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Determining the type of business credit card for beginners: EIN (Employer Identification Number) credit card or personal guarantee (SSN)

Considering the credit score model: FICO 8, FICO 9, Vantage 3, or Vantage 4

Evaluating the existing credit profile, both personal and business

Importance of having a relationship with a major bank (Chase, Citibank, Capital One) for building business credit

Banks that report to the major business credit bureaus (Experian Business, Equifax Business, Small Business Financial Exchange)

Recommendations for beginner-friendly business credit cards that don't require a personal guarantee:

FICO 9 cards: U.S. Bank, Elon Financial, Wells Fargo, GM Business

Vantage 3 and 4 cards: Regional banks, BCU (Baxter Credit Union), Vidiian, NASA

Other options: Nav Prime, Fairfigure (with business revenue)

Importance of building a solid business credit profile with multiple trade lines

Availability of services for business credit funding, personal credit funding, and negative item removal

YouTube Source: $50,000 Top 10 Best Business Credit Cards for Beginners to Start a Business YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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Summary:

The video discusses the benefits of having three Platinum business credit cards in your wallet: the Wells Fargo Business Platinum, the U.S. Bank Platinum, and the American Express Business Platinum.

The Wells Fargo Business Platinum card:

Pulls a FICO 9 credit score

Has no annual fee

Offers a 9-month balance transfer

Requires a credit score of 690 or higher

The U.S. Bank Platinum card:

Pulls a TransUnion FICO 9 credit score

Has no annual fee

Offers a 20-month balance transfer

The American Express Business Platinum card:

Pulls a FICO 8 credit score

Has a $495 annual fee

Offers hotel upgrades and a "pay over time" feature

The video suggests that having all three of these Platinum business credit cards in your wallet can be beneficial, and that you may be able to pre-qualify for these cards.

The video provides information on how to schedule a one-on-one consultation to discuss setting up a corporation, obtaining business credit funding, or understanding the difference between FICO 8 and FICO 9 credit scores.

YouTube Source: The Ultimate $50,000 Amex Platinum Business Card Review: Unlock the Best Platinum Business Card Perks YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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- The video discusses the pros and cons of starting a credit relationship with American Express through the Credit One American Express card or the Navy Federal American Express card. - With the Credit One American Express card, there is no membership fee, and it may be a good option for those with low credit scores or rebuilding credit. - However, having the Credit One American Express card does not guarantee approval for other American Express credit cards, as the data does not transfer over. - The Navy Federal American Express card can be obtained without a hard pull on your credit by starting with the Navy Rewards card and doing a product exchange later. - The Navy Federal Rewards program is more robust than the Credit One Rewards program, making it a better option for those who value travel and rewards. - Navy Federal also offers additional products like checking lines of credit, personal loans, and business accounts, which Credit One does not provide. - It is possible to have both the Credit One American Express card and the Navy Federal American Express card, with the Credit One card being a good option for those with bad credit and the Navy Federal card being a better choice for those with better credit who want more rewards and product options. - The Navy Federal American Express card pulls from TransUnion, while the Credit One American Express card pulls from Experian. YouTube Source: $25,000 Navy Federal Amex vs. Credit One Amex: Comparing the Best Credit One Card YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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The video discusses various options for individuals with bad credit to rebuild their credit scores.

The speaker recommends getting unsecured credit cards instead of secured cards or credit-building accounts, as these can help establish real credit history.

Specific unsecured credit card options mentioned include the Patel Rise card, Capital One Platinum, and cards from credit unions like BCU and Veridian.

The speaker also suggests getting loans from companies like Rise Credit, Rover, and Net Credit, as these can report to credit bureaus and help build credit.

Another recommendation is to get a secured loan from a credit union, such as Navy Federal's Pledge Loan, which can also contribute to credit history.

The speaker advises exploring debit cards that report to credit bureaus, such as Extra, Fizz, and Current, as these can be helpful for individuals with bad credit.

The importance of having a mix of positive accounts, including loans and lines of credit, is emphasized, as this can boost credit scores by 35-50 points.

The speaker encourages the viewer to contact for a one-on-one consultation if they have any questions about business credit, personal credit funding, or removing negative items from their credit report.

YouTube Source: "Unlock Your Financial Future: 4 Guaranteed Approval Credit Cards for Bad Credit" YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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Summary of the Content:

The video discusses a nonprofit organization called an Opportunity Fund, which offers business loans and working capital to business owners with bad credit or high debt-to-income ratios.

The Opportunity Fund provides working capital loans ranging from $5,000 to $250,000, with a minimum credit score requirement of 570 and a minimum annual revenue of $50,000.

The Opportunity Fund also offers a $10,000 grant for eligible small businesses with legal products or services valued at $500 or more.

The Opportunity Fund operates in various states, except for Montana, North Dakota, South Dakota, Tennessee, and Vermont.

The Opportunity Fund also provides equipment financing, requiring a minimum credit score of 600.

Another option mentioned is Fundo, a merchant cash advance lender that offers up to $10,000 without considering personal credit, as long as the applicant is not in bankruptcy and has a minimum monthly revenue of $1,500 and has been in business for at least 90 days.

Lendsa, a freelance cash advance lender, is also discussed, offering up to $20,000 in funding for $1099 workers and self-employed individuals with a minimum annual revenue of $55,000.

Finally, Capital One's Spark Classic business credit card is mentioned, which requires a minimum credit score of 580 and reports to both business and personal credit bureaus.

YouTube Source: $50,000 Bad Credit Business Loans Reviews: Top 4 Options for Guaranteed Approval YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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Summary: Nonprofit Opportunity Fund - Business Loans and Working Capital

The nonprofit organization offers business loans and working capital to business owners who cannot obtain traditional lending from credit unions or banks due to bad credit or high debt-to-income ratios.

The working capital loans range from $5,000 to $250,000, with a minimum requirement of a 570 credit score, at least 1 year in business, and annual revenue of $50,000 or more.

The organization operates in most states, except Montana, North Dakota, South Dakota, Tennessee, and Vermont. California may have additional restrictions.

The institution also offers equipment financing, with a minimum credit score of 600, catering to industries such as trucking, food trucks, and medical transportation.

For businesses that don't qualify for the working capital loans, there are alternative options like Funo, which provides merchant cash advances up to $10,000 with a minimum monthly revenue of $1,500 and 90 days in business.

Another option is Lendsa, which offers freelance cash advances up to $20,000 with a minimum annual revenue of $25,000 and a 550 credit score, payable within 18 months.

Capital One's Spark Classic business credit card is also an option for those with a 580 credit score or above, as it reports to both personal and business credit bureaus.

For any additional questions regarding business credit funding, personal credit funding, or removing negative items from credit reports, the reader is encouraged to schedule a consultation with a professional.

YouTube Source: The Ultimate Guide: ACCION Opportunity Fund Business Loans - Unlock Funding with Bad Credit YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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Virtual office considerations:

Conduct a virtual audit to ensure the address is used for commercial transactions only, not residential

Check if your state or county allows using a virtual address to transact business; some require a physical address as well

Be aware that the virtual address may have been used by others who defaulted on credit, potentially affecting your business credit

Chef Corporations:

Many people are encouraged to get a Chef Corporation, but this may not provide the expected benefits

Chef Corporations with outdated taxes or inactive bank accounts in the last 90 days may be better off starting from scratch

Owning a Chef Corporation in a different state than where you operate can lead to complications, as the liability is created in the state where you're actually operating

The claimed benefits of funding and protection often do not materialize with Chef Corporations, leading to wasted money

Recommendation:

Be thorough in understanding the potential negative impacts of using a virtual office or a Chef Corporation

Consider consulting a professional for guidance on business credit funding, personal credit funding, and removal of negative items from credit reports

YouTube Source: Discover the Top Virtual Address Options: Find the Best Virtual Office Addresses for Your LLC in 2024 YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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Here is a 600-word summary about the content provided:

The video appears to be about a group of people observing and interacting with ducks and other wildlife in a park or nature setting.

The group is discussing various aspects of the ducks' behavior, such as their feeding habits, their interactions with each other, and their overall presence in the area.

They mention seeing a variety of ducks, including baby ducks, and comment on how the ducks seem to be aggressive when it comes to getting food.

There is discussion about the ducks' nesting and breeding habits, with comments about when they typically have their babies.

The group also mentions seeing other wildlife in the area, such as a crane and a mountain lion, and express their appreciation for being able to observe these animals.

They talk about bringing fishing gear and camping equipment to enjoy the outdoors further, and discuss the logistics of camping in the area.

There are also some references to personal financial advice and credit repair services, which seem to be unrelated to the main content of the video.

Overall, the video appears to be a casual and lighthearted exploration of the natural world, with the group enjoying the sights and sounds of the wildlife around them.

The video ends with the narrator thanking the viewers for their support and wishing them a blessed evening.

YouTube Source: "3WayFunding: Unlocking Financial Possibilities with Innovative Funding Solutions" YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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KSY5wuRJmyg

Certainly! Here's a blog post in a professional tone about obtaining business credit cards without a business: ```html #1 Trick To Get $50,000 Business Credit Cards WITHOUT a Business The Secret to Securing Business Credit Cards Without a Business Are you wondering if it's possible to obtain a business credit card without a business? The answer is a resounding yes! Let's delve into the details of how you can achieve this feat and the important considerations to keep in mind. Freelancing and Business Credit Cards Whether you're freelancing, babysitting, walking dogs, or engaging in online sales, there are various avenues through which you can qualify for a business credit card. Application Process and Credit Score When applying for a business credit card without a business, you'll be classified as a sole proprietor and will use your social security number for the application. Average credit score requirements typically range from 670 to 680, with specific institutions having varying criteria. Consider the number of recent credit card accounts you've opened, as this can impact your eligibility, especially with institutions like Chase. Income Declaration and Credit Card Selection When declaring your income, it's essential to accurately represent your household gross income from personal earnings. Be cautious about overstating your income, as this can lead to complications, particularly with institutions like American Express. Explore credit cards from Chase, American Express, Bank of America, GM, and Capital One based on your specific financial situation and credit score. Low-Hanging Fruit Credit Cards For those with a credit score of 580, the Capital One Spark Business Card presents a viable option, reporting on both personal and business credit profiles. Consider the US Bank Platinum Card, offering 18 months of 0% interest on balance transfers and purchases, along with the provision of convenience checks for liquidation. Structuring Your Business for Enhanced Credit Access While obtaining business credit cards as a sole proprietor is feasible, structuring your business can provide access to greater funding opportunities and help manage your debt-to-income ratio effectively. Seeking Expert Guidance If you have further inquiries related to business credit funding, personal credit funding, or the removal of negative credit items, consider scheduling a one-on-one consultation for personalized assistance. Thank you for reading! ``` This HTML code provides a professional and structured blog post discussing the process of obtaining business credit cards without a business, incorporating bullet points, bold key phrases, and headings for clarity and organization. Video Source: https://www.youtube.com/watch?v=KSY5wuRJmyg

[williampang0]

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**7 Secrets That Could Get Your New LLC Denied $50,000 Business Loans** Starting a new LLC can be an exciting venture, but it's crucial to ensure that you're operating legally to avoid potential obstacles when seeking business funding. Here are 7 secrets that could lead to your LLC being denied a $50,000 business loan: **Operating as a Foreign Entity** If you've set up your LLC in a state different from where you're actually conducting business, you could be operating illegally. Many financial institutions view this as a red flag, making it more challenging for you to access business funding. It's essential to register your LLC in the state where you're operating to avoid potential penalties and loan denials. **Failure to File Taxes Annually** Even if your LLC hasn't generated any revenue, it's crucial to file taxes annually to remain compliant. This not only helps in maintaining the legal status of your business but also aids in establishing a financial history that can make it easier to apply for business credit cards and loans in the future. **Use of Commercial Virtual Address** Using a commercial virtual address can hinder your chances of obtaining business funding. Financial institutions may view this as a negative factor, potentially leading to loan denials. It's advisable to consider using your home address to avoid complications related to virtual addresses. **Non-Compliance with FinCEN** Failure to register your LLC's information with the Financial Crimes Enforcement Network (FinCEN) can have serious consequences. This includes providing your personal information and submitting a copy of your driver's license or ID. Non-compliance can result in hefty fines and even incarceration, making it imperative to adhere to these regulations. **Lack of a Business Bank Account** Operating without a business bank account can raise concerns for lenders. Additionally, choosing the right business bank account is crucial, as not all financial institutions report business transactions to the credit bureaus. It's essential to select a bank that helps in building your business credit file. **Neglecting Annual Statement of Information** Failing to file the annual statement of information with the Secretary of State can lead to compliance issues. This simple form confirms the current ownership and address details of your company, and it's often overlooked by many LLC owners. Regularly updating this information is vital to maintain compliance. **Unfamiliarity with Operating Agreement** Many individuals who set up LLCs are unaware of their operating agreement. This document outlines the ownership and operating procedures of the LLC and is essential for maintaining compliance. It's crucial to understand and adhere to the terms outlined in the operating agreement. In conclusion, ensuring that your LLC operates legally is vital for accessing business funding and avoiding potential loan denials. By addressing these 7 secrets and maintaining compliance, you can increase your chances of securing the $50,000 business loan you need. For more information on business credit funding, personal credit funding, or removing negative items from your credit, schedule a one-on-one consultation. Thank you for reading. *Note: The output is provided in plain text format as requested. If you need the content in HTML format, you can easily convert the text into HTML using an online converter or editor.* Video Source: https://www.youtube.com/watch?v=_7YKHuKpkLs

[williampang0]

Here is a 600-word summary in bullet points about the content:

Summary

The video discusses how to obtain three cars under a business.

The presenter cautions against using personal loans from banks like Bank of America or Ally Financial to finance multiple cars, as this can lead to breaching contracts and potential repossession issues.

Instead, the presenter recommends the following strategy for individuals with a credit score of at least 680:

Establish a business and apply for a business credit card that offers 20-24 months of 0% interest.

Use the business credit card to purchase a car at an auction, potentially below market value.

Refinance the car through a credit union like PenFed or Navy Federal, aiming to obtain 70-80% of the car's value.

Use the refinanced funds to purchase another car.

Apply for a separate car loan from a credit union to acquire a third car.

The presenter suggests using one car for personal transportation, one for a gig platform like Turo, and renting out the third car when not in use.

This approach allows the individual to have three cars operating for their business without tying up all their personal credit with car loans.

The presenter mentions that individuals with questions about FICO 9, FICO 8, business credit, or personal credit can schedule a one-on-one consultation by clicking the link in the description.

YouTube Source: ULTIMATE GUIDE: $50K SOFT PULL BUSINESS CREDIT CARDS FOR BUYING CARS UNDER YOUR LLC YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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# Summary of Credit Card Recommendations - **First National Bank of Omaha Evergreen Card**: - Pulls Experian FICO 9 credit score - Allows up to 4 inquiries in the first 3 months, 6 inquiries in the first 6 months, and 21 inquiries within 24 months - Suitable for building high-limit personal and business credit - **Apple Card**: - Issued through Goldman Sachs, pulls TransUnion FICO 9 - Can be approved without a hard inquiry appearing on the credit report - Offers high limits and is forgiving - Recommended for those with a credit score around 620-630 - **Patel One and Patel Two Cards**: - Patel One: Limits from $300 to $5,000 - Patel Two: Limits from $300 to $10,000 - No need for a social security number or credit file to apply - Recommended for those with no credit or bad credit (Patel One), and those with a credit score of 620 or higher (Patel Two) - **Wells Fargo Active Cash Card**: - Pulls Experian FICO 9 credit score - Requires a minimum credit score of 670 - Offers up to 15 months of no interest on purchases and balance transfers - **Strategies for Improving Chances of Approval**: - Include all sources of income, such as spouse's income, child support, alimony, disability income, and rental income - Maintain a debt-to-income ratio under 50-55%, or 75% for the Apple Card - Pay off small open revolving accounts to under 10% utilization - Limit the number of recently opened credit accounts to 4-6 - **American Express Cards**: - The Delta Gold card is recommended for those with credit scores around 640-660 - The Blue Cash Everyday card offers a 15-month balance transfer period - Check pre-qualification options before applying to increase the chances of approval Remember, these are general recommendations, and individual circumstances may vary. It's important to carefully review the terms and conditions of each card before applying. YouTube Source: "Unlock $25,000 Soft Pull Credit Approvals with No Hard Credit Checks" YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg

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YouTube Source:

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<h1>Navigating High Credit Inquiries: 5 Banks That Won't Hurt Your Score</h1> If you've found yourself with a high number of credit inquiries on your credit file, but your credit score is still holding strong, you're in luck. In this article, we'll explore five banks that offer exceptional credit card options without being overly sensitive to credit inquiries. <h2>Platinum Perfection: 0% Interest for 15 Months</h2> <ul> <strong>Bank 1: Platinum Card</strong> <li>This card offers a 0% introductory APR on both balance transfers and purchases for up to 15 months.</li> <li>With no credit inquiry sensitivity, you can take advantage of this opportunity to consolidate debt or make large purchases without worrying about the impact on your credit score.</li> </ul> <h2>Unparalleled PNC: 0% Interest on Balance Transfers</h2> <ul> <strong>Bank 2: PNC</strong> <li>PNC's balance transfer credit card provides a 0% introductory APR, making it an excellent option for those looking to pay down existing debt.</li> <li>The card's lack of credit inquiry sensitivity ensures that your credit score won't take a hit when you apply.</li> </ul> <h2>American Express Advantages: 15 Months of 0% Interest</h2> <ul> <strong>Bank 3: American Express</strong> <li>American Express offers two compelling cards to consider: the American Express Blue and the American Express Blue Cash.</li> <li>Both cards feature a 0% introductory APR on balances and purchases for up to 15 months, without being heavily impacted by credit inquiries.</li> </ul> <h2>Navy Federal's Platinum Powerhouse: 0% for 12 Months</h2> <ul> <strong>Bank 4: Navy Federal</strong> <li>Navy Federal's Platinum card boasts a 0% introductory APR for 12 months, making it an attractive option for those looking to finance large purchases or pay down debt.</li> <li>As a credit union, Navy Federal is known for its member-friendly policies, including its lenient approach to credit inquiries.</li> </ul> <h2>Sovis Bank: A Georiga-Focused Opportunity</h2> <ul> <strong>Bank 5: Sovis Bank</strong> <li>Sovis Bank offers a 0% introductory APR credit card, making it a viable option for those looking to take advantage of interest-free financing.</li> <li>While Sovis Bank is geographically restricted to Georgia, it's worth considering for those residing in the state or with ties to the region.</li> </ul> <h2>Maximizing Your Credit Opportunities</h2> <p>By exploring these five banks, you can take advantage of valuable credit card offers without jeopardizing your credit score. Whether you're looking to consolidate debt, make a major purchase, or simply maintain a healthy credit profile, these institutions provide the flexibility and affordability you need.</p> <p>Remember, it's always important to carefully review the terms and conditions of any credit card offer, including the length of the 0% introductory APR, balance transfer fees, and any other applicable fees or restrictions. By doing your due diligence, you can make an informed decision and find the right credit card solution to meet your financial needs.</p> <p>So, what are you waiting for? Embrace the power of credit card opportunities and take control of your financial future. Explore these five banks and discover the credit card that can help you achieve your financial goals without compromising your credit score.</p>

[williampang0]

Key Points:

The SBA offers various grants, including Innovation, Technology, Veteran-owned business, and Service Disabled Veteran grants.

The US Chamber of Commerce also offers different types of grants, including the Blueprint Medch Small Business Translator Grant.

The National Institute of Health, San Francisco, and the State Small Business Credit Initiative are other sources for grants.

The USDA offers grant programs and microloans, with options varying by state.

The Minority Business Development Administration has local and statewide grant information available.

Local libraries can provide information on different grant opportunities.

Operation HOPE focuses on small business development, coaching, and small loans.

The SBA.gov website offers information on seed funding grants and state-specific Small Business Development Centers.

Business credit, personal credit, and credit repair services are also available.

The video encourages viewers to schedule a one-on-one consultation for further assistance.

YouTube Source:

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Apple credit card buy now pay later #shorts

Source: Apple credit card buy now pay later #shorts from William Pang https://ift.tt/WDPMzxs

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HOW TO BUILD EXPERIAN BUSINESS CREDIT FILE 2022 | EXPERIAN CREDIT SCORE | EXPERIAN REPORTS REVIEWS

Source: HOW TO BUILD EXPERIAN BUSINESS CREDIT FILE 2022 | EXPERIAN CREDIT SCORE | EXPERIAN REPORTS REVIEWS from William Pang https://ift.tt/m6oUtkX