your business use an additional $25,000 are you a member of Navy Federal if so this is the perfect video for you because I'm going to show you not just data points step by step how you can get approved for this card and how I got approved for this card so join me on the computer and I'm going to show you step by step how to get approved for the Navy Federal Gold Biz rewards card in 2024 now for full transparency um I was approved for the Navy Federal go bid rewards card and I was approved for $115,000 I do plan on uh submitting a request for a credit line increase within the next 91 days um I believe you can do it within 30 days but I'm just going to wait the 91 that way I can get some usage out of it before I make that request so I'm just going to probably put like on the screen somewhere the approval and um yeah let's get started so the first thing you need to do in order to qualif qualify for the Navy Federal go Biz rewards card is set up an account with Navy Federal if you are not a member and you would like me to make a video on other ways that you can become a member then I will do that as well let me know in the comments if that's something that you would like to see now I received an access code from one of my friends who allowed me to become a member um once I did that the first thing I did was open up a easy checking account a flagship checking account a savings account after I made these three accounts the very next thing that I did was get a in reward secur card and then I also got the pledge loan for $51 if you do $51 then you can have the pledge loan for 12 months now um I'm going to preface this by saying there are different ways ways to approach getting this card depending on where you are in your credit repair Journey or if you have Prime credit so in my instance when I first started with Navy Federal I was rebuilding credit I had a lot of charge offs a lot of collections my credit score was sub 600 so somewhere in the 500s so if this sounds like your situation I'm going to give you the steps that I took in that situation if you have a fair credit score but you don't have any derogatory marks I'll give you that scenario and if you have Prime credit I'll give you that scenario so let's just start with what I originally started with I started with easy checking Flagship Savings in rewards secured card and I also started with um with the pledge loan $51 you can pretty much do this all within like a two or three day time span so I I wouldn't even overthink it with this I'm GNA be under the assumption that you are already a member as we're doing this um so let's go under the guys that you're already a member with navy federal or you have the ability to become one at this moment all right if you have subprime credit I will follow those steps that I took if you have Fair Credit like you're below a 650 but you're probably above like a 6 um a 630 and you have no derogatory marks I would still do everything just said but I would change one thing sorry I'm going to just go right here so this was the in reward secure card when I got this card I got it because I went to pre-qualify and I could not get any other credit card I would go to the pre-qualify me section on Navy Federal before you get the nry warts card check if they pre-qualify you for any other credit card I now have a cash rewards card I now have a go rewards card I received both of those cards prior to me getting the business credit card so if you're Fair Credit no derogatory marks no collections no anything like that and you're above a 630 right around that that range go to the pre-qualify me section and have them pre-qualify you for something else you may get a cash Rewards Card you may get something else go rewards you may get something else if you get that cool get that card instead of the in reward secure card and do the pledge loan same uh checking accounts same savings account if you have Prime credit a lot of this won't apply to you if you're a 750 or above I would just open an account with Navy Federal I would still do the flagship checking account I would still do the savings account you don't necessarily need to do the credit card or the pledge loan the more products you have the more you build up your internal score but with a score like that you don't need to do it I don't see that as being something that you need to do would it hurt no but not necessarily anything that's you know I would recommend for you you don't have to do that now with the uh secure card I did the deposit of $200 it was very very easy I put it in my savings account um I called Navy Federal they went ahead and took it from my savings and then that was my credit line with the pledge loan I put $51 in my savings account they take it from your savings account and then they put it back into your checking you get the money back but then you'll also see the pledge loan I paid 90% of that loan so I paid about $450 and when you pay it they put the money back into your account again so a a pledge loan is really just you transferring funds around you don't really have to worry about that you could even use the same money from the pledge loan do the pledge loan get pay the 450 on 5001 and then take 200 from that and use that for the secure card you could just move the money around and Shuffle it and do the same thing you only get the money back for the in reward secure card you only get that back after um after 6 months at least I think they can grab graduate you earlier it took me one year to graduate now these are just some prerequisites that I'm recommending cuz I know everyone's at a different point in their situation with trying to get this um trying to get this business credit card so I just want to make sure I touch everybody okay I I hate to always deviate from the point but I just want to tell you this is what I did this is exactly what I did after I did all of this and set up these Navy Federal products the the next thing I did was open up a business membership so become a business member and get started this process for me was very very easy you want to gather all your information before you start the business membership application when you start the application they're going to ask you for some documents they um let's actually go to this and we'll go to right here to our business solution facts so what documentation do I need to submit with my application so for business The Business Solutions require your um your structure for your business for me it was my business license um the I went to irs.gov and got my Ein in number so if you're familiar with um with uh creating a business and folling that information with the Secretary of State you need to get a a EIN in number um you have to get a business license and then they say that you need a certificate of good standing but for the state that I'm in I just went to my Secretary of State website search for my business and screenshot it as my certificate of good standing it shows that the business is active so the documents re they vary by the business type I never create llc's I only create corporations that's just my preference so if you have a corporation they want the good standing certificate filed stamped within 60 days before date of application again I just did a screenshot from my Secretary of State website it showed that my business was valid you're going to need your federal tax ID when you start a business you should already have this and you'll have those documents The Beneficial owner form if you're the 100% owner of this then just yourself and the petitious name certificate is if you had it that's just if it's applicable I I didn't even need that now uh I would say the most common business that people use is probably an LLC so for LLC certificate of good standing again um with your state it depends I went to the Secretary of State website screenshot uh your federal tax ID and then the beneficial owner so same documentation you would need for a corporation and then so on and so forth uh you guys could take a look at this and see where you would fall under your under um your particular business type and then this is what you would want to do and it tells you some information about what a beneficial owner is um how does Navy Federal collect this information so you can go here and read through um once I collected all this information they're going to have you have a uh start at to-do list where you're going to be uploading all this information you're going to upload all this information it's it's fairly easy guys super quick once that information is uploaded you're going to call this number 1877 4181 1462 within two business days after you've uploaded your documents now I do a lot of research I've seen videos where some people said that it took them um you should wait 30 days before you apply for the uh business account just so you know I did mine within two days I opened up my account with Navy Federal right I did everything that I told you about the pledge loan uh the N rewards the secure card um and then I set up my direct deposit of course for Navy Federal and then right after that I did this online and I submitted all my documentation the phone call is about 1 hour so right here it lets you know uh review your application and documents with our Representatives please be mindful that the review process can take an hour so that review process is as follows um they will ask you for your um your nais code or you may know it as like this the sit code your business type uh I had a website they asked me to for the website they reviewed the website they wanted to know what my business did um how we made profit you know they they just want to check um your business address uh they're going to ask you if it's a virtual address they said that that's okay um so all this was done it again it took about one hour just like they're they're saying here um and you need to be prepared to fund your business membership so the minimum amount required to open your account will be $250 to $255 and this amount should be available for transfer from your personal Navy Federal account uh through a non Federal debit or credit card so it's pretty straightforward guys it doesn't take long to apply for this account um again you could do this all within like two or 3 days if you have Prime credit 750 or above you can open your checking account your savings account I recommend all three the easy the flagship um and the savings and then you can um go ahead wait for your online account to be active and then you can go to this page business membership get started follow these steps to start an application right you're going to just go to start the application and when you go to start the application oh I'm sorry you have to sign uh when you go to start the application you have to sign into the Business Solutions portal in order for you to even see it but what'll happen is you sign into your personal account you go to start the application and then it's going to bring you to the Solutions portal and then once you get to the portal that's when it's going to ask you to upload all the documentation that we just went over all right so just so that I can bring everything back together at this point subprime people the people who are rebuilding we've gotten that secure card we've gotten that checking savings account we've gotten that pledge loan our mid-tier people Fair Credit people with no Collections and no derogatory marks um you're going to do the same thing but you're going to pre-qual qualify for a different credit card just in case you can get the cash Rewards or the go rewards and save yourself that secure deposit and for our Prime people you just set up the checking accounts the savings and then you can go right on ahead to this step and the reason why I'm saying this is because when I originally joined Navy Federal I applied for this credit card before I had just gotten my credit score to a 600 right around that um range and I still had derogatory marks I still had had Collections and charge offs I applied for this card they pull from your Experian credit score personal TransUnion credit cards pool um um personal credit cards from Navy Federal pool from TransUnion the business pools from Experian just keep that in mind when I did it I was denied when I was denied I received a response telling me I had too many delinquent accounts so that's why I'm saying it's it's not that you wouldn't qualify if you have those delinquent accounts but you're going to have to do more relationship building first that's why for you guys I recommend the pledge loan that's why for you guys I recommend the in rewards card direct deposit um and then I would even set up a direct deposit for your business account even if it's just $25 every two weeks I would just put some money in there you do that for six months improve your credit score and then you can go back and take a look and see if you can qualify now in my case I don't know if I I don't know if you can qualify if you have any derogatory marks I do know that with Navy Federal it's all about relationship building that's one of the major keys so if you have improved your credit score enough and you've also gotten these products with them it will just increase your chances of getting qualified for this credit card at the time that I qualified for this business credit card I had no derogatory marks I had uh no Collections and my credit score was a 762 so I just want to have you guys keep that in mind so once you've started that business account this is the go Biz rewards credit card right once you started it you can start the application here so before I go on I'm going to tell you a few data points about my personal business again it was a corporation when I applied for this card the first time my uh Corporation was only open for around 8 months when I applied for it the second time the cor my uh Corporation was open around uh one year and 7even months and I believe I did this on February the 6th of 2024 so I just got this account this is fairly new now I will say for this card I received the 14.4% APR variable there is no annual fee it's a 1x Point per dollar spent so for people who have uh a lot of other business credit cards this is not the greatest rewards card but hey if you need funding it's good to get started um this card is available in a Visa or a MasterCard once you go to the start and application point you will be given the option of choosing between a Visa or a MasterCard there is no earnings cap on this card but again it's it's basically one point per dollar spent so it's like 1% so it's not the best rewards but you know it's better than nothing there's no foreign transaction fees it's great for travel and expenses and zero liability policy for unauthorized charges okay so um I did get approved for the MasterCard that's the one that I that I chose um my business again opened one year and seven months um I did build some business credit but I don't think that that was an important factor when it came to qualifying for this card I think the two most important factors is having a a fair credit score I had less than three inquiries only two inquiries at the time and I'm sorry I had one inquiry at the time only one uh but I would say three or less would actually be good uh I would say have at least a 680 credit score without a relationship if you have below a 680 then I would say build a relationship first especially if you have collections or theck atory marks you definitely want to build that relationship with them first um other than that I think it's pretty straightforward and uh that's really all that I had with a business I believe you could get this card with a brand new business as long as it's structured properly when I say structured I mean you have a a website you have a a Google profile where this business can can be found you get your number in the white pages and yellow pages online believe me that still matters you have a business number for this this line you have a virtual address I'm I actually started doing a course on starting a business and I'm going to be starting a new business within um the next probably four weeks when I start this new business I'm going to document the entire process and I haven't decided yet if I'm going to put it on YouTube or if it's going to be like like a course that you can get from my website uh success withth Stevens smith.com so uh just keep an eye out for that but I'm going to be uh doing a lot more videos when it comes to business credit cards and getting business funding so this is the first of many more to come so let's go to start the application and we're going to go to single owner unless you're a multi-owner business but I'm a single owner business so I'm going to sign in to apply here um I was able to sign in with e so that is good uh right now I have it I have the screen like covered slightly because I'm um concealing my business name but this was the process the the process was application underwriting um it was approval closing and then booked so it let you know application you completed the loan application it's been received and monitor your to-do list right underwriting review of the application and supporting documentation the loan will be decisioned once it's determined that the application is complete approval closing and booked so this is the process I applied on um February the 6th I was approved on February the 9th and I was able to see the account in my online business portal on February the 12th and on February 13th the account was booked and then it showed booked and closed by the 13th all right so the entire process was uh you know I would say seven days it could probably take 7 to 10 days but for me like you know 5 6 days really um not you know with the weekend so I I did start uh a process that I was going to show you guys and um I didn't want to go much further so it's an incomplete application that's going to expire within 48 hours now it's showing my business information here so I'm going to have to conceal that but um and I'm not going to go any further because at some point they do the hard inquiry and my information just seems to a autop populate so I'm not going to go any further than this but this is the business Visa application I already have the MasterCard so this is the Visa one so Card application your business where they're just going to ask for your business details it's going to autop populate right here again I'm probably have this concealed right now I can see it but you'll see your business information then the electronic communications they just some um information that they're going to want you to confirm uh beneficial ownership that's when you're going to put if your 100% or if this business is split between two different owners your card information um they're they're just going to ask you uh where do you want the card sent to and you know it'll probably be I think it only gives you the option for the address on file which should be your business address um your personal income and housing that's where they're going to ask you for how much money you make uh as an individual and your housing expenses now for the amount that I put it was it was over 100,000 but again I'm not sure if that actually is implic it just depends but you can also do like you know under 100 I would just put with your personal income is because I I I really I really don't know any data points that it would be for that but I'm just telling you for me I put above 100,000 um for the personal income for your business income they're going to ask you if your business makes less than $1 million per year and if you fall into that category then that's what you're going to choose and uh cert and your certifications and disclosures again some things that they're going to get you to um confirm your certification your uh certification of organization excuse me that's where they're just going to uh confirm that your business is in good standing and you just confirm that information you're going to have an electronic signature with your first name last name and I believe your initials you're G to review and then submit after that next step basically it's the process that we had discussed before um which is you uh you have to wait for it to go through um to go through that status of application underwriting um approval um um and then that uh booking one so we're going to go through that process again it should take about uh for me it was like 3 days to know that I was approved it took about 5 to 6 days to actually see the account on my um online portal and it took about seven days for that account to be uh completely uh well that that whole entire application to be booked which it's now online and it's completely closed and we're done so uh if you guys have any questions please let me know in the comments um if you're a member of Navy Federal and you have this card or you recently applied for this card please put that down in the comments let me know what you were approved for uh for me again I was approved for 15,000 um and that was with a again 762 credit score no derogatory marks no collections um no charge offs and uh I only had one inquiry at the time that I applied and um and my business was open for one year and seven months again I don't think that's applicable I just think your business needs to be structured which if you were able to get the business checking account then I believe that your business is structured and I I think that that's all you need man if you have a a decent credit score 680 or above um you're good to go below that with no derogatory marks like a below a 680 but maybe like that 630 to like 660 range I would just get a couple products and then uh I would go and apply and if you are subprime with the credit I would get the in rewards card and then I would get the uh pledge loan and I would make some deposits uh wait until the your credit is cleaned up a bit maybe wait 6 months and then go apply for the card worst case scenario I have a video that you probably seen of how to remove the heart inquiry this credit card does not show up on your personal credit it doesn't show up on your business credit some people don't like that for me and what I do with credit that's perfect because the utilization doesn't get reported so it won't affect you if you used 80% of the credit balance it won't affect your business credit so for me um I don't see that as a pro in fact that's the that's the reason why I got the card in the first place um I don't see any any advantage of the rewards for this card there are much better cards with rewards American Express has a lot of good cards Chase has better business cards but just the fact that it doesn't report on your business credit or your personal credit was an advantage to me to have that extra 25,000 I mean I I think well 15,000 but I'll get to 25 um but to me that was an advantage I thought that that was actually a pretty good thing um I'm trying to think other than that if if there was any other if there was anything else that we need to uh go through um but I think that is I think that is everything so if you guys have any additional questions if I missed anything if you think that there was some step that um you maybe I overlooked please let me know in the comments so that I can clarify anything for you or um you know any other questions that you have you guys know I'm I'm very very um I'm very responsive I'll answer as many questions as possible usually I'm doing some work in between but um if you if you email me if you leave a comment if you DM me I usually respond fast I think my fastest responses will come from the comments more than it'll come from any other um any other medium so uh please leave a comment like and share and subscribe and I want to see you guys get $225,000 in business funding please so uh start these applications start the process and I want to see it let me know thank you for everything and you guys have a wonderful day