Do you have more than one bank for your LLC?

[Simone Johnson]

Hi!

When starting out, would it be better to get two business bank accounts (with credit cards) to increase your business credit and have access more money?

I’ve looked at Chase, Suntrust (Soon to be Truist after the BBT merger), Wells Fargo and BofA.

I’ve learned that I will need at least two years before I can apply for a business line of credit. I do have a healthy credit score and was wondering if I opened two accounts and applied for two cards on the same day, it would help me to have more access to my own capital.

Is this discouraged? Or has anyone ever done that to start?

Thanks.

[Jon Reed]

Are you asking about what you should do in 2 years when you can get a business credit card or what you should do now?

Either way, if you need the capital from two credit cards (which will by default have a small credit line) in order to fund deals then you should probably put more time and focus into saving up actual cash reserves.