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0% Interest Business Credit Card Stacking


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Hi everyone,

 

I am new to the forum. 

 

I'm a real estate investor who is looking to apply for several 0% interest business credit cards and then use those funds to pay contractors/materials, etc.

I am looking to get as much funding as possible and then transfer the balance over to another 0% interest card after the introductory period is up.

 

I would like to use credit card stacking to get the most credit card funding possible at 0% interest. I have done a lot of research and I am getting ready to apply. 

 

I had the naive thought that if I signed up for 8 different business credit cards all with different banks on the same day, the banks would not see all of my hard inquiries during the application process. I thought the hard inquiries take at least 1-2 weeks before they would show up on my credit report. So I figured the banks would not see all of my hard inquiries that I got that day.  BUT I spoke with someone who said that is not true. He said that the banks will see my hard inquiries instantly as soon as they happen. And if they see all of these hard inquiries the same day, they will decline my application. Does anyone have experience with this? Really looking for some helpful feedback and experience if possible.

 

Thank you guys I appreciate the help. I don't want to mess up on my '1st round' of funding.

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Thanks @MarvBear for clearing that up! 😀

 

I am wondering, how is it possible to do card stacking effectively and apply for 5-7 cards for the 1st round of funding?

 

One person told me that when card stacking, you don't want to hit the same bureau more than 2 times. 

But I see a lot of lenders sometimes pull 2 bureaus for 1 application. 

 

I checked the Creditpulls section of the website and searched on google as well to see which banks generally pull from which bureaus, but even then, it seems a bit random. Also, I notice that most of the larger lenders seem to pull Experian so it would be 'easy' to hit experian 2 times.

 

I am thinking maybe to try to get cards from lenders that pull from different bureaus to mix it up.

 

Any thoughts or feedback would be really appreciated. Thank you!

 

 

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I believe that one of the reasons some lenders tend to gravitate towards Experian, is simply for pricing reasons.  Since I been pulling credit, Experian has always been the cheapest pull, with Equifax being the most expensive.

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Thanks @MarvBear

 

I have a credit question I have been trying to figure out in regard to credit card stacking and keeping the 0% introductory rate as long as possible. My goal is to get the highest credit line possible and keep the 0% APR going for 24 months on the Chase Business card.

 

Let’s say you have the Ink Business Unlimited® credit card (0% APR for 12 months). After 12 months, I want to open a new card, the Ink Business Cash® credit card to keep the 0% APR rate for a new 12 months.


Lets say the Ink Business unlimited card has a $0 balance (paid off) with a credit line of $10k.

I want to get the highest credit line possible on the new card, the Ink Business Cash® credit card.

 

I am planning on transferring the $10k credit line from the Ink Business unlimited card to the Ink Business Cash® credit card no matter what.

What is the best strategy to get the highest credit line possible?


Do I want to request a credit limit increase on the first card, Ink Business Unlimited® credit card before applying for the 2nd chase business credit card and then transfer the credit limit over?

OR

Just apply for the new card and ask for a limit increase on the new card when I get approved? (then transfer the $10k credit line over)

 

OR

Do both? Get approved for the new card. Request a credit limit increase on the first card and a credit limit increase on the second card?  

 

Whats the best strategy to accomplish what I am trying to accomplish?

 

Thank you for your help and guidance.

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  • 3 weeks later...

Couple of things.  The 0% promo offer on Chase is for new purchases, not balance transfers.

I applied for a business card about 2 years ago and was approved.  Got the 0% offer for 12 months.

Maxed out the card within 2 months and paid it off on the last day of the 12 month 0% promo period.

When that reported as 0 to the business credit bureaus, I applied for a 2nd Chase business card with 0% or 12 months.  The credit line was $2k more than the first card.  Again, new purchases, not balance transfers are 0% on the 2nd card.

 

Currently, I only see 2 Chase business cards offering 0% for 12 months.  Bank of America offers 3 different business cards with 0% offers for 9 months.  It doesn't look like Citi is offering any business cards with 0% offers at this time.  I haven't looked at any other bank to see if they have 0% offers.

 

The best way to get high credit line approvals is to have higher credit lines with your other personal and business cards and have a very high credit score for both personal and business.  In today's economy, I don't think getting a high limit card is going to be as easy as when the economy was more robust, but as usual, you want to apply when you really don't need the credit line.  Because when you are financially stressed, that is when the banks say no.

 

I haven't applied for a credit line increase on the first card yet so I don't have any experience regarding Chase's criteria for business card line increases.  I have 3 Bank of America Business Cards.  Twice, I applied for line increases on the Bank of America Business card I use most and was approved both times.  

 

Bank of America is my main bank and when speaking to the underwriter at Bank of America, he asked very thorough questions as to why I wanted the increase, I told him business was increasing so my spending has increased, he could see the activity in my checking accounts to back up the increase in business and that was probably the most convincing factor.  Not sure what criteria Chase uses since I don't have other accounts with them.

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