Key bank

[m55]

2nd biz since jan 2009. key approvel $4400 had t0 PG and had chapter 7 Bk final 9/2009 THAY MUST OF NOT RAN personal. beats the hell out of me.

[greywolf]

2nd biz since jan 2009. key approvel $4400 had t0 PG and had chapter 7 Bk final 9/2009 THAY MUST OF NOT RAN personal. beats the hell out of me.

Congrats!

[m55]

Thanks

[800FICO1]

Welcome to the Key Bank family...I'm sure you'll love this card. I've had mine for a two years and every three month I call and ask for an increase and they haven't denied me yet. Some of my increases weren't that much but at least they didn't deny me. Wish more business card were like them. My credit limit is now at $27,500 started at $8,500

Edited November 23, 2009 by 800FICO1

[m55]

Thay pull your personal each time

[greywolf]

Thay pull your personal each time

I don't have any experience requesting CLIs with Key, but I would assume you can just ask them to try the CLI without a hard pull. If they can approve an application with out a pull, they can probably give you a CLI without one too.

 

As always, keep anything you do not want them to see on ice

Edited November 23, 2009 by greywolf

[800FICO1]

Thay pull your personal each time

 

 

They never pulled my personal credit they stated my business credit was strong enough this was two years ago. You didn't have to have a PG. Now you do. I even had to put one on file they contacted me and said that if I wanted the account to remain open I would have to put a PG on file so I did this was about three month's ago. For CLI's they have never pulled my personal credit to issue an increase on this business card I have never seen a hard inquiry I do see the soft pulls that they do for AR's so they do keep an eye out on things every six months or so.

 

I didn't care I have excellent credit and would never default.

[molly73]

Welcome to the Key Bank family...I'm sure you'll love this card. I've had mine for a two years and every three month I call and ask for an increase and they haven't denied me yet. Some of my increases weren't that much but at least they didn't deny me. Wish more business card were like them. My credit limit is now at $27,500 started at $8,500

 

 

did you have to supply them with any financials?

i started at i think 4500....now at 6800....said we would have to supply financials if we wanted more.....have had them for just over a year.....no pg

[800FICO1]

Welcome to the Key Bank family...I'm sure you'll love this card. I've had mine for a two years and every three month I call and ask for an increase and they haven't denied me yet. Some of my increases weren't that much but at least they didn't deny me. Wish more business card were like them. My credit limit is now at $27,500 started at $8,500

 

 

did you have to supply them with any financials?

i started at i think 4500....now at 6800....said we would have to supply financials if we wanted more.....have had them for just over a year.....no pg

 

Yes I sent them our commercial credit union statement and they stated I wouldn't be asked for information again as long is the account remained in good standing. They didn't ask for the credit union statement I just sent it to them anyway but they did inquire about it. They ask if one was available if they needed to look at it, I stated yes and ask if they wanted to see it and they said no and I sent it anyway.

Edited November 28, 2009 by 800FICO1

[molly73]

800FICO1 -

sorry if this is a stupid question....but did u basically send them a copy of your biz bank account?

how many months did you send them?

did you have to show the amount of deposits coming in...not who you were paying or anything like that?

 

they asked for financials from me....so that got me thinking that they wanted to see P/L...all that accounting stuff....more then just a banking statement

we have been inc i think since sept 08...so i consider us lucky to get this card

Edited November 28, 2009 by molly73

[800FICO1]

800FICO1 -

sorry if this is a stupid question....but did u basically send them a copy of your biz bank account?

how many months did you send them?

did you have to show the amount of deposits coming in...not who you were paying or anything like that?

 

they asked for financials from me....so that got me thinking that they wanted to see P/L...all that accounting stuff....more then just a banking statement

we have been inc i think since sept 08...so i consider us lucky to get this card

 

First of all molly no question is a stupid question, you are looking for an answer to something you aren't familiar with. I just sent them my most recent month's credit union statement No Profit and Loss sheets it was about three pages of my balance, average balance in general, and all debits and transactions. Most banks and Credit Unions will accept this as your financial biz statement because it is. Some may want a more detailed picture but for the most part this will due. They can tell allot from just your statement. How long the account has been opened, if it is in good standing, and average balance to make sure you aren't just a fly by night, also all of your transaction for that month AKA who you do business with. Banks and Credit Unions love all the information they can get.

 

A regular financial statement won't be detailed showing who you do business with, I think that is why Citi and others didn't have a problem accepting the credit union statement as verification of my financials. Plus if they need to know anything else they can just call the credit union and they can get whatever information they need from them based on you applying for the card, you gave them the right to access any and all information on your business when you applied. I hope this helps.

Edited November 29, 2009 by 800FICO1

[molly73]

thanks!!!

 

see....we bank with Chase....all we have is our statements that show that amount of deposits in for that month.......and the amount spent and some other info.

our Chase statements also shows all the transactions for the month.

now...we just rented a place....they wanted statements for the last 3 months since we do not have pay stubs.....i just went online and saved our statements, then whited out everything except the amount of deposits that we had coming in....they did not need to know what our balance was, etc.

do you think that would work for Key? We have been with them for a year....our balance is always up there but we have never been late and always paid on time (via phone - what a pain)

so with that being said....you think i could just submit our monthly deposits (the statement we get from our bank) and that might be enough?

thanks so much for the help!

[ConcordUser]

thanks!!!

 

see....we bank with Chase....all we have is our statements that show that amount of deposits in for that month.......and the amount spent and some other info.

our Chase statements also shows all the transactions for the month.

now...we just rented a place....they wanted statements for the last 3 months since we do not have pay stubs.....i just went online and saved our statements, then whited out everything except the amount of deposits that we had coming in....they did not need to know what our balance was, etc.

do you think that would work for Key? We have been with them for a year....our balance is always up there but we have never been late and always paid on time (via phone - what a pain)

so with that being said....you think i could just submit our monthly deposits (the statement we get from our bank) and that might be enough?

thanks so much for the help!

You can ask Chase to give a letter which shows your deposits. I got one like that from BOA few months ago. Check with Chase and see if they would give you one.

[molly73]

thanks concord......so basically ask my banker if he would create a letter listing all our monthly deposits for the last year?

[800FICO1]

thanks!!!

 

see....we bank with Chase....all we have is our statements that show that amount of deposits in for that month.......and the amount spent and some other info.

our Chase statements also shows all the transactions for the month.

now...we just rented a place....they wanted statements for the last 3 months since we do not have pay stubs.....i just went online and saved our statements, then whited out everything except the amount of deposits that we had coming in....they did not need to know what our balance was, etc.

do you think that would work for Key? We have been with them for a year....our balance is always up there but we have never been late and always paid on time (via phone - what a pain)

so with that being said....you think i could just submit our monthly deposits (the statement we get from our bank) and that might be enough?

thanks so much for the help!

 

I wouldn't advise whiting out anything....they may think you are trying to hide something. Just be straight forward and show them everything and they should not have a problem. As I said before they only inquired about my financial statement and I sent them my credit union statement unedited anyway for their review. So I would say you shouldn't have a problem but don't edit and white out things it makes you seem shady. No offense

[10bballer]

2nd biz since jan 2009. key approvel $4400 had t0 PG and had chapter 7 Bk final 9/2009 THAY MUST OF NOT RAN personal. beats the hell out of me.

[10bballer]

Hi if you dont mind.. mind i have a questions, is your businiess a 1 old .. with a paydex.. just want to see what i will need. to be able to quafily for there card..

 

 

thanks

[greywolf]

What do your trade lines look like? If you have some higher TLs, you should be approved.

[Tommy The Cat]

Welcome to the Key Bank family...I'm sure you'll love this card. I've had mine for a two years and every three month I call and ask for an increase and they haven't denied me yet. Some of my increases weren't that much but at least they didn't deny me. Wish more business card were like them. My credit limit is now at $27,500 started at $8,500

Congrats, this continues to surprise me, Key Bank has gazillions of dollars tied up in underwater commercial and residential real estate development loans in (SW) Florida, several of their loan holders are in bankruptcy or will be soon.

[molly73]

I wouldn't advise whiting out anything....they may think you are trying to hide something. Just be straight forward and show them everything and they should not have a problem. As I said before they only inquired about my financial statement and I sent them my credit union statement unedited anyway for their review. So I would say you shouldn't have a problem but don't edit and white out things it makes you seem shady. No offense

 

well i was just not showing them everything i purchased...and they were totally cool with this....i even joked with the company we are renting from saying that i don't want them to see how many times i visit the porn shop...and they were fine....they just wanted to see deposits coming in.....this has happened twice....both companies just wanted to see the $$ amount of what was being deposited into our accounts on a monthly basis...they said they did not care about anything else.

 

with that being said...should i call key and ask them again...see what they want for a credit line increase?

if they ask for a P/L....how do i respond to that?

all we have are our statements

thanks

[greywolf]

Unless a p/l statement is audited it is worthless to a bank, checking statements carry much more weight.

 

All that matters, for the most part are the deposits, and the average balance.

[molly73]

thanks grey.....mine shows the deposits....then the ending balance for that month.....but we move money from that account to other accounts.....so the ending monthly balance looks low...how should we handle that part?

thanks!

[800FICO1]

Unless a p/l statement is audited it is worthless to a bank, checking statements carry much more weight.

 

All that matters, for the most part are the deposits, and the average balance.

 

+1 I second that, Molly that's why banking statements carry much more weight then a profit & loss sheet because if it's unaudited it basically your word that everything on the sheet is accurate. A banking statement isn't coming from you it's issued by the financial institution you bank with and carries ten times more weight. I'm sure if someone wanted too they could fake some banking statements but if they verify it that person could be in serious hot water. Just call them and ask them if it's ok to forward your statements I'm sure you will be fine.

 

Good luck

[greywolf]

Unless a p/l statement is audited it is worthless to a bank, checking statements carry much more weight.

 

All that matters, for the most part are the deposits, and the average balance.

 

+1 I second that, Molly that's why banking statements carry much more weight then a profit & loss sheet because if it's unaudited it basically your word that everything on the sheet is accurate. A banking statement isn't coming from you it's issued by the financial institution you bank with and carries ten times more weight. I'm sure if someone wanted too they could fake some banking statements but if they verify it that person could be in serious hot water. Just call them and ask them if it's ok to forward your statements I'm sure you will be fine.

 

Good luck

A p/l statement is pretty much you saying how much you made. Sure, I made a billion dollars last year

 

A bank statement will show your deposits, which will give the bank a rough estimate of your true sales. One month's deposits x12 should be your yearly sales (minus some exceptions like sweep accounts).

[BRBiz]

I just received my Key Bank cards today only a $2200 limit and dont see any pulls on personal credit soft or hard, its ok its a start.

 

Inc. 2/2009

DNB: 80 6 trades

Eperian:31 2 trades

Equifax:?

 

Net 30:

Quill

Reliable

Grainger

Lowes Commercial $1200

Sherwin Williams

BP Card $1200

Citgo $1200

Verizon 6 lines

ATT 30 lines

Sprint 30 Lines

Sunoco $4500

 

Revolving:

Northern Tool $10000

Key Bank $2200

Soon to be Costco!