Are small business credit cards hard to qualify for?
Oct 07, 2009
in
Business Line Of Credit
I am about to start my own LLC and need a small line of credit. Instead of trying to get a business loan, I was thinking of a small business credit card. I only need about 00.00. Does anyone know how long a company needs to be in business to qualify for a decent small business credit card?
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6 comments
P J on October 7, 2009 at 4:45 am
You will qualify for a business card only if your business is listed in the business credit ratings (I can not for the life of me think of it right now) similiar to your personal credit reports.
If you are "about to start", then you can forget about getting it in the LLC name, your own credit reports will be pulled and based on that information you may or may not get a credit card.
reena r on October 7, 2009 at 4:45 am
It wil depend upon bank
gg on October 7, 2009 at 4:45 am
First try the bank where you have your account, then try a small local bank who gives SBA loans…..
Then try bank of america.
Maxy on October 7, 2009 at 4:45 am
Dear friend,
Always remember that any business credit cards are more
difficult to get approved than personal credit cards, because
for personal credit cards, the bank is convinced with your
monthly income or even with your personal savings bank
account but for any business credit card, the bank needs to
see the performance of the company and at times the profit
and loss a/c or the balance sheet etc.
It is advisable, if in the event of business credit card taking
long to be approved, get a personal credit card and use it
for the same purpose.
If you need ladies items, you may visit this Yahoo hosted site
magnetic-jewelry-fashion.com and if you can sell these
products, you may contact them for wholesale prices.
Best wishes for your business.
mich on October 7, 2009 at 4:45 am
not very long from experience. A couple weeks but it depends on your personal situation. It’s a good idea though because the business card gives you points so…
tw158 on October 7, 2009 at 4:45 am
I have heard two years, but I got one after a year or so. Be prepared to enter personal information, too. That can help your chances of getting approved.
There are some good FAQs here:
http://www.e-wisdom.com/credit-cards/business-credit-cards.html