Edited by disnugaswagg, 07 March 2012 - 05:09 PM.
Shell Biz Card Approval!!!
Started by
disnugaswagg
, Mar 07 2012 04:51 PM
18 replies to this topic
#1
Posted 07 March 2012 - 04:51 PM
I applied for the Pepboys card and WEX card and was approved for PB$1,500 and WEX$5,000. A few days later, I received a letter in the mail stating that they could not finalize my approval because I did not meet their standards. So today, I decided to apply for the Shell gas card and was approved for $1,500 and it is a revolving credit card. Currently, I do not have a paydex score but do have one trade reporting on DnB and one on EX.
#2
Posted 07 March 2012 - 06:35 PM
THAT'S AWESOME, GREAT JOB ON THE APPROVAL.
How did you apply?
Did you fill out the joint liability application section?
How did you apply?
Did you fill out the joint liability application section?
#3
Posted 08 March 2012 - 07:23 AM
Did you PG this card? Congrats!!
#4
Posted 08 March 2012 - 10:45 AM
Remember to chase out the CITI family after getting that Shell gas card. Only really get cards for stations that are in your region. There are no ARCOs or Texacos anywhere near my state, so I don't bother wasting my time on them. Don't forget Staples and Office Depot.
#5
Posted 08 March 2012 - 03:46 PM
I was really shocked as well when the agent said I was approved for the credit card. I do have the shell personal card and was sent an email about the fleet card. So, I decided to apply. I did the app via live agent. Also, they did require me to PG, but I am cool with that.
#6
Posted 09 March 2012 - 12:04 PM
Did they actually run your personal as a hard or soft inquiry? If so which report did they pull?
#7
Posted 09 March 2012 - 01:19 PM
Did they actually run your personal as a hard or soft inquiry? If so which report did they pull?
It was a hard and they pulled DnB, EX personal, and business. Also, yesterday, I decided to add one more card to the equation and I went with Capital One Spark card. They pulled all three and I was approved for 4,200.
I know the Spark card reports to personal and business, but this is a start-up card that will be used very little. Ive had my AMEX Gold Biz for about a year and it really isnt helping my company's credit building process because it does not report. So, hopefully this card will lead to bigger and better offers.
Edited by disnugaswagg, 09 March 2012 - 01:48 PM.
#8
Posted 10 March 2012 - 05:21 AM
Did they actually run your personal as a hard or soft inquiry? If so which report did they pull?
It was a hard and they pulled DnB, EX personal, and business. Also, yesterday, I decided to add one more card to the equation and I went with Capital One Spark card. They pulled all three and I was approved for 4,200.
I know the Spark card reports to personal and business, but this is a start-up card that will be used very little. Ive had my AMEX Gold Biz for about a year and it really isnt helping my company's credit building process because it does not report. So, hopefully this card will lead to bigger and better offers.
Congrats on the approval!
How does your credit history look like and do you know your fico scores?
#9
Posted 10 March 2012 - 09:28 AM
Did they actually run your personal as a hard or soft inquiry? If so which report did they pull?
It was a hard and they pulled DnB, EX personal, and business. Also, yesterday, I decided to add one more card to the equation and I went with Capital One Spark card. They pulled all three and I was approved for 4,200.
I know the Spark card reports to personal and business, but this is a start-up card that will be used very little. Ive had my AMEX Gold Biz for about a year and it really isnt helping my company's credit building process because it does not report. So, hopefully this card will lead to bigger and better offers.
Congrats on the approval!
Thanks!!! My personal credit has no baddies at all. FICOs are: EX 689, EQ 696, and TU 701. Scores just took a hit for a few major purchases. But should jump back to the average 730s once they are PIF within the next few days. DnB has no paydex and one trade reporting, but lending guidelines are rated at 1, low risk ($2,500-10,000). EX business is rated at 56 and EQ rated at med-low risks.
#10
Posted 10 March 2012 - 10:33 AM
Did they actually run your personal as a hard or soft inquiry? If so which report did they pull?
It was a hard and they pulled DnB, EX personal, and business. Also, yesterday, I decided to add one more card to the equation and I went with Capital One Spark card. They pulled all three and I was approved for 4,200.
I know the Spark card reports to personal and business, but this is a start-up card that will be used very little. Ive had my AMEX Gold Biz for about a year and it really isnt helping my company's credit building process because it does not report. So, hopefully this card will lead to bigger and better offers.
Congrats on the approval!
Thanks!!! My personal credit has no baddies at all. FICOs are: EX 689, EQ 696, and TU 701. Scores just took a hit for a few major purchases. But should jump back to the average 730s once they are PIF within the next few days. DnB has no paydex and one trade reporting, but lending guidelines are rated at 1, low risk ($2,500-10,000). EX business is rated at 56 and EQ rated at med-low risks.
Thanks for the quick reply and that's awesome
Is your business an LLC or Corp or just sole prop?
#11
Posted 10 March 2012 - 11:09 AM
It is a LLC as of 1/2011. In July, I was approved for the AMEX Biz Gold, but as you and I know AMEX does not report unless you can or defaults on their cards. So, thats why my goals were aimed at getting a revolving line of credit for my business that reported. Where are you at with your business goals?
#12
Posted 10 March 2012 - 11:16 AM
It is a LLC as of 1/2011. In July, I was approved for the AMEX Biz Gold, but as you and I know AMEX does not report unless you can or defaults on their cards. So, thats why my goals were aimed at getting a revolving line of credit for my business that reported. Where are you at with your business goals?
I am currently working on the LLC process for a new company. Going to incorporate outside my state for the privacy and benefits
I used to have a sole prop a few years ago but it didn't work and didn't apply for any business credit under the sole prop.
#13
Posted 10 March 2012 - 11:30 AM
It is a LLC as of 1/2011. In July, I was approved for the AMEX Biz Gold, but as you and I know AMEX does not report unless you can or defaults on their cards. So, thats why my goals were aimed at getting a revolving line of credit for my business that reported. Where are you at with your business goals?
I am currently working on the LLC process for a new company. Going to incorporate outside my state for the privacy and benefits
I used to have a sole prop a few years ago but it didn't work and didn't apply for any business credit under the sole prop.
I was going to take on another business out of state, but this one has really took a lot of work and now I am finally starting to see some good things. If you need some guidance along the way just send me a PM. From reading information here and also hands on work, I have came across a lot of information. Most was through trial and error. One thing about LLC that I want to advise you is that on many applications that I have ran across you automatically have to PG, but for corps you do not. I am not sure why, but just thought I would share that with you.
#14
Posted 11 March 2012 - 06:25 AM
Can you please advise as to the requirements to get the shell gas card. I have a paydex of 71 with several trades reporting and 1 reporting on ex. but I do have issues with my personal credit at this time. I am currently going thru Lexington Law to get my credit repaired. I hope they are a good way to go. This has been a really hard thing to do when you don't know anything about it or really where to start. I have a business but not yet inc. but I am working on that. I recently applied for the wex card and was turned down. i haven't gotten my letter yet but waiting to see why. I did not give them my ss# only my ein # related to my business so i don't know why i was turned down. Maybe someone can help me out with this whole credit THING.::::::: Thanks
#15
Posted 11 March 2012 - 01:44 PM
First thing Repoman,
Lexington Law is not the thing to do. They charge all that money and the things that you need done can be done right here. If you are not sure how to tackle things, post your questions and a the mods, owners, newbies, and season Cbers will chime in. I personally do not like the fact that lexington law has been placed on your credit file, so automatically, creditors will notice that you are having credit problems. Not to mention many, CBers has said that their approach results in very little.
As far as the shell card or any card that will need PG, you would have to have some type of decent credit. If you know that you are trying to take personal credit problems it would be wise not to apply for those type of accounts. You are double hurting yourself in two ways. For instance, the inquiry is being added to your personal credit report and will not result in a TL and a possible score drop.
So, Repoman, why havent you gotten your incorporation yet? It seems that you are so far ahead of the game. Incorporating your company would help it more than hurt it. I have been in business for 3 years, but when I finally incorp'ed my company, I started seeing more offers. I went with LLC, because the paperwork in my state was minimal and if I decided to convert to a Corp, it would be easily done.
Finally, as far as the shell gas card, you would need a decent personal credit score (FICO , 660 & UP) hands down. Even though, you would think that it should not matter because it is for business use, its the total opposite. Many creditors feel that if you cannot maintain your personal credit, then you would not not be able to handle biz accounts. I do understand their point because many biz accounts offer higher credit limits to help maintain the biz finances. It seems that as far as the amount of time you have been opened you would meet that requirement (which should be atleast 3 years). I think that because your are not incorporated it would appear as you being a higher risk. Also, they do call the biz number listed with 411.
I hope that I have not rained on your parade, but I really do think it would be wise for you to stop apping and aim for building your personal credit. I honestly, honestly think that Lexington Law is a waste of your time. Finally, I think it would be wise for you to go ahead now and get incorporated, while you straighten out your personal credit. I became a member of CB May of 2011 and my scores were in the 550-570 range, within 5 months my FICOs were avging 720-740. So, Repoman it can be done. It wont be easily, but if you take time and dedicate it posting and following the steps needed, you will get the personal credit you need. Again, we are all here to help you.
Lexington Law is not the thing to do. They charge all that money and the things that you need done can be done right here. If you are not sure how to tackle things, post your questions and a the mods, owners, newbies, and season Cbers will chime in. I personally do not like the fact that lexington law has been placed on your credit file, so automatically, creditors will notice that you are having credit problems. Not to mention many, CBers has said that their approach results in very little.
As far as the shell card or any card that will need PG, you would have to have some type of decent credit. If you know that you are trying to take personal credit problems it would be wise not to apply for those type of accounts. You are double hurting yourself in two ways. For instance, the inquiry is being added to your personal credit report and will not result in a TL and a possible score drop.
So, Repoman, why havent you gotten your incorporation yet? It seems that you are so far ahead of the game. Incorporating your company would help it more than hurt it. I have been in business for 3 years, but when I finally incorp'ed my company, I started seeing more offers. I went with LLC, because the paperwork in my state was minimal and if I decided to convert to a Corp, it would be easily done.
Finally, as far as the shell gas card, you would need a decent personal credit score (FICO , 660 & UP) hands down. Even though, you would think that it should not matter because it is for business use, its the total opposite. Many creditors feel that if you cannot maintain your personal credit, then you would not not be able to handle biz accounts. I do understand their point because many biz accounts offer higher credit limits to help maintain the biz finances. It seems that as far as the amount of time you have been opened you would meet that requirement (which should be atleast 3 years). I think that because your are not incorporated it would appear as you being a higher risk. Also, they do call the biz number listed with 411.
I hope that I have not rained on your parade, but I really do think it would be wise for you to stop apping and aim for building your personal credit. I honestly, honestly think that Lexington Law is a waste of your time. Finally, I think it would be wise for you to go ahead now and get incorporated, while you straighten out your personal credit. I became a member of CB May of 2011 and my scores were in the 550-570 range, within 5 months my FICOs were avging 720-740. So, Repoman it can be done. It wont be easily, but if you take time and dedicate it posting and following the steps needed, you will get the personal credit you need. Again, we are all here to help you.
#16
Posted 11 March 2012 - 06:01 PM
I truly appreciate your honesty with my situation. If Lexington law is not the answer then WHO and WHERE do i turn to for the correct guidance to get this done. I truly want to get my credit straightened out. Most of my stuff is older stuff but still need some answers on how to get rid of it off of my reports. I am not sure on how to do this myself but would definately love to save the money that i am paying them so that i may put this towards inc. my business. I actually have two business's that need to be inc. but I am getting mixed directions on how to properly do this. One person says to inc. one and then have that corp own the other business. I have always just been a hard worker and tried to take care of my family and just recently got started on getting my life in some kind of order to help me get rid of some of the stress that i have put myself and family under. Every thing that i have done for my business and my family in the last 5 years has all been cash. I NEED HELP AND REALLY HAVE ENJOYED THIS SITE BUT I NEED HELP IN A REALLY BAD WAY. I AM SO CONFUSED AND WOULD GREATLY APPRECIATE ANY HELP THAT ANYONE COULD OFFER ME AND DIRECTION FROM ANYONE THAT HAS GONE FROM BAD TO GOOD AS YOU HAVE. My scores are in the range that yours were when you said you started. I am willing to put the work in to get my goals of having some of the same approval experience's that alot of you have had and posted here in CB's boards. Again, Thank you for listening to me and if you know where i may go for the help then please advise me. THANKS, FRANKIE
#17
Posted 11 March 2012 - 07:35 PM
First, I would go ahead and get the companies incorporated because it will take some time to get your personal credit together. So, why you are working on your personal credit, your companies will be gaining age.
As far as the personal credit, make sure you post under personal credit all the problems that you are facing. I mean everything.... let them know everything that is reporting negatively on your reports. Ask where you should begin.... they will tell you exactly what needs to be read and follow those steps. If you need guidance or have questions, post then as you are doing your research or whatever. Many of the experts will chime in.
Again the process will not happen over night, but if you put yourself out there, many will come to your rescue.
As far as the personal credit, make sure you post under personal credit all the problems that you are facing. I mean everything.... let them know everything that is reporting negatively on your reports. Ask where you should begin.... they will tell you exactly what needs to be read and follow those steps. If you need guidance or have questions, post then as you are doing your research or whatever. Many of the experts will chime in.
Again the process will not happen over night, but if you put yourself out there, many will come to your rescue.
#18
Posted 11 March 2012 - 08:31 PM
Thanks alot
#19
Posted 12 March 2012 - 02:51 AM
I agree with disnugaswagg 
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