This is great Alec! The Qualification and Process at 8:55 really help me understand what I need for Net30 acct. I’ve been trying to build my personal and business credit for loans and by far your channel is the best in building credit 💳🏦🤩
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?
Excellent video. Thank you. Just subscribed. I will look into joining your community. I am just starting a sole proprietorship, will upgrade to LLC later. I’m doing freelance bookkeeping, which I know does not get a lot of need for funding, however I may also have another business for flipping or marketing. I have been looking at top end credit unions for getting a business account, however, what bank do you recommend developing a relationship with for future business credit and financing, if I may ask? I will see if you have another video on this subject.
@@nessawalker4907 each vendor is different but most of them require a minimum spend of $80 for it to be significant enough to report to the business bureaus
So how did you miss how much of a line they will give you with these. Id like to know. Isnt the pre existing $9k limit requirement something to cherish. How much will these net30's increase your business credit utilizational limit?
These will help your bank applications and getting bigger limits but there are still many other factors that will affect you much you get approved for. Among them is your personal credit strength and the bank you are applying with.
I’ve tried every net30 that’s supposed to help you. Every one of them want you to purchase multiple times before giving invoiced accounts. I’m at 10 months in business making 20k a month. I can’t get anything. Every option is a secured account. Personal credit 610. Any insight?
Try using the net30 strategies in this video. It’ll show you how to open an account on NET30 terms and start to build business credit. If you are wanting to get business funding, you will need to fix your credit and bring it over 700+ before you can qualify.
STAY AWAY FROM THESE NET30 ACCOUNTS!! Don’t do it guys please please don’t do this. It’s a waste of time and money. I’m sad to see these You tubers making videos on this still. Repair your personal credit THEN apply for the big banks. That’s all you have to do. Do not listen to videos like these.
Hey thanks for the feedback. I do agree that fixing your credit is much more important to qualify, but building your business credit with NET30 history will help you with: - even better chances of approval - higher limits - better chances with more sophisticated debt products like loans and business lines of credit
@@alecdelpuechhe’s right. These 30 net accounts are completely redundant nowadays brother. Yes, they’ll get the business credit profile established, but EVERYTHING requires a personal guarantee now, and I do mean EVERYTHING in the business credit space. One thing you left out is that any company under 5 years of business cannot stand on its payroll own. Even has credit cards now require a pg under 5 years in business.
I agree. With my first business. I set up about 5 net 30 accounts, from quill, crown office, uline,etc. Spent hundreds of dollars and made all payments on time once I was invoiced. Did this for about 8 months and none of these vendors reported to my business credit. The process was a waste of time and money. Plus I was purchasing stuff i really didn’t need…. Stay away from this process. It only benefits these vendors because you spend money.
I am sorry sir but I respectfully disagree with you. These net 30 accounts do work. I have a Dun score of 80 as a result of using these and other Net 30 accounts. I do agree though your personal credit is very important to especially for the favorable terms.
