I have a score of 740 and I want to apply for a... - Excellent/Good Credit Questions

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Credit Card Applications » Questions » User Questions » Excellent/Good Credit » I have a score of 740 and I want to apply for a business credit card. However, I just got...

I have a score of 740 and I want to apply for a business credit card. However, I just got laid off and I’m starting my own business. Would I be able to do that without actually having started operating the business yet? Lastly, some of the cards that you offer on your site are for people with excellent credit. How can a person with good credit apply for one of those cards? Wouldn’t that just be a waste of an Inquiry on my report?

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You can apply for a business credit card even if you haven’t started operating the business yet. You will be liable for any charges on that business credit card and it will be tied to your personal credit and will be reported to the credit bureaus. A business credit card can affect your credit score depending on how responsibly you use it. You can also apply for a consumer credit card like the Citi® Diamond Preferred® Card and use it for business purposes.

If you are not applying several times in a row for a credit card, this won’t hurt your credit score. Your credit score will be affected if you are repeatedly applying for credit cards. If you are applying for a credit card which is only for people with an excellent credit history though, you may get denied and that would be a hard inquiry on your report which will bring your score down by a few points so that is not advisable.

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