With trashed personal credit can someone get a business card

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4ktvs
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With trashed personal credit can someone get a business card

Postby 4ktvs » Thu Dec 10, 2015 12:44 am

If someone with a sub 500 Fico can sign up for a business credit card for there small business then what would be the best starter option?

I am asking for someone I know as my credit is fine and I don't need a business card.


Tubpbs
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Re: With trashed personal credit can someone get a business card

Postby Tubpbs » Thu Dec 10, 2015 6:03 am

4ktvs wrote:If someone with a sub 500 Fico can sign up for a business credit card for there small business then what would be the best starter option?

I am asking for someone I know as my credit is fine and I don't need a business card.


It is unlikely that individual will get approved for any useful business credit card. The vast majority of available applications are going to be based off of personal credit.
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Nixon
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Re: With trashed personal credit can someone get a business card

Postby Nixon » Thu Dec 10, 2015 7:42 am

Highly unlikely unless you already have established business credit.
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takeshi
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Re: With trashed personal credit can someone get a business card

Postby takeshi » Thu Dec 10, 2015 8:49 am

4ktvs wrote:If someone with a sub 500 Fico

No one has just one score. There are many scoring models used by creditors and for most models one has a score with each of the 3 major CRA's. Always consider both the model and CRA when referring to scores.

As stated above, most business cards are approved based on personal credit so unless the person's business has established credit in good shape this is unlikely. As alway, "best" is always highly subjective and there isn't enough info to even begin to recommend a card.

4ktvs
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Re: With trashed personal credit can someone get a business card

Postby 4ktvs » Thu Dec 10, 2015 8:27 pm

takeshi wrote:
4ktvs wrote:If someone with a sub 500 Fico

No one has just one score. There are many scoring models used by creditors and for most models one has a score with each of the 3 major CRA's. Always consider both the model and CRA when referring to scores.

As stated above, most business cards are approved based on personal credit so unless the person's business has established credit in good shape this is unlikely. As alway, "best" is always highly subjective and there isn't enough info to even begin to recommend a card.


The score was from a rejection letter for a personal credit card FICO model 4 from EX I think. A flat X% on everything or gas cash back card would be best.
But it sounds like it wouldn't work and if they all are going to pull personal credit then it's likely a bad idea to throw away a HP and ding the report.

I am not surprised but I did think it was worth asking.

ingramjuan
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Re: With trashed personal credit can someone get a business card

Postby ingramjuan » Thu Dec 10, 2015 11:02 pm

4ktvs wrote:If someone with a sub 500 Fico can sign up for a business credit card for there small business then what would be the best starter option?


If not mistaken a business credit card is pulled from your personal credit file.
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