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  #1  
Old 07-14-2008
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Default How exactly to get business credit or cc with high limits?

So I've always wondered what are the conditions and the process to get high limit credit cards?
What is the process or trick of getting business credit?

Most of us here buy our inventory on credit so high limit credit cards are a important part of our business.
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Old 07-15-2008
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HI:
You first need to PG your cards..
The LENDERS that will give the highest cls (in my exper):
a.) Amex
b.) Chase
c.) Bank of America

Each will let u have several cards.. Once u get 2 cards--What "I" do--
example:

Chase card#1--cl $5000, Chase card #2--cl $7500

>>I call Chase (they have what is called a BACKDOOR phone number)--Direct to the Credit Analyst..
>.I tell them-- I'd surely like to do a BT (bank transfer)--to one of my Chase cards--
BUT--I only have 7500 on 1 , and 5k on the other--Can u please xfer 4500 of the 5k onto the 7500 card--giving me $13,000 on the one, and leave the other opened with just $500?
--They say YES---OK, now i have $500 and $13,000..

Wait 30 days-- do a cli (credit line increase)--on the $500 card--9 times/10-- they'll take that up to MATCH the other card--I just did 2 of them last month..
>.NOW- you have $13,000 + say $11,500..OR $24,500
Wait--60 days do it again.. Simultaneously doing it with Amex and BOA..
>.After 90 days-- Youve got well over $50k in Unsecured credit..
**THIS providing you have good cr to begin with..OR--You have a strong D+B file or Experian Bus. credit file..
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Old 07-15-2008
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Good stuff EBHL!

Modee you like a millionaire aren't you?
Well anyways I like only the Amex delta sky miles because it doesn't want the full payment in one statement. Well anyways I have a few cards but none of them exceed the credit limit of $2,500. It's really hard to build up credit. My credit score is 650. The biggest card I have is from WAMU. I will try the method you told me EBHL and Modee if you got any tricks up your sleeve please tell.
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Modee, technically you could still charge a million dollars (monthly) on your amex even though you declined the black card. The problem comes with having to pay it of that month In any event, you are not the first person to turn down an invitation to the Black Card and those fees.
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Old 07-15-2008
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HI;
I think Modee is talking on another field that most of us "common folks", like me...
When i refer to Company Credit--I have it--but what I think is a Large credit Line,
maybe is peanuts to Modee..

My Corporate/Company lines are $35k on Bank of Amer, $80k on a CU, $150k on BOA Wealth Mgt acct,
So to me--theyre high-- Have i used them all-yes at one time, I had used most of them..
What do i owe today? Just what Ive charged this month.
Avail credit-- is over $558k..

BUT_ I just got a cld from Discover Card=from $15.6, down to $8800--why?
I can only think Economic times/ Crunch in Credit.

BUT__ I KNOW of some College kids (Men)- that are only in their 20's carrying around $50-$65k in plastic...go figure..
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EBHL Chase CLD me on two accounts. I am sure economy plays a factor + I usually stay under 10% credit debt but lately have risen to around 20 - now will not be surprised if more don't follow since my over all debt to available credit has decreased since chase cld'd me. Like a train wreck.
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TRG:
Try NFCU, PFCU, JFCU, USAA--They all give Very Generous lines.
I got an $80k Flagship from NFCU.
With the addition of a Good Line--they will automatically Decrease your util--thus Raising your Fico..

p.s. USAA has a Black Amex--looks like the Centurion Card--as a matter of fact-Ive been asked at Applebees and Macys --Oh, i see you have the Black Amex card??
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EBHL - You've got to be a member of credit boards! I've joined all but USAA. I didn't go with Flagship, I went with Nrewards. My understanding is you can only have one or the other, right?
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HI:
U get the TRIFECTA--
NAvy Nrewards. Flagship, and NAvcheck (line of credit)
And
Yes- been a member for 5 years+, also several other boards,,as credit is so very Important.. iTs nice to keep up with the latest trends/tips..
Ive written Several articles, as well as dealing with Collectors/Medical Collections..
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Whenever you apply for creidt, it dings your score. The credit bureau algorithym is set up in such a way that multiple dings in a certain day matter less than if they are spread out. Ideally, apply for a large amount of creit on the same day... this is known as an "App-O-Rama" for those in the know.
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When you apply for credit cards first of all they will take your PAN card number then your address proof then your income statement and on that basis your limit is decided. it totally depend on your income if your income is very high your can have a high limit credit card or vice-versa.
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Quote:
Originally Posted by ebayhateluv View Post
HI:
You first need to PG your cards..
The LENDERS that will give the highest cls (in my exper):
a.) Amex
b.) Chase
c.) Bank of America

Each will let u have several cards.. Once u get 2 cards--What "I" do--
example:

Chase card#1--cl $5000, Chase card #2--cl $7500

>>I call Chase (they have what is called a BACKDOOR phone number)--Direct to the Credit Analyst..
>.I tell them-- I'd surely like to do a BT (bank transfer)--to one of my Chase cards--
BUT--I only have 7500 on 1 , and 5k on the other--Can u please xfer 4500 of the 5k onto the 7500 card--giving me $13,000 on the one, and leave the other opened with just $500?
--They say YES---OK, now i have $500 and $13,000..

Wait 30 days-- do a cli (credit line increase)--on the $500 card--9 times/10-- they'll take that up to MATCH the other card--I just did 2 of them last month..
>.NOW- you have $13,000 + say $11,500..OR $24,500
Wait--60 days do it again.. Simultaneously doing it with Amex and BOA..
>.After 90 days-- Youve got well over $50k in Unsecured credit..
**THIS providing you have good cr to begin with..OR--You have a strong D+B file or Experian Bus. credit file..
Hello ebayhateluv,

I have nerver tried for a credit card or a business card. But the way you have explained here i think i should also go for it. I have heard of different credit cards.
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