How to get a business credit card for a startup?
Are you a new business and you're ready for some business credit cards?
Are you fed up with trying to use your own credit cards and your own personal savings
to fund your business? Well, it is time for you to get those business credit cards. I'm going to show
you exactly how to do it so you don't get denied and you only get approved. Let's go.
I'm going to tell you exactly how to get approved for business credit cards
even if you're a startup so that you don't waste any time applying with the wrong companies.
I'm going to share with you my biggest insider secrets on which companies are actually lending to
startups and what to say so that you get approved. And if you stay to the end, I'm going to share
with you my super-secret blueprint on how to fast track your business credit right now. So, when
it comes to getting funding, there's 2 types of credit reports we already know. You have personal
credit which will look at what your personal credit score is. There's 3 bureaus --Equifax,
Transunion and Experian. And the thing with personal credit is they're going to be looking at
what your debt ratio is. They'll take all of your trade lines. For example, if you have an auto loan
or mortgage or personal credit cards or even student loans. Those will all be reported on your
personal credit report. And they will give you a FICO score based on what those scores represent.
In the personal credit world, it's very important to make sure that you don't utilize a lot of your
credit. They want you to have credit but they really don't reward you for using too much of it.
You don't want to have for example credit cards and the limit on the credit card is 10,000
and you used $8,000 of that credit line. That is going to lower your credit score because
of the debt utilization. But in the business credit card world, things are much different.
In business credit, there's 3 bureaus as well. No Transunion. There's Dun and Bradstreet,
Equifax business and Experian business. But the beauty of business credit it is totally different
from personal credit. Instead of looking at what your debt ratio is and how well you've used your
credit cards in relationship to the limit, they instead look at how well you manage your debt.
Because you are being scored against all other businesses, you're even scored against big
businesses like Apple and Microsoft and GE. So, if you have a credit card on your business credit
report for example and the limit is 10,000 and you've used 10,000 of it, they don't necessarily
lower your credit score the way that they would on the personal credit side. Additionally,
all of the credit cards that you get in your business's name on your business's credit report
will not report on your personal credit score. That's going to be awesome because businesses
use credit much differently than consumers use credit and you are rewarded in the business
credit world for how well you pay your debts, not necessarily what your debt to income ratio is.
So, now that you understand business credit... And again, I made an entire video about it.
Make sure you chat below and ask me any questions that you have about business credit.
I read all of the comments and I want to make sure that I'm helping you with this. Even as a startup,
you can get business credit cards and I want to make sure that I'm helping you along the way.
So, there are many benefits of starting a business. If you are a startup, you want
to go ahead and make sure you literally start the business. Go ahead and start the business because
there's so many benefits of having your own real business. You'll be able to create your own hours,
you'll be able to work from anywhere in many cases depending on what type of business you start,
and you will get to be your own boss. I know that I used to be a working person. In fact, I used
to work for many many years. I'm a real estate entrepreneur, a mentor, and a mom of five. But I
used to be a mom of 3 and had to work and go pick my kids up from daycare and work overtime and do
all of these things that I hated to do in order to pay my bills. But as a real estate entrepreneur,
I'm able to create my own schedule, make my own hours and I create how much money I make. I
literally make way more than I ever did working for anyone else because I give my business all
of me. And you can do the same thing with your business. You start the business set it up and
you work only in your business. And you give your business all of your time, all of your energy,
and all of the effort instead of giving it to someone else's business. It's an awesome thing.
So, let's talk about how you will set up your business quickly because this is very important.
Even if you are a startup, you need to set up your business. You need to go ahead and name
your business. You want to make sure you go ahead and you register your business with the secretary
of state. Yes, go ahead and get an LLC, an S corp, or a C corp. It's very important that you do this
because that will make your business legitimate and people will be able to find your business
and see that you've invested in your business. Again, even if you're a startup, spend a couple
of hundred dollars that it takes to go ahead and register that business with the secretary
of state. You can do this quickly. I literally have students that are able to set up their
entire business in just one day. It all depends on what state you live in. Many states allow you to
do the whole process online. The next thing that you want to do is get a professional phone number,
a professional email, and a professional website. Once you've done these things,
you will have a legitimate business and you can start to get funding for your business quickly.
Next, you want to also make sure you get an EIN number for your business. Once you have
the business registered with the state and the EIN which you can get for free from irs.gov,
you can take those documents straight to your bank and you can get a business checking account.
Getting a business checking account is going to unlock so much money for your business.
Especially if you make regular deposits into your business checking account.
Many people don't know this but if you have a business checking account and you can show that
you've been able to generate income in your business, many companies will lend based on
the deposits in only 3 months worth of bank statements. So, go ahead get that business
checking account and do it soon. Another thing and so many people do not know this. Now, there is
historically more money for businesses than ever before. Many cases, you will go and you will set
up your business checking account and you will literally get offers for business credit cards
and business lines of credit right on the spot. I literally had one of my students get over $80,000
in business credit cards and a business line of credit when they opened up their business checking
account. Again, there's more money out there than ever before especially for women-owned businesses,
minority-owned business and even veteran-owned business. And if you have good personal credit,
this will speed up the process and they will help fund your business even as a startup.
Next, if you are looking for business credit cards for your business, make sure you set up
a PayPal business account and a Square business account. Those companies lend to startups and
they have lots of money to lend. Literally, PayPal makes billions of dollars per year. And what they
are doing is they are actually giving back to small businesses every day. They have new loans
out there for working capital and loans for your business. You literally just need to set up your
business account, have a real business, and show some transactions. After 3 months, I'm literally
seeing students get offers for at least $10,000 in their business's name. Once you start doing this,
you're really on your way. And last but not least, I'm going to give you a bonus tip.
This is new and hot off the presses. I'm going to put a link below for a company called 5-star
processing. Literally, you only need a credit score of 300 and you need a business like I
told you already set up with the business name, EIN and things like that. And they will set up
a merchant processing account for you and they are lending to startups. I put a link below,
go ahead and check them out. It's absolutely free for you to check them out and they can get you
set up and get you business funding right away. So now you know exactly how to get a business credit
card for your startup. Go ahead and check out my link below. I have a free blueprint
for fast track business credit. There's a link below. It will show you exactly how to do it
step by step already outlined for you. I want you also to like this video, subscribe to my channel,
make sure you click that little notification bell so you do not miss any of this content that i am
bringing to you for free, absolutely free with all of the information, all of the resources,
and all of the knowledge that you need to be successful. This is Noelle. To your success.