January 26, 2022 at 11:26 am #1234054EverglowParticipant
- Total posts: 1
Hi everyone. Is it possible to get a bussiness credit card as a new business that has no trading history yet? We are setting up a new electrical business and are wanting to get a credit card with interest free days and reward points to use to buy materials. Any ideas, experiences as to how to approach this or tips from anyone that has successfully done this would be appreciated. Thanks so much.January 26, 2022 at 9:45 pm #1234057Paul – FS ConciergeKeymaster
- Total posts: 3,321
Hi And Welcome to Flying Solo Everglow. It is great to have you!
Thank you for joining our community and posting.
A friend has an overdraft which works like a line of credit – I’m not sure if the bank asked for collateral and that really is the $64,000 question.
It also acts as a shock absorber for cashflow which is highly beneficial for any business that needs every ounce of capital it can get.
Seeing you bank or asking an Accountant will get you answers.
I hope all of your business dreams come true!
PaulJanuary 31, 2022 at 6:44 pm #1234117storewallParticipant
- Total posts: 27
I have looked into the line of credit and it can be both secured and un-secured. The difference being the rates/fees that apply. In either case some financial and tax records were required as trading history.
I also have a business transaction account with CBA and pop-ups appear regarding a business CC. I suppose it would be the same as the line of credit. Being un-secured the rates would be high.February 6, 2022 at 4:39 pm #1234257bruce.johnstoneParticipant
- Total posts: 3
One of my lenders has a very flexible Business Credit Card Product with a very simple application process.
Please message me with your name and phone number if you are still interested.
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