Results to share about BESTBUY Business application and State Farm Bank Business Credit card

[NIK]

I applied for both and I was declined. I have been in business since 2001, but I became a Corp in Dec 2006.

 

I have 8 trade lines reporting in DNB with Paydex of 80.

 

My fico score on EQ=717, TU=700 and EX Faco is 732.

 

Bestbuy claims that the business as reported by DNB is only 3 years old and don’t qualify for there credit product.

 

State Farm pulled both TU and EQ. They state reason for denial as excessive credit inquiries in the last 6 months.

 

TU has a total of 2 inquiries and EQ has 3 in the last six month and 2 that fall of this December because there 2 years old.

 

Reconsideration on State farm APP was denied. I never question the reason again.

 

Information is to share with those that are looking to apply.

 

Thank

 

Nik TBI

[clintbeastwood]

doesnt make sense, people on here have received BB credit with companies that were less than 3 years old..

[greywolf]

You business will be a Corp for three years at the end of Jan. Re apply then. When I applied a few weeks ago, it was two min.

 

Also, make sure D&B has to correct start date, most of the time they have the date you first applied for credit, not your actual starting date.

Edited November 3, 2009 by greywolf

[idfly]

What is your credit high on your D&B if I may ask?

[NIK]

What is your credit high on your D&B if I may ask?

 

 

 

 

I do not mind sharing information that can be helpful to the forum. The highest credit that I have reporting is 12000. I have business credit card in the 35,000 limit but they do not report to D&B.

 

I have one of there better products that I obtain free for one year due to a severe errors and confusion with my files. Furthermore, I was harassed by a representative that I managed to record. As a courtesy I was given one of there better products at no charge for one year.

 

According to many posts that I have read by the board members buying D&B product is not always advantageous. My understanding is that I can add up to five accounts and submit financials to them if I like. I am still researching exactly the process that is required by reading other members post.

 

My understanding from reading some excellent notes on the CreditBoard is that business Credit Card accounts cannot be added.

Although, I have read some members have been successful adding Business credit card account.

 

Thanks

 

Nik TBI

[B_o_s6]

I was approved for a $1000 cl and was just about at a year showing on my dnb file!!!!!