FYI about Target

[Guest KristofsMom]

I was told today... before applying! They will NO longer accept Commercial applications without a PG! That is the new policy! I wanted to share this so CB'ers don't waste time

[clarke]

Was just looking at - http://targetcommercialinteriors.com - earlier in the week. Not sure if they take the Target card, I imagine they would. Would of been nice if no PG was needed.

[BRBiz]

They have always been super hard to get to begin with..

[ApacheD]

I was told today... before applying! They will NO longer accept Commercial applications without a PG! That is the new policy! I wanted to share this so CB'ers don't waste time

 

I think PG has always been required for Target. They provide their own credit, so I can see why they would want to limit their risk.

 

FWIW, I asked for our first ever CLI from Target Friday. Originally got $1000 when the account was opened in 2006, cut to $600 in 2008 due to the credit crunch and low usage. However, since they switched from the 10% off for a day to 5% off all the time and free shipping from the website, I use the hell out of the card. I asked for $1,500 but I should've asked for $5k since they ended up puling both Experian business and personal. I hate to waste two inq's for such a small line. It will definitely get used though.

 

Anyone know if I ask for another CLI in December are they likely to do two hard pulls again?

[BRBiz]

Of course they will do a hard pull again.. With business credit always ask for more then you need or want!

[GFT]

I applied last week, and called - they indicated wait until the following week for decision.

[GFT]

I called earlier this morning, my application was declined. They indicated I would receive a latter as to why the application was not approved. I'll post once I know.

[dconawa]

Hello,

 

If you are doing business as an LLC this is one reason for being declined. I applied for credit with them a while ago and they do not give credit lines to LLCs only Corporations. I know it sounds crazy but this is directly from Target Bank.

 

Good Luck

[GFT]

dconawa -- Interesting. I just called and spoke with an underwriter, she indicated my Experian for Business credit report did not meet Target standards.

 

I just pulled my Experian for Business credit report, my score is 79 (Low Risk), 0 days DBT, 9 Trades reporting, in file since 2008, Inc 2011, 180k sales, no dereog items.

 

Not sure what the issue is, guess I'll have to wait for the letter.

[BRBiz]

dconawa -- Interesting. I just called and spoke with an underwriter, she indicated my Experian for Business credit report did not meet Target standards.

 

I just pulled my Experian for Business credit report, my score is 79 (Low Risk), 0 days DBT, 9 Trades reporting, in file since 2008, Inc 2011, 180k sales, no dereog items.

 

Not sure what the issue is, guess I'll have to wait for the letter.

 

Haven't been in business long enough for them.. They like to see years and years in business and the sales may be to low also.

[GFT]

I've been in busines since 2001 and it is document, the sales reported by EX Business are 180k. Until the last few years, did everyone with either cash or personal credit.

[Guest KristofsMom]

Did you PG or cross that out?

[BRBiz]

I've been in busines since 2001 and it is document, the sales reported by EX Business are 180k. Until the last few years, did everyone with either cash or personal credit.

 

 

Yes but you just Incorporated last year.. Some will go just off that date.. Some creditors dont consider anything besides a corp or llc as a real business.

[alplouis]

It's all about your files people. Strong business credit files with high payment reference and no lates are essential to getting approved. No baddies on the personal as well. Make sure that you business credit files have all the correct or accurate company information.

[BRBiz]

Target requires even more then that.. They want you to come on down and kiss their feet!

[alplouis]

Target requires even more then that.. They want you to come on down and kiss their feet!

 

Unbelievable. I bet it's much easier to get a personal credit account with them than it is to get a small business account. Crazy!

[GFT]

I was required to PG the application. They indicated it was my business credit which did not meet their requirements.

[BRBiz]

Target requires even more then that.. They want you to come on down and kiss their feet!

 

Unbelievable. I bet it's much easier to get a personal credit account with them than it is to get a small business account. Crazy!

 

 

This is very true.. I know a few people with bad credit who got approved with them, very low limits but still approved.. Not sure why they would factor your business over your personal credit it's usually the other way around. Any one even know if they report?

[Holloty]

What are the minimum years in business allowed for them?

[BRBiz]

At least 5+ years.. and a very very thick file

[alplouis]

Yea. Target is one of the tougher business credit accounts to get. It's all about your file people.

[GFT]

I received my decline letter yesterday, more issues on my Personal EX bureau including AAOA, which is over 5 years.... EX Score 734.... They also did not like that some of my business accounts do not have CL over $1k (my initial accounts), as now my accounts are getting CLs approved 3k, 4k, and now 8k for a Citi AA World MasterCard.

[alplouis]

I received my decline letter yesterday, more issues on my Personal EX bureau including AAOA, which is over 5 years.... EX Score 734.... They also did not like that some of my business accounts do not have CL over $1k (my initial accounts), as now my accounts are getting CLs approved 3k, 4k, and now 8k for a Citi AA World MasterCard.

 

You mentioned issues with your personal experian. What issue specifically? The score is pretty good. Yea, your business credit file needs to be thick. High CL with high usage rate with low balances. This shows activity. Work those new accounts that you've recently gotten and request CL increases after a couple of months. You may want to re-apply in 6-12 months. Good luck

[GFT]

High Utilization on an account, and the AAOA (5+ years) were mentioned about my personal Experian.

[Holloty]

Wow do they also want your first born