@@slimsview9463 I wouldn't say that. She is not perfect and simply trying to be helpful. Not everything is going to go 100% as stated. There are going to be exceptions.
Maybe I fall into the exception group rather than the norm, because I applied for a credit card last year December and was instantly (5 second) approved for a credit card with a $14, 000 limit even though I stated I am retired. Interestingly, after the approval, I checked my credit score - something I had not done in over 25 years - and it was 790.
Absolutely, retirees with fair to good credit and a steady monthly income can definitely get approved for credit. The key is presenting your income and employment status in a way that aligns with what lenders expect. Instead of listing "retired," try showing that you have reliable income through investments, pensions, or other sources. This way, you’re demonstrating financial stability and reducing any potential red flags. 🙂
Thank you! I appreciate the encouragement and well wishes. I’m committed to delivering valuable insights and helping others succeed. Don’t forget to subscribe to my RU-vid channel for the latest trends and updates. Your support means a lot!
Absolutely! Credit strategies work across the board, whether in the UK or the US. The key is knowing how to leverage credit wisely for building wealth and opportunities.
Great question! What you write on a credit card application can impact your approval chances because it feeds into the initial review process, helping lenders gauge your risk level. While AI and scoring systems make the final decision, clear, accurate info helps ensure you’re evaluated fairly and don’t raise unnecessary red flags. Keep it straightforward and aligned with industry standards for the best results! 🙂
It's best not to have credit cards and fill the banks with more change. Take that money and open a brokerage/trade account, and make money instead of being a consumer of debt.
Absolutely, that's a smart move! You can grow your wealth and potentially earn more than you would with just credit cards. Thanks for bringing this up.
But you still have to buy essential things for your every day life, why not gain money back while you spend plus credit cards are more protected than debit cards. its how you use credit cards you will not go into debt. The min I swap my credit card, I transfer the funds from my checking right back to the credit card, 0 interest =)
@@Jess2daleft That's a smart approach! Earning cash back or rewards on everyday purchases while taking advantage of the added protection credit cards offer is a win-win. By paying off the balance immediately, you're avoiding interest and keeping your finances in check. Good job!
Typically, opening a business checking account requires an initial deposit ranging from $25 to $100, but this can vary by bank. It’s best to check with the specific bank for their current requirements. Peace always!
Excellent advice! Wondering if you can tell me if it's possible to get credit cards using a commercial address. I used that 5+ years ago and got approved for a few cards but now my credit reports flag that as a business address. I don't want anyone to know my residential address. Any recommendations?
Yes, you can use a commercial address for credit cards, but keep in mind that it might raise flags with some issuers since it's flagged as a business address. If you want to keep your home address private, think about using a virtual mailbox service. It gives you a real street address that you can use for personal credit card applications, helping you keep your privacy intact without drawing attention to your business address. Hope it helps.
Exactly! When applying for a business credit card, lenders primarily look at the business’s financials and credit history rather than your personal credit score. However, they might still consider your personal credit as part of the application process, especially if your business is new or has limited credit history. It’s always good to be prepared with both personal and business credit information. 🙂
B.S. Can you say conspiracy to commit bank fraud. No under writer is going to okay a credit card or loan without verifying your income. Trust me, when you can't payback the money, the prosecuting attorney will verify your income. Open up an account, foster a good relationship with the bank. They make money when you make money. Be carful with banks that do not verify, remember Lehman Brothers.
Thanks for your input! From my experience, income verification is essential in securing loans and credit. Underwriters are thorough in checking income to assess risk and ensure repayment. The advice given is meant to help applicants navigate the process smoothly and avoid issues. Building a solid relationship with your bank and being transparent is definitely smart-it benefits both sides. Banks do better when you succeed, so honesty and openness are key. Thanks for contributing to the discussion!
@@jeffmartin4238 Thanks for sharing this. I always knew that something was fishy about RU-vidrs spreading 1/2 truths to get viewers. This doesn’t apply to Noelle because she’s already established. Thanks again 🙏
The idea isn't to mislead but to present your financial situation in a way that aligns with what lenders expect. If you're earning $20k a year, it's important to be honest but also strategic. You might want to focus on highlighting your strengths and other aspects of your financial situation that could be viewed positively. The goal is to give a clear and realistic picture while also addressing potential concerns proactively.
Thought I was going to learn something useful. But, all I heard was, you talking about you, yours and yourself. You will start off talking about what to do if you have a lot of money and end about you. What happen to acknowledging the other half. Look at your video to see if you answered questions for low and middle class.
Thanks for the feedback! I love sharing strategies that fit different situations. For those in lower or middle-class positions, keep it real with your income expectations. Focus on using funds wisely-like for marketing or working capital-and make sure you’re on top of your credit report. Good advice should be accessible to everyone, and I appreciate you highlighting that!
Hello im new to your channel. Just saw your video on what not to write down on your cc aplication. You say not to put down that Im Retired.. In my case im 100 percent disable military. I get 4000 a month . No other income so what do i write down?? Any info is appreciated thank you..
Hi Noelle your channel pop up in front of me as I opened up the RU-vid.. I must say this is a very good informative information.. yes no we must know exactly what is on our credit report !!thank you for your excellent expertise financial gain and freedom to have a business,become wealth..Thank you !!God bless you !!
Knowing what's on your credit report is definitely a game-changer when it comes to financial success and building wealth. God bless you too, and best of luck on your financial journey! If you have any more questions or need further guidance, feel free to reach out. 😃
Thank you! I appreciate your comment. I’m committed to delivering valuable insights and helping others succeed. Don’t forget to subscribe to my RU-vid channel for the latest trends and updates. Your support means a lot!
Glad the advice helped! When filling out credit apps, aim for a realistic income range that matches your expenses without raising red flags. Too low or too high can both cause issues, so keep it practical and straightforward. 😉
Thanks for asking! When reporting income, choose a figure that reflects your true financial situation-something realistic that aligns with your debts and lifestyle. A range between $50,000 to $120,000 annually often works, but it should make sense with your overall finances. As for where you work, honesty is key. If you’re self-employed or own a business, listing your business name (like "Your Business Name, LLC") instead of just "self-employed" is a smart move. It’s truthful and presents stability to lenders. Remember, transparency in your financials is crucial. Misleading info can lead to complications later on.
Absolutely! that’s one way to avoid the hassle! But if you ever decide to explore the world of credit cards, just remember these tips to keep things smooth. Thanks for the comment! 😊
Noelle, that was absolutely brilliant and helpful. Love the insight you provided on the mentality of underwriters. Sharing your page with everyone I know. Thank you very, very much for the information.
I’m glad you found it helpful! If you have any more questions or need further assistance, feel free to ask. And don’t forget to subscribe to my RU-vid channel for the latest trends and tips! 😃
You're absolutely right! . It’s important to be strategic. Sharing just enough to present a solid profile, without over-disclosing, often leads to better results. Focusing on what’s relevant, like your stable income and ability to manage credit, can make all the difference. Thank you for watching!
Good evening! I'm glad you find the information helpful. While some details might be tailored to U.S. practices, a lot of the core principles on credit and financial management can definitely apply in Canada. 😃
Hi Noelle I have less than ideal credit only because I have massive student loans and high utilization on credit cards even though everything is paid on time it's huge utilization. Is it better to file bankruptcy if it's possible to remove debts ..then wait the years to build credit from there?
@@NoelleRandall1 The amount of influence you have energy wise is amazing! Please keep doing what you're doing, you are changing people's lives, you've actually changed mine.
I'm curious about the 'use of funds' section on credit card applications. What are some other good answers besides 'marketing' that are more specific to my situation?
Great questions! For the 'use of funds' section, you could also specify "business expansion," "investing in new technology," "hiring additional staff," or "scaling operations." These responses show you’re focusing on growth and operational efficiency, which lenders love to see. Keep it relevant to your actual needs for the best chance of approval! 🙂
Okay I have a question. It's not about a credit card, it's with a personal loan and being self-employed. I was very sick in the hospital for over a month in July and I started using my credit cards to pay my bills. Mind you I'm 57 years old and I make really good money but I've been declined twice now. My credit score went down because I'm at 95% of my credit card usage! I've never done that before plus I paid on time with all my bills and all my creditors that's on my credit report for the last 5 years. My credit score now is 645. Any suggestions on what I need to put down on as an example a personal loan or credit reconsolidation? I'm about to pull my hair out because now that I'm working again I have money coming in but the interest rate of course on my credit cards are outrageous and I'm scared I'm going to fall behind. Any suggestions? It would greatly be appreciated
I’m sorry you’re going through this. It must be really challenging. Given your situation, I'd recommend first pulling a copy of your credit report to ensure there are no errors and then focusing on improving your credit utilization by paying down your credit card balances as much as possible. For personal loans, emphasize your stable income and previous on-time payments to lenders, and consider a credit consolidation loan to lower your interest rates and simplify payments. Rebuilding your credit score will take some time, but staying current with payments and reducing your credit utilization will help. You might also want to reach out to a credit counselor for personalized advice. Hang in there! you’ve got this! 💪
Noelle is there a way to personally work with you? I was denied a business bank account. I feel like I need a mentor to help navigate the questions they ask.
Absolutely, I’d be happy to guide you through this! I offer one-on-one mentorship, and we can arrange a call at a time that works best for both of us. Schedule your 1-on-1 call with me and my team at callnoelle.com/book-your-strategy-session. I look forward to talking with you soon! 🥰
Thanks for sharing your thoughts! My advice comes from hands-on experience and current financial practices. In today’s fast-changing market, being honest about your income can make a big difference in getting approvals without a hitch. If you overstate or understate your income, it can really throw a wrench in the process. I’m here to offer tips that help people navigate these waters better and steer clear of any bumps along the way. 🙂
@@NoelleRandall1 Absolutely 👍🏿 words can’t express how excited and focus I am. Bout breaking generational curses and following your ground work and your blueprint to success cheers 🥂 love every bit of it🫡🫡
Absolutely, your credit score is a really strong start! It should generally qualify you for business funding, especially if you also have a solid business plan with projected income. However, lenders might look at other factors too, like your business credit profile, cash flow, and industry type. It's always a good idea to explore multiple funding options and present a clear, detailed financial projection when applying.
Great question! To snag a business credit card and line of credit, start by checking your credit score and fixing any errors, then apply with a solid business plan and realistic income details to avoid red flags. It’s all about showing you’re a reliable borrower, so keep things clear and straightforward. Hope this helps
I understand that starting out can really be tough. To boost your chances of getting a credit card or line of credit, focus on improving your credit score by paying down debt and keeping inquiries low. Consider applying for a secured credit card or a small business loan to build credit gradually. Keep that patience and persistence alive-your hard work is bound to pay off. 💪
