Got a home business? If you do you probably receive business credit solicitations. Business credit is unique, in that you can obtain a vast amount, and none of which will appear on your personal credit report. This means each new creditor will not know your liabilities when evaluating you. You could therefore accumulate a potentially unlimited amount of business credit for use in any way you see fit, i.e. investing, etc. First: build a good personal credit profile, about 5 cards is good. Try to get about $50,000 in personal credit - this is your foundation. At this point, do not apply for any more personal credit - go for the business credit only. Business lines will be larger in general, so each inquiry will be well spent. Use inquiries sparingly, its best to wait until a solicitation comes, but that is not absolutely necessary. You can apply for up to 3 lines in one month, but then you should wait 60-90 days before you do it again. $CM$
RE: Multiply an Empire while H I agree with you completely. However every business card application I've ever seen asks for the applicants info. If you are applying as a corporation they ask for info of the officers and often times the officers or sole proprietor is on the hook for liablities.I checked out freebooter,didn't find to much there-so far.
RE: Multiply an Empire while H You are right. The way around that is to build a corporation that is big enough. I have not been able to do that just yet. CreditWorks has been able to build its own lines to close to $100,000 in less than 5 years. http://www.creditsense.com
No offense but your site sucks Really, no offence to you but your site looks very lame for a person that's raking in 100K. You may want to thing about paying an experienced web designer to build you a professional site because to tell you the truth, my 12 year old cousin makes better looking sites.
RE: Multiply an Empire while H Yes, they still pull your personal credit file. However, once you are approved for the account, it won't show up on your personal file as a liability. This means in theory, you could get for example, $50,000 from 10 different lenders over a period of time and none of them would know about the others. The freebooter site is mostly an anti- big brother/ offshore banking site. It was the only one I could think of at the time with "unconventional" information. $CM$
RE: Multiply an Empire while H I see your point, it won't show up on your personal file as a liability, but you will be personally liable for the debt. I don't follow you on the 10 diff applications-unless you apply over a period of time your 10 different applications would be blown off as too many inquires or apps in the companies name, right? Any other sites you can recommend? Thanks Skip
RE: Multiply an Empire while H Right, each one is still an inquiry so you have to do it over time. The advantage though, is that business credit cards and lines tend to be much higher than if you applied for a personal card. So it is a more efficient use of an inquiry at least. www.bankrate.com is a good site for general information. I think they may have some credit repair info too. www.moneyclub.com is another interesting site. $CM$
