Business Credit Cards

I've received an Amex Gold Corp Card & a Fleet Business Visa with about the same scores.

 

I'm interested in this too, I have an LLC and have a fico of 573. What companies do this and whats the interest rate and the credit limit?

 

Just want to keep this thread going. Hubby has a biz that's many years old, but only recently incorporated. He's used his personal credit cards up until now, but now wants to shift it to business credit cards.

His scores are high: upper 780's to 817, with no derogs ever and low balances.

He wants a good. strong LOC and at least one major biz card with a high CL.

Any suggestions? We don't want to just shotgun it, thus bringing his great scores down!

 

There are very good threads here on business credit that you can conduct a search for.

I have a 4 year old business and recently incorporated it from a sole proprietorship.

In a nutshell, most business credit will require a personal guarantor if your business is new and not incorporated. The first thing I did after locally registering the business was get a Dun & Bradstreet listing (www.dnb.com) and a business telephone number. I am a contract trainer and work at my clients' locations. I also work in my home, therefore, I don't have a physical office. However, you can get a business voice mailbox with most local phone companies that is listed with directory assistance. When I get messages it sends a notification message to my cellular. I also have a business mailbox with Mail Boxes, Etc. near my home.

Thus far, even though my personal FICO is low I have gotten the following business credit:
(A personal guarantor was not required)

Kinkos - Printing and Copying.
Corporate Express - Office Supplies
AT&T - 1-800 number and corporate phone card.
Staples - Office Supplies / Computers
Mail Boxes, etc. - Business Mail Services.

 

Hope,

I think Advanta Business Visa/MC would be a good one to try for your hubby if he has a the score you indicated and no derogatories.

I hear Advanta gives decent credit limits.

I tried, but was declined due to one paid charged-off account. I'm currently trying to get a reconsideration. Will let you know how it goes.

 

Thanks $wealth$

I'll put that one on the list. We are getting biz credit in about a month or 2, because by then, his former house (now a rental) will be sold and the mortgage closed/paid/never late on his Credit Reports.

Thanks, too for the suggestions of office supply creditors. I think we'll pass on this one and go right for the Big Dogs, so as to keep the inquiries at a minimum and get the highest credit limits on the least amount of all-purpose, major cards.

Anybody else got any suggestions/experience?

 

Off subject slightly but how difficult was it to incorporate? Did you hire an attorney or do it yourself? Do the online companies who offer the service really take care of incorporating your business?

 

Just speaking for myself, I did my hubby's incorporating in Texas.

It was all done by printing out the forms from the state site, reading (and re-reading) their instructions, then faxing them back along with the credit card authorization.

I did go to the sites first that do it for you, like Incorporate.com, but I'm basically cheap and didn't want to pay the extra $150 or so to have them do it, since they were basically getting the info for the forms from me anyway. I was tempted, but in the end I had better plans for that extra money and it took just one day to do it, including applying via phone to the IRS for the Tax ID number.

As for office, we pay monthly to an executive suites type firm, so his business mailing address is in the lovely Bank of America Tower, complete with phone number, live receptionist and mail delivery/receipt. We also use that address as our registered agent for now.

He already had a DnB number for some 15 years now. I simply updated the info online to the new address and corporate status. Plus did a change of address for the 1 biz card he's had for years: Home Depot. Opened a biz checking with Chase Bank and got assigned a "Business Relationship Manager". Had corporate stationary printed. And Oila!

 

Amex gives high limit for biz some people have posted 18,000 limit try bank one,bofa,cap one .

 

Re: Re: Business Credit Cards

Hope, how did it go when the brm came to visit your corporate offices?? Were they from chase?