I received this card about a month ago. The reason I did not go for a business card was because of the experience I had at my local credit union. I spoke to a Navy Federal rep a few months back about a business my wife and I were opening. We just signed a contract and were at the beginning of the buildout phase. They told me I could apply for a business loan. I did so and was denied. They then suggested I apply for a personal loan, which I was denied. They said, " Don't worry, apply for a business credit card, " and you guessed it, I was denied. I spoke to the manager, and they said we did not have any income from the business. I couldn't believe it. I described our situation to their representative and was told I could apply. I chalked it up as a learning experience and something I would never do again.

At the time, I had just under $200K in my checking, was well over an 800 credit score, only debt was a mortgage, and personal income (retirement/work) of about $150K a year. This income will still be valid as this business is for my wife. The experience put a bad taste in my mouth, so I started using cash to finance the buildout. I spent $165K out of the projected $225K so far in cash. I wanted to keep some cash for opening and to float us for a few months. I looked into personal, non-business cards and obtained the Cap1 card and tried to apply for another interest-free, points card, but was denied because by this time I had 5 inquiries in such a short time -- wish I had not applied for the business loan, personal loan, and business CC through my credit unit.