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Applying for Business Credit Cards [Consolidated]

Applying for Business Credit Cards [Consolidated]

Old Mar 16, 12, 8:36 am
  #106  
Formerly known as iahsumr
 
Join Date: Jan 2011
Posts: 520
Congrats and welcome to the world of business cards!
Mommy Points is offline  
Old Mar 16, 12, 8:45 am
  #107  
 
Join Date: Jan 2012
Location: Florida
Posts: 238
grats
Bold is probably my next business card.
onefasteuro is offline  
Old Mar 16, 12, 8:48 am
  #108  
 
Join Date: Oct 2011
Posts: 5
I just did the same too!! Exact same thing happened to me...first business card. Now onto the $5000 spend!
absolut422 is offline  
Old Mar 16, 12, 8:51 am
  #109  
 
Join Date: Sep 2005
Location: Denver
Posts: 491
Hopefully you don't mind me asking this, but do you have an actual business with reportable revenue?

I was successful in getting the Citi AA biz card last year, but I've heard that it's harder to get a Chase biz card unless you have solid business with revenue. I earn a few grand a year doing random things outside my day job, but don't have an EIN or any business documentation, so I've been holding off on the Ink Bold.

If you prefer to PM, I'm fine with that.

Thanks.
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Old Mar 16, 12, 8:53 am
  #110  
Moderator: Credit Card Programs & Chase Ultimate Rewards, FlyerTalk Evangelist
 
Join Date: Aug 2002
Location: BOI or anywhere a good IPA is served!!
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Just a reminder- general credit card info/data/questions belong in the Credit Card Programs forum. Thanks!
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Old Mar 16, 12, 3:06 pm
  #111  
 
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Now you just have to open ten more businesses
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Old Mar 16, 12, 4:51 pm
  #112  
 
Join Date: Jan 2008
Location: ATL/LAX
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Originally Posted by Cohall View Post
Hopefully you don't mind me asking this, but do you have an actual business with reportable revenue?

I was successful in getting the Citi AA biz card last year, but I've heard that it's harder to get a Chase biz card unless you have solid business with revenue. I earn a few grand a year doing random things outside my day job, but don't have an EIN or any business documentation, so I've been holding off on the Ink Bold.

If you prefer to PM, I'm fine with that.

Thanks.
I've heard the opposite ... tougher with Citi than with Chase. I applied for the Citi AA Biz last year and couldn't get approved.
amolkold is offline  
Old Mar 16, 12, 4:58 pm
  #113  
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Join Date: Aug 2010
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Originally Posted by amolkold View Post
I've heard the opposite ... tougher with Citi than with Chase. I applied for the Citi AA Biz last year and couldn't get approved.
All CC issuers are rolling out internal controls over the next 10-14 months to weed out non-business users of "business" cards. Dodd Frank gives consumers significantly more protection and issuers have a duty to assure that business cards are for businesses so that consumers don't lose their new protections.

Red flags are: sole proprietorship without Sked C and use of SSN instead of EIN.
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Old Mar 16, 12, 5:45 pm
  #114  
 
Join Date: Nov 2006
Location: LAX
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[QUOTE=Cohall;18212136]Hopefully you don't mind me asking this, but do you have an actual business with reportable revenue?

yes i do. not much revenue but some
metoo is offline  
Old Mar 17, 12, 11:58 pm
  #115  
 
Join Date: Feb 2010
Location: DFW
Posts: 192
Best Mile earning Business Mastercard.

I am trying to figure out the best mile earning MASTERCARD, as most of our purchases are at SAMS and they don't take AMEX OR VISA and i can't think of any miles earning discover cards so my only option is Master card.
Any advise will be welcome.
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Old Mar 18, 12, 12:10 am
  #116  
In memoriam
 
Join Date: Jan 2006
Posts: 4,020
Why does it have to be a business card?

Business cards are dangerous to financial well being as they are not protected by the Fair Credit Billing Act.

But, I note that the new Chase Ink Bold I recently got is an MC. And comes with no first year fee and 50,000 bonus Ultimate Rewards points which convert 1 to 1 to UAL miles. ^
biggestbopper is offline  
Old Mar 18, 12, 4:55 am
  #117  
 
Join Date: Feb 2010
Location: DFW
Posts: 192
2 main reasons
1. It does'nt usually show as a utilization on your credit report.
2. If you like to keep your business expenses seperate from personal for the easier accounting at the end of the year.
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Old Mar 18, 12, 6:32 am
  #118  
 
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ink Bold. it is a MasterCard.
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Old Mar 18, 12, 6:38 am
  #119  
GGE
 
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Originally Posted by saatx View Post
I am trying to figure out the best mile earning MASTERCARD, as most of our purchases are at SAMS and they don't take AMEX OR VISA and i can't think of any miles earning discover cards so my only option is Master card.
Any advise will be welcome.
I rather like my Discover Escape card. When I got it a little over 2 years ago, I signed up for the offer that gives you 1000 bonus points every month you charge at least $1 on your card, for the first 25 months. Here I am a year later with 44K points - well, I did. I just redeemed $300 worth for my upcoming vacation, putting it towards rental cars, hotels, and baggage fees.

10,000 pts = $100 travel credits. You have to charge your purchase to your card, and once the charge posts, you can apply 10K points to cover $100 of it. My rental car pre-pay for next month posted last week at $144 and I immediately put 10,000 pts towards it, so I was actually charged $44 for the rental. I can't wait until my Starwood hotel fees post.. I know this sounds crazy, but let me explain - we booked two suites for 4 nights and it only cost a total of 12,800 SPG points plus $166 and $166 in taxes, fees, and cash (for their cash + points rate). Those will post to my card as two separate bills for $166, and I can apply 10K points towards each of them, so my rooms will end up costing me $66+66 = $132 for a total of 8 suite nights at a Sheraton Suites for spring break.

You just can't beat that!!


Anyway, this card obviously works for me, but I'm relatively easy to please... wait no I'm not. My husband would call me a liar for that one!! (you cannot transfer the points into other programs though.. but you DO get 2 pts/$1 on every purchase, all the time).


edit - here's a link to their current 25,000 bonus pts offer - https://www.discover.com/credit-card...SC_DET_TOP_TXT

Last edited by GGE; Mar 18, 12 at 6:45 am
GGE is offline  
Old Mar 18, 12, 8:48 am
  #120  
 
Join Date: Oct 2010
Location: GGG, DFW, IAH
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Originally Posted by saatx View Post
2 main reasons
1. It does'nt usually show as a utilization on your credit report.
2. If you like to keep your business expenses seperate from personal for the easier accounting at the end of the year.
Goal #2 is easily achieved through having a separate personal card.

Goal #1 only matters if your expected utilization of this new card is substantially higher than weighted utilization of all your existing cards. Remember that this business card will be excluded both from numerator and denominator of your personal credit report utilization not just from numerator.

If I were you, I would follow the advice to have a personal credit card for 2 reasons:
- already mentioned substantially better consumer protection
- having a high-turnover personal credit card is an excellent tool to leverage reconsideration negotiations ("your offer is superior to the card I currently put majority of my spend on and if you choose not to approve my new account you will be missing on all this profit ... ")

On a side note, though it creates a bit of a hassle but I sometimes buy large denomination giftcards at Walmart with whatever credit card I want and they pay them in a Sam's Club.
LongviewTX is offline  

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