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https://houstonmcmiller.com/how-to-get-business-credit-cards10667319, https://3wayfunding.com/how-to-get-business-credit-cards, http://www.businesscreditamerica.com/, 1-888-883-3013

How do I get business credit cards and business loans with a 80 Paydex score?

Many people have come across misleading information of getting business credit cards with a 80 Paydex score.  First, you must understand a paydex score is a three digit number that given to a business from Dun and Bradstreet.  This number is generated once a business has four or more business tradelines or vendors reporting to them. 

Once you’ve generate this number trade vendors use this number to make a decision on whether they are willing to offer your business credit.  The higher the paydex score the better your chances are to being approved for credit.  If you have a paydex score below 80 points this lets the creditor know you are not paying your other vendors on time.

Now, if you’re trying to build your paydex score to get business credit cards or business lines of credit, there are other factors that are used to determine,if you’re going to get approved for business credit.  When you apply for business credit cards or business lines of credit, most lenders will want to look at your personal credit, your business bank statements, or your business financials.

The paydex score is irrelevant at this point when trying to get cash and credit for your business.  This is the reason we suggest people to stop wasting money on Net30 accounts and just fixed their personal credit and put the money into a business bank account.

https://houstonmcmiller.com/how-to-get-business-credit-cards10667319, https://3wayfunding.com/how-to-get-business-credit-cards, http://www.businesscreditamerica.com/, 1-888-883-3013

Should I Co-sign A loan, credit card, or Apartment for a Family member?

If you’re a parent then I suggest to add your kids on your credit accounts as authorize user.  This will build up their credit, so you as the parent will not need to co-sign for their student loans, cars, and apartments. 

Now, if you have a family member or love one that having credit issues and they ask if you would sign for them a car, credit card, or apartment, then I would suggest you not to do it.  The reason is that it could ruin the relationship.  For example, if a family needs to move into a new apartment and they ask you to co-sign and you decide to do it.  If that person loses his or her job, then you’ll be stuck with making the payments or ruining your personal credit and the relationship.

I always suggest if a person is having credit issues offer to help them repair their personal credit, if they refuse, then you know that person is not the one to be offering help too.  Some may argue that you should look at how financially responsible the person is in order to determine if it’s worth you putting your good personal credit on the line.  However, you must factor in that things could happen to the person or their employment and that may leave you on the hook for extra bills.

So, in conclusion, I would suggest find other ways to help them, rather reserve the relationship then jeopardize personal credit if the person is not will to fix their own credit.

https://houstonmcmiller.com/business-credit-cards-and-personal-credit-cards-program8408213, https://3wayfunding.com/how-to-get-business-credit-cards, http://www.businesscreditamerica.com/, 1-888-883-3013

How to get a business loan for people with bad credit?

The easiest way to get a business loan for people with bad credit is to take out a loan thru your 401k plan it’s called a ROB (ROLL OVER BUSINESS LOAN).  If you don’t have a 401k or Roth, you may want to consider putting up some assets for a collateral loan.  It’s a lot of lenders that will ignore your personal credit if you have an asset to borrow against.  Those assets make be a piece of land, a car, or a family heirloom.

However, if you don’t have any assets to use as collateral, you make want to borrow the money from a family member of a friend or ask them if they would be willing go into business with you.  You make want to also start putting a small portion of your paycheck aside to help you move toward you goal of saving up to start your business.  

Now depending on what type of business you’re going into, you make be able to pick up a few clients and see if they will give you an advance toward future business. 

Most don’t realize it really does not cost a lot to start a business the issue for most is finding the right customer for your product or service.

https://houstonmcmiller.com/how-to-get-business-credit-cards10667319, https://3wayfunding.com/how-to-get-business-credit-cards, http://www.businesscreditamerica.com/ 1-888-883-3013

Should I Buy A House Vs Buying An Apartment Complex

If you’ve never owned any real estate and your in the market looking at homes and apartment buildings, you make want to consider who’s going to pay for that piece of real estate.  Let’s say you’ve found a house you like and an apartment building in the same area.  The mortgage on the new house is $1500.00 and the apartment building is $1500.00. 

One person decides to buy the new house for his family.  Now, he’s the only one responsible for that piece of real estate.  So, if he loses his income, he’s going to more likely lose the house and hurt his credit.  Now the other person decided to buy the 4 family complex.  His mortgage is also $1500.00, however he decides to rent out 3 of the units for $500.00 each, which covers his mortgage.  So whether he has a regular income or not his still keeps his piece of real estate. 

Also, the second person decided to add solar panels to the property and switch everything over to electric, and increase rents to $850.00 for each unit.  He decides to pay all utilities for those three tenants.  He gains an extra $1050.00 in rental income and he still does not have to pay any of his income into this piece of real estate.  He also gets to save up to buy the house the first person lost and the tenants from the apartment complex are paying for that house to. 

https://houstonmcmiller.com/how-to-get-business-credit-cards10667319, https://3wayfunding.com/how-to-get-business-credit-cards, http://www.businesscreditamerica.com/ 1-888-883-3013

When trying to decide whether to use a credit union or a bank when applying for a credit card. There are a few factors to consider.

1.) With a credit union you are a member, or a stakeholder. With a bank you are simply a customer. Banks are for-profit institutions and their goal is to make money for the stockholders of the company. A credit union is not-for-profit entity and their goal is pass through the profits to the members. This comes in the form of added member benefits such as low fees and low rates.

2.) Its a misconstrued opinion that credit unions have limited branch and ATM locations. However, many credit unions belong to larger networks, such as the Credit Union Service Centers.

3.) Most credit unions offer credit cards just like a typical bank. What isn’t so typical are the exceptionally low APR rates they offer.

4.) Credit unions have many available ATMs, but they are also fee free! The average fee for an ATM is $2.33 and is on the rise. Now if you use your bank issued ATM card at a third party ATM, then you just doubled your fees. With a credit union ATM card, you can withdraw your own money fee free as long as it’s at a participating ATM. Even if you withdraw money from a third party, you may have to pay their fee, but most credit unions don’t charge for the transactions themselves. I’m too busy to walk into a branch office every time I want to withdraw some money, and I feel that I shouldn’t have to pay hefty fees when I do.

5.) At a credit union, credit cards, home equity loans, mortgages, auto loans, and personal loans all enjoy lower rates than you will find at a bank. At the same time, savings, checking, money market, and CD’s have higher rates. I don’t typically endorse putting any significant amount of your money into savings and CD’s as inflation tends to outpace them, however, most people feel more comfortable doing so and they might as well earn a higher rate!