Business Credid Cards

[mancunian]

Not sure if everyone here is interested but...

I would like to know - or bring up a discussion about - the different types of business cards: Advantages, application criteria, terms, inquiries and anything else.

I just searched dansdeals for a link to amex's status checker and it pulled up a post about business cards. In response to one of the comments Dan wrote:
"Because of Citi’s method of applying for credit, there are literally dozens of offers for the AAdvantage card out there..."
huh?

Stuff like that.

I recently applied for 2 business cards, Chase and Citi AA. Chase declined me for high utilization, but mentioned to me on the phone that i'm wasting my time b/c they want a 6-8 year credit history - Citi asked me to verify my address.
I really doubt Dan got his first bus. card just 1 year ago...

Hope this goes somewhere, if not its fine too...

[Avid Reader]

Chase got very fussy recently. I had about 40k with them and out of the blue they lowered my credit limits to 1k per card, and then a few weeks later they canceled all of them. They had many excuses which i don't buy. They actually offered to give me another card with 8k a few weeks before this happened. All my account were in good standing. I was doing some big spending on one card.

[mancunian]

Chase got very fussy recently. I had about 40k with them and out of the blue they lowered my credit limits to 1k per card, and then a few weeks later they canceled all of them. They had many excuses which i don't buy. They actually offered to give me another card with 8k a few weeks before this happened. All my account were in good standing. I was doing some big spending on one card.

Business or personal accounts or both? I'm scared... I just got that letter about the APR. I guess at least if they're raising the APR that means they're not cancelling it, or maybe it just means they're scared if they cancel it they wont get their $, or maybe "a few weeks later"...

Hope not.

How much of those cards did you use before the big spending? Is it that they dont like little spenders or big spenders w/ credit limit decreases - i've never figured it out... maybe its when you mix the two?

[Avid Reader]

Business or personal accounts or both? I'm scared... I just got that letter about the APR. I guess at least if they're raising the APR that means they're not cancelling it, or maybe it just means they're scared if they cancel it they wont get their $, or maybe "a few weeks later"...

Hope not.

How much of those cards did you use before the big spending? Is it that they dont like little spenders or big spenders w/ credit limit decreases - i've never figured it out... maybe its when you mix the two?

Business and personal. The big spending was on one card with 24k that I always paid right away. When I spoke to them on the phone about the whole thing, they admitted that it was the fact that I had triple the amount of credit on all my cards (they can see from my credit report) compared to my income, which was scaring them off. They said if I cancel some of the cards to bring my credit limit down they would open them back up. But of course that defeats the purpose.

In general they are very fussy now, and no one really knows what ticks them off. They close accounts for many reasons. It could be for spending too much, or for spending too little, etc.

I wouldn't worry about getting an APR increase letter from them, all companies are doing that now mainly because of the new credit card rules from congress.