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EvanDeasey

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  1. Hello, I do not mean to be vague, but I do not what to be too detailed about what I do or how I do it. In terms of credit I have one card that is with Capital one with 1k limit and I have a TD card with a 14.5k limit that could be raised if I wanted another hard pull on my report. Also to note, I have an unlimited personal amex card in my name, but I am not the primary card holder/responsible payer. It does show up on my Experian report though, but does not count me as an AMEX member in their system. What I do is each week I pay down my balanced to around 0-100 dollars so that I have free capital and not wait until the auto payment at the of each month. I noticed my free credit reports were being pulled before that date so I would have large balance 10k+ on TD and the 1K maxed on capital one. This gave me crazy high utilization percentages killing my CC score to around 720. Simply paying off each week brought me up to 770. For the business part I currently issue people virtual cards through a virtual card company connected to my bank. Those people buy me product with those cards. This builds no credit for me and has little to no rewards, but allows in total 14k spend per month. I generally have ~6k-10k per month through this and since it is works like a charge card it instantly pulls from my bank. In hind-site this was a stupid move on my part. I did understand how I could be denied a card that said it was for credit scores of 600-650 so I stupidly applied for another one and got shut down as well. I thought if you have decent cards already, had a good paying job and enough in your bank account it would a sure thing. I obviously I do not understand how this credit this work, hence why I am here. In summary, I have limits of 15.5k total between 2 cards and I spend around 11k per month which get paid off weekly instead of auto pay monthly.
  2. Hello All, About a little over a month ago I applied for the Amex Business Blue Cash Card as my ebay company has reached a point that acquiring more product via credit would benefit me. My business is currently as a sole proprietor and not an LLC. I applied to the card and was denied much to my surprise. Amex Business instantly lets you add up to 100 employee cards and I have around 20 people employees that would bring on for sourcing which is very important to my business. My Fico score was 723 at the time of the pull and I have since pulled it up to around 770 according to the free reports, so its probably around 750 for FICO. Below is the reason for denial and my plan to negate these problems, but I am still not sure what else I can do. Number record(s) about you obtained by LexisNexis in last 5 years. I have no idea what this is or why it negatively affects me. Big concern of what to do. Amex rep would not tell me anything (Actually hung up when I kept asking questions). Length of time accounts have been established. 4 years of account history for so I am going to wait another 3-6 months before applying. Too many recent bank card inquiries without corresponding new accounts opened. I was denied a citi and chase credit card on my personal credit about 2 months before which I cant do much about. I am stuck with applying for another new card which may hurt my average age. Too few credit card accounts on which, in our estimation, you have paid a majority of the balance in recent months. Current only 2 personal card current which are always paid off. Goes back to the point above of opening a new card. So overall my plan is to change to an LLC as I have heard it would make me more "Official" and open a corresponding bank account just for that business. Then I would open another personal credit card to negate the not enough cards issues. What else can I do to make it so next time I apply I have a better chance ? Does my current direction make sense?
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