Where can I get a $15,000-$50,000 limit credit card?

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Mrfrog840

Diamond Member
Oct 7, 2000
3,595
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I started a small business and I need a good credit card.
I install Home Theater's in homes and busineses :)

Does anyone have good advice on card type or the easiest card to get approved for?

Where are you Rossman?

UPDATE:

Ended up applying for:

Chase Rewards:Approved! not sure what my limit is
Amex:Approved! not sure what amount (guess there is no pre-set spending limit)
Avanta: Declined
MNBA:Approved! not sure what amount
Citi Drivers Edge:Approved! 2300 CL

I need to charge almost 15,000 initially for a jobsite. The client has already put a down payment, and i would love to charge 9k and then pay it off after the first month. Help build my credit even more.
 
RossMAN

RossMAN

Grand Nagus
Feb 24, 2000
79,049
445
136
Originally posted by: Mrfrog840
Where are you Rossman?
Click to expand...

Based on personal experience I'd say Chase and MBNA are fairly generous with their limits.
 
M

Mrfrog840

Diamond Member
Oct 7, 2000
3,595
1
0
Originally posted by: RossMAN
Originally posted by: Mrfrog840
Where are you Rossman?
Click to expand...

Based on personal experience I'd say Chase and MBNA are fairly generous with their limits.
Click to expand...

Do you have a specific link or is it the one in your profile?
 
J

jagec

Lifer
Apr 30, 2004
24,442
6
81
Hah, I got an MBNA CC a few years ago when I was first going into college. Pretty much no income, my first credit card, just signed up to get the free T-shirt...they just kept raising my limit without me even asking. It's above $11k now, and I've never once asked for an increase, and as far as they know I'm still broke (they wouldn't be very far off on that bit).
 
A

Aztech

Golden Member
Jan 19, 2002
1,922
0
0
Yep FW Finance is loaded with info. I think maybe go with the Chase Freedom card right now. They are (or were) offering $250 credit after your first purchase. Also, get 3% back for groceries and gas and 1% back everywhere else. I got one.
 
D

DaWhim

Lifer
Feb 3, 2003
12,985
1
81
Originally posted by: Mrfrog840
Originally posted by: George P Burdell
Don't Amex business cards come with no preset limits?
Click to expand...

you almost need perfect credit to get them though :(
Click to expand...

negative. you apply to their business charge card which you pay off monthly
 
L

LS20

Banned
Jan 22, 2002
5,858
0
0
amex charge cards are easy to get , and they have no stated "hard" limits (theyll probably stop you if you charge lots of money)

their credit cards are also the most generous (in my opinion)
 
M

Mrfrog840

Diamond Member
Oct 7, 2000
3,595
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P

PAB

Banned
Dec 4, 2002
1,719
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Originally posted by: George P Burdell
Don't Amex business cards come with no preset limits?
Click to expand...

This is correct. HOWEVER after your first month, they evaluate spending and do establish a limit.

If you intend to have high charge volume, go amex - get the preset spending limit and go nuts charging up a storm.

My credit is pretty good and my line is 17.5 with them.
 
G

gsethi

Diamond Member
Feb 28, 2002
3,457
5
81
get a Visa or MC. Your vendors will hate you for using AMEX. Thats b/c AMEX charges about 2% more in merchant fees than Visa/MC (excluding Visa/MC Reward cards here).
Might as well pay them via Check (ask for terms ??) and ask for more discount (if the amount is high).

~3-3.5% (what AMEX usually charges) on 10k = ~300-350 from vendors profit.
Pay your vendor with check (or Cashier's check at start) and ask them to give you another ~2-3% discount instead of using your AMEX. most should happily do that.

For my dad's business, our purchase is ~250k per month (in a slow month) and its all done on company checks (terms with vendors).
 
Squisher

Squisher

Lifer
Aug 17, 2000
21,204
66
91
All three of mine, Citibank, Chase Perfect, and Amex Green are 30K.

If I remember correctly they had me send in a copy of W2's to bump me up to 25K the first time.

 
AgaBoogaBoo

AgaBoogaBoo

Lifer
Feb 16, 2003
26,108
5
81
Amex does a great job and for businesses will often time give you a card with "no limit". I'd recommend Amex by far.
 
Whoozyerdaddy

Whoozyerdaddy

Lifer
Jun 27, 2005
19,216
1
61
Originally posted by: Mrfrog840
I started a small business and I need a good credit card.
I install Home Theater's in homes and busineses :)

Does anyone have good advice on card type or the easiest card to get approved for?

Where are you Rossman?

UPDATE:

Ended up applying for:

Chase Rewards:Approved! not sure what my limit is
Amex:Approved! not sure what amount (guess there is no pre-set spending limit)
Avanta: Declined
MNBA:Approved! not sure what amount
Citi Drivers Edge:Approved! 2300 CL

I need to charge almost 15,000 initially for a jobsite. The client has already put a down payment, and i would love to charge 9k and then pay it off after the first month. Help build my credit even more.
Click to expand...

Speaking as someone who ran a business like this for the last ten years... It's nice to have the credit available but for God's sake... never let your customer leave you dangling out in the wind...

When I presented my payment schedule to my clients I always pointed out that I would be ahead of the curve money wise. In other words, they were banking their own project. I was never behind on the money until the last phase of installation (The carrot to finish the job - and close the deal) and by then all I was collecting was the remainder of the profit.

I have seen businesses like this tank because they don't schedule their payments correctly. They stick their necks out on a job and the client doesn't pay. Don't let this happen to you. You should NEVER let yourself depend on a payment from a client to pay a bill. Collect the money and then make the order.

The credit card should be a formality as most of your vendors should be willing to grant you a credit line. If you get a discount for paying ahead then take advantage of it and use the card. (Get miles) But under NO circumstances should you ever use that card because you are lacking funds to make the purchace.

Just a little advice from some one who has done this a few hundred times.
 
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