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Secured Business Credit Card List!!!!


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Please add to this list no matter how obscure the bank is and where.

 

Wells Fargo.. $500 deposit reports to Experian

 

BBVA Compass.. $500 deposit not sure yet on who they reports to yet, but getting info soon. Located in L.A. only. And it's walk in only as well

 

NFCU...$2000 Down. Reports to everyone but DnB and you don't have to walk into a branch.

 

Ok who can come up with a few more?

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Please add to this list no matter how obscure the bank is and where.

 

Wells Fargo.. $500 deposit reports to Experian

 

BBVA Compass.. $500 deposit not sure yet on who they reports to yet, but getting info soon. Located in L.A. only. And it's walk in only as well

 

NFCU...$2000 Down. Reports to everyone but DnB and you don't have to walk into a branch.

 

Ok who can come up with a few more?

Are these actual accounts showing up to each business credit report you mentioned? I thought Wells Fargo reported to Business Equifax? Im a NFCU member and didnt know they offered a business secured card.

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Correction they now longer offer that program, but FNBO does..

Which program? The secured business credit card or CD? Or is it both that NFCU stop offering?

 

Also who does FNBO report too?

 

Thanks

Edited by Sneekpeek
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  • 3 weeks later...

Found another.. not sure who they report to, but I got four on the list... And the company/bank is called Metro Credit Union. Someone help me out.. It's hard out there trying to find banks that offer secured business Credit cards... Lol

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  • 3 weeks later...
  • 2 weeks later...
  • 4 weeks later...

WELLS Fargo Secured Business Card Approval - NYC/NY State

 

I have a business with no business line of credit. I wanted to launch a business line of credit somewhere and opted for a Secured Card, rather than take a hard credit inqyiry hit and maybe not get one. My personal credit score rose from about 540 to 740 on Experian over the past 6 months by basically paying down my balances in full and paying the balences every month.

 

So my scores are rougly as follows: Equifax:710; Experian: 724; Transunion 7:36. I decided to apply for a secured credit card from Wells Fargo in the amount of $6,000.00(USD. The process took almost (1) month, and after going into the bank, providing a Cashier's check (I had no bank account at Wells Fargo and did not open one); a copy of my NYC business certificate, (2) Forms of ID, etc. I filled out the application.

 

First you should know this seemed to be a very lengthy process. They apparently sent my form and check through Branch inter-office mail so it takes 7-10 business days for them to get. Once that is done that is done that send you a notice stating that you need to send them a signed IRS Tax Form T4506 (Transcript Request( To allow them to get transcripts from the IRS to allegedlt "confirm" you own the business. Now my taxes from the previous years filing were around 43k, and I was on paior to make 100k this year, so I put the yearly earnings at around 100k on my form. That made me sweat a little.

It takes them about 5 business days to get the info back from the IRS and then, once they get the info their analysts look at it and make a determination. If they approve you it takes them another (5-7) business days to go through what they call "funding" which basically I take that they cash your chjecks and make sure they clkar.

 

After that they say it takes (5-7) business days to make and send your card. All told it took almost a month from start to finish. Don't look to get any real help from the Business Loan department's customer service (Thats the division that process the secured card), as they will all tell you things that are different and most of them tell you the wrong thing.

The "Business Rewards" are now a free feature as of August 2017, though so we will see how it works. I believe they did pull a credit report from Experian as it indicates on the credit pulls section here, but that it is based upon my percursory investigation.

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