They want me to apply for a Business loan for 25,000 to 50,000 but they will only give me a credit card of 500 limit. Do you think I should ask for 50,000?
If you go for the loan be prepared to give them everything...SSN, EIN, home or asset of equal worth, financial statements, 1040s, your first born, etc. They will not give an unsecured loan of $25K-50K without an asset as security. Dani
Capital One pre-approved me for a 30,000 car loan. I got the offer yesterday. However, they won't increase my measly 900.00 Platnum card. Platnum, YEAH RIGHT!!! Anyway, I think you should apply for the full amount if you need it. Are you Pre-approved or just invited to apply? An invitation to apply could be denied.
My understanding if you ask for 50,000 & up they want everything but under 50,000 you got a better chance, I think 49,000 sounds better.
Even if you ask for 4K they are still going to want some type of security. It is an installment loan, not a revolving credit card account. If banks gave away unsecured loans at 10K, 20K, and 50K there would be alot of bankruptcies taking place in the financial market. Dani
Dani I know what your saying, Cap one told me they do it this way if they don't feel I can handle the 50,000, they give me what I can handle 5,000 ,10,000,20,000,and so on.I am gonna go for the 50,000 just to see what I will get.
