Any bonus information would help as well (e.g. which card; how many other business/personal cards you already had; how old your business is; how good your credit score is; how much your total credit limit was when you applied, etc).
I see a lot of general information and shared experiences in other threads about how you can put pretty much anything and still get approved if everything else looks good on your application. E.g. many put $0-$1k for revenue and/or monthly spend; revenue/monthly spend numbers that add up to a "losing business" but were still approved because it's a new business; $0 for monthly spend and still got a decent credit limit.
Just trying to see what kind of numbers may help get approved for a larger credit limit, or if these numbers truly aren't a factor.
Sole Proprietor Business card holders- what did you put for your annual revenue/monthly spend, and how much credit were you approved for?
byu/Specialist7545 inCreditCards
Posted by Specialist7545
2 Comments
amex bbp yearly revenue of $2,500, approved for 10k limit
I don’t think the numbers are a huge factor without a track record as a real business since it’s all getting backstopped by one’s personal credit anyway. As a starting point Chase will give almost anyone a CIC with a $3k limit and a CIP with a $5k limit (the minimum on both AFAIK) and Amex starts people around $10k. Those are what I got, anyway (with a legit business story but with no track record and a $10k guess at revenue) and I have seen lots and lots of DPs with the same numbers.
I don’t understand BoA as well, but with no other current business banking with them (but significant personal deposits and Preferred Rewards status) they gave me a $22k limit.