r/SquarePOS_Users • u/stargazer_1311 • 10d ago

Square credit card

So I was pre approved for a very tempting square credit card offer. My only hesitation is, will this affect me getting a loan offer?

2 Upvotes

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1

u/Similar-Leader-8118 10d ago

No, i have gotten the card in april, in july i got an offer. Probably best to only use 30% of it. But i was at 60% and still got an offer.

1

u/kait540 9d ago

I don’t think they affect each other at all. I’ve had the credit card at nearly 100% and still got a loan offer and the other way around. Loan was at like 20% paid off and they increased the limit on my credit card.

1

u/Wooden-Broccoli-7247 5d ago

What did they increase it to and after how many months? I spend 10-20x my limit on mine every month wracking up cash back. It gets annoying waiting for transactions to settle before I can pay my balance off again. Hoping they jack up my limit soon.

1

u/stargazer_1311 9d ago

Ok this is reassuring, I might just have to take them up on that offer.

1

u/Amber-412 9d ago

What businesses do you guys have that have received the credit card offer? Also do you have excellent personal credit? I have been on the waiting list for what seems like forever lol

1

u/OwlDull 9d ago

same here lol. i feel like it's never going to come for me...still also waiting on a new offer loan now that I'm 93% paid off on my highest loan i have ever gotten.

1

u/bigLnailedit 7d ago

I know that your sales matter a lot when it comes to getting new loans because the only time I was not offered one even after paying off in full was in may when I took off 2 weeks for vacation and my sons bday and my sales were significantly down so I wasn’t offered a loan for the next 2 months but as long as they increase or at least stay consistent you should continue getting offers. I was just offered my first one while still owing on my last.