Could anyone who uses one or both biz cards tell us why they like or don't like them? When you applied do you remember what your personal credit was like and what your paydex was? Did they care about number of inqs or new personal revolving that is reporting? I know we could pay advanta online, what about FNBO?
I've had a checking account and a line of credit there for a few years and their service is great. Don't know what my credit was like back then but it was pretty good I think (pre divorce impact).
Could anyone who uses one or both biz cards tell us why they like or don't like them? We use Advanta for 2 different businesses. CreditWorks got an original line of 11,000 it is now over 26,000. They offer teaser BTs periodically, we have to be careful with their go to rate. When you applied do you remember what your personal credit was like and what your paydex was? Credit has always been great, don;t know paydex. Did they care about number of inqs or new personal revolving that is reporting? Don't think so, but I am not sure. Utilization was pretty high on a personal level when we got the line of credit. www.creditsense.com
Does anyone know how INQ on personal report show up if you need a PG for business credit? At a first glance it may look like you're getting turned down because of not seeing the trade lines to support the INQ.
Re: Advanta vs 1st Nat'l Bank of Om Amy I have Advanta. Don't know what our paydex was at that time - however I remember my score on Ex (which is what they checked) when I applied was 712 with around 4 or 5 inq over the previous 6 months. They were somewhat conservative with the initial cl - which was 12.5K - I received higher cls on Amex and Chase biz cards - BUT - they're easy to deal with and the terms are good - 0% for a year - 8.74% ongoing after that. Also - another plus - found out today that they upped my cl to 15K - never asked for it - it was an internal thing i guess - and they didn't pull any credit reports. I've had the card for 9 months. Overall - I like them.
Hm good point, and the inq does show up. I was toying with the idea of faxing the FNBO app in without a pg just to see if they pulled a soft. Would be a neat coup if it worked huh? Thanks Mark, we are going to try them. I was wondering how you got so high initial cl's? Did you have a long personal history of higher cl's? Chase started us with 7k and citi with 8k and our biz income and personal income is good, but we didn't have huge cl's personally at the time. Now they are growing.
Re: Advanta vs 1st Nat'l Bank of Om Advanta is a revolving card. AMEX gave us a card and a LOC. www.creditsense.com
Re: Advanta vs 1st Nat'l Bank of Om Ok just wanted to make that clear. Did you already have a history with amex when you got the loc?
Re: Advanta vs 1st Nat'l Bank of Om No, we got the Optima and the line at the same time. No prior history for the main stockholders, my sister and my then girlfriend, now my wife. www.creditsense.com
Re: Re: Advanta vs 1st Nat'l Bank of Om Mark, our promo mail says 0% til 9-04 BT (I thought 03 so I'm feeling better lol) but then go to is like 10.24 variable. (5.99 plus prime I think). How negotiable would they be later?
Re: Re: Re: Advanta vs 1st Nat'l Ba amy - i'm just guessing here - but it seems to me they are flexible. try to get it dwn to 8.74 - which i think is what I got. my biz partner also has an Advanta card - a different one - and I think that even if they don't agree to lower the ongoing apr - they're pretty good with all kinds of lower apr offers - after the initial O% offer is over. Good luck!
Re: Advanta vs 1st Nat'l Ba Thanks Mark, btw, do you have fleet business? I'm getting kind of a negative feeling about fleet from posts here. what do you think?
Re: Re: Advanta vs 1st Nat'l Ba don't have Fleet i applied last year for their biz card but was turned down due to too many niquiries - have also read bad things about them - don't plan on applying for them again.
Re: Re: Advanta vs 1st Nat'l Ba Was B of A biz hard to get? I heard their biz dept checks exp and that's my most inqs....although I am hearing they aren't as worried about that for biz cards. Did you have your biz mgmt (is it loc or reg biz card?) before blue? We have the amex open biz mgmt cc and they started us with 5k. We were thinking when the 90 days was up go for the loc. How do they like to see you pay? How has chase and citi biz been for you? They gave us 7 and 8k respectively. I wish chase would do loc here.
Re: Re: Advanta vs 1st Nat'l Ba Bofa wasn't hard to get - but i imagine it's because my biz partner and I both have our personal and biz checking accounts with them - and i also have a personal cc with them. Regarding limits - it obviously varies from bank to bank and depends, among other variables, on your annual revenue and the color of your eyes (just kidding, they're blue) Anyhoo: Bofa Biz gave the max: 35K Amex Management gave: 19.1K Amex Blue Biz (applied for 6 months after Amex Mngmnt ): 10K Chase Biz: 18K Advanta: 12.5K (they upped it to 15K later on - without me askin - sweet) CitiBiz: 12K Score was in the low 700s when i applied for all of these - all within the last 12 months.
Re: Re: Re: Advanta vs 1st Nat'l Ba Geesh, that's great! they offered you a lot.... we have great income and biz revenues, but they seemed squeamish at the less than 5 years of bank revolving credit (non retail.) At least for personal cards Mbna kept asking about it. I didn't ask for reconsideration for chase biz cards. Citi gave us 8k, amex 5kand neither would reconsider, chase gave us 7k. At the time we didn't have a paydex, but scores ranging from 696 to mid 700s. Now we have an 80 paydex. Do you have a long credit history? How do you use them now? Use a lot and pay in full or are you revolving any balances?
Re: Re: Re: Re: Advanta vs 1st Nat' Amy- Personal credit history is 5 years 8 months (lived out of the country for many years - left USA when i was a teenager - didn't have any credit history when i returned) However the business is a little over 8 years old - and my oldest personal card is a bank of america visa with a 31K limit - that might have helped with the biz credit limits - or maybe it's what they evaluated from our D&B report - i dunno what our score is there. Also - what may have helped - aside from Advanta - i have personal credit cards with all of the companies that gave me biz cards. So maybe they also look at your internal rating with them on the other cards - but - who knows for sure?
