Any Real Business Credit Cards out there?

[ansky0007]

Are there any real business credit cards left out there? I dont care about doing a PG but I want a card that will actually look at my business credit and not just my personal credit? I know Barclays has business cards but they only pull personal reports and dont even look at the business reports. Anyone that actaully pulls business reports to determine if you qualify?

[ConcordUser]

Key Bank Master Card and HomeDepot MasterCard used to do that. I know HDMC went away. I am not sure about Key Bank Business card since they have been taken over by elan. You can give them a call and see what they say. I got my card from Key with out my PG just based on the corporate credit.

[ansky0007]

Key Bank Master Card and HomeDepot MasterCard used to do that. I know HDMC went away. I am not sure about Key Bank Business card since they have been taken over by elan. You can give them a call and see what they say. I got my card from Key with out my PG just based on the corporate credit.

 

Yeah, I have a Key Bank card already but the limit is too low (Only $5000) and its too inconvienient to use since I charge $60k to $100k a month. I would have to make daily payments to use the card since I can easily spend $5k in a day. I tried to get a CLI from them but dealing with Elan is not like dealing with Citi Bank. They want financial statements, tax returns etc. and not worth my time.

 

I have a $15k Wright Express MC which I charge around $30k a month on (No PG) but I already maxed out the rewards for the year so there is also no benefit to keep using it until next year.

 

Amex would be perfect but I am blacklisted from a past personal BK. I tried Barclays and was denied because I had recently opened a priceline personal card $5500 (5 Months Ago) and they want it aged longer before they will issue 2 cards. They only base their decisions on personal and they dont even pull business credit like Citi Bank used to do.

[milesb]

They wont let you up your linit with that much activity. I would check. If you can charge 5k and pay it off daily they will surley up your limit...

 

 

Key Bank Master Card and HomeDepot MasterCard used to do that. I know HDMC went away. I am not sure about Key Bank Business card since they have been taken over by elan. You can give them a call and see what they say. I got my card from Key with out my PG just based on the corporate credit.

 

Yeah, I have a Key Bank card already but the limit is too low (Only $5000) and its too inconvienient to use since I charge $60k to $100k a month. I would have to make daily payments to use the card since I can easily spend $5k in a day. I tried to get a CLI from them but dealing with Elan is not like dealing with Citi Bank. They want financial statements, tax returns etc. and not worth my time.

 

I have a $15k Wright Express MC which I charge around $30k a month on (No PG) but I already maxed out the rewards for the year so there is also no benefit to keep using it until next year.

 

Amex would be perfect but I am blacklisted from a past personal BK. I tried Barclays and was denied because I had recently opened a priceline personal card $5500 (5 Months Ago) and they want it aged longer before they will issue 2 cards. They only base their decisions on personal and they dont even pull business credit like Citi Bank used to do.

[toopooor]

They want financial statements, tax returns etc. and not worth my time.

Why is it not worth providing financial statements to get a huge line?

[toopooor]

They wont let you up your linit with that much activity. I would check. If you can charge 5k and pay it off daily they will surley up your limit...

They may do AR on personal credit.

[milesb]

They'll call you. Just for the fact that they are not making money off you holding a balance. They will want you to make an impulse buy and have to make payments. Thats how they make their money....

 

They want financial statements, tax returns etc. and not worth my time.

Why is it not worth providing financial statements to get a huge line?

[milesb]

Credit card companies make money off of interest. If you are using 5000$ a day they will adjust your limit so that you can hold a balance. This way they can charge you interest on the money.

[toopooor]

Credit card companies make money off of interest. If you are using 5000$ a day they will adjust your limit so that you can hold a balance. This way they can charge you interest on the money.

And they may have AR'd his personal CR and decided 5K is all they want to risk with a 2 yr old BK... if he wants more, they want to see the financials.

[milesb]

Im not saing he would have to ask for an increase. If he can charge 60k a month then his file is strong enough for an increase. Let alone to run a card up 5k and pay it off in a short term. His personal credit wouldn't matter at this point. His business credit is proving to be strong enough. They will want to jack his credit u to a level where he carries a balance. Its the only way they make money. Intrest. Especially at a time like this. If he is moving that type of $ around. At least thats my experience. But you could be right...

 

Credit card companies make money off of interest. If you are using 5000$ a day they will adjust your limit so that you can hold a balance. This way they can charge you interest on the money.

And they may have AR'd his personal CR and decided 5K is all they want to risk with a 2 yr old BK... if he wants more, they want to see the financials.

[ansky0007]

They want financial statements, tax returns etc. and not worth my time.

Why is it not worth providing financial statements to get a huge line?

 

Problem is I write off everything and hide all my cash sales so my business looks like it makes very little money. I make over 100k but when it comes to my taxes I show around $50k to $60k profit, I pay around $8k in taxes a year and if I reported the full amount I would be paying close to $20k in taxes. Its not worth it to me to report everything correctly to get a credit card but then pay so much more in taxes to make a bank happy.

 

I have brought my Elan Key Bank Card to $5k and paid it off a few times and then asked for CLI but they wanted current financial statement and past 2 years of tax returns. If I was asking for $20K+ I could understand the request but I only asked to go from $5k to $10k and that is what they wanted. If it was still run by Citibank I would have been given the CLI because they would have looked at my 8+ $15k business lines with perfect history but Elan wants to focus on my personal credit which is still very good with Fico's in the low 700's with around 10% utilization but I have a past personal BK that they do not like.

Edited September 5, 2010 by ansky0007

[Guest sfsllc]

Not sure I would be giving that info in a public forum.

[milesb]

My angle was not to request but to force thier hand by paying the balance off daily,weekly,etc. In turn they would see they are making no money in interest and eventually give the increase without you requesting. It may take some time but trust me it will work. You are proving you can handle more credit by building a track record with them. It will work. Trust me. May take a sec but it will work.

 

They want financial statements, tax returns etc. and not worth my time.

Why is it not worth providing financial statements to get a huge line?

 

Problem is I write off everything and hide all my cash sales so my business looks like it makes very little money. I make over 100k but when it comes to my taxes I show around $50k to $60k profit, I pay around $8k in taxes a year and if I reported the full amount I would be paying close to $20k in taxes. Its not worth it to me to report everything correctly to get a credit card but then pay so much more in taxes to make a bank happy.

 

I have brought my Elan Key Bank Card to $5k and paid it off a few times and then asked for CLI but they wanted current financial statement and past 2 years of tax returns. If I was asking for $20K+ I could understand the request but I only asked to go from $5k to $10k and that is what they wanted. If it was still run by Citibank I would have been given the CLI because they would have looked at my 8+ $15k business lines with perfect history but Elan wants to focus on my personal credit which is still very good with Fico's in the low 700's with around 10% utilization but I have a past personal BK that they do not like.

[gallardospyder]

They want financial statements, tax returns etc. and not worth my time.

Why is it not worth providing financial statements to get a huge line?

 

Problem is I write off everything and hide all my cash sales so my business looks like it makes very little money. I make over 100k but when it comes to my taxes I show around $50k to $60k profit, I pay around $8k in taxes a year and if I reported the full amount I would be paying close to $20k in taxes. Its not worth it to me to report everything correctly to get a credit card but then pay so much more in taxes to make a bank happy.

 

I have brought my Elan Key Bank Card to $5k and paid it off a few times and then asked for CLI but they wanted current financial statement and past 2 years of tax returns. If I was asking for $20K+ I could understand the request but I only asked to go from $5k to $10k and that is what they wanted. If it was still run by Citibank I would have been given the CLI because they would have looked at my 8+ $15k business lines with perfect history but Elan wants to focus on my personal credit which is still very good with Fico's in the low 700's with around 10% utilization but I have a past personal BK that they do not like.

 

 

////

 

Man it would take so long to explain the entire process but here is what you need to do to get the kind of credit card you are looking for.

 

You need to start looking for Commercial Credit Cards

Tell the bank you are doing business with that you want to put your payroll, and business expenditures all underneath one card.

You probably need to set some money in the bank and let the funds age for 3 months as the bank

who's giving you this Commerical Credit Card is going to want to see a bank reference, a physical office space, employees would help even if they are "Fake" just for the day they come through to inspect. With the kind of money you are turning you also need to put together two years financial statement.

 

With a big enough bank reference and a decent Gross you can get Commerical Credit Card easy without a bank delving into your personal finances. All banks have Commerical Credit Cards. Hope this helps.