17
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Lela
Lela

So far they are a pain. As noted below, they require you to fill out the form so they can get a transcript of your taxes from the irs, in my case personal taxes with 3 schedule C’s. They require that I have a DBA and that it matches my taxes, yet, my taxes show no DBA for the business I am applying for (reselling). They are suggesting combining all my schedule C income, which is fine, but makes me suspect that they have minimum $ requirements. I had about $7K in the reselling biz on tax forms. I didn’t file last years taxes so I am showing 2019 taxes, and they say I will likely be denied if I don’t prove I have an extension. Also np, but, also makes me suspect. I think they may loose their shorts if they see the front page of my taxes, which have a very low income, which doesn’t include domestic partner or trust income, and I’m not excited to prove all that. And, the banker seems pretty daft. I told the banker this is not the most difficult application I had ever made, but nearly so. She said I probably hadn’t ever applied for a biz card before. I said only about 10 or 12 of them. She’s clueless and I’m not scoring points. Completely concur they are dumb, disorganized and difficult. Debating if they will just close my card or deny me, so it may not be worth the effort and the pull. Upside is that I would hit their 5% categories without any sense of guilt after this.

Jesse
Jesse

Does anybody know if this bank’s Business cards report to personal credit bureaus (for a SP using SSN)?

Yieldn
Yieldn

Anyone apply for this? Where does the office supply MCC 5111 work? seems it could work at a spot online thats common.

cameron
cameron

dont think this is in the credit card category.

Sexy_kitten7
Sexy_kitten7

Tried doing over phone but told cannot – have to come in :/ Also wanted tax returns.

sg77

Do you mean tax returns showing the business’s taxes, or just your personal tax return? If the business was started this year (so no tax returns yet), that might avoid the issue.

Sexy_kitten7
Sexy_kitten7

They wanted me to look up my sked C and total income, not guesstimate.

FX
FX

I opened a checking account with them back in April to get a $300 bonus with a direct mailer offer. Only requirement was spend $1000 on ten separate transactions using the debit card within three months. So I hit the Apple store a couple of times and bought gift cards. Their online user interface is very basic compared to Chase or BofA also depositing a check had its frustrations.

patoot10
patoot10

Does anyone know if this lousy bank lets you product change between different personal cards?

Andy
Andy

Imo, 10% back (either cash, points, or miles) signup bonuses are dime-a-dozen nowadays.

Having to sign up in-branch makes this one a dead duck as far as I’m concerned.

Jake
Jake

Well if its credit account opening process is like its checking opening process, then stat the hell away.

Jason
Jason

Details? I live very close to a branch, and don’t mind spending an hour in the branch bullshitting about my “business”, but is there something particularly atrocious here?

Ali T
Ali T

They are just notorious for being super strict and have previously known to approve applications only to deny 4 weeks later. They are just kinda disorganized AND strict which is a bad combo.

Jason
Jason

Oof. So they give you the card, you can make a bunch of charges on it, and then a few weeks later they say “lolno” and close the card? I don’t mind wasting a hard pull that much, I WOULD mind having a bunch of wasted MSR spend though.

Ali T
Ali T

I don’t think the behavior would be the same for credit cards. Loans are generally more consistent because it’s already gone through underwriting. It’s the checking account that gives the problems. But all in all a turn off for a bank.

Jesse
Jesse

They’re talking about checking accounts and things like pulling CHEXSystems AFTER accounts were open to look for bank acct churners.

Deborah
Deborah

I just got a mailer for $300 bonus on a checking account, with the only requirement being a minimum of three deposits totaling $1,500 or more within 90 days of account opening, and keeping the account open for 120 days.

Are they really so problematic that it’s not worth doing this? (They hold my mortgage so maybe that’s what I was targeted.)