Business Credit Card
Hello!
I am a small business owner who had a little shop which had an annual revenue of approx $500k/Profit approx $150k. I became unwell & sold the business in 2023 (not anywhere near what it was worth but it’s a niche market in an extremely remote location. I’m lucky I got anything for it). I bought a house (mortgage) and took 2 years off just doing odd jobs, studied business & another trade and travelled a little to recover. My income for the last 2 years has been minimal so I also ran into a little financial difficulty. I wasn’t able to work a huge amount, so my bank gave me a month “hardship” which gave me a month reprieve from paying. The outstanding money has now been absorbed back into the loan, I paid consistently as required for 6 months and the “mark” was removed from my credit rating in Feb (They say it can still show for up to one year but doesn’t affect your rating, however I’m not naïve enough to believe it may not still cause issues).
Anyway.. I am back in good health and re-opened my business (under a different name, but same ABN). I have no outstanding debt other than my mortgage. My business revenue in the last 6 months has been approx $100k from the business and around $30k in jobs since last year.
I would really like to apply for a credit card to help with points and cash fluctuations. Paying suppliers etc. I’ve always had fine credit and paid bills off monthly. I cancelled my last credit card when I sold the business.
Am I dreaming? I don’t want to just apply and have another ping against any name. So just thought asking strangers on Reddit was a stellar idea.
I’m moving into a new shop and will be painting/furnishing so thought a good time to use a wee credit card and build up my rating and get some points again.
Can I use my previous financial statements with the old business name if still under the same ABN? Is it likely the hardship is still a neon sign on my credit file even if the bank tells me it’s not? Are there “easier” points based credit cards to get than others?
Thanks for any advice. Unless it’s mean. Don’t accept my
Thanks unless you’re actually helpful and not condescending. 😊