Business Credit for young corp?

Discussion in 'Credit Talk' started by mephisto, Aug 20, 2003.

  1. mephisto

    mephisto Well-Known Member

    How hard is it to get business credit, say Amex Capital Line, when you haven't been incorporated for at least 1 year? Which cards and LoC should I apply for?

    Here's some background:

    My wife and I formed a C corp in May 2003 and have been doing business (retail) for about a year. We have excellent scores of 746 EQ, 729 EXP for me and wife has 784 EQ. Household income is about 80k.

    So far we have Amex CostCo Business card with 27k and Advanta Cash Reward card with 12.5k but need more credit lines to expand. We expect sales of 380k for 2003 (both pre-corp plus corp).

    I'm interested in Amex Capital Line but the app form says biz needs to be in existence for at least 2 years. Are they strict about it?
  2. mephisto

    mephisto Well-Known Member

  3. Amy B

    Amy B Well-Known Member

    If I were you I'd do a search on biz credit. Some of us have been adding to that thread pretty regularly. Sounds like you are on the right track. There are tons of suggestions on the longest biz credit thread.

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