Here is what you needed to get done before you start adding
Tier 2 – Net 30 Accounts.
1. Completed the 20 Points Compliance Checklist
2. Have at least FIVE Tier 1 – Net 30 Accounts showing on your Business Credit Profile. If you do not have 5 to 7 Tier 1 – Net 30 accounts reporting on your business credit profile, chances are you may be DENIED for Tier 2 – Net 30 Accounts and may have to Personal Guarantee the credit line if approved. I TOLD YOU SO!
3. After the Tier 1 – Net 30 Accounts have showed up on your Business Credit Profile, you have opened a Business Bank Account with a Major Bank like Bank of America or Chase Bank. These banks may offer you a Business Credit Card if YOU HAVE GREAT personal credit. ONLY apply if your PERSONAL CREDIT IS GREAT. Your projected annual sales when applying for the Business Credit Card, should be above $500,000 to get the best approvals.
REMEMBER:
When you open the business bank account with the major bank, Bank of America or Chase, they might have offered you or will offer you a business credit card. Please ONLY apply for the business credit card if you have great credit. ( You have about 5 accounts reporting to your personal credit atht is 2+ years old and in great standing and NO Negatives on your file ). For Businesses that have a projected Business Revenues over $550,000, will get high approval.
NUMBER OF TIER 2 – NET 30 ACCOUNTS NEEDED ON YOUR BUSINESS CREDIT PROFILE:
We suggest that you apply to 10 of the Vendors listed below!. Please follow the instructions and you will achieve your goals.