Navy Federal Go Biz Rewards Visa and Mastercard

are you looking to get a business credit card and more importantly are you looking to get a 25 000 business credit card without any proof of income well if so then I got you if you're already subscribed then welcome back but if you guys are new to my channel my name is Ish Sanderford and you are now watching just money where we talk about financial related topics such as personal and business credit real estate and other Financial related topics so if that's something you're into then you're probably going to want to consider subscribing but on this video we're going to be talking about the Navy Federal go Biz rewards visa and MasterCard so without further Ado let's get into today's video okay so since I've been banking with Navy Federal for quite some time now I've gotten approved for some high limit credit cards on the personal side but today we're going to be talking about how to apply for a credit card on the business side so I just want to share with you guys what I've learned so far and hopefully you guys can build high limit credit cards just like I have so here we go okay so first and foremost let's start with the basics you need a personal checking and savings account with Navy Federal then you can apply to open a business checking account the process to open a business checking account is a bit different than when you open your personal account with Navy Federal to open up personal accounts you have choices you can walk into your local branch call or just do everything online for a business account then this is a whole other department first you have to be a member with Navy Federal for at least 30 days in order to open up a business checking account and I would recommend to apply for the business checking account over the phone just call and request the Business Solutions department and then be prepared for the process to take about an hour and obviously things may change depending on time that you're watching this video but yes it will take about an hour if you have all your paperwork and you're ready to go and the documents that you need will vary by the business type that you have for instance if you have a simple entity such as an LLC then you'll need your tin federal tax ID number letter also your certificate of good standing and your beneficial owner form now if you are a sole proprietorship and you're operating as an independent contractor such as an auto mechanic Barber massage therapist a real estate agent then you're going to need proof of your professional license but once you have your business checking account then you can apply for the business credit card and by the way ladies and gentlemen I'll do a more in-depth video later on on how to open a business checking account in a future video so stay tuned for now I'm just gonna assume already that you guys already have a business checking account if you're watching this video so I'm just gonna skip that step for now okay let's go over the application process for the business credit card now if you're applying for a limit under 25 000 then you won't need tax returns also business age won't matter and they won't require a proof of income or even cash flow from the business just keep in mind that any institution that doesn't ask for documents during the application still has the right to request documentation as needed so use accurate information and the main factor for qualifying you is going to be your personal credit and of course your internal points that you have with Navy Federal as well that is why I always recommend you guys to build a banking relationship with Navy Federal first but here are some data points to consider use the products that they offer the more products that you have with Navy Federal than the higher your internal score will go Navy Federal has an internal scoring system that ranges anywhere from 100 all the way up to 450 and you typically want to be above the 250 range for best chances of approval and if you guys want a more in-depth video explaining how internal points work with Navy Federal then I made a few of those videos I'll link some down in the description below for you guys to watch so check those out but Navy Federal has a lot of products such as auto loans pledge loan AKA security savings loan a mortgage loan a secure credit card a few different insecure credit cards and even personal loans I just did a video on how to get a 50 000 personal loan with Navy Federal so if you guys are interested in watching that then it's going to be in the link in the description below so check that out in that video I pretty much go over all the steps that you need in order to get that 50 000 personal loan from Navy Federal so check it out but that's what I mean by building a relationship with this Bank you build a relationship history by using their products and making your payments on time the more products that you have with them then the more you are approving them that if they give you more credit then you can make those payments on time and that's why they're willing to approve people even if you have bad credit because as long as you have a high internal score then Navy Federal will approve you but okay let's go over some more data points to consider your personal credit is what they look at to qualify you and they do pull from your personal experience credit report and that will be considered a hard pull on your personal credit and try to apply when you have an overall low utilization across your credit cards and also use your business checking account and show deposits and even small deposits are fine such as 100 bucks only a month but the bigger deposits then the higher limit approval will be and obviously your initial credit limit will depend on your overall history and a quick example of that I've seen my clients get an initial limit of anywhere from six thousand to nine thousand by just depositing is a little less 200 to 500 per month and you're going to want to do that for at least three months having an overall total limit of fifteen hundred dollars in that account the Federal Business credit cards are PG personal guaranteed by you the business owner they do not pull from your business credit report and they currently don't offer automatic credit limit increases too by the way you have to wait at least 91 days to request an increase and the credit limit increase request will be a hard pull on your personal credit and you will inquire one hard pull for each credit card that you apply for or any business product that you apply for and this credit card is available as a Visa or Mastercard which have their own benefits but I'll discuss that in a later video and you get one reward point for every dollar spent and the minimum credit on this credit card is going to be 5 000 and the maximum limit on this credit card is going to be twenty five thousand and your credit limit is going to be determined in the underwriting process now your business bank account balance may be reviewed but the PG personal guarantee will play the largest factor on getting approved or not but once you get approved for the business this credit card Navy Federal does not report the history to your business credit they also will now report it to your personal credit but they do however keep an internal score but if you default or go into collections then they will report that to the credit bureau so always stay on top of your payments and also if you guys are finding any of this information helpful if you guys could do me a favor hit the like button I would truly appreciate that because it really helps me out a lot but anyways let's quickly go over what are the most frequently asked questions about this credit card is there an annual fee on the gobiz credit card no there are no annual fees on the business credit card so how neat is that and another question might be can I take a cash advance on my go Biz card and the answer is yes you can take a cash advance all the way up to 30 of your available credit and that in itself is huge to be able to take 30 of your available credit as a cash advance is pretty awesome so for example if you have a limit of 25 000 and you are able to take 7 500 without having to use third-party methods to liquidate your card another question might be is there a fee for cash advances and the answer is no there are no fees for cash advances but one thing I will say is that the interest will start accumulating immediately so just beware the cash advance APR is two percent higher than the standard APR but again there are no cash advance fees so that in itself is really good and another question might be can I obtain credit cards for my employees and the answer to that is yes you may obtain credit cards for your employees and another question might be how do I obtain convenience checks how do you do that to get convenience checks simply call 1-88-842-6328 and here's another way to liquidate your card by requesting convenience checks you just order the checks and you can write yourself or your business a check and then deposit that check using the app and again if you haven't already don't forget to hit the like button guys because it would truly mean a lot for me okay now let's keep it going another question that you might have is well my personal credit be checked when I apply for the go Biz card yes personal credit score is obtained from experience are taken into consideration during the decision process the underwriting process includes an evaluation of relevant credit information including potentially the credit profiles of the business entity visual owners and or guarantees so yes it's going to be a hard pull on your personal now building credit is a process so just make sure your credit is at its best when you're applying and that means a low utilization no negatives on your credit report such as a late payment no Collections and also no charge offs as well the better that your personal credit is the easier it is to get approved and another question you might have is does Navy Federal require a personal guarantee personal guarantees are required on all business lending products most institutions will require a personal guarantee when you're starting to build business credit and they'll also check your personal credit and that's why it's important to build up your personal credit and one last question that you might have is if I own more than one business and would like to have a gold Biz card for each business how does that affect the limits on each card your maximum proof credit limit will be approved by the businesses that you own or co-own for example let's say that you own or call on two businesses and one of the businesses already has a Navy Federal go Biz card if you decide to apply for a new gold Biz card for your other business your total limit will be split between the two and that means the limit on your first credit card may be reduced and this credit card does have a variable APR of 13.90 all the way up to 18 but depending on the time that you're watching this video then the APR may change well I don't want to make this video too long so I really hope that you guys found value in this information and also comment down below if you got the Navy Federal go Biz card already or if you're trying to get it and what's your business or what business are you trying to start let me know in the comments I would like to know but if you guys made it to the end of the video then I truly do appreciate you guys we were at 17 188 subscribers at the time of this recording so I do appreciate all who watch I do Post weekly videos for those that don't know and if you haven't already don't forget to hit the like button subscribe to the channel if you haven't yet already and don't forget to hit the notification Bell so that way you get notified every time I ish post a new video and again we talk about personal and business credit real estate and other Financial related topics so if that's something you're into you're probably going to want to consider subscribing we talk about how to get high limits on your credit cards how to start business credit how to get better personal credit we talk about credit cards such as Navy Federal Amex Discover It Chase Capital One Etc so that's something you're into then I would definitely consider subscribing we also talk about real estate mortgage loan products all that so this is your One-Stop shop and for those that don't know I am also a licensed real estate agent a realtor here in Southern California so if you're trying to buy or sell or have any questions in regards to real estate then I can help you out all my information is in the description below I am also a licensed mortgage loan originator as well so if you're looking for funding for a home then I can definitely help you out with that as well all my information is in the description below and again if you guys are looking to get a 50 000 personal loan from Navy Federal then I will link that in the description below or just feel free to browse my channel but thank you so much for those who made it to the end of the video and I will see you guys in the next video thanks for watching [Music] thank you [Music]

are you looking to get a business credit card and more importantly are you looking to get a 25 000 business credit card without any proof of income well if so then I got you if you&#39;re already subscribed then welcome back but if you guys are new to my channel my name is Ish Sanderford and you are now watching just money where we talk about financial related topics such as personal and business credit real estate and other Financial related topics so if that&#39;s something you&#39;re into then you&#39;re probably going to want to consider subscribing but on this video we&#39;re going to be talking about the Navy Federal go Biz rewards visa and MasterCard so without further Ado let&#39;s get into today&#39;s video okay so since I&#39;ve been banking with Navy Federal for quite some time now I&#39;ve gotten approved for some high limit credit cards on the personal side but today we&#39;re going to be talking about how to apply for a credit card on the business side so I just want to share with you guys what I&#39;ve learned so far and hopefully you guys can build high limit credit cards just like I have so here we go okay so first and foremost let&#39;s start with the basics you need a personal checking and savings account with Navy Federal then you can apply to open a business checking account the process to open a business checking account is a bit different than when you open your personal account with Navy Federal to open up personal accounts you have choices you can walk into your local branch call or just do everything online for a business account then this is a whole other department first you have to be a member with Navy Federal for at least 30 days in order to open up a business checking account and I would recommend to apply for the business checking account over the phone just call and request the Business Solutions department and then be prepared for the process to take about an hour and obviously things may change depending on time that you&#39;re watching this video but yes it will take about an hour if you have all your paperwork and you&#39;re ready to go and the documents that you need will vary by the business type that you have for instance if you have a simple entity such as an LLC then you&#39;ll need your tin federal tax ID number letter also your certificate of good standing and your beneficial owner form now if you are a sole proprietorship and you&#39;re operating as an independent contractor such as an auto mechanic Barber massage therapist a real estate agent then you&#39;re going to need proof of your professional license but once you have your business checking account then you can apply for the business credit card and by the way ladies and gentlemen I&#39;ll do a more in-depth video later on on how to open a business checking account in a future video so stay tuned for now I&#39;m just gonna assume already that you guys already have a business checking account if you&#39;re watching this video so I&#39;m just gonna skip that step for now okay let&#39;s go over the application process for the business credit card now if you&#39;re applying for a limit under 25 000 then you won&#39;t need tax returns also business age won&#39;t matter and they won&#39;t require a proof of income or even cash flow from the business just keep in mind that any institution that doesn&#39;t ask for documents during the application still has the right to request documentation as needed so use accurate information and the main factor for qualifying you is going to be your personal credit and of course your internal points that you have with Navy Federal as well that is why I always recommend you guys to build a banking relationship with Navy Federal first but here are some data points to consider use the products that they offer the more products that you have with Navy Federal than the higher your internal score will go Navy Federal has an internal scoring system that ranges anywhere from 100 all the way up to 450 and you typically want to be above the 250 range for best chances of approval and if you guys want a more in-depth video explaining how internal points work with Navy Federal then I made a few of those videos I&#39;ll link some down in the description below for you guys to watch so check those out but Navy Federal has a lot of products such as auto loans pledge loan AKA security savings loan a mortgage loan a secure credit card a few different insecure credit cards and even personal loans I just did a video on how to get a 50 000 personal loan with Navy Federal so if you guys are interested in watching that then it&#39;s going to be in the link in the description below so check that out in that video I pretty much go over all the steps that you need in order to get that 50 000 personal loan from Navy Federal so check it out but that&#39;s what I mean by building a relationship with this Bank you build a relationship history by using their products and making your payments on time the more products that you have with them then the more you are approving them that if they give you more credit then you can make those payments on time and that&#39;s why they&#39;re willing to approve people even if you have bad credit because as long as you have a high internal score then Navy Federal will approve you but okay let&#39;s go over some more data points to consider your personal credit is what they look at to qualify you and they do pull from your personal experience credit report and that will be considered a hard pull on your personal credit and try to apply when you have an overall low utilization across your credit cards and also use your business checking account and show deposits and even small deposits are fine such as 100 bucks only a month but the bigger deposits then the higher limit approval will be and obviously your initial credit limit will depend on your overall history and a quick example of that I&#39;ve seen my clients get an initial limit of anywhere from six thousand to nine thousand by just depositing is a little less 200 to 500 per month and you&#39;re going to want to do that for at least three months having an overall total limit of fifteen hundred dollars in that account the Federal Business credit cards are PG personal guaranteed by you the business owner they do not pull from your business credit report and they currently don&#39;t offer automatic credit limit increases too by the way you have to wait at least 91 days to request an increase and the credit limit increase request will be a hard pull on your personal credit and you will inquire one hard pull for each credit card that you apply for or any business product that you apply for and this credit card is available as a Visa or Mastercard which have their own benefits but I&#39;ll discuss that in a later video and you get one reward point for every dollar spent and the minimum credit on this credit card is going to be 5 000 and the maximum limit on this credit card is going to be twenty five thousand and your credit limit is going to be determined in the underwriting process now your business bank account balance may be reviewed but the PG personal guarantee will play the largest factor on getting approved or not but once you get approved for the business this credit card Navy Federal does not report the history to your business credit they also will now report it to your personal credit but they do however keep an internal score but if you default or go into collections then they will report that to the credit bureau so always stay on top of your payments and also if you guys are finding any of this information helpful if you guys could do me a favor hit the like button I would truly appreciate that because it really helps me out a lot but anyways let&#39;s quickly go over what are the most frequently asked questions about this credit card is there an annual fee on the gobiz credit card no there are no annual fees on the business credit card so how neat is that and another question might be can I take a cash advance on my go Biz card and the answer is yes you can take a cash advance all the way up to 30 of your available credit and that in itself is huge to be able to take 30 of your available credit as a cash advance is pretty awesome so for example if you have a limit of 25 000 and you are able to take 7 500 without having to use third-party methods to liquidate your card another question might be is there a fee for cash advances and the answer is no there are no fees for cash advances but one thing I will say is that the interest will start accumulating immediately so just beware the cash advance APR is two percent higher than the standard APR but again there are no cash advance fees so that in itself is really good and another question might be can I obtain credit cards for my employees and the answer to that is yes you may obtain credit cards for your employees and another question might be how do I obtain convenience checks how do you do that to get convenience checks simply call 1-88-842-6328 and here&#39;s another way to liquidate your card by requesting convenience checks you just order the checks and you can write yourself or your business a check and then deposit that check using the app and again if you haven&#39;t already don&#39;t forget to hit the like button guys because it would truly mean a lot for me okay now let&#39;s keep it going another question that you might have is well my personal credit be checked when I apply for the go Biz card yes personal credit score is obtained from experience are taken into consideration during the decision process the underwriting process includes an evaluation of relevant credit information including potentially the credit profiles of the business entity visual owners and or guarantees so yes it&#39;s going to be a hard pull on your personal now building credit is a process so just make sure your credit is at its best when you&#39;re applying and that means a low utilization no negatives on your credit report such as a late payment no Collections and also no charge offs as well the better that your personal credit is the easier it is to get approved and another question you might have is does Navy Federal require a personal guarantee personal guarantees are required on all business lending products most institutions will require a personal guarantee when you&#39;re starting to build business credit and they&#39;ll also check your personal credit and that&#39;s why it&#39;s important to build up your personal credit and one last question that you might have is if I own more than one business and would like to have a gold Biz card for each business how does that affect the limits on each card your maximum proof credit limit will be approved by the businesses that you own or co-own for example let&#39;s say that you own or call on two businesses and one of the businesses already has a Navy Federal go Biz card if you decide to apply for a new gold Biz card for your other business your total limit will be split between the two and that means the limit on your first credit card may be reduced and this credit card does have a variable APR of 13.90 all the way up to 18 but depending on the time that you&#39;re watching this video then the APR may change well I don&#39;t want to make this video too long so I really hope that you guys found value in this information and also comment down below if you got the Navy Federal go Biz card already or if you&#39;re trying to get it and what&#39;s your business or what business are you trying to start let me know in the comments I would like to know but if you guys made it to the end of the video then I truly do appreciate you guys we were at 17 188 subscribers at the time of this recording so I do appreciate all who watch I do Post weekly videos for those that don&#39;t know and if you haven&#39;t already don&#39;t forget to hit the like button subscribe to the channel if you haven&#39;t yet already and don&#39;t forget to hit the notification Bell so that way you get notified every time I ish post a new video and again we talk about personal and business credit real estate and other Financial related topics so if that&#39;s something you&#39;re into you&#39;re probably going to want to consider subscribing we talk about how to get high limits on your credit cards how to start business credit how to get better personal credit we talk about credit cards such as Navy Federal Amex Discover It Chase Capital One Etc so that&#39;s something you&#39;re into then I would definitely consider subscribing we also talk about real estate mortgage loan products all that so this is your One-Stop shop and for those that don&#39;t know I am also a licensed real estate agent a realtor here in Southern California so if you&#39;re trying to buy or sell or have any questions in regards to real estate then I can help you out all my information is in the description below I am also a licensed mortgage loan originator as well so if you&#39;re looking for funding for a home then I can definitely help you out with that as well all my information is in the description below and again if you guys are looking to get a 50 000 personal loan from Navy Federal then I will link that in the description below or just feel free to browse my channel but thank you so much for those who made it to the end of the video and I will see you guys in the next video thanks for watching [Music] thank you [Music]

Transcript for:Navy Federal Go Biz Rewards Visa and Mastercard

Transcript for:
Navy Federal Go Biz Rewards Visa and Mastercard