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Discussion in 'Credit Talk' started by Ron, Aug 5, 2003.
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I just called new Home Depot Customer Serive to ask question regarding Home Depot Card. I asked her "Do I need to re-apply for new Card? She said "NO. "The previous Home Depot Card card holder will receive a new card from Citibank within 7 to 10 business days. The Home Depot Card has a new Citi log in the back of the card. The card has a different account number. The customer service will not tell you the new account number over the phone for security purpose. I like the new Home Depot having a new hologram like Discover Card.
Here is FAQ:
Very interesting. I've been thinking of starting a business credit identity using Lowe's, Home Depot, Exxon Mobil, CITGO, 76, etc.
They don't offer the Terms and Conditions on the site, as far as I can tell. Do you have any idea which Citibank issues the card?
It seems to be issued by Citibank USA. If you go to the FAQs section it gives some requirements.
Do you have a link? I'm curious. We have the "old" one I guess..... Did they not buy lowe's too? Might explain why lowe's gave us more credit than depot.
Rich...the cards you listed don't require a pg I'm guessing?
LOWES--->Monogram Credit Card Bank of Georgia (MCCBG)
I was actually quite disappointed when I saw the new Home Depot Commercial application. Not only do they require a personal guarantee, they don't even ask for a business EIN.
However, some of the Citi/Associates gas cards not only don't require a personal guarantee, they don't even ask for a personal SSN.
I was thinking mostly of cards that could be easily obtained when I made my list. I want to start a business credit file with little $200 cards, even if they require a personal guarantee. Then I'll try to avoid personal guarantees when I apply for $50,000 lines of credit.
Hmm...thats interesting. So if we want more HD credit we have to pg it.
I don't blame you Rich, but I just wonder how it will work for you. I have to pg all our non-retail lines of credit.
My idea was to get something, anything, reported separately under an EIN rather than an SSN. That develops the credit history. I can incorporate later. I can turn it into a big business later.
I think it was the Home Depot (?) application that gave Citibank's (?) requirements to avoid a PG. They included incorporation and revenues of $2 million.
I found the eaisest to get without a PG is Staples. They'll start you with $750. They are underwritten by Citibank too. Office Depot is too, but they are harder to get.
The commercial Home Depot and Lowes are by GE Capital. On the app they want either 2 years history, or 10 employees, or $2 Million in sales.
Where can I find the Citi/Associates gas card?
It looks like the Shell Fleet card doesn't require a PG either.
What I meant by the Citi/Associates gas cards would be the gas cards that were issued by Associates and then taken over by Citibank when it acquired Associates. (Shell, Texaco, BP, Citgo)
The old Associates gas cards are still available in one place at www.theassociates.com
Some newer Citibank gas cards are available at www.conocophillips.com (Conoco, Phillips 66, 76)
The Citgo and 76 commercial applications haven't been available recently. Those are two I really want.
The BP business card has an application that seems unnecessarily intrusive to me.
The Shell and Texaco fleet card applications are very simple and straightforward, yet require no personal guarantee. I think they're ideal for those who want to establish business credit.
no biz guarantee... that I see.
However, that is not the smae thing as a no personal CR check!
any gas cards offer that? HD, Staples, Lowes, TMoble, lots of other places offer biz TLs without any PG or Personal CR check (no req. for SS#!) at all...
In the case of HD, that doesn't appear to be true. The new application requires a personal SSN and doesn't even allow for any other identifier.
(This would be the paper application that's available at the stores.)
Big.....citi bought HD accts. We just got our new revolving card.
Thanks for the update. Citi is buying everything.
I called HD to see about getting an increase on our biz line and .....good old citi....."well you haven't had the card six months, so if we request one now and then want one at the six month mark, they won't do it because you just requested one now...." (nasal whine.)
LOWE's on the other hand has been a peach to work with all the way around....their commercial prox AND revolving have already increased.
So Rich, there's a lot of info above....are you saying all the ones you mention do not require a pg? I don't even know why I'm asking, we don't NEED a $200 card, we wouldn't revolve, so why bother. I am always curious I guess.
according to my cards,
HD is now Citi
Lowes is GE capital
As far as I can tell. the only ones I mentioned that don't require a personal guarantee are Shell and Texaco. Of course, I haven't seen the new Citgo or 76 commercial applications yet.
The point about $200 cards was that I doubt whether a personal guarantee of such small amounts would ever cause a problem for me. Except for the inquiries on personal reports, which I can't really afford...
And I'm sorry I forgot, the other point about $200 cards is that establishing tradelines, and therewith a business credit identity, can be done with small accounts. I'm sure you're past that point, but I need to start from the ground up...