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Is this a good way to get business credit?

Discussion in 'Business & Tax Advice' started by Roparadise, May 14, 2012.

  1. Roparadise

    Roparadise BANNED BANNED

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    1. set up llc
    2. get EIN for the llc
    3. Open a business checking account for the llc
    4. Get a secured credit card for the llc,and use it for a few months
    5. Apply for credit card.

    I was reading this on another site a while ago,but not sure if it will work or its bs.
     
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  2. mrlawless

    mrlawless Newbie

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    Occupation:
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    Setup LLC ,

    Get business credit Coach
    Open bank account
    Setup real business
    Get DUn And B Number
    Setup Phone number and real business address
    Setup Net30 Vendors

    Keep doing it until u have good Trade In

    then keep doing it ...u ll get $200.000 trade line or credit :)
     
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  3. GlobalSolutions

    GlobalSolutions Jr. VIP Jr. VIP Premium Member

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    Wow, awesome advice! Thanks mrlawless.
     
  4. Roparadise

    Roparadise BANNED BANNED

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    How long would it take to get $10,000 in business credit?
     
  5. Needalead

    Needalead BANNED BANNED

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    To get 10k or more, I would estimate about 6 months if you are careful with it. Don't try to take short cuts. Take it from a person who has tried short cuts.
     
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  6. mrlawless

    mrlawless Newbie

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    After 8 months finally i got a credit card offer for the business !! IT DOES REALLY WORKS ! BUSINESS CREDIT BUILDING !!
     
  7. Ebcompany

    Ebcompany Registered Member

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    You got a credit card offer? or a credit card? Just curious....cause when I file a new Dba or something for my corp or personal as sole proprieter on a startup....I get credit card offers the next day lol....its all public information so credit companies jump on it....
     
  8. Moneyman94

    Moneyman94 Junior Member

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    The credit cards even though they are business will require personal guarantee frmo the holder unless your business has grown large enough.
     
  9. jkwak

    jkwak Regular Member

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    In my mind
    You can sign up for business credit cards and they will give it to you contingent upon your personal credit. Essentially as a start-up the initial line of credit for your business will have to be guaranteed by you personally anyways.
     
  10. Moneyman94

    Moneyman94 Junior Member

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    bingo!