[Da-Kid]

Hi friends,

I'm new to this post and the information that I've read thus fare is simple short of amazing. However, I have a few questions...

I'm creating a start up buisness ready to launch in June '08. It's a real estate service company that involves consulting to motivated and stressed sellers and buyers with bad credit. I will be in the business of "controlling property" from sellers so I don't really need a big line of credit because I will not be purchasing property. I will also be helping bad credit home buyers re-establish their credit to obtain the best mortgage financing. I have not yet to set up an LLC. I plan to get the paperwork done sometime in the next two weeks.

This is what I have so fare...

~ my website established and on the web
~ my 1-800 number through Got-Vmail
~ P.O. Box number from local post office
~ Personal credit score, average 770

This is what I need...

~ Business bank account
~ Legal entity (LLC)
~ Business Lic.
~ Business Line of Credit/Credit Cards

Ok, I wanted to apply for a business card to purchase my LLC and to take a training course that cost about $1,400 that will help to increase my revenues by helping sellers in Foreclosure keep their home. I received a promotional mailing in the postal mailbox for a WaMu Business Card. It seems that WaMu wants me to personally guarantee the credit card. Is this a good idea? I feel as though I need business credit to help seperate my personal credit from business credit. Should I wait to establish business credit? Maybe set up the LLC first even though it would be paid with personal funds? And what about my training classes, should I wait also or go ahead and purchase on a personal credit card, even though I would hate to do that? I may just pull money from my savings for that, don't know yet!

Another reason I wanted a business credit card is to us for advertising and marketing in my local area for my launch celebration. What should I do? Any advice will help.

Thank you in advance and may all of your days continue to be blessed.

[chuff1026]

ok
1st
wamu is not going ot give you a Biz LOC without a PG
2nd
there are only a few cash cards that u can without a pg(i should know, i build business credit for a living)
the ones that you can get will take you 3-8 months to get...depending on your method of building credit...

ok...u can pm me with any other questions

[chuff1026]

oh
you wont be able to get a Biz LOC without a pg to get your LLC and pay for your course because you need a Tax id and a Duns Number to get true Biz LOC's


even with a pg, without an llc, the LOC will not only pull your credit but will appear on your credit as well

[Qtip]

Originally Posted by chuff1026

ok
u can pm me with any other questions

Why not post the other questions here, for everyones benefit?

[chuff1026]

ok
post or pm
i just cant seem to subcribe to the post
so there isnt

[chuff1026]

damn
sorry
anyway
there isnt a guarantee that i will repond on time if i dont get the notoficatio

[chuff1026]

i am not getting notifications
thats the only problem

[Qtip]

Thread Tools on the top and subscribe will get you registered to the thread!

[Da-Kid]

OK, I know I will not be approved for a biz loc based off the information that I've been reading at this forum after I posted this thread. Thanks for all the info!

I then reread the promotional mailing that WaMu sent to me. It's a biz credit card with 0% fixed apr til 1/01/09. Up to $30,000 "credit line." Would it be a good idea to apply for such a card and start building a credit history with card holder? And... then start to processing of building credit with the "big boys" which I was informed that the process may take a few months. If I did this, couldn't I just upload/or update the positive payment history with WaMu and that somehow show up on my real credit profile with the big boys?

Another questions to my forum family, if I make a purchase with said biz credit card, do I have to pay off the balance per month or do I have the option to carry the balance like a consumer credit card?