Monday, December 12, 2011

What are the chances of me getting a business credit card?

Hi, I am about to start a small business and was wondering if I would be able to get a business credit card. Would a bank approve a credit card for a small business that does not have any credit history and if so what would the limit on the card be? My personal credit score is 720 and my business partners is around 690 if that makes a difference. Thanks|||Not in the beginning. Everyone uses their personal card to get started. After 1 year, you will receive at least one letter per week begging you to accept one of their business cards.|||Only if you have a really sound and viable business plan. But even then I still doubt it due to the state of the economy. Credit is VERY tight these days. I actually just had my credit limit on my personal card reduced by $3,400 even though I have never been late on a payment nor was I close to being maxed out on my credit card. Now, thanks to that, it looks like I AM close to being maxed out, which is probably going to lower my credit score.

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