Thanks to all that have come out in our defense. CreditWorks made a business decision to not fight the cease and desist order from PA. We do not sell securities, we are not a bank, we are not financial advisors. You lend us money, you will make 19.47%APR or 20% annually. They claimed we solicited residents of the state to participate in our program, when in fact, we got a call from someone asking us for information on the program and requested that we mail information. That is the only way we offer our program. We do not do mass mailings or advertising. The person we mailed the information happens to work for the state, that person has since contacted the state of New Jersey. We are a legal enterprise and have been making uninterrupted payments since May 1996. We have paid 88 loans for close to 1.5 million. www.creditsense.com
Any comparison between CreditWorks and Bill Bauer would not do justice to either one. BBauer has used aggressive marketing techniques in every encounter he's had on the board. Requests that he stops, resulted in never-ending flame wars. CreditWorks, OTOH, has been a contributing member for years. I'm looking forward to reading his future posts. Saar
I just wanted to post that WestCap called me the other day and made good on his offer to consult with me personally and also apologized for dropping the ball on contacting me.
Many people mention that PG's will be considered and such.. how much influence does this really have? Is it true that I will not be able to get credit for a business? I plan on setting up a legitimate import/export business and would rather use credit for the firm than front my own personal money because the turnaround is expected to be high for the products... Any ideas??
Just been doing a little more research on this topic and it looks like for credit purposes its better to buy a shelf corporation(sitting on the shelf collecting dust). You pay more, but it sounds like the credit comes faster. I've seen corps you can buy as old as 6 years.
That is not a bad idea, but the company being bought must have some positive history. CreditWorks was established with credit cards and was able to get credit within months. Very little cost for almost 100000 in credit. www.creditsense.com
yeah i've got a couple of llcs as well, but from what i've seen and read corps are another ballgame. A friend is in the leasing buisiness and the credit lines there reach to the millions. Still an aged corp is much better than a new one for many reasons(even if it was just sitting on a shelf).
Me and my bestest friend just started a small business, how hard is it to get credit for it? What is a good procedure to start?
Wait 6 months or so before applying. Make sure you have a bank account in the business name and show some activity. The bank can be a great source of credit for a legit business, some don't require a lot of documentation for lines of credits up to 50,000 or even 100,000. We found Advanta and Amex were willing to extend CreditWorks credit within a year of being in business. www.creditsense.com
What do the banks look for for LLC? Is there any difference in LLC, C Corp, etc. when applying for credit or all they all just considered 'companies' when getting credit?
I don't have a personal experience with a "C" corp, but both LLC and Sub S. have been treated well by AMEX and Advanta. www.creditsense.com
I guess i'm not quite understanding credit works. What you are saying is that you accept UN secured loans from people and pay the around 20%. And you use this money to day trade? I have a few concerns 1) Even though you have been in business for a few years what is to say bad times might not befall you and we are out our money? Now I understand there are always risks, but this seems like the equivalent to investing in junk bonds. 2) If I were to decide to give this a shot..( because you do sound like an honest fellow) you're saying that this would somehow improve my credit score? how is this? 3) How can you GUARANTEE a return? and isin't that illegal to do so? I mean you'd really have to be doing well in your own investing to pay the kind of returns you are touting? Now don't get me wrong I may be totally misunderstand what your business is about..and if so I apologize..but I though I would ask these questions. Thanks
No need to apologize. The fact is we have been paying 19.47% APR since May 1996. If you read the news or listen to it, you well know that the stock market has imploded since March 2000, yet we continue to make timely payments. We do not guarantee the loan, as you say, it is an unsecure loan, however, if we are ever late by 5 days with any installment, we will allow you to call the loan in and you will receive your full capital at that time, you keep whatever interest you have earned up to that point. The program will help your credit only if you borrow from your credit to invest and use the proceeds from CreditWorks installments to make you timely large payments. Best case scenario, you get a 0% offer for 11 months, you get to borrow the money and earn 19.47% APR with it and at the same time exercise your credit, a sure way to get another great offer and/or a line increase. Hope that answers your questions, but if you still have some, do not hesitate to e-mail us. BTW, it is like investing in a JUNK bond, but keep in mind that if you had lent us money back in 1996 and kept lending us the same amount every year, you would have easily more than double your principal. www.creditsense.com
Do any know onces you get a Business CC will other offers come, like when you get p[ersonal credit card other pre-approve offer come.
Yes. We are continuing to get offers. Exercise your credit, use patience and discipline. Borrow and make large payments, your reward will be higher limits and lower rates. It has worked for me and everyone that has used our methods. www.creditsense.com
Ok all of you guys have jumped off the topic here which is Bizz credit. So back to biZZneSS. Now lets say that you have a DNB Paydex score of 75 now what. I have been at this for some time and i have never seen and Bank Card (Visa. Mastercard, Amex) that does not require a personal gaurentee. If you guys are getting cards i would like to know what cards and what company are issuing these cards with no PG. Because that is the biggest hurdle. Any takers please clue me in
I am also interested in sharing information on business credit. I have been established since 1998. First as a sole proprietor - and just recently incorporated. Thus far, these are the business accounts I have obtained: Kinkos Staples Mail Boxes, Etc. AT&T Corporate Express Pitney Bowes Federal Express All of the above have been extremely helpful for my technology based business. However, I need a T&E card for travel and hotel expenses. I am going to apply for accounts directly with the hotel chains I use when I do business-related travel. There is often a 30-45 day offset period between billing and actual payment receipt. Several months ago, I applied for the Wells Fargo secured Visa - but my personal FICO did not meet their requirements.
I am also interested in sharing information on business credit. I have been established since 1998. First as a sole proprietor - and just recently incorporated. Thus far, these are the business accounts I have obtained without a PG: Kinkos Staples Mail Boxes, Etc. AT&T Corporate Express Pitney Bowes Federal Express All of the above have been extremely helpful for my technology based business. However, I need a T&E card for travel and hotel expenses. I am going to apply for accounts directly with the hotel chains I use when I do business-related travel. There is often a 30-45 day offset period between billing and actual payment receipt. Several months ago, I applied for the Wells Fargo secured Visa - but my personal FICO did not meet their requirements.
