If i want to apply for an Business Credit Card, do the banks look at my personal credit history or not?
Question:
I am incorporating a new company in 2 weeks, and after a few weeks of working up the capital, i would like to seek to get a Business Credit Card, espically from American Express. Since the company is a corporation, though new, i am wondering if i can get approved for the credit card.
I currently have a 730 credit score, I have had a Visa Credit Card for around 5 months, and have paid all my bills 100% and all on time. The only thing, is that i have 3 inquiries from August / September of 2006, when i opened my Checking / Savings Account and Credit Card.
Is this still possible?
Thank you
Answer:
for a business credit card, they usually check the company 's invested money. when did it establish .etc the last thing they check then the card holder.
I don't know about American Express, but most small business lending is done using the individual's credit history for the underwriting. Since this is a new venture, you will almost certainly have to personally guarantee any borrowing. Your credit score is outstanding, and having three inquiries is meaningless. Whether you get approved or not will depend on whether your request makes sense (such things as the amount of the request, your cash flow, the business you're in being legitimate, etc.), but there is nothing in your question that should lead to any concern.
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