business funding funding

[Stacy Banks]

Hello, I'm planning on applying to Chase and Wells Fargo for their business credit card products. Can I apply for both banks in the same month? Any suggestions will be helpful.

[Paul Novak]

You can I would just watching to not to apply too many places.  Every time your credit gets pulled it a hard inquiry which hurts your credit.

[Lateefah Mathews]

@Stacy Banks Hey there! I’d recommend starting with business credit cards that only require a soft inquiry, so you don’t risk a denial from one bank that could influence the others. There’s definitely a strategy to applying for business credit to avoid alerting other lenders that you’re shopping for credit. Several banks offer soft inquiry options, I'd try those out prior to risking the HP. Also, I recommend you have a banking relationship with Wells and Chase prior to shopping if that's the route you're definitely going to take. 

[Stacy Banks]

Quote from @Lateefah Mathews:

@Stacy Banks Hey there! I’d recommend starting with business credit cards that only require a soft inquiry, so you don’t risk a denial from one bank that could influence the others. There’s definitely a strategy to applying for business credit to avoid alerting other lenders that you’re shopping for credit. Several banks offer soft inquiry options, I'd try those out prior to risking the HP. Also, I recommend you have a banking relationship with Wells and Chase prior to shopping if that's the route you're definitely going to take. 

Hi Stacy, thanks for the info, and yes I  have a relationship with WF & Chase. Also can you list some banks that allow the soft pulls when applying for business products. Thank you ..

[Stacy Banks]

Quote from @Paul Novak:

You can I would just watching to not to apply too many places.  Every time your credit gets pulled it a hard inquiry which hurts your credit.

 Yes, that's why  want to be prepared and knowledgable before applying. Thank you for your feed back..

[Bonnie Low]

Just curious why you're looking at those two banks for credit cards? I think there are better options out there - particularly cards that offer cash back and other perks. Do a little research on using CC's for your business and paying 0% interest - there are quite a few people who teach about this. One that I know of is Meg Stafford at Dreamy Capital.

[Paul Novak]

Quote from @Lateefah Mathews:

@Stacy Banks Hey there! I’d recommend starting with business credit cards that only require a soft inquiry, so you don’t risk a denial from one bank that could influence the others. There’s definitely a strategy to applying for business credit to avoid alerting other lenders that you’re shopping for credit. Several banks offer soft inquiry options, I'd try those out prior to risking the HP. Also, I recommend you have a banking relationship with Wells and Chase prior to shopping if that's the route you're definitely going to take. 

 Lateefah, thanks for sharing the information about soft inquiry.  I didn't know there was such a thing.  This is something I will have to keep in mind for myself in the future.