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I don't know the technicalities of an LLC but
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Posted by Bill Homer [Email] (#3427) [Profile/Gallery] (more from Bill Homer) on Fri, 8 May 2009 06:20:54 Share Post by Email
In Reply to: Getting a corporate credit card for an LLC w/o income?, Caarma [Profile/Gallery] , Thu, 7 May 2009 14:53:35
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my startup corporation (with no revenue) had no problem obtaining several credit cards based on my personal finances and guarantee; remember the "good old days" of 2008 when credit card companies would offer to let you transfer a balance of say $20K at zero percent for a year? Sorry, those days are gone, but I still get offers for low interest balance transfers with an upfront fee of 3 - 4%.

My suggestions:
1. Open a business bank account; Chase offered me Visa credit and debit cards tied to that account.
2. Advanta Bank is friendly to small businesses
3. So is Capital One
4. Even Amex has a program, the "Blue Card", which does not need to be paid off completely every month but accumulates interest - they had a low interest rate on balance transfers, don't know what they're offering now. They did lower my credit limit by surprise, despite on time payments, but I don't blame them based on their losses.

Just be very, very careful how much debt that you rack up on these cards, as once the initial "teaser" rate expire the interest rates can be deadly.

posted by 76.223.7...

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