Sam's Club Business Credit Card and Business Credit Building

Introduction

• Presenter: Rose
• Topic: Update on Sam's Club business credit card and building business credit using EIN only.
• Purpose: To guide on applying for a business credit card without using a Social Security Number (SSN).

Building Business Credit

Minimum Requirements

1. Business Structure:

   • Must have an LLC or S-Corp.
   • Registered business name via the Secretary of State.

2. EIN Number:

   • Obtainable for free via the IRS website.
   • Necessary for business identification.

3. Dun's Number:

   • Issued by Dun & Bradstreet.
   • Acts as a business's social security number for credit.
   • Takes about 7-10 days to receive.
   • Contact Dun & Bradstreet by phone for issues.

Building Business Credit

• Similar to personal credit - requires adding accounts to build a score.

Recommended Accounts

1. Nav Prime:

   • $49.99/month for business credit monitoring.
   • Provides access to business credit scores from Experian, Equifax, and Dun & Bradstreet.
   • Offers two business credit trade lines.
     • Nav Prime ($49.99/month).
     • Nav Prime Charge Card.

2. Crown Office Supply:

   • Offers a net 30 credit line of $1,000.
   • Requires a purchase of at least $100.

3. Granger (Optional):

   • Additional trade line.

Target Scores

• Aim for a score of 80 or above on Dun & Bradstreet and Experian.

Business Credit Cards

Sam's Club Business Credit Card

• Type: EIN only.
• Limit: Up to $20,000.
• Application Process:
  • Apply online.
  • Use a start date of 2000 to bypass SSN requirement.
  • Must have a Sam's Club business account for at least 31 days.

Amazon Business Credit Card

• Type: EIN only.
• Limit: Up to $20,000.
• Requirement: Must be offered to apply after setting up an Amazon business account.

Additional Business Funding

• Rock Financial:
  • Business loan options without minimum credit score.
  • Requirements:
    • $10,000 monthly revenue.
    • Proof via 3 business bank statements.
  • Includes equipment loans with a minimum credit score of 600.

Conclusion

• Share insights on building business credit and available credit cards.
• Encouragement to engage in the comments for further questions or clarification.
• Calls to Action: Like, subscribe, and comment with questions or for funding links.