u/ComebackCredit

After watching a lot of business owners waste hard pulls on products they were never qualified for, I put together a list I use before any credit application. Sharing it here because I see this question come up constantly.

Before any lender pulls your credit, ask:

1. Which bureau do you pull? (Equifax, TransUnion, Experian for personal; D&B or Experian Business for business)
2. What's the minimum credit score required?
3. Is a banking relationship required, and for how long?
4. What documentation is required? (Tax returns? Bank statements? Personal credit only?)
5. Is this secured or unsecured? Any deposit required?
6. Is a personal guarantee required?
7. Does the business entity need to be a certain age?
8. What's the typical credit limit range?
9. Is there a 0% APR introductory period?
10. Are balance transfers available? Any fees?
11. Will this report to personal credit, business credit, or both?
12. What's the max DTI allowed?

Questions 1, 4, and 11 are the most important. If a banker can't answer those three, I move to the next bank.

The goal isn't to convince the banker. The goal is to avoid wasting a pull on something you were never going to get.

Happy to answer questions if this helps.