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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: Bbqmustache on January 03, 2018, 12:17:37 PM

Title: Applying for credit cards
Post by: Bbqmustache on January 03, 2018, 12:17:37 PM
I am trying to get about $35k in credit to bootstrap a business.  Credit score high 600s.  I was approved for two cards totaling $15k but turned down for others.  All this through third party Iron Capital.  What other steps can I take?
Title: Re: Applying for credit cards
Post by: boarder42 on January 03, 2018, 12:34:55 PM
this sounds like a recipe for disaster.  there's quite  a few red flags here

1. 35k in credit to start a business - and you're using credit cards - seems pretty bad from the top down
2. you already have poor credit - it got there somehow.  could it have been b/c of doing number 1 previously.

i'd work on increasing my credit to get a small business loan ... other than that.  this seems like its doomed to fail

i'd be cautious owning a blog about financial literacy and posing this question