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OilOperator

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    AZ
  1. OilOperator

    Truck loan for business

    Our business rep handled it. Was very simple as it's all in house (internal transfer). The fee they charged (at the time they waived the fee due to a promotion of some kind) is to cover the title & registration processing (personal to business). You can always speak to your business rep about this.
  2. OilOperator

    Truck loan for business

    The LOC with Ford is required once you exceed 250K in loans with them. The LOC has to be renewed on a yearly basis. For us the LOC was a simple process but we also already had 4 loans with them at the time of the LOC application. Once you have the LOC established purchasing is very easy. Each purchase they will set the interest rate but you don't have to apply each time.
  3. OilOperator

    Truck loan for business

    Hitachi Capital is a bank to look at. They do NON PG loans. We have some vehicles financed through them. If you go with NFCU you are better off to do the loan in your personal name and then pay the $200 transfer fee and convert the loan, title etc into the business. You will have to PG a NFCU loan either way. On the business side you they usually only loan 70-75% LTV and give slightly higher rate. On the personal side they loan 100-125% LTV and give better rates as it isn't a business loan. We have had business auto loans with NFCU in the past. This is info coming directly from our NFCU business banker. We did our loans this route. We mainly use Ford as we have an established LOC with them. They are the easiest to deal with IMO.
  4. OilOperator

    Visa, Mastercard no pg

    We have a Amex Corporate card without any PG. It has specific requirements though like years in business and business revenue. I believe the revenue has to exceed 8mil for the year. Most banks classify a business as 0-10mil per year and a corporate business as 10+mil a year. It's to help separate the small mom & pop corporation from larger corporation in terms of revenue. Usually revenue is a good indication of the size of a company but not always.
  5. OilOperator

    Elan/US Bank check personal credit? Rep says no...

    Put a security freeze on all (3) of your credit bureaus. Once the freeze is in place complete the application and provide you SSN. If they call you back saying they can't access your report due to a security freeze then you will know they tried to do a credit inquiry. Always a good idea to have a security freeze in place at all times.
  6. I would suggest putting a credit freeze on all your reports. This automatically blocks anyone (creditors, thieves, etc) from being able to access your credit report (authorized or not). You would have to manually lift the credit freeze on a specific bureau to have them pull your report. It's free to add the security freezes and depending on the state you live in it can be free or $5 each time you lift the freeze.
  7. OilOperator

    Any recommendations on heavy equipment financing?

    Cat & John Deere offer commercial accounts. We have a CAT account. We didn't PG the account.
  8. How many accounts you had before applying for the Amex? Net 30s etc? and how long in business? They had an account rep reach out to us about there product. We probably have 50+ accounts that report with highest reporting around 250K. Our credit profile is pretty thick with trade lines. Not small accounts but actual vendors we use on a monthly basis. Some of these accounts are 100K+ that report. Our business is 6yrs old Is it this card https://www.americanexpress.com/us/credit-cards/card-application/apply/business-gold-charge-card/45094-9-0?intlink=US-Acq-GCP-BusinessCategory-Apply-Gold#/personal-information ? Looks like they ask for person SS#? I'm assuming they didn't ask this when you applied over the phone? You are looking under business. Our card looks the same but says corporate. On that site they have personal, business & corporate. Our account is under corporate cards.
  9. It's a Corporate card. They either come in Gold or I believe a Green card. I carry a gold card and some of my employees have the green card. They all linked to same account just not sure what the difference between a gold & green card is.
  10. How many accounts you had before applying for the Amex? Net 30s etc? and how long in business? They had an account rep reach out to us about there product. We probably have 50+ accounts that report with highest reporting around 250K. Our credit profile is pretty thick with trade lines. Not small accounts but actual vendors we use on a monthly basis. Some of these accounts are 100K+ that report. Our business is 6yrs old
  11. We have an American Express Corporate card. There was no PG required. Only the business information was required. Its a charge card due in full each month. Not a traditional credit card where you can pay a minimum and carry a balance.
  12. OilOperator

    What Business CC

    They had a rep reach out to us to offer the product. We didn't inquire with them. We just filled out like a one page application. They had some of our business information already (not sure where they got it). We filled it out and they sent the cards. Info would have been basic stuff like company information (name, address, #, etc.) , EIN, annual revenue and if we needed additional cards for employees.
  13. OilOperator

    What Business CC

    We have an Amex Corporate card with no PG along with a BJ Mastercard no PG. Neither application requested any officers information. BJ-$35,000.00 Amex-Open Credit Line We have had both these products for almost 3 years
  14. OilOperator

    BJ's Perks World for Business Credit Card

    We just requested a 10K CLI this week and was granted it. Our card has an expiration date of 1/2018 so I assume the account will still be open and they will be sending us new cards shortly. Currently CL is 25K
  15. OilOperator

    Hitachi Capital

    Am I the Lone Wolf.....

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