If you want more business credit plays go grab The Ultimate Business Credit Playbook now FOR THE LOW! ⬇️ www.ralphmeansbiz.com/offers/Sf57GNnA/checkout
My business is Transportation LLC, I got the LLC, Navy Fed Business Account both savings and checking, then business credit card of $20,000 in less than 3 weeks. The process was very smooth. This video is very informative
I’ve watched hours and hours of people repeating the same things to start an llc until this video. This has been the most informative video and advice I’ve found so far! Props to this Chanel they certainly deserved my subscription 🤙
Sadly I waited too long to apply from when I started my LLC. I did get approved for $9000. If I would have applied within 90 days of starting my LLC, I may have received a higher limit. I’m happy I have the $9000 in business credit with NFCU!
Yup, you know how it get back home smh. Just continue to stay locked in on what you consume & surround yourself with people who actually motivate you! 🫡💯
I’m halfway through your video and I gotta Thank you for this content. I just started my business and I haven’t done many these steps.. Thank you! I needed some guidance and this is soo helpful! Right on time too… Divine timing ✨
Wow! Thank you so much for this comment Kadesha. I'm glad you are able to get value from the content & I appreciate you watching. Make sure you take notes then take action! God's plan 🫡💰
Born and "partially" raised in Philly! We moved around a lot! lol! The struggle was real! I am in trucking (logistics) and working my way into real estate! I "accidentally" fell into real estate! Keep up the good work!! Love that you are chilling in Bali! That will be my first travel destination as soon as my son graduates HS next year!😊
I suggest doing the prequal tool when looking to apply for cards. I have a mid 700 score and was only prequal for secured when I first joined. I have a 100k in credit so there was no way I was accepting a secured card. Waited 3mths, prequal again, eligible for all cards. Applied for cash rewards and approved. Waited 3 more mths and snagged flagship. Currently have a total of CL of 57k between the 2. I do have a biz acct but havent applied for biz credit yet.
Nice. The pre-qualification tool is definitely useful. Even though I used it & I wasn’t prequalified for the AMEX card, but I applied for it anyway & still got it. Now it’s time to run that business credit play now Bag Chaser! 🫡💰
Thank you for really taking the time and listing the steps in a very detailed way not just going through some ideals but actual actionable steps very thankful
I have the regular checking and savings account then I applied online for the business account. It was kind of time consuming but they encouraged me themselves to keep on filling out the business account. I couldn’t believe how helpful they were to me.
I'm an Eagles fan and when you mentioned Philly I locked in immediately! Anyways this play worked for me with an Experian score 690, approved for 9k! Took 3 days to approve me!
I started with Navy at the start of the year and set up checking and savings direct deposit while working on my credit profile at the same time. Applied for a credit card a month after after being denied for personal loan and was approved for over 10k. Recently applied for the business checking and it took about 15-20 minutes with all the questions. BTW the $250 allows you to open both checking and savings. I just came across this video and it’s definitely on point.
They don’t have this application anymore for credit cards. Now it’s a new pre-filled application. You don’t decide if you’re going to get a MasterCard or Visa anymore. You also can’t ask for the credit limit that you want. I just submitted mine today and it was just a credit card form through the portal signing into the business account.
@@Ralphmeansbiz Thanks! This video was my prep video to apply for the card. Now I wish I applied sooner, but I feel pretty good about it because my internal score is pretty good and my Experian is good. I hope you end up doing a update video. I was coming through trying to find new videos recently. I’m also hoping to see more videos on PenFed. So far those are my only two credit unions.
I appreciate this cannon foreal! I’m from Philly too and you know how the crab in the barrel mentality works here. Thank you for dropping these gems instead of holding on to them.
Appreciate you my guy! Yessir, you know how it get smh. That's why I try to give back as much as possible b/c I know it can really change our lives. Man, we was never taught this, but know it's 🆙
@@Ralphmeansbiz I definitely will! I’m from Cali bro just made my business LLC trying to tap into the real estate game. Done with just the 9-5 as an EMT I’m working on using OPM!
Thanks for checking out the channel Aretha! Once you complete the steps in this video & your personal credit in a good spot, I would give it a shot! 🫡💰
So I have an LLC and its a partnership partner has good credit and consistent history with navy fed me on the other hand bad credit and dont really use my navy fed account
It’s a personal guarantee, so the most important factor is really your personal credit profile. Just work on getting that corrected & you’ll be golden! 🫡💯
Good information for me! Glad I subscribed to your channel. Question? I received a DBA way before even thought about an LLC. I received my LLC recently. Would you happen to know if I can attach that DBA to my newly acquired LLC?
I’m glad you were able to get value from the content, thanks for watching! When you create your LLC with your state it should have a section where it asks if you have any DBA’s associated with such LLC.
Im back :) I applied for NF Bus Acct... they denied me at first bc I mentioned fin consulting and got tricked up. I got another email saying to call so I did. I told them Bus Consulting this time. I got approved... Is this something that is going to bite me later on? I do personal finance coaching/consulting and just started credit repair?...
Yes, you have to be careful with Hugh risk industries especially with Navy Fed. Glad you were able to get in. Coaching & consulting are very similar when it comes to types of businesses. Check out my video on NAICS codes & high risk industries for a little more insight!
Thanks for watching! Check out my recent video where I discuss how to navigate NAICS code in a high-risk report here: ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Messed up on that sic code and naics code when starting one’s that’s amended do I have to contact duns& Brad and business EXPerian to change your industry type info as well or those it change when you contact the Secretary of State
I haven’t had any luck changing them on their websites directly yet. I updated it with my Secretary of State & make sure to use the new number on my taxes & any new relationships I build.
I got my company setup with Transportation but i later added Consulting & Marketing a safer NAICS Code. But great knowledge you're delivering & I do have a Semi Truck, BLOC & a Cargo Van in my Business Name. God is real & im working on change my business Email Address, Mailing Address 🙏🏽💯💙👑.
@@Ralphmeansbiz Fasho bro & I'm subscribing right now. Personal credit over 800 & my business paydex score is 80. It's that time for business funding but it wasn't easy bro. God & great ppl like yourself putting out "Game Changing Knowledge"! I had to invest in myself & pay to make things happen. One question do Truist look into Chexsystem or Early Warning Systems bro? Thanks again My Guy🙏🏽💯💪🏾💙👑.
I am so glad I stumbled across your video. I have had loans, cars and accounts as well as the business accounts with NF. I just need the address, website, phone number and D&B number. I have business cards with AMEX but I need a loan to get my building.
my questions is! where do I download the application from? I didn't see the option to download the application form after I signed in with the secured link
I have a cc, personal checking and savings account with NFCU. I have a business checking account with Chase. Can I just apply for a business cc with NFCU without opening up a business checking account? My personal credit score is 813
The Legal Trap. Lol you can take the man out the hood, but you can't take the hood out the man. Nice video. Thank you for taking the time to drop these gems to us.
I have a personal care home and I used the address of the personal care home I live in the home with my residents do I still need to have a different business address? I do have a home in a different state I inherited the home I utilize as my personal care home.
If you have an actual physical address for your business that you use, then that is your address. The question is how comfortable you feel with your business mail & documents going there..
I don’t feel comfortable putting what other business credit cards I have that have balances. If I put “none” would be fond out? I have two ELAN cards that have a high balance from a play I made this summer. Should we put none?
Yo. I have 5 products from navy federal. Personal checking/savings, auto loan, & business checking/savings account. I’ve been a member for 6 years on the personal side. I also deposited 10K in bulk to my business account when I opened the account 6 months ago. I also started working and had direct deposits coming in, wires from my business, & cash deposits off $200-$500+ every 2 weeks. I have 2 hard inquires from about a year or two. One falls off in may and I have a 683 credit score, it’ll probably be 700+ later this month, just have to knock down my utilization some more. And I do have one voluntary repo that’s been settled and paid in full years ago. Do you think I have good odds of being approved?
That’s a good relationship & a decent score. I can’t tell you if they’re going to approve you though, I don’t make the decision. Get to that 700 & give it a shot 💯
I heard you speak on "high risk" businesses such as car rentals. When your are speaking with banks and they ask what do you do.... what do you say if you don't tell them you are doing turo or real estate?
Some people with trucking businesses in the comments have got denied for it, others have gotten approved. Seems like it depends who you get on the phone.
To file for an LLC through my state and requesting and EIN through IRS - Don't you have to accurately describe you business activities?? What is an example of how a creative way to describe my business activities which are renting vehicles out via Turo that is accurate but doesn't trigger being viewed as high risk?
you are most definitely not by yourself I am at this point now I am a truck driver and Im trying to create multiple streams of income I just don't know what to do I have had a business account and regular account with navy fed for the last 4years and I can't seem to get anything from them
what do you recommend as far as business wise to tell them my company doesn't have trucking it the name however it does states transportation would that red flag me
I spoke to a few different examples in the video. You can also check out this video if you want more info on navigating high risk industries -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
It must have been meant for me to come across your channel. I definitely have all the data points in place that you gave. Just paid all of my credit cards off to bring utilization down waiting on bureaus to update that hopefully this will bring scores up. Been paying the secured card of in full every month for the last six months waiting on it to graduate hopefully that’s soon. Just opened the biz savings and checking 3wks ago but my scores are stuck exp 578,eqfx 589,TU 548 sorry so lengthy any pointers
Sounds like you’re on the right track Phyllis! Get that utilization down, build your history with the secured & starter cards (maybe a trade line), build the relationships with banks while structuring your business entity appropriately. Once you get to that 700 it’s all about taking advantages of the relationships you buoy & start applying for the right cards to fund your investments! Stay locked in 🫡💯
I have 5net30’s tier 1 accounts working the tire 2 accounts ima stay locked in I like how your breaking things down so we can get a clear understanding and ima keep you posted on my outcome. Ima go check some of your other sessions
Nah. Creating your own LLC is super easy & takes like 30 minutes. Here’s the link to the “Do-It-Yourself” LLC Guide so you can have the knowledge/skill of creating your own business entity forever! -> www.ralphmeansbiz.com/offers/jLyPhCFV/checkout
Have I missed something? It’s always been known that you have to be in the military past it present or have a direct family member who is or was to join navy federal. I looked on the site and it stair says this. How are you all getting around that?
They don’t ask for NAICS code, they ask what kind of business you have. If you don’t understand yours, check this video out where I explain it -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Hey Chris, as mentioned in the video Navy Fed will not do business with car rental businesses. Check out this video where I explain what other options you can use: ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
@@Ralphmeansbiz Thanks man! I appreciate all the gems! Ive watched most of your vids. I know that one goes over Nacs codes. Which is another dope gem. I was wondering specifically when designing my website landing page if i should include car rental on the homepage.
My guy! Use what I go over in that video for your approach when you talk to Navy Fed directly then. & when it comes to the website if it’s just for the biz credit I wouldn’t include it. If you’re too worried, you can still get approved without a website if you have decent credit.
Currently amending my LLC so that I can pull the trigger and apply for a business account with Navy Fed. Currently have both personal checking and savings account. Considering filing for a low amount pledge loan. My question to you is I operate as a motivational speaker and life coach. I have my own UA-cam channel, as well as book clients. Do you think they’ll fund me with a business credit card
Thanks for watching. It’s impossible for me to tell you if they’ll fund you or not. But if your personal credit is over 680 & you want business credit, I would follow the steps I outlined in this video & give it a shot! 🫡💰
I have a Navy Fed account I have credit card saving and checking I'm in the transportation I just did an LLC but I put Logistics on my LLC do you think I should change that or go with it and see what type of limit I'll get on a business credit card
Hey! Question, I have a $5k pledge loan (90% paid off), business ba, personal ba, DD, certificates, and one Plati cc (low line), Experian score is 592, think I can get approved?
Hey so I have a navy fed account that I just opened about 3-4 months ago and I deposited a good amount of money in my savings and I have 680 credit score would you suggest I get a personal credit card first or could I go ahead and get the business account and apply for business credit?
Hey, good question. Since you’re still building your credit profile, I would suggest getting a personal credit card first. You’d probably get a decent limit + build the relationship stronger.
@@Ralphmeansbiz Omg thank you for answering my question!! And ok so about how long after having my personality credit card could I then get the business account and business credit?
I would like to know if car sales is considered a high risk business, which would prevent getting the credit card or loan from Navy Federal Credit Union ?
If you want more business credit plays go grab The Ultimate Business Credit Playbook now FOR THE LOW! ⬇️
www.ralphmeansbiz.com/offers/Sf57GNnA/checkout
My business is Transportation LLC, I got the LLC, Navy Fed Business Account both savings and checking, then business credit card of $20,000 in less than 3 weeks. The process was very smooth. This video is very informative
Let’s gooo man! I really love when I hear things like this. S/O to you for running the play to the tee! 🫡💯
They denied me even having a business account 🤷🏾♂️ They said my transportation business wasn’t an eligible business for them
What was the requirements
Watch the whole video, I explain it.
what is you naics code for your transportation biz?
I’ve watched hours and hours of people repeating the same things to start an llc until this video. This has been the most informative video and advice I’ve found so far! Props to this Chanel they certainly deserved my subscription 🤙
Thank you so much Kyle! I appreciate you watching & leaving such a thoughtful comment. Time to run it 🆙💯
Sadly I waited too long to apply from when I started my LLC. I did get approved for $9000. If I would have applied within 90 days of starting my LLC, I may have received a higher limit. I’m happy I have the $9000 in business credit with NFCU!
Bro $9k is great & definitely something to start with. Use it & pay off the balance appropriately & request an increase in 90 days 📈
I’m from Philly too, so hard to find genuine support. Everyone’s in competition. Thank you for this
Yup, you know how it get back home smh. Just continue to stay locked in on what you consume & surround yourself with people who actually motivate you! 🫡💯
Philly Philly 💪🏾💪🏾💪🏾
I’m halfway through your video and I gotta Thank you for this content. I just started my business and I haven’t done many these steps.. Thank you! I needed some guidance and this is soo helpful! Right on time too… Divine timing ✨
Wow! Thank you so much for this comment Kadesha. I'm glad you are able to get value from the content & I appreciate you watching. Make sure you take notes then take action! God's plan 🫡💰
Literally the Best information about business credit strategies & structuring. Thanks. I subbed.
Thank you Deborah! Time to run it 🆙💯
The boy dropping game right in your face The entire video. His backdrop is a massive gem. Vacation Paid write off.
Haha, love this comment! Just trying to show what's possible & give them the playbook. Glad you enjoyed it & thank you for tapping in! 🫡
@@Ralphmeansbiz Fasho My brotha. I know what's up lol
Born and "partially" raised in Philly! We moved around a lot! lol! The struggle was real!
I am in trucking (logistics) and working my way into real estate!
I "accidentally" fell into real estate!
Keep up the good work!! Love that you are chilling in Bali! That will be my first travel destination
as soon as my son graduates HS next year!😊
Thank you so much for watching Tai! Yes, it was amazing. Thank you for being here as well Bag Chaser 🫡💰
I suggest doing the prequal tool when looking to apply for cards. I have a mid 700 score and was only prequal for secured when I first joined. I have a 100k in credit so there was no way I was accepting a secured card. Waited 3mths, prequal again, eligible for all cards. Applied for cash rewards and approved. Waited 3 more mths and snagged flagship. Currently have a total of CL of 57k between the 2. I do have a biz acct but havent applied for biz credit yet.
Nice. The pre-qualification tool is definitely useful. Even though I used it & I wasn’t prequalified for the AMEX card, but I applied for it anyway & still got it.
Now it’s time to run that business credit play now Bag Chaser! 🫡💰
Wow
Thanks, I really like how you took the time to explain the process. I'm on it.
You’re welcome. Thank you for watching Bag Chaser! 🫡💰
Thank you for really taking the time and listing the steps in a very detailed way not just going through some ideals but actual actionable steps very thankful
Thank you for watching. I’m glad the information was valuable for you 🙏🏽💯
I have the regular checking and savings account then I applied online for the business account. It was kind of time consuming but they encouraged me themselves to keep on filling out the business account. I couldn’t believe how helpful they were to me.
Love to hear it! Congrats fam 💯
Glad I watched this I just filed my LLC as Zag Rentals LLC so I’ll file an amendment before I file for the EIN I paid for a virtual office
Yup, you got it! A lot of banks & lenders won’t work with short-term rental companies with that in their name.
I'm an Eagles fan and when you mentioned Philly I locked in immediately! Anyways this play worked for me with an Experian score 690, approved for 9k! Took 3 days to approve me!
Let’s gooo my guy! I appreciate you watching & congrats on successfully running the play 🔥 GOOO BIRDSSS! 🦅🦅
Philly bull 🐂 checking in. Good videos bro bro.
Yark brodie! I appreciate you tapping in gang 🫡💯
I started with Navy at the start of the year and set up checking and savings direct deposit while working on my credit profile at the same time. Applied for a credit card a month after after being denied for personal loan and was approved for over 10k. Recently applied for the business checking and it took about 15-20 minutes with all the questions. BTW the $250 allows you to open both checking and savings.
I just came across this video and it’s definitely on point.
This is so awesome! Love to hear you taking every step to get this funding. Keep going, it’s only 🆙 from here! 💯
LLC, personal check/save/cc, & business acct done w/1K deposit. Now it’s time for that business cc!
Let’s get it Jay! You’re definitely following the blueprint, complete the play! 🫡💰
Congratulations on all your success. Awesome step by step video. Hope you enjoyed Bali
Thank you & I appreciate you watching! Yes, Bali was amazing ✨
Yoooo thank you for this content.. you inspire me with your videos, 💯💯💯
Thank you so much for tuning in my guy! I do it for my dawgs! 🫡💯
You are not alone!❤
Thank you! & same. We going to make it happen tho, we got this! 🫶🏽💯
my credit score is 515 low as hell but am building it back,just start a clothing buisness so hope each help each one
You got this fam! 💪🏾💯
They don’t have this application anymore for credit cards. Now it’s a new pre-filled application. You don’t decide if you’re going to get a MasterCard or Visa anymore. You also can’t ask for the credit limit that you want. I just submitted mine today and it was just a credit card form through the portal signing into the business account.
Nice updates. Good luck! 👍
@@Ralphmeansbiz Thanks! This video was my prep video to apply for the card. Now I wish I applied sooner, but I feel pretty good about it because my internal score is pretty good and my Experian is good. I hope you end up doing a update video. I was coming through trying to find new videos recently. I’m also hoping to see more videos on PenFed. So far those are my only two credit unions.
I just applied too. There are 2 different applications one for Visa one Mastercard. But I did not get to ask for how much I wanted. Good luck🤞🏾
I appreciate this cannon foreal! I’m from Philly too and you know how the crab in the barrel mentality works here. Thank you for dropping these gems instead of holding on to them.
Appreciate you my guy! Yessir, you know how it get smh. That's why I try to give back as much as possible b/c I know it can really change our lives. Man, we was never taught this, but know it's 🆙
Yessir I was waiting for this to drop! Thank you my guy I’m definitely following this bag!
There’s my guy!! Aye bro take this blueprint & go get that business credit bag asap and KEEP ME UPDATED! 🫡💯
@@Ralphmeansbiz I definitely will! I’m from Cali bro just made my business LLC trying to tap into the real estate game. Done with just the 9-5 as an EMT I’m working on using OPM!
Man I subbed to much GAME!!
My guy! I appreciate you 🫡💯
And you might wanna apply for a nav account and get at least 5 trade lines
Definitely can’t hurt. Especially if you don’t have the best personal credit. Thanks for watching & adding some extra insight! 🫡💯
You are so right go to work every day to live paycheck to paycheck is killing me man
It’s frustrating fam, but there is a path to change! Stay locked in & take action on this content & you the change will come 🫡💰
I got my new business account with navy, haven’t pulled the trigger to apply for cc as of yet.
Thanks for checking out the channel Aretha! Once you complete the steps in this video & your personal credit in a good spot, I would give it a shot! 🫡💰
So I have an LLC and its a partnership partner has good credit and consistent history with navy fed me on the other hand bad credit and dont really use my navy fed account
It’s a personal guarantee, so the most important factor is really your personal credit profile. Just work on getting that corrected & you’ll be golden! 🫡💯
Good information for me! Glad I subscribed to your channel. Question? I received a DBA way before even thought about an LLC. I received my LLC recently. Would you happen to know if I can attach that DBA to my newly acquired LLC?
I’m glad you were able to get value from the content, thanks for watching! When you create your LLC with your state it should have a section where it asks if you have any DBA’s associated with such LLC.
Im back :) I applied for NF Bus Acct... they denied me at first bc I mentioned fin consulting and got tricked up. I got another email saying to call so I did. I told them Bus Consulting this time. I got approved... Is this something that is going to bite me later on? I do personal finance coaching/consulting and just started credit repair?...
Yes, you have to be careful with Hugh risk industries especially with Navy Fed. Glad you were able to get in. Coaching & consulting are very similar when it comes to types of businesses. Check out my video on NAICS codes & high risk industries for a little more insight!
Definitely working on this now!
You got this Briana! Just stay oocked in & run the play as I described 🫡💯
Yes sir. I know exactly that feeling.
Yessir! But now it’s time to make a change 🫡💯
Thank you for this!! 😅 now time to file an amendment to get some things straight
Subscribed! 💪🏾
Thank you for watching! Yup, get that thing structured properly & run the play Bag Chaser! 🫡💰
You are God send. Thank you
Thank you for watching. Glad I was able to help on your journey ✨💯
I have a 700s in transunion also from philly i just have a thin file what do i do
Thanks for watching! Run the play bro! 🫡💰
I'm in a high risk business- land investing. How do i get an account if they'll question me and realize my naics code isnt all the way accurate?
Thanks for watching! Check out my recent video where I discuss how to navigate NAICS code in a high-risk report here:
ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Excellent 😊
Thank you for watching!
So much great information
Thank you! Appreciate you watching Bag Chaser! 🫡💰
Messed up on that sic code and naics code when starting one’s that’s amended do I have to contact duns& Brad and business EXPerian to change your industry type info as well or those it change when you contact the Secretary of State
I haven’t had any luck changing them on their websites directly yet. I updated it with my Secretary of State & make sure to use the new number on my taxes & any new relationships I build.
I got my company setup with Transportation but i later added Consulting & Marketing a safer NAICS Code. But great knowledge you're delivering & I do have a Semi Truck, BLOC & a Cargo Van in my Business Name. God is real & im working on change my business Email Address, Mailing Address 🙏🏽💯💙👑.
I love to hear it bro, you definitely on the right track! Thank you for watching 🫡💯
@@Ralphmeansbiz Fasho bro & I'm subscribing right now. Personal credit over 800 & my business paydex score is 80. It's that time for business funding but it wasn't easy bro. God & great ppl like yourself putting out "Game Changing Knowledge"! I had to invest in myself & pay to make things happen. One question do Truist look into Chexsystem or Early Warning Systems bro? Thanks again My Guy🙏🏽💯💪🏾💙👑.
@@Ralphmeansbiz Fasho bro thanks! Keep bringing the 🔥🔥
Truist does use the Chex system if you may owe other related banks.
@@Ralphmeansbiz Thanks again bro & Chexsystem is clean🙏🏽💯👑
I am so glad I stumbled across your video. I have had loans, cars and accounts as well as the business accounts with NF. I just need the address, website, phone number and D&B number. I have business cards with AMEX but I need a loan to get my building.
Thank you for being here fam, I'm glad the video was helpful! Yes, once you finish structuring your business give the business credit card a shot! 💯
Also many federal agencies make you eligible for a Navy Fed account.
That part‼️Great insight Monita 🔥
my questions is! where do I download the application from? I didn't see the option to download the application form after I signed in with the secured link
Not sure the exact spot, just Google it or give them a call. They’ll walk you right through it! 👍
Is the pg an inquiry on your personal credit?
Yup, exactly! 👍
Thank you brother
Anytime my guy! Appreciate tuning in 🫡💯
So how do you change the business address?
Do an amendment with your Secretary of State & notify the IRS.
I have a cc, personal checking and savings account with NFCU. I have a business checking account with Chase. Can I just apply for a business cc with NFCU without opening up a business checking account? My personal credit score is 813
Yes, I believe you need the business checking account with them to get the credit card. It’s really simple though, you should be good! 🫡💯
@@RalphmeansbizThanks!
716 to be exact never had a credit card need help
I think your good to apply as long as you have a legitimate LLC
@kxraw Tap in with me on a 1:1 fam 🫡
The Legal Trap. Lol you can take the man out the hood, but you can't take the hood out the man. Nice video. Thank you for taking the time to drop these gems to us.
🫡💯💯 & thank you for being here Bag Chaser!!
I have a personal care home and I used the address of the personal care home I live in the home with my residents do I still need to have a different business address? I do have a home in a different state I inherited the home I utilize as my personal care home.
If you have an actual physical address for your business that you use, then that is your address.
The question is how comfortable you feel with your business mail & documents going there..
Thank you for all the useful information! I recently formed my LLC would you consider a travel agency a high risk?
You’re welcome & thanks for tuning in! I haven’t heard of travel agencies getting flagged for high risk in my experience.
I don’t feel comfortable putting what other business credit cards I have that have balances. If I put “none” would be fond out? I have two ELAN cards that have a high balance from a play I made this summer. Should we put none?
I can’t suggest you lie on the application bro. Tbh if they really want to know they’d find out anyway 🤷🏽♂️
I applied last week for the Mastercard credit card. I received an email saying I need to show documentation, including tax returns, profit and losses.
What’s your personal credit score?
I have biz account but was denied for biz card?
Check the other datapoints that were mentioned.
What llc did you open is it single member llc or partnership ll
I promise you that will not be the reason you get approved or denied business credit. Choose the option that aligns with your situation fam 💯
@Ralphmeansbiz thank you
Yo. I have 5 products from navy federal. Personal checking/savings, auto loan, & business checking/savings account. I’ve been a member for 6 years on the personal side. I also deposited 10K in bulk to my business account when I opened the account 6 months ago.
I also started working and had direct deposits coming in, wires from my business, & cash deposits off $200-$500+ every 2 weeks. I have 2 hard inquires from about a year or two. One falls off in may and I have a 683 credit score, it’ll probably be 700+ later this month, just have to knock down my utilization some more. And I do have one voluntary repo that’s been settled and paid in full years ago.
Do you think I have good odds of being approved?
That’s a good relationship & a decent score. I can’t tell you if they’re going to approve you though, I don’t make the decision. Get to that 700 & give it a shot 💯
I heard you speak on "high risk" businesses such as car rentals. When your are speaking with banks and they ask what do you do.... what do you say if you don't tell them you are doing turo or real estate?
Watch this video, I go into detail about that exact topic! -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
If we go thru the process of changing name do you still have same start date of business when we first started it
Yes 👍
So what kind of business do they except
All of then that are not considered high-risk.
Quick question so I’m trying to open business for trucking so you saying I won’t get approve on my navy fed account? Because it’s consider high risk
Some people with trucking businesses in the comments have got denied for it, others have gotten approved. Seems like it depends who you get on the phone.
@@Ralphmeansbiz ok thanks
To file for an LLC through my state and requesting and EIN through IRS - Don't you have to accurately describe you business activities?? What is an example of how a creative way to describe my business activities which are renting vehicles out via Turo that is accurate but doesn't trigger being viewed as high risk?
Thanks for watching. Check out this video next where I answer that exact question! -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
What description do I put on my website if I’m in a high risk business after I change my name and NAICS? I run a travel agency. Is that high risk?
I made an entire video breaking down your options here:
ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Shorti at 14:13
Ayo 😭 focus bro lol
What about a private mailbox for a business address
I’m sure what a private mailbox is? The most important part is the type of structure/building the address is at hard to.
you are most definitely not by yourself I am at this point now I am a truck driver and Im trying to create multiple streams of income I just don't know what to do I have had a business account and regular account with navy fed for the last 4years and I can't seem to get anything from them
Where there’s a will there’s a way! Just gotta follow the blueprint. Tap in with me 💯
what do you recommend as far as business wise to tell them my company doesn't have trucking it the name however it does states transportation would that red flag me
@rachelking8891 watch this -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
So what other names could you change your name to in place of trucking/transporation?
I spoke to a few different examples in the video. You can also check out this video if you want more info on navigating high risk industries -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Respect….. Notwithstanding…….the woman are thick in this video
Visuals 😂
Hi… when applying for the checking account with navy fed, if I’m in a high risk category (rental) what do I tell them my company does?
I’m not gonna tell you to lie lol. Maybe consider starting a different LLC if you need funding first.
Can you use stated income for your business credit card
Yes
It must have been meant for me to come across your channel. I definitely have all the data points in place that you gave. Just paid all of my credit cards off to bring utilization down waiting on bureaus to update that hopefully this will bring scores up. Been paying the secured card of in full every month for the last six months waiting on it to graduate hopefully that’s soon. Just opened the biz savings and checking 3wks ago but my scores are stuck exp 578,eqfx 589,TU 548 sorry so lengthy any pointers
Sounds like you’re on the right track Phyllis! Get that utilization down, build your history with the secured & starter cards (maybe a trade line), build the relationships with banks while structuring your business entity appropriately.
Once you get to that 700 it’s all about taking advantages of the relationships you buoy & start applying for the right cards to fund your investments! Stay locked in 🫡💯
I have 5net30’s tier 1 accounts working the tire 2 accounts ima stay locked in I like how your breaking things down so we can get a clear understanding and ima keep you posted on my outcome. Ima go check some of your other sessions
actual update from 7 days ago exp scores 620, eqfax scores 600, tu 575 so what's next should i be running the play or wait
Have you used Taylor Brands before? If so, what feedback do you have?
Nah. Creating your own LLC is super easy & takes like 30 minutes.
Here’s the link to the “Do-It-Yourself” LLC Guide so you can have the knowledge/skill of creating your own business entity forever!
-> www.ralphmeansbiz.com/offers/jLyPhCFV/checkout
Have I missed something? It’s always been known that you have to be in the military past it present or have a direct family member who is or was to join navy federal.
I looked on the site and it stair says this. How are you all getting around that?
Who is you all? & my grandfather was military. You worrying about the wrong things.
What about a consulting business as being high risk?
Even though banks are becoming more weary of business consulting I don’t think it is considered high risk just yet.
How soon after you opened the account before you applied for the biz card
I started the process immediately after.
@@Ralphmeansbiz 🙏🏾🙏🏾🙏🏾
@@Ralphmeansbiz Thanks bro!! which NAICS code did you use ?
They don’t ask for NAICS code, they ask what kind of business you have. If you don’t understand yours, check this video out where I explain it -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Hey when setting up my website should I put car rental services? Or will that get me denied when applying for credit? How should I design the website?
Hey Chris, as mentioned in the video Navy Fed will not do business with car rental businesses. Check out this video where I explain what other options you can use: ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
@@Ralphmeansbiz Thanks man! I appreciate all the gems! Ive watched most of your vids. I know that one goes over Nacs codes. Which is another dope gem. I was wondering specifically when designing my website landing page if i should include car rental on the homepage.
My guy! Use what I go over in that video for your approach when you talk to Navy Fed directly then. & when it comes to the website if it’s just for the biz credit I wouldn’t include it. If you’re too worried, you can still get approved without a website if you have decent credit.
Ok thanks! I really appreciate your content 🙏🏿💯💯💪🏿
@chrisjonesofficialmusic7032 & I appreciate you being here & taking action on it brodie! More to come 🫡💯
So many Gems
Thank you so much Brandy! Glad you were able to get some value from the content 🫡💰
Currently amending my LLC so that I can pull the trigger and apply for a business account with Navy Fed. Currently have both personal checking and savings account. Considering filing for a low amount pledge loan. My question to you is I operate as a motivational speaker and life coach. I have my own UA-cam channel, as well as book clients. Do you think they’ll fund me with a business credit card
Thanks for watching. It’s impossible for me to tell you if they’ll fund you or not. But if your personal credit is over 680 & you want business credit, I would follow the steps I outlined in this video & give it a shot! 🫡💰
I would go for mentioning UA-cam only and see where that goes. Heard of approvals for UA-camrs
Can u only open a biz account with navy fed if it’s non profit?
Not sure. Just give them a quick call to ask 💯
THANK YOU SO MUCH.
Of course! Thank you for watching Bag Chaser hope it helps! 🙌🏽
Let me know how it goes for you when you run the play! 🫡💯
What is a good NAICS code for rental cars?
Check out this video where I go into detail about some options you might have for that! -> ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
how long does the underwriting procedure take ??? And I'm look at the status of my application it and shows a APR of 14.40%
My application is at 53%
A few days. Good luck fam! 💯
@@Ralphmeansbiz thank you bro 👊🏾
I have a Navy Fed account I have credit card saving and checking I'm in the transportation I just did an LLC but I put Logistics on my LLC do you think I should change that or go with it and see what type of limit I'll get on a business credit card
Logistics isn’t an instant denial. Depends how well you can explain it to the rep & if you want to start the process over.
Shuld i redo it im just trying to do this right
That’s up to you bro. Logistics isn’t a guaranteed denial long as you have a good explanation of your business.
May you recommend reputable credit repair/restoration companies?
I rock with the team over at Takeoff Financial! You can check them out here -> tinyurl.com/bdeafv83
Hey! Question, I have a $5k pledge loan (90% paid off), business ba, personal ba, DD, certificates, and one Plati cc (low line), Experian score is 592, think I can get approved?
Nah bro, get that score up to like a 680 first 💯
Is e-commerce high risk?
Not that I’ve seen yet.
what kind of business enitiy name is best to us
Watch this video where I answer that question ➡️ ua-cam.com/video/LrwvVZ5L-r0/v-deo.html
Can I use my ACU- American Credit Union bank
I’m not familiar with that institution. Do the research and see if they have the same type of products.
Hey so I have a navy fed account that I just opened about 3-4 months ago and I deposited a good amount of money in my savings and I have 680 credit score would you suggest I get a personal credit card first or could I go ahead and get the business account and apply for business credit?
Hey, good question. Since you’re still building your credit profile, I would suggest getting a personal credit card first. You’d probably get a decent limit + build the relationship stronger.
@@Ralphmeansbiz Omg thank you for answering my question!! And ok so about how long after having my personality credit card could I then get the business account and business credit?
Im from chester of course im locked in
Let’s get it! 🫡💯
@@Ralphmeansbiz I sent you a dm on ig and Facebook
Bro what source did you use to create that virtual background?
It’s called reality.
@@Ralphmeansbiz Right... A virtual reality. Thanks
Why you mad that I was in Bali tho? Weird energy 😭
He’s in Bali lol
Does Navy Fed charge a monthly fee for a business account?
Not that I know of.
Is landscaping considered a high risk business?
I don’t think a landscaping business would be flagged as high-risk & should be able to get funding 👍
Thank you
Nah, thank you! Let’s run it 🆙
I do websites as well
🔥🔥
I would like to know if car sales is considered a high risk business, which would prevent getting the credit card or loan from Navy Federal Credit Union ?
Yep, they have a list online
Yeah, most likely. A lot of industries to do with the car market are high-risk because the market is can be so volatile.
How to become Navy Credit Union member?
Family member or friend with access code referral.
Very important info at 14:25 guys!
Ayoo 😭😭😭😭
bro i dont know anyone with navy fed, or in the military, do you have any other bank suggestions?
Yes, check my page I have videos about other banks you can go with as well.
nice hotel..
It was definitely 🔥🔥