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@Nestop50-z2p2 ай бұрын
Tried your system. Even got an EIN. Got rejected after 20 seconds with the Chase Ink Business Cash.Could have gotten denied all by myself without your help, thank you very much. I really thought you were onto something here, But now I've got another hard pull on my credit Why are you recommending this to people when the creditor bases their decision on personal credit, and not this? Just cause you have perfect credit, please. DO NOT recommend this to those like me teetering on a 588 cr.score.
@MarkReese2 ай бұрын
@@Nestop50-z2p - This video is not about guaranteeing an approval. Rather, it's about putting the odds more in your favor and how to apply without having an LLC, corporation, etc.. Sorry to hear about your denial. Score requirements are not published by the banks, but I'd personally want to have a 700+. That said, it may be possible to get approved with lower scores, but there isn't a way to guarantee any outcome. Credit decisions go well beyond the score alone.
@bigbisketx6 ай бұрын
Remember folks, do not forget, you've got to have great personal credit to receive any business credit. A lot of gurus forget to mention that.
@MarkReese6 ай бұрын
Correct. See 15:20 in the video.
@sexipinkice6 ай бұрын
Wish I knew that before I applied. Thanks
@TammT515 ай бұрын
Wish that was said 1st cause no need to listen to full vid if you have bad credit, but thanks away for the info
@shereviewsstuff4ya4 ай бұрын
quite informative.
@KayKillian4 ай бұрын
This is incorrect information. If you build your business credit organically you can do it without a personal guarantee. It takes time.
@ayushsheth20877 ай бұрын
Hey Mark, been here since 500 subs. So happy you respond to everyone and glad to see your growth. Excited to see play button soon.
@MarkReese7 ай бұрын
I hugely appreciate your support, Ayush! 🥇 More great videos to come...
@_MrnoCAP6 ай бұрын
Excited to join the community and network. ENJOI using credit. While doing business. To earn extra income. To scale our business.
@TheSimpleDollarShow7 ай бұрын
It’s great that we DON’T need an LLC or even an EIN to get approved for business credit cards 💯
@MarkReese7 ай бұрын
Sure is!
@PrimateProductions3 ай бұрын
But you do have to have really good personal credit
@simonerankine3617Ай бұрын
I was confused. a lot off people keeps saying you need a EIN or a LLC register address phone number. But there’s a lot of people that work from home
@PrimateProductionsАй бұрын
@simonerankine3617 ok ...but one usually gets a business credit card when they own the business. There are a lot of people who work from home but that doesn't mean they own their own business...it juat means they work at home. If you own a business that is when you get an LLC or EIN number. Working from home has nothing at all to do with this.
@chrisbrown87487 ай бұрын
Hey KZbin algorithm Mark is the goat of credit card videos and you should recommend his videos to everyone🙌🏽❤️👍🏽👍🏽
@MarkReese7 ай бұрын
Thanks Chris! 😁👊
@Timotheos-td7mq6 ай бұрын
Yeah recommended it to everyone that doesn't have a job, it's not like you have to pay it back with interest.. Right 🤣
@johnwilsoniii47577 ай бұрын
I’m going to build my personal score up before applying for Chase.
@MarkReese7 ай бұрын
Make it happen! 💯
@joetaylor65817 ай бұрын
lol not me already planning to Apply for this exact card and he posts a video right before to help me out 🎉
@MarkReese7 ай бұрын
Good luck on the application!
@wilfredpapaya47397 ай бұрын
Definitely will get into Business cards soon but not right now.
@MarkReese7 ай бұрын
💯👍
@thejokerspeaks7 ай бұрын
Anyone with the Amex Platinum already kind of owns a small business, in the crazy coupon lady sense.
@MarkReese7 ай бұрын
😂
@hwnsylke123Ай бұрын
Which business credit card would you get if you have 730-750 credit score, have around 130K annual income and are wanting to start a sole prop but need around $7-8K to legitimize the business and pay for the certification trainings? Or would you get multiple cards to spread out that initial $7-8K?
@letstalkdesign28695 ай бұрын
Followed your lead and was approved for $20,000! Thank you:)
@MarkReese5 ай бұрын
Fantastic, congrats on the $20K!
@davec20206 ай бұрын
Great content Mark. Question is does it go against your own credit? Hard inquiry on your report? If yes and i am in the process of starting my own company do i wait so i dont have hard inquiry? Also what business cards would u suggest if cant show income in new business? Any advice would be greatly appreciated. Thank you
@MarkReese6 ай бұрын
1. Yes. Small business credit cards will pull your personal credit and therefore leave a hard inquiry. 2. I don't have data to suggest which cards are easier than others based on no current revenue. In general, I've found Amex to be easiest to work with for new businesses.
@TammT515 ай бұрын
Wish that was said 1st cause no need to listen to full vid if you have bad credit, but thanks away for the info
@MarkReese5 ай бұрын
👍
@KENNEDYMENEZES6 ай бұрын
Thank you Mark! Very valuable info.
@MarkReese6 ай бұрын
You're welcome!
@davidprasad656 ай бұрын
Awesome information. Thanks!
@MarkReese6 ай бұрын
You're welcome!
@Mr-ng3mq2 ай бұрын
You sir are awesome. This is the video I was looking for. You had all the answers to my questions. Fantastic job!!! 🙌
@MarkReese2 ай бұрын
Thanks, glad to help!
@marksmith45122 ай бұрын
Actually the lowest 4 digit number I can think of is 0000
@Peteliao7 ай бұрын
I set up a lemonade stand, at the park. Now I have a business
@MarkReese7 ай бұрын
💯🍋
@jalabi997 ай бұрын
Literally, you do!
@chrisharton97254 ай бұрын
Hilarious 😂
@InstructorWest6 ай бұрын
If you apply for a business card but use it for personal use and pay it off from personal funds, is that legal or can that create an issue with the IRS?
@MarkReese6 ай бұрын
Per my understanding, there's no legal issue from a government perspective. It's only a violation of the cardmember agreement. And for those who have legal structures (LLC, etc.), adding personal expenses can "pierce the corporate veil" and be a problem if a lawsuit were to occur. All that said, I don't give legal advice, so best to consult with an expert in the matter.
@johnwick8607 ай бұрын
hi, I have an upcoming 3 to 4 month hotel stays later this year & I am choosing which hotel cards to pick, there are Hyatt, Hilton, Marriott and Crowne Plaza in the area.. also I can get the Chase WOH, Hilton Surpass & Aspire, Bonvoy Brilliant & Bonvoy Business & Chase IHG Premier.. out of the Hyatt Globalist, Hilton Diamond, Marriott Titanium or Diamond, IHG Platinum or Diamond... which is worth spending $30k or more? my family will join me as well so breakfast (and maybe club lounge access) for 4 is an important factor, thanks
@MarkReese7 ай бұрын
I can't tell you what you should value. All I can say is that many people in this game strongly prefer WoH Globalist, and for a good reason (the benefits are incredible). However, Hyatt's footprint is tiny. So, if they don't have properties in the areas you want to go, then it won't matter.
@bella5000819 сағат бұрын
Great info. I just signed up!
@831piper7 ай бұрын
Valuable information thanks
@MarkReese7 ай бұрын
You bet 👍
@DidIDoThaat7 ай бұрын
Keep up the great work!
@MarkReese7 ай бұрын
Thanks, will do!
@espi1007 ай бұрын
Thank you for this. Could you do AMEX too😃
@MarkReese7 ай бұрын
I've got a bunch of "Watch Me Apply" videos with Amex business credit cards. Just search "Mark Reese Watch Me Apply" on KZbin and you'll see them.
@MarkReese7 ай бұрын
Here are 3 of them... HH Business: kzbin.info/www/bejne/l2OugqRveNGpiKs Blue Business Cash: kzbin.info/www/bejne/Z2qmdmlmZb9sjsk Blue Business Plus: kzbin.info/www/bejne/eZOunJqKos-niK8
@anthonywilliams94157 ай бұрын
Thanks for the useful information!!
@MarkReese7 ай бұрын
You're welcome!
@sankofabey8736 ай бұрын
Thank you very much for sharing 🤗🥰
@MarkReese6 ай бұрын
You're welcome!
@shawn.credit6 ай бұрын
I just grabbed a GM Business Rewards card making it make 6th business card! ✊
@MarkReese6 ай бұрын
Congrats!
@victorward359025 күн бұрын
Hi Jeffrey, thank you for your helpful video. I was hoping to get a business credit card for a one year old S corp (with an ein) that I have not (yet) earned any revenue with. Is it possible to do this with OUT using my personal info like my SS# and home address, but only using the business address.
@MarkReese23 күн бұрын
Hi Victor - I'm not aware of any small business credit cards issued by the largest U.S. banks that accept applications without an SSN since a personal guarantee is required. You may want to look into a separate class of cards (e.g. corporate cards) rather than small business.
@chrissan60152 ай бұрын
Im applying for business cards else where so I can meet chases 5/24 criteria
@cygen_divine15707 ай бұрын
Great content, subscribed
@MarkReese7 ай бұрын
Much appreciated! 🥇
@gelin8606 ай бұрын
Will these report to personal credit if applied as a sole proprietor?
@MarkReese6 ай бұрын
None of the business cards from the following issuers will report to your personal credit if you apply as a sole prop: - Chase - Citi - Amex - Barclays - U.S. Bank - Bank of America
@a3sully2 күн бұрын
I am going to try with Chase. I am a sole prop and have an ein number, but it needs to be updated with current address, etc. What documents would Chase need to see if you are trying to get a business card?
@youtubemaster42826 ай бұрын
Can you use gross income PROJECTIONS?
@MarkReese6 ай бұрын
Read the terms on the application. If it says anything related to estimating how much you can reasonably expect to make in a year, then yes.
@burmy15524 ай бұрын
This is the question I was looking for. Thanks.
@CERBERUS-gv6tn5 ай бұрын
Question I find myself the owner of 6 LLCs that didn't actually start the way I wanted it to bar in good standing 1. Mobile bakery 2. Power washing 3. Credit consulting 4. Debt purchasing 5. Micro credit lending 6. Homeless support service Your recommendation for est. business credit? 🤔
@MarkReese5 ай бұрын
Recommendation for...? A business card? For which business?
@CERBERUS-gv6tn5 ай бұрын
Yes All of them! Personal credit score is 720 thus far 5 accounts will be used for funding using the issued credit from each bank. And with the credit lending business, I'm going full time. Doable?🤔
@MarkReese5 ай бұрын
@@CERBERUS-gv6tn - If funding is the purpose, then you'd likely want to focus on 0% APR. Look into the Amex Blue Business Plus. Here's my affiliate link to learn more about it (scroll down, it's currently the 8th card on the list): markscreditcards.com/businesscards Be sure to take a calculated approach to funding a business via credit cards (i.e. have a sound plan for revenue generation).
@edbabits40932 ай бұрын
So if you product change from the Boundless to the Ritz Carlton Card. You would need to wait 1 or 2 years to readd the Boundless? Also would you be entitled to a welcome bonus again for the Boundless?
@MarkReese2 ай бұрын
Not sure. If you have the Ritz-Carlton Credit Card, you can apply for the Bonvoy Boundless and get the bonus offer. What I don't know is if Chase keeps track of the original clock / timeframe from the first Bonvoy Boundless to the Ritz then back to Boundless. I would assume they do, so I'd personally do this: - Open Bonvoy Boundless - Wait 12+ months - Upgrade to Ritz - Wait 12+ months - Apply for Boundless I can't guarantee this works though as I haven't tried it.
@edbabits40932 ай бұрын
@@MarkReese Good stuff! I have had the Boundless for many years, but not sure to get the Ritz Carlton Card. I like the elite night for every $5000.00 you spend with the Boundless. Also have the Brilliant.
@ronaldoquiroz10234 ай бұрын
Is there any differences between choosing EIN and SSN for Tax ID type? for example any drawbacks in personal taxation or higher risk of application denial
@MarkReese3 ай бұрын
I don't have data to suggest an answer to that.
@travelwithmarcos6 ай бұрын
Great video , one question , my LLC name is different from my name any problem to apply ?
@MarkReese6 ай бұрын
No problem at all, in fact, that's expected. This video only demonstrated applying as a sole proprietor, which is why the name was identical.
@alphaomega92366 ай бұрын
HOW much credit can you get? can you pay a down payment for a second house?
@MarkReese6 ай бұрын
There's no maximum limit that applies to everyone across all cards. It depends on things like credit score, income, revenue, and other factors. I'm not aware of lenders that will accept down payments on a credit card.
@ebonymixon715 күн бұрын
I don’t know about houses… but my credit score is low and I just got approved for another car and I have a current car loan
@lenniamartin5 ай бұрын
I bank with Chase so it would be really odd for me to all of a sudden apply for a business card and all I make each month is $1100🤦🏾♀️
@MarkReese5 ай бұрын
Having revenue and an existing relationship could work in your favor. I cannot guarantee any outcome, however.
@adamrobertson41776 ай бұрын
Do you need an account with the banks
@MarkReese6 ай бұрын
No. It could help with an approval, especially with Bank of America and U.S. Bank, but not required.
@darreinwhitesr38132 ай бұрын
Isent Identity theft is when any Company without Permissible purpose, to sale or use your information about you?
@MarkReese2 ай бұрын
www.usa.gov/identity-theft
@zinnymg117 күн бұрын
Hi, the American blue business plus is asking for my social security number. Will it ask for my back information?
@MarkReese17 күн бұрын
Correct, you need to provide your SSN for the Amex BBP application. You do not need to provide bank account info.
@joser.770214 күн бұрын
@MarkReese I Recently Applied for a CLI on my BBP & THEY asked me for 3 months Business Banking Sratement Which I did not have a business bank account I sent my personal NFCU banking & was NOT Accepted for the CLI. The same with Opening a Business Checking Account with BMO....So Yes Open A Business Checking Account Before You apply for any Business CC so you don't have any issues when you need or want a CLI...I'm going on my first month of putting my business earning in my new Amex Business Checking Account But it's a hassle to use the debit card to feed them,Can't make cash Deposit.
@topofall19923 ай бұрын
When You use your SSN, do they report to your personal credit or no? That's kinda weird. I got two B.C.C and they don't report to my personal cuz I applied for them using my EIN and personal guaranteeing them. But using just your SSN, I don't know about that. Will they report your balance and payments to your personal credit score or no? Thanks.
@MarkReese3 ай бұрын
No. Whether using an SSN or EIN, most small business credit cards from most major banks do not report to your personal credit report.
@Danielrodriguez-sj1jd5 ай бұрын
Hey Mark me and my wife we are starting a business we don’t need too much . What is the best approach to a business loan I guess
@MarkReese5 ай бұрын
Hi Daniel - I haven't applied for a business loan, so that's not something I can comment on at this time.
@Venturer7883 ай бұрын
Hey Mark, Is it true that Chase business credit cards that are opened using your personal SSN are considered personal credit cards for the purposes of the 5/24 rule? I’m seeing some reports of this online.
@MarkReese3 ай бұрын
Unless something changed just recently, then no, that's never been the case. I have 5 Chase business cards obtained via SSN and none of them appear on my personal credit report, therefore, they cannot count towards 5/24.
@DouglasJamesEatingShow5 ай бұрын
What spend would qualify to receive the sign-up bonus on a business credit card? Would it need to be spending for the business or could it be my every day spend that would qualify me to get the sign up bonus on a business credit card?
@MarkReese5 ай бұрын
Per the card agreement, the card is only to be used for business expenses. However, people have also put personal expenses on business cards without an issue as there isn't a way for a bank to know the purpose of a purchase. That said, putting personal expenses on a business card is not something I encourage people to do.
@anselmoribeiro7365 ай бұрын
Thanks for the video and information! I have a question; perhaps, you can help. I hoping to create a business credit building company so that I can help people around my local community build business credit. Wondering if you know anyone in the industry who can help?
@MarkReese5 ай бұрын
I don't. Good luck though!
@sanityseclipse-kgs40064 ай бұрын
can u make this guide for the bank of america cards, its a bit different.
@MarkReese4 ай бұрын
Thanks for the suggestion, but that's not a video I intend to make at this time. I've made other videos of my applying for Bank of America business credit cards. Here's 1: kzbin.info/www/bejne/b3e3ZmWahNysja8 Here's another: kzbin.info/www/bejne/oJfMZIKQesqopNU
@Keto_Mike26 күн бұрын
Do they give you instant approval or is it usually take time to approve. Im worried i applied but said under review 😢
@MarkReese26 күн бұрын
It varies widely. Under review simply means their computer system could not arrive at an immediate decision and an underwriter needs to review the application manually.
@Keto_Mike26 күн бұрын
@@MarkReese ahh thank you! I've been doing Instacart, door dash, spark, flex etc. for years had no idea I could open a business account. Diving deep into the channel to find more information!
@iranie49815 ай бұрын
Will I receive a hard inquiry when I apply for this card?
@MarkReese5 ай бұрын
Yes. A possible exception is if you already have a card relationship with Amex, then they may do a soft pull for additional cards you get with them. It's not guaranteed, though.
@marvrus7 ай бұрын
Hi Mark, this quests not related to the video. I got the Caesar diamond status by watching your video and now the Caesar diamond only match to MGM pearl. With your expertise and knowledge, is there other way to get MGM gold by matching Wyndham diamond to other status?
@MarkReese7 ай бұрын
Not that I'm aware of.
@lisamichelle52387 ай бұрын
What sort of income verification or documentation do the banks usually require?
@MarkReese7 ай бұрын
Credit score requirements aren't published. In my experience, documentation is rarely requested (more commonly from Barclays and U.S. Bank). If so, they may want to see proof of address and proof of business (e.g. Certificate of Filing or Articles of Incorporation).
@MrDoubtful420697 ай бұрын
Does this pull from your personal credit?
@MarkReese7 ай бұрын
Yes, see 15:37 in the video.
@bionichustla100Ай бұрын
so what if I have an ein but not physical business Do I use ein as sole proprietorship.
@MarkReeseАй бұрын
That's more of a legal question for how your business is set up and run. I can't comment on that. I'd probably use the same tax ID (that is, EIN or SSN) that I used to open a business checking account.
@aronrampersadАй бұрын
Thanks! Approved for 7k
@MarkReeseАй бұрын
Congrats!
@chrissan60152 ай бұрын
I applied for a personal card on 7/28 which put me at 5 24 but hasnt hit my account yet on 8/29 can I apply for the business account as long it doesnt hit my account?
@MarkReese2 ай бұрын
Definitely possible! Chase can only count the cards that appear on your report against you.
@eli37263 ай бұрын
Great info 👍
@juliem95084 ай бұрын
They do a hard pull on your personal credit?
@MarkReese4 ай бұрын
Yes.
@fig6maq7 ай бұрын
I charged my online curriculum course on my personal credit card. Could I have it transferred to my business credit card?
@MarkReese7 ай бұрын
No, you cannot move a transaction from one card to another.
@paulineallen315127 күн бұрын
How many of these cards require a personal guarantee? Not a good idea! Because, if you’re borrowing money for your business using a credit card that says you’re personally guaranteeing the debt, that means if your business can’t pay back the money it borrowed, you are responsible for paying it back with your own personal money. So, even if the business fails, you're still on the hook for the debt.
@MarkReese26 күн бұрын
All of them do, which is the case for many small business credit cards.
@AM-nm1oe7 ай бұрын
Hey Mark, if you close your LLC what happens to the business credit cards under that llc. Also how strict is chase for business apps?
@MarkReese7 ай бұрын
Frankly, I'm not sure. I've seen data points from others that their cards kept working (likely because they're still linked to the individuals via SSN, which was entered on the application). I personally would close the card(s) for a dissolved LLC. However, I'd also call the bank & ask directly, since again, I'm not 100% sure. I've not gone through that experience. You could also ask the bank if they can switch the EIN # to a new business or to your SSN as a Sole Prop. I also don't have a way of rating Chase's strictness, so I can't comment on that either.
@AM-nm1oe6 ай бұрын
@@MarkReese I'm at 8/24 and really want to get that Hyatt business card before next year. I've heard mixed things about if it matters anymore for chase business cards
@nevillewhite34514 ай бұрын
Different banks do it differently. Some don't check but who knows for how long.
@arnopetersoneshotbbqАй бұрын
Doesn't mean a thing if you have jacked up credit!!
@MarkReeseАй бұрын
Correct. Although score requirements are not published by the banks, a good to excellent score will likely be required.
@shenoudabekheet87017 ай бұрын
I am an uber eats driver what to chosse in the business info
@MarkReese7 ай бұрын
One option could be the following (using Chase's application as an example)... Business Category = "Transportation: Air, Ground, Pipeline, Rail, Water, Tourism, Support" Business Type = "Taxi and Limousine Service" Business Sub-Type = "Taxi and Ridesharing Services Unless you can find something better, that's probably what I'd do since it ends up leading to including "Ridesharing," which is closely related.
@allstarquez56996 ай бұрын
is the spend audited?
@MarkReese6 ай бұрын
In my experience, no.
@VICKIECARPENTER-zr1pt4 ай бұрын
Thank you!🙂
@MarkReese4 ай бұрын
You're welcome!
@jeremy88293 ай бұрын
Point or benefits of a business card?
@MarkReese3 ай бұрын
Keep business expenses separate. Many business cards do not report to your personal credit report (major benefit). Get access to additional reward multipliers and/or benefits that most personal cards do not offer, accelerating your reward earning rate.
@jeremy88293 ай бұрын
@@MarkReese ya I understand that,, I mean if you don’t have a business. What would be point of business cc?
@MarkReese3 ай бұрын
@@jeremy8829 - Welcome offers, point multipliers, and the fact that they don't report to your personal profile.
@pauldurand38404 ай бұрын
And I just got turned down, that's nice, but I don't I just continually live the dream.
@MarkReese4 ай бұрын
Bummer. Did you find out the reason why?
@Onlyfansera4 ай бұрын
No biz checking or savings required?? 😲
@MarkReese4 ай бұрын
Nope!
@Rafa-wf1ex6 ай бұрын
GRACIAS MARK LIKE YOUR VIDEOS ALL WAYS
@MarkReese6 ай бұрын
Thank you!
@deec.13586 ай бұрын
Immediately NOT approved.😢 So discouraging. Oh well, I’ll throw out that 15 USC 1691a which shows that it is unlawful to deny anyone credit, and is an adverse action.👌🏽💡
@MarkReese6 ай бұрын
Did you find out the reason(s) for the denial?
@kerrybaird7396 ай бұрын
I wonder if that works for businesses or just for individuals.
@burmy15524 ай бұрын
ECOA states that lenders must state the given reason for credit denial, not that it is illegal to deny credit.
@LOVETOBEWITHYOU606 ай бұрын
So is this will give me a ding on my personal credit report?
@MarkReese6 ай бұрын
In nearly all situations, yes.
@zraverbalizeradio19783 ай бұрын
What if it’s a Trust?
@MarkReese3 ай бұрын
That's not something I'm able to comment on. Call the bank to ask directly.
@THABEATLODGE6 ай бұрын
Approved!!
@MarkReese6 ай бұрын
Congrats!
@callmeNeno7 ай бұрын
Awesome content!!
@MarkReese7 ай бұрын
Thanks!
@ogpinoyraider27496 ай бұрын
Very informative and helpful!!! Thank you so much!!! Always great content!!! 🎉🤙🏽👏🏽
@MarkReese6 ай бұрын
Glad you found the information beneficial!
@theoperator94744 ай бұрын
His backdoor is wide open
@TheAndyzilla7 ай бұрын
Pardon my ignorance. But by not having a business and putting regular spends on business cards isnt that bad? Great video my guy, new sub inbound
@MarkReese7 ай бұрын
Using business credit cards for personal expenses violates the cardmember agreement. Have people done it? Yes. Do banks know if your restaurant / utility / flight purchase was for business or personal use? No. Do I encourage people to use business cards for personal use? No. However, everyone can choose to make their own decisions.
@TheAndyzilla7 ай бұрын
@@MarkReese ah i see, thanks for the info!
@davemTX20236 ай бұрын
Do they pull your personal credit it your don’t use EIN
@MarkReese6 ай бұрын
@@davemTX2023 - Your personal credit will be pulled no matter what.
@lonz0_07 ай бұрын
So, to get a business cc you DO need a "business".....acting like you don't need to have anything and can get approved. Relax with the click bait.
@MarkReese7 ай бұрын
Yes, you "need" a "business" per the card agreement. However, are there data points of consumers with truly no business & exclusively have W2 income who got approved for business credit cards? Yes. Does that mean lying on the application? Yes. Is that something I encourage others to do? No. I simply say this because business card approvals are possible nonetheless.
@Congress.Pub.L.97-280NowActive7 ай бұрын
Yes, like all things in commerce, you need a business that everyone already has but keep calling it "personal".
@jimmydavis47356 ай бұрын
Facts. You Made Him Explain His Lie Encouraging People To Create Problems For Themselves.
@CRSALSERO7 ай бұрын
What about chase 5/24 will applying for a chase business card effect the 5/24 rule?
@MarkReese7 ай бұрын
No. For Chase business cards, you need to be below 5/24 to apply & get approved, but if approved, your 5/24 count will not change. Example: You're at 4/24, get approved for a Chase Ink card, and remain 4/24 after.
@MONCHTER237 ай бұрын
Are we going to get flag by using the business credit card on everyday use ?
@MarkReese7 ай бұрын
Very unlikely. The bank has no way of knowing if that plane ticket, restaurant meal, or miscellaneous purchase was for business or personal use. However, using a business card for personal purchases is a violation of the card agreement. That said, do people do it? Yes. Is it a behavior I encourage people to do? No. Everyone can make their own decisions though.
@DJRenee7 ай бұрын
Do not co mingle funds.
@nancycollier80546 ай бұрын
Thank you
@MarkReese6 ай бұрын
Of course!
@MrMeneya7 ай бұрын
Thank you for all the information. I learned so much from your Chanel and I have a question, to apply as a sol proprietorship do I have to have a business account and if not do you recommend someone to open a business account before applying? Thank you so much for clarifying and in the next few months I will apply for few account and I would love to use your referral. Thank you and a good beginning of the week
@MarkReese7 ай бұрын
No, having a business bank is not required prior to applying. It may help with some banks, but I don't have any data to back that up.
@topoftheworld45356 ай бұрын
What credit score do you have to have. Its all based off of your credit score
@MarkReese6 ай бұрын
Credit score requirements are not published. And no, it's not all based off your score.
@topoftheworld45356 ай бұрын
@@MarkReese well I know for Chase it has to be higher than a 640. I applied and got denied
@MarkReese6 ай бұрын
@@topoftheworld4535 - Perhaps, but a single data point isn't revelatory. I've seen data points of people with 800+ scores get denied for credit cards. Score is not everything.
@topoftheworld45356 ай бұрын
@@MarkReese the only thing I've been able to get thus far is a secured credit card. I'm beginning to think its impossible for me to obtain any kind of unsecured credit card. God bless the people it does work for
@JeffBaxterOfficial5 ай бұрын
Nice! When acquiring a business card using your social like this, will it show up on your personal credit report?
@MarkReese5 ай бұрын
With most cards from most of the big banks, no.
@texaslovelylady7 ай бұрын
What cards grant pre-revenue and what is the typical credit score for approval?
@MarkReese7 ай бұрын
I don't have a list of pre-revenue options. Credit score requirements are also not published, so I can't speak to that.
@CreasyEQ7 ай бұрын
Definitely, keeping this video in the file collection Reese Man
@MarkReese7 ай бұрын
🏆🎬
@supremeoriginalzmusicgroup31205 ай бұрын
Can I get personal help?
@MarkReese5 ай бұрын
I don't work with people 1-on-1 at this time.
@RoyaltyMusicTV6 ай бұрын
What if all your income is self-employed 1099
@MarkReese6 ай бұрын
Fill out the application in a way that represents that 💯👍
@miguelfranco60962 ай бұрын
I tried it and didn’t work
@MarkReese2 ай бұрын
What didn't work?
@miguelfranco60962 ай бұрын
@@MarkReese what you said . And it didn’t work to get a business credit card
@miguelfranco60962 ай бұрын
@@MarkReese I just got an hard inquiry t9 my credit score now
@MarkReese2 ай бұрын
@@miguelfranco6096 - The video is not called "How to get a guaranteed approval." It's about a trick to help you get business cards without a formal LLC, corporation, etc. And yes, small business credit cards nearly always pull your personal credit, resulting in a hard inquiry. So far, you were denied by the computer system. So consider calling the bank's reconsideration line to speak with a live agent & ask if the decision can be turned around.
@lenniamartin5 ай бұрын
MAY Qualify May 🤦🏾♀️
@MarkReese5 ай бұрын
Correct, there's no guarantee of an approval 👍
@MATTOxxx692 ай бұрын
Yes it will show up on your personal credit your using your ssn
@MarkReese2 ай бұрын
What are you referring to by "it"? The hard inquiry? The newly opened account?
@MATTOxxx692 ай бұрын
@@MarkReese your using your ssn so ANYTHING YOU DO IS CONNECTED TO IT.. the whole purpose of an llc or anything using and EIN IS NOT CONNECTED TO YOUR SSN ..EXCEPT WHEN YOU OPEN A BUSINESS ACCOUNT AT A BANK AND THEY HAVE TO USE YOUR ssn for your initial loan if one decides… and how are u gonna use the credit card ? If you have no business using legally can’t use the card for personal use. I’ll educate you a lil more…. U can’t use a business debit card to draw yourself cash!! It’s illegal the only way is to write yourself a business check and cash it. Anyone that connects their house , personal phone, personal bank account etc.. should not even have a rhetorical a business card or credit or anything
@jacquelynorta17327 ай бұрын
What credit score is required????
@MarkReese7 ай бұрын
Unfortunately, the score requirements aren't published by the banks.
@ulisescastillo2856 ай бұрын
Thanks let see what happen😅
@MarkReese6 ай бұрын
💯👍
@brittanybrown55516 ай бұрын
It will not let me change the EIN number in the business area
@MarkReese6 ай бұрын
What do you mean?
@suamatua1680Ай бұрын
Next time start off with good credit score before applying for business credit 😂
@FlorenceUdokpon6 ай бұрын
Great
@MarkReese6 ай бұрын
💯
@bloodmooncomix4573 ай бұрын
Question! I have an LLC that uses freelance bakers for production and deliveries So far I've acquired 12 freelances willing to to work independently under the company's name Are they allowed to get credit under my LLC business name?🤔
@MarkReese3 ай бұрын
I can't speak for all banks or all the legal implications, but I did ask a rep from American Express. He told me that yes, you can add freelancers to your account by giving them employee cards as long as they have their own SSN or passport with them.
@bloodmooncomix4573 ай бұрын
@@MarkReese Thank you! Grateful as usual! 👊😌
@jerryRp90x3 ай бұрын
Magicians?
@cheesemouse77743 ай бұрын
Using your SSN will affect your personal credit report. Not what I am looking for. Thx.
@MarkReese3 ай бұрын
It could affect your score temporarily due to a hard inquiry. Beyond that, there's no effect with many of the larger banks because the small business cards do not get reported to your personal credit report.
@courtneymarshall35916 ай бұрын
Watch It! Won't this get reported on your personal credit!? No good!
@MarkReese6 ай бұрын
Most small business cards do not get reported on your personal credit. In fact, of the 17 you saw in the intro, none of them were reported on the personal side. That said, they could report if you default on payments.
@l.a.rivasesq.88417 ай бұрын
Do business credit cards appear in your online banking page with your personal credit cards?
@MarkReese7 ай бұрын
With Amex, yes. With Capital One, yes. With U.S. Bank, yes. With Barclays, yes. With Chase, you'll need to create a separate business account, but you can combine it with your personal account later. With BOA, you'll need to create a separate business account, but you can combine it with your personal account later. With Citi, no.
@l.a.rivasesq.88417 ай бұрын
@@MarkReeseThank you very much for your thorough response!