Staples Business Credit – part 2

As I guess you would have figured out from my previous post, I was getting a bit worried that staples, and more broadly, business credit accounts are either diminishing or tightening, but I cannot seem to find the logic in it. When I applied to staples this time, if I were to get denied, I could have simply summed it up to staples tightening their belts. I applied to Citi for a staples business credit account with a 4 year old corp, where the highest trade was $2500 and the are only 4 tradelines on the business credit file, and got approved. It was not an instant approval and it was not for much. I applied Friday night, and called in yesterday. They put me on hold for about 15 minutes, so I was sure that I would be denied. Low and behold, approval for $500. It’s not great but its

better than nothing right? I sit here looking at the two credit files and I am trying to see what could have been the deciding factors. Now, corp 1 has 8 trades with a 10K high and corp 2 has 4 trades with a $2500 high trade. Corp 1 is even listed as making 2.3 million in revenue and corp 2 only is listed as $930,000. Both corps are 4 years old. The only big difference I see is that corp 1 has $7500 owed and corp 2 only has $100 owed. Although there is no debt to income/revenue ratio that affects your business credit score as there is in personal credit, I suspect that the underwriters use this as a deciding factor. This is the only logical explanation I can come up with in this situation. Marc

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Staples Business Credit – part 2