Hiya all, My friend, I'll call her Sara, got a Pre-Selected business card from Capital One in the mail today. She has crappy personal credit, but the business doesn't have any since she just started it in January. The terms are: 0.00% 6 month intro rate 12.29% APR (as long as she never goes past 30 days late it will be fixed) No annual fee 25 day grace on new purchases. Nowhere on the pre-selection does it say she can be denied, but with her personal credit in such a shambles, is it worth it to apply for the business? Thanks for helping Sara out!
Are they asking for her personal information? Social security number? If not, I would suggest she apply for it.
Advanta Executive I have a similar situation with my gf. She has a small/micro business that does about $3-$4k/month in addition to a regular, well paying 9-5 job. She got an offer for the Advanta Mastercard Executive BusinessCard. Would it be worth her while in submitting the application? If she puts in the offer number on their web site, it comes up with her name, address etc pre-filled on the form but she still needs to put in her SSN, name of business etc. She was thinking of this or the new AMEX microbusiness card but her personal credit isn't good right now.
Capital One gave my consulting business credit, however they wanted to charge us $59/yr membership and the credit line was very small, something like $1000. If you do not have any other business credit, I would try AMEX first, also AT&T and Advanta have given my businesses credit at much better terms than Capital One. www.creditsense.com
Miles, Yes it does ask for her ssn. SO, I guess they chesk her personal credit. Better luck next time, thanks.
