these four banks will approve a new LLC with $20,000 in credit without proof of income that means as soon as you form the business you can go out and find funding without bringing in 12 months worth of bank statements you don't need to hand over 2 years of tax returns and you don't need to have all your financial paperwork together or print out profit and loss sheets before applying they all come with 0% interest up to 18 months too that's free money to invest in your business for over a year plus there's one card that never hard pulls your credit during the entire sign up process a hack that helps 80% of people get approved for Chase credit cards in an MX business card that hands out $20,000 starting limits like candy and one of my personal favorite banks on the business side is the chase Inc business unlimited card now I got approv for a $21,000 limit with this card back in September of 2023 when I decided to re established Barton media LLC which is my internet publishing business in North Carolina it was a fresh start after dissolving that same business in New York my new LLC was only 3 weeks old at the time but I was determined to set it up for success and as a business owner understanding my credit situation was crucial my personal FICO score was around 770 at the time with an average personal credit limit of $155,000 per card I had been slowing my credit card applications for a while so I was sitting at only three open new credit card accounts in the past 24 months so my target was the chase Inc business unlimited card because it came with a huge $900 intra bonus at the time I submitted my application hoping for an instant approval but I got hit with an email saying we'll review your Chase Inc business unlimited credit card application and be in touch soon after I saw that my stomach dropped I felt like my odds were not good since Chase is known to be pretty strict with their approval so I did everything in my power power to just let it go and be patient now the next day I got an email saying to submit a copy of my business articles of organization for verification I grabbed a copy and sent it right over and then I waited and then after about seven to eight more days I randomly got an email saying your new Chase credit card is approved but there was no word on my credit limit then a few days after that I got an email saying welcome to your new credit limit of $21,000 and this is still my largest business credit limit all in all Chase required minimal documentation just a copy of my articles of organization and no additional verification steps were needed they did a hard credit pull of my Experian credit report for the approval though one of the factors that likely played a significant role in my approval was my existing relationship with Chase on the personal side I held a Chase Freedom unlimited card with a $6,400 limit okay Cal from the future here as I was editing this video you know what I increased my limit from $6,400 up to $12,400 and I analyzed over 100 data points from Chase customers and I found that 80% of people with 20 plus th000 starting limits had a prior relationship with Chase this established relationship along with my 324 status seemed to work in my favor and Chase business cards to me are the most valuable cards out there because they come with some of the highest sign up bonuses that you'll ever see as of right now you can earn a $750 signup bonus when you spend $6,000 in the first 3 months and what might be even more valuable to some of you is it comes with a 0% interest for one year too I mean just think about it you get the money you need to start your business right now and you have the entire year to repay with no extra charge and thanks to my prior relationship with Chase they approved me for my highest business credit limit of $21,000 too and you don't even need proof of business income because your leaning on your good personal credit to prove your creditworthiness so you got to hit the link below to learn how to apply for the chase Inc business unlimited card and collect all that $750 intra bonus too so we got to talk about GM and I'm not talking about the car company I'm talking about the credit card small business owners have been getting approved for the GM Rewards Card left and right without a hard credit pull whatsoever here's what one person found they said GM business card $39,000 approval this this is what happens when you're bored I applied under my main LLC have another GM car under a separate smaller number two LLC with a separate Ein I called in and had the C expedited 2 to three day FedEx but they had to cancel the first card order it was a soft pull from my personal Equifax my stated actual documented revenue for that business was 122 million plus dollars for just that LLC I currently have three llc's I honestly think that they would have granted me a larger credit limit but at the time I had a good amount of new cards I was 7 1924 and probably 20 or so increas on my personal Equifax report so at first glance you might think of $440,000 starting limit is amazing but you have to remember they have a 12 million plus dollar a year business most banks will give you about 10 to 15% of your yearly Revenue as a credit limit so by those standards it is kind of low there 17 hard increase in the past 24 months likely contributed to the low starting limit as well when Banks see you applying for a ton of cards quickly they automatically label you as a high risk and called it a credit seeker and you probably didn't know that you can hold duplicate of the same card when you attach each card to a separate Ein or LLC like this person did also it's super hard to find business cards that don't hard pull your credit like the GM Rewards Card does here's another data point they said just approve for the GM business card for $40,000 they did a soft pull but can't determine which Bureau scores were 688 for Equifax 700 for TransUnion and 704 for experience they did not hard pull after the acceptance I'm thinking the strong sales help with the application because I have good business credit but my Max in the past has been 25,000 with a floor and decor account and another person said I figured I would update the world on my instant approval for the GM business card starting limit was $9,000 I've been trying for the car for the last couple years I've been debating buying a GM vehicle and won is 750 off ironically it's the same limit as my Apple card which is Goldman Sachs as well and I had a credit limit increase after the first 6 months from $6,000 and another person said I had initially gotten an offer when the C came out of $88,000 and I didn't accept it as I figured in time the offer would get bigger well that didn't happen but that's okay as others have stated the process was a soft pull and the approval did take about a week I applied and received a $4,000 offer I accepted that offer and waited another week for them to process the application they called me to verify me and then they emailed a final approval now we can say with just about 100% certainty from all those data points that the GM business card should be a soft pull only from your Equifax credit report next US Bank has one of the few business CS that come with 0% interest for 18 months that's nuts and with the right credit profile they offer some great starting limits too check this out they said US Bank triple cash approval $23,000 I continue to find US Bank really easy to work with for business credit they are a TransUnion puller for me this this was the result of a mailer invitation did not say pre-approved and instead set pre-approved to apply in other words I had to roll the dice I already have another C with them for about a year that's received two soft poool credit limit increases since it's opening that started at $20,000 and I think it's now at $30,000 and this was for my sole proprietor business with a lengthy credit history and a personal FICO 8 and FICO 9 are over 820 and not sure what score they use so what I found is a great thing about most large Banks like US Bank is that they will let you get approved for their business CS without formally starting a business I mean you could even wake up tomorrow morning and decide to apply for cars with US Bank Chase or AMX as just a sole proprietor but don't get confused llc's are still a better option because they separate your business spending from your personal spending for taxes and accounting and they open you up to far more funding sources like corporate cards from ramp and divy and they protect your personal assets like your house and cars from legal claims plus you become more fundable with age and time and business and they give your business a professional look to Banks and investors you should really only use a so proprietor to set up as a fast short-term solution so check this out they said so I just went through a bit of an application spree and thought I'd share my results my last personal Card application was about 18 months ago but during that time I racked up around a $250,000 in business credit limits the includes five Chase Ink cards spread across my two llc's a nonprofit I run along with a few personal credit line increases here and there now my total personal credit limit is pushing $350,000 and here are my details before this round of applications for my FICO 8 scores I had an Experian of 804 Equifax of 815 and Transunion of 818 and for FICO 99 I had an Experian of 823 aquax of 801 and Transunion of 830 as for my new account I had zero new accounts in the past 6 months zero in the past 12 months and only two in the past 24 months my utilization was between 4 and 5% my declared household income W2 income was $137,000 and my declared business Revenue was $130,000 now on to the application results they were all instant approvals first up was the US Bank triple cash card with $18,000 starting limit then the Navy Federal Credit Union more rewards card at a $7,100 starting limit and then I got the Fidelity rewards Visa card with a $25,000 limit all of these pulled from Transunion and they were three heart credit pulls my highest personal credit limit is $58,000 on Bank of America Cash rewards card and my average credit limit is around $20,000 for my business my experience rating is an a according to na.com and my DMB Small Business Financial exchange score is 876 through Bank of America business portal as for my relationship with US Bank I have a one-year-old business checking account with a current balance of 11 cents and a business Platinum card which started with a $3,000 limit and was recently Auto increased to $8,000 so this person was a pro and they did a good job explaining their experience too if you don't know an application spree is when someone applies for multiple credit cards within a short period of time usually to take advantage of various signup bonuses rewards and credit limit increases the real goal is to quickly boost up your available credit by focusing on cars that pull from one single credit bureau to minimize hard PS in addition to having good business Revenue at $130,000 they also had great limits on their personal CS at $20,000 to help justify a harder starting limit on their US Bank triple cash card and it always helps that they had an existing banking relationship with US Bank even though they only had 11 cents in the account and before I get to the last bank if you're interested in getting approved for 0% interest business credit cards without proof of income then sign up for my free 5-day business funding course I a't included everything from what your personal and business credit needs to look like to how to find unlimited funding for your new small business and I'll leave a link to that below so next is AMX AMX has a great business card lineup but I noticed that one particular card has been dishing out some insane credit limits check this out they said AMX business Prime approval I found myself using Amazon a lot more this year since the lockdowns and Associated business Behavior began and since I'm considering a new mortgage or Construction Alan I've decided against any new personal accounts are hard pulls for a while even if I do qualify I'm looking at you chase Amazon Prime card so what I did was cold applied for the AMX business Prime card and I got a $20,000 approval with a $100 statement credit I thought I read that it came with a $125 Amazon gift card maybe I misread I had a 811 FICO score too and then another person said AMX Amazon business Prime with a $25,000 approved limit I applied for my first business card tonight again the starting limit was $225,000 I got a gift card for $125 my business Revenue was $25,000 and my TransUnion score was 800 on the personal side it's been a soft pull so far also they are Expediting the card to my address with no charge so I had to say here's a pro tip always ask the rep to expedite your credit card shipping it never hurts and they usually comply now next data point says AMX Amazon business approved for $25,000 starting limit and it seems like everyone was getting 20 plus th000 limits here's another data point saying AMX blue business plus approved got approved with a starting limit of $25,000 I'm really shocked because I have two other AMX cars the everyday and the blue cash everyday both with starting limits less than $10,000 and I never received any credit limit increase on those two cars in the past few years this is my first business card my FICO 8 experience score is 752 and my utilization is 1% and I'm going to hit you with even more more data points they said AMX blue business cash approval well I made it in the garden a whopping 48 days I kept telling myself don't do it just stay in the garden grow what you have but that little blue Centurion devil kept whispering in my ear and today I finally caved and hit the apply button AMX comes back with an instant soft pull approval and a $25,000 starting limit I'm beyond happy about it thank you AMX so it's truly remarkable how so many people were able to get a starting limit of $25,000 even people with low business revenue and low existing personal credit limits were getting shown some serious Love by AMX and here's the best thing about going with AMX if you already have an AMX credit card then every AMX card you apply for going forward will only be a soft credit pull that means you can apply for a credit card with AMX without hurting your credit score after the first card but there is another business funding option that only requires a soft credit pull from the jump and just a few weeks ago I got a appr for $3,300 of business funding with no hard credit pull and no personal guarantee needed from Novo who offer a free business check-in account alongside business funding and unlike credit cards they let you deposit cash directly into your Novo business checking account to use however you want so check out that video next where I show you step by step exactly how I got approved so you can too
