Hey y'all, it's Rose and I'm back with another video. This time, this is a update on the Sam's Club business credit card. Make sure you should stay to the end because I'm going to tell you guys how you can apply online only. Skip the process of them trying to ask you for a social security number because this business credit card is EIN only still. There's just a little tricky way that you have to do your application. So, make sure you stay tuned to the end. [Music] Hey, hey, hey. [Music] Now, I get a lot of questions about what type of funding you can get for your business just by building out business credit and using your EIN only. So, the first thing I'm going to start out with doing is explaining to you guys what the minimum requirements are for you to build business credit, how you can build business credit, and what you need to do. So, if you are somebody that already has this established, please go ahead and skip this section and go on to the part where I start talking about how to do your business credit application. Now that we've gotten that out of the way, I want to get straight into building your business credit and structuring it and what that looks like. It is very important that you structure your business properly. You must have a LLC or you can have a escort in order for you to start building business credit. You must have some type of establishment for your business through the Secretary of State claiming that business name. So, for example, you have your LLC through the Secretary of State. You get that, that is the first thing you need to claim that business name. The next thing, second thing is you need your EIN number. When you're filing your EIN number, you're going to go on the IRS website, and this is free for you to get a EIN number. You're going to list out that LLC name once you have gotten it from the Secretary of State. Put that on there, and you'll get your EIN number the same day. For the LLC, you file it through your Secretary of State. It usually takes about 3 to 4 days to come back. And the price range for Fina LLC ranges from $150 up to like $800. It really just depends on what state you're in. California is on the more expensive side. The cheapest state that I've seen is Illinois, which is about the 150 price. So, make sure you Google your Secretary of State, see how much your filing fees are so that you'll know exactly what you'll be looking at. The third thing you're going to need is your Dun's number. That is through Dun and Brad Street. And I'll put the website here and in the description for you guys. Your Dun's number is going to be your business social security number to build business credit. This is going to be the number that you need to start adding on your accounts to start building out your business credit. This is also free. You'll go on the Dun and Brad Street website and you will sign up to get a Dun number with them. Now, one thing I want to add, this can take about seven to 10 days to get back. It just depends. You can get it back fast or it could take a little longer. If it takes too long, get on the phone and call them. Say, "Hey, I'm trying to get an update on my dozen Brad Street number. Sometimes they may need you to verify your identity. Sometimes they may need to confirm some information." So, if you're having a problem, get on the phone. Everything cannot be done on the internet. Sometimes y'all got to call people, get on the phone and see what's going on. Okay, now we have established our business. We have our LLC, our EIN number, and our Dun's number. Now, we are ready to start building business credit. We've gotten that out the way. Now, the next thing that you need to do is building business credit is pretty similar to your personal. you have to add on accounts to actually build up your score and show that you're paying them back on a monthly basis without getting any late payments or without, you know, having long periods of nothing going on. So, the number one and the very first account I recommend everybody add, of course, is going to be Nav Prime. Please make sure you use the link in the description to sign up for Nav Prime and I'm going to put it up on the screen for you guys as well. This is the go-to for business credit building. Nav Prime allows you to actually see all three of your business credit scores, which you have Experian business, Equifax business, and then the Dun and Brad Street score business. These three scores will be available for you directly on Nav Prime website, and you can check your scores at any time to see where you stand with these three business credit bureaus. So, you're able to check your scores. The next thing is they actually offer two business credit trade lines. The first one is NAB Prime. It is $49.99 a month. Once you sign up, it will start reporting on your business credit and boost those scores up within about 30 45 days at the most. Once Nav Prime reports, you'll start to see a change in your scores actually generating. At first, you may not have a score at all, but once you start adding your business credit builder, you'll actually generate a score. The second business credit trade line that you're able to get with Nav Prime is going to be the Nav Prime charge card. It is a business credit card where you can use your everyday business transactions to actually build business credit as well. So, it's a charge card that you're able to apply for once you sign up for Nav Prime. It'll say, "Sign up now for the Nav Prime charge card. you will have to connect your business bank account because that's what they're going to use to take payment and decide on what your initial credit limit is going to be with them. If you do not already have a business bank account, NavP Prime will also offer you that as well so that you can for sure get the charge card, but it's not available in California at the moment. Just want to put that out there. So, with NavP Prime, you're able to monitor all three of your business credit scores. You get one business trade line for $49.99 and then at no additional fee, you get the business charge card with them as well. So, make sure you use my link in the description. So, you're signing up on the right website and you're getting set up properly. Now, out the gate, I just told you guys two business trade lines. You need at least three to generate a business credit score of at least 80 or above. On your Duns and Brad Street score, you need an 80 as well as your Experian. These are the main two. These are the main two that companies pull when you're trying to get that approval that you want for for a business credit card that uses your EIN only. So, we wanted to we want to be monitoring our scores at all times and making sure that we're getting our scores up to that 80. Now, in order for you to get up to that 80 on both of those scores, you need to have at least three business trade lines. So, the other business trade line that I would suggest that you add is called Crown Office Supply. Now, with Crown Office Supply, they are going to extend you a net 30 credit limit of $1,000 and then you must make a purchase of at least $100 for a product so that they can start reporting on your business credit as well. So that will be your third business trade line if you want to get spicy and add a fourth. The bonus one I would say is you could also do Granger. The main thing I want y'all to focus on is adding your business credit trade lines, monitoring your scores on NAB Prime so you can see when your Dun Brad Street and your Experian get to that 80 so you can get the approvals that you want on a business credit cards. Okay. So, now that we've gotten all that out the way on how to build your business credit and how to structure it, now we're going to go into what business credit cards you can apply for and for sure get approved for. The first and number one that I always recommend is going to be Sam's Club business credit card. This credit card can be used anywhere. It is not limited to Sam's Club at all. This is a EIN only business credit card that you can get up to $20,000 as your limit. Now, I'mma keep it a buck with y'all. If you're just recently building out business credit, I usually see people get approved anywhere from six up to $10,000 if you have new business credit that is established. But honestly, that's much better than what most of you guys have to start on your business anyway. So, it's still a great starter card for you to go ahead and apply for. So, that is my recommendation. First thing you need to do the moment you start building business credit, go ahead and just open your Sam's Club business account. It is $50 for the entire year. You can do this in the store or you can do it online. First and foremost, you need to have your business account open with them for at least 31 days because you want to have at least one billing cycle with them showing that you've at least been some type of active customer. So, if you haven't already, go ahead, open up your business account with them. Let that 31 days pass. Now that that is out the way, you are ready to start applying for their business credit card. Now, recently I have been informed and saw that you can just apply online now, but there is a little trick to what you need to do. So, y'all stay tuned. And I wrote it down so that I can read it to y'all word for word. And I'll put a little screenshot on the um screen as well so you know what I'm talking about. You want to apply online, not in the store, because the issue that people have been having in the store is they're asking for your social security number. And this is actually an EIN only card. So to skip all the hassle, they don't always know how to get to the no PG application, which means they don't always know how to get to the application where you don't have to give your social. So you're going to go on the Sam's Club website and you're going to click on the Sam's credit card. Towards the bottom, it says apply for business credit. put 2000 as the start date to bypass their new system and you'll get the application that does not require a social security number. Basically, you go on the Sam's Club website, go on the credit card, scroll all the way to the bottom, look for where it says business credit, and then when it asks for the year your business started, you have to put 2000 so you can bypass the system to give you that application that doesn't require EIN number. So that's the main thing that you have to do so that you can do your application online. So that's number one. The second business credit card that I would recommend is going to be the Amazon business credit card. This one also only requires you to have a EIN only. But with this one, you have to go ahead open up your Amazon business account, get everything set up, and they have to actually offer you to apply for their business credit card. That's the only downside of that one, but it goes up to $20,000 as well. So, my suggestion is go ahead, open your Amazon business account, get everything set up, make sure you know, buy a few items under your business if you can, and just wait on that offer for you to join and apply for the business credit card. Um, those are the main two cards. These two are your best options. I'mma keep it a buck with y'all. What business credit used to be is not what it is today as far as getting those quick and easy approvals. When everybody start doing stuff and then they don't pay back the money that they borrowed on these business credit cards, the companies have to get more tedious with their approval process because essentially they can lose money. So with that being said, this is currently what it takes for you to get either of those business credit cards. At this time, I don't specifically know of any other business credit cards that are EIN only that don't either require you to give your personal social security number for them to approve you on the business side or for you to actually have proof of revenue, whether it be through your um business bank statements. So, if y'all have any other questions about business credit, applying for business credit cards, anything you may have seen on the internet that you're not sure if it's true or not, please comment in the comment section. I'm happy to answer you guys's questions. And if you made it to the end of this video, please comment I made it. I know this one is a little bit longer, but I had to give y'all the full breakdown of everything. Let me know you made it in the comment section. and make sure you like and subscribe. Share this video with a friend who's just started a business that wants to start building business credit. Until next time. Lastly, I did just want to say if you need some type of business funding where there is no minimum credit scores required. It's just based off of the income your business has coming in. If you are at least bringing in $10,000 per month into your business and you can show proof of that with three business bank statements, I actually have a company that is called Rock Financial who will finance you and give you a business loan. So, if you are interested in doing that, just comment funding in the comment section and I will send you the link to apply so you can get more details. but it's also available. I'll put the link in the description as well. So, as long as you are bringing in $10,000 per month, can show proof of that with three business bank statements, then you can get approved with them. And they do loans. They also do equipment loans. If you want to get an equipment loan, if you can just show proof with the invoice of the equipment that you want to purchase and you have to have at least a minimal credit score of 600, you can get approved for an equipment loan. And they work with a lot of different business types on the equipment loan side. And I'll probably link the video uh to the equipment loan for y'all here as well, but they have a plethora of business loan opportunities. So, comet funding, if you want to go ahead and apply, it's literally a one-page application where you just give your basic business details and information. You're going to be contacted by an advisor and they're going to let you know what you're getting approved for, if they need anything additional from you, and you can literally get funding from them within three to five business days. So, thank you again for hanging with me here at Rose Credit Repair. And don't forget, like, subscribe, comment below if you have any credit questions. I'm going to be answering them myself in the comments. So, you know what to do. Until next time.