open!!


Now if we get this deal wrapped up we're working on we'll build 3 houses in the very low $300k, 2 in the mid $400k and possibly 1 in the $800k. This last one is a huge "IF IF IF IF IF".

Okay, I'm ready for the next one. Anybody else no of any other biz lines of credit???

About Hibernia, I am looking at their website. Which reason did you give for the money?

Are those custom or spec homes?

And who did they pull? Aren't any of these guys asking about the other inqs?

Originally posted by Amy B
Does Hibernia lend everywhere?

Did you apply for the up card with mbna?

Sorry, please disregard. I just re-read where you answered this question.

BB&T does biz loc's and cc's I see at their website, but they go through the full financials. I will try them in the fall when things slow a little.

Originally posted by Amy B
About Hibernia, I am looking at their website. Which reason did you give for the money?

Are those custom or spec homes?

Those are spec homes. Hubby hates building to suit. It's a headache and he doesn't "suffer fools gladly". I'm the people person. He's the great credit, shoulder-the-wheel, all-business person.

We have the Farm Bureau Line at 25K. We also have 2 AMEX Business Capital Lines at 25K each. You supposedly can only have one Biz Cap Line per business but two of our partners applied on the same day and both were approved by AMEX (since it didn't appear we had one).

I like the Farm Bureau Bank line. I got the idea from a thread about lines of credit on the Finance forum at FatWallet. It appears their FICO threshold is high (we got approved with +/- 720). If you have above 780, I think you get the line at prime. I would give it a shot. The one page app is easy and you just fax it to them.

Originally posted by Hope
Got the Hibernia Biz LOC for the full $50k!! I'm so happy I could just bust wide open!!

BTW, we got started late this year on building, which turns out to have been fortunate. The first half of this year has been spent rehabbing and buying 1 new property that was a bear to drag to the table. Took far longer than it should have and nearly fell through a couple of times.

Anway, it forced me to stay on top of looking for biz lines.

Now if we get this deal wrapped up we're working on we'll build 3 houses in the very low $300k, 2 in the mid $400k and possibly 1 in the $800k. This last one is a huge "IF IF IF IF IF".

Okay, I'm ready for the next one. Anybody else no of any other biz lines of credit???

Congratulations Hope,

Please tell me, Who did Hibernia pull the credit report from?

I don't know if Hope is still posting here. This post is a year and a half old. Even knowing who pulled then doesn't mean they'll pull the same report now.