It takes money (and time) to get money
I received a call from Chase regarding my business credit card application. They wanted to ask a few questions. I'm not sure why because they were the same ones that were on the application. I answered address, time in business and revenue. She then put me on hold to update my info.
When she came back, she told me she couldn't approve my application because my company was too new and my revenues too low.
I asked her if she could approve a small amount to build my credit.
I asked how long/what numbers they like to see before they approve an application.
I can't give you that information. You can go to FICO...
What!? I'm simply asking for some guidelines so I will know the best time to reapply to improve my chances of approval.
Sorry, that's proprietary information, I can't disclose it. You can reapply again at any time.
I told her this was ridiculous. (I got that nasty!)
We hung up.
So what did I learn? Embellish the facts? Make it sound like you've been in business longer (don't use the launch date) and have "robust" estimated revenues.
And the strangest part of all? Three days later I received an email telling my application has been approved and my new credit card is on its way. I got it later in the week.