Woohoo! Got my Citibank Business Platinum Select card today. It came with a 0% BT option for 15 months from the card opening date!
How do you apply for business card?? Do they use your credit score or business score? Is the card secured through you?
My score but the business info. Citi USA pulled Equifax for this card and my score was 693. Citi SD always pulls TU for me.
I have that offer, I wondered how high the cl would be. I heard they pull eq here....hm. My tu score is not as good.
I wish somebody besides Citibank would offer deals this good. I already have all three of these cards.
daveberk......I only see citibusiness and at&t on this thread (is your at&t personal?) what was the 3rd card you mentioned? At&T IS citibank isn't it?
CL is only $5,000. My first business card was Advanta, started at $5,000 and is now $8,000. Then I got Amex Open Skymiles for $22,500, BofA for $35,000, Chase for $10,000, Fleet for $5,300 and the $5,000 Citi card. I can't really figure out what these people are using to set limits.
Okay the questions begs to be asked if I haven't already lol.....(it's late!) Does the 50% utilization rule apply (as far as you business card users have noticed) to business cards (whether they or someone else jack your rate) or getting new business cards or higher limits? #2 -Daveberk have you thought about combining them? or are they mixed business and personal? Also I couldn't find a reply when I asked you if all retail business cards (incl home depot etc.) did not require a pg. #3- Also....dave (i think) ......which cards are you the happiest with and why? I hadn't applied for fleet or advanta(who did they pull, do you remember?) Sounds like amex and bank of america were most generous (right from the beginning?) with their credit limits. I applied for the chase personal (maybe a springboard into business? I'll have to wait I have 3 recent TU inq now) and citi business. I am waiting to hear from both. My one partner applied for B of A and Amex (approved - don't know the cl) and the other got cap one and mbna (don't know the cl yet)...so we are trying to spread around the pg's for the corporate cards. I personally am carrying a LOT of our business debt because I had a large HELOC and I want to move it to the BUSINESS! Just curious about your recommendations, it's always interesting to hear what is working for you guys. Thanks!
Amy, I've never pulled a business credit report so I have no idea how they go about scoring but hear that they use a score called Paydex and that 75 is considered good. It's likely that high utilization will lower a Paydex score but not to worry. The best time to apply for credit is when you don't need it. Wait for utlization to go down and then apply. Also, I sense that business lending is not as predatory as consumer lending. So I don't see much risk that credit lines will be yanked and APR's jacked for business customers as readily as they can be for consumers. I also assume they view occasional high balances with less alarm Cash flow can be volatile and many businesses experience seasonal fluctuations whcih may require heavy borrowing. As to combining, I doubt that it's possible to combine business and personal cards. There are significant differences in how each is regulated. The personal cards, ATT Universal and Citi Plat Select are not combinable but I understand from another post I read here a while back that Citibank will let you move most of the credit line of one card to another such as ATT to plat. select. I've toyed with the idea of doing this but haven't made a decision yet. I also have an Aadvantage World card used for everyday purchases to get miles. The others are mainly for BTs--cards in waiting if I ever get jacked and have to run for cover. Advanta has a high APR -15.94 for me at least but this also applies to cash advances which makes it competitive on that score. They also have a good BT rate but this is not offered as reliably as Citi's BT offers. The website is excellent and you can pay online. Generous credit line. Started at 12.K and now 18K. Citibusiness has a decent 9.24 APR. The credit line could be better. Only 5K and stuck there now for two years. This may be because I've never charged a purchase but only used it for BTs. You have to call to ask for a BT since they don't advertise them. The website sucks. Very little functionality and worst of all no online payment option. Posting of activity is funky. A payment is recorded as the amount over the minimum for that billing cycle leading to something that looks like this: "$260.00CR" which translates into a payment of $300 after subtracting the minimum $40 payment. This may be helpful in some way for them to know this but I pesonally don't care how much over the minimum I paid. I jst want to know whether they recorded the amount I sent them without doing the math and pulling the last statement to see if they got it right. BofA has a reasonable 10-something APR, a lousy zero percent offer for purchases if you transfer a balance at 10% and maintain the balance throughout the intro period. No online access at this time but the bank says vaguely they are working on it. Generous initial credit line--10K and then there's DaveLV's coup of getting 35K right from the gate! Otherwise, too new to rate.
Dave, Do you remember if any of them pulled EQ? I only have a firstusa inq on there, thought I might try one more. I kinda expected Citi to pull eq but they haven't yet. Chase and MBNA pulled TU and FirstUSA pulled my exp AND my eq. Stinks.
It was three days before I called the status number that I found by searching here and found I was approved.
