WEBVTT - Study Hall: Business & Personal Credit Blueprint 0:00:00.720 --> 0:00:03.960 Behind those warm and cozy nights at home, Thousands of 0:00:03.960 --> 0:00:07.760 employees at BP go to work every day. People producing 0:00:07.800 --> 0:00:11.680 more US natural gas, people building grid scale solar capacity, 0:00:12.119 --> 0:00:16.960 people turning landfill waste gas into pipeline quality renewable natural gas, 0:00:17.200 --> 0:00:20.320 and people delivering all of that power where it's needed. 0:00:20.680 --> 0:00:23.919 They're part of almost three hundred thousand jobs VP supports 0:00:24.000 --> 0:00:27.600 across the country. Learn more at VP dot com Slash 0:00:27.680 --> 0:00:29.000 Investing in America. 0:00:30.240 --> 0:00:32.200 Yes, so let's get into this. We're going to bring 0:00:32.200 --> 0:00:35.880 my brother Jose Rodriguez on. And this is something that 0:00:36.000 --> 0:00:37.920 you know, a lot of people have been asking about 0:00:37.960 --> 0:00:43.040 for a long tom and surprisingly enough, it's one of 0:00:43.080 --> 0:00:46.440 these things that you know, we've talked about business. We 0:00:46.520 --> 0:00:48.720 talked about credit a few times, but i'll earn your 0:00:48.760 --> 0:00:51.239 leashes platform as far as like the podcast, you know, 0:00:51.840 --> 0:00:54.440 we haven't really talked about business credit too much, And 0:00:54.840 --> 0:00:57.600 I feel like we haven't even spoken about credit that much. 0:00:57.640 --> 0:01:00.600 We have had a few episodes about credit. Last episode 0:01:00.600 --> 0:01:04.399 that we had about credit, what's a year ago. Yeah, 0:01:04.800 --> 0:01:08.160 I was thirteen months ago when Jose came on. That 0:01:08.200 --> 0:01:09.240 was a big episode for us. 0:01:09.240 --> 0:01:11.000 So I feel like it would be a good time 0:01:11.520 --> 0:01:12.839 to we visit that conversation. 0:01:13.000 --> 0:01:16.560 Starting twenty twenty two, off Right headed into the second 0:01:16.640 --> 0:01:19.880 quarter to talk about business credit, talk about personal credit. 0:01:19.880 --> 0:01:21.520 And there's a lot of different things that's going on 0:01:21.680 --> 0:01:23.959 in the credit space. I just reported on something today 0:01:24.360 --> 0:01:27.440 as far as you know, banks allowing people to pay 0:01:27.480 --> 0:01:29.120 their rent with credit cards and things and that. 0:01:30.120 --> 0:01:32.800 So it's a lot going on. But Jose was going on. 0:01:32.800 --> 0:01:37.280 Brother, Hey, guys, is going on? Making you be good? 0:01:37.640 --> 0:01:37.800 Yeah? 0:01:38.040 --> 0:01:39.640 Perfect? Let me tell my volume a little bit. 0:01:39.880 --> 0:01:41.479 Yeah, yeah, man, how you're good? 0:01:41.520 --> 0:01:41.840 You're good? 0:01:41.920 --> 0:01:43.280 How's it going? Awesome? 0:01:43.280 --> 0:01:43.600 Good man. 0:01:43.640 --> 0:01:45.880 I appreciate you guys. Man, appreciate it. I appreciate you 0:01:45.880 --> 0:01:48.800 guys having to me back on no no column. 0:01:48.800 --> 0:01:50.400 Man, we haven't seen you in so long, but that 0:01:50.480 --> 0:01:52.240 was just early this month we lived together. 0:01:53.120 --> 0:01:54.920 Yeah, yeah, yeah, yep, yep yeah. 0:01:54.920 --> 0:01:56.320 When I told my wife, I said, yeah, we got 0:01:56.440 --> 0:01:57.840 Jose to night for opening roll maentn. 0:01:57.960 --> 0:02:02.280 She was just like, he's just one of the nicest people, like, yeah, 0:02:02.960 --> 0:02:05.680 out five, maybe not, he might be top two, maybe 0:02:05.760 --> 0:02:08.639 not too. Just the most genuine people we I've ever met. 0:02:08.680 --> 0:02:11.760 So so you, bro, I appreciate that. Man, means a lot. 0:02:11.919 --> 0:02:13.600 I'll see the new merch going off too. We got 0:02:14.080 --> 0:02:16.400 cash debt. 0:02:16.040 --> 0:02:20.560 Cash, don't use cash, don't use debit, use the AX. 0:02:20.600 --> 0:02:22.440 And then the business credit veteran had you know, since 0:02:22.480 --> 0:02:25.440 on the military promote business credit, so I figured I 0:02:25.600 --> 0:02:26.520 switch it up a little bit. 0:02:26.840 --> 0:02:28.960 I'll start generally I like it, I like it, I 0:02:29.080 --> 0:02:29.440 like it. 0:02:30.600 --> 0:02:33.840 So, yeah, anybody that's not familiar with Jose, he's been 0:02:33.880 --> 0:02:37.520 on our platform variety of different times, from Eyo University 0:02:37.600 --> 0:02:41.200 to the podcast to U recently just did ash Cash 0:02:41.240 --> 0:02:45.400 this show Inside the Vault. And then of course you 0:02:45.440 --> 0:02:47.840 know he's been working with DJ MVY and Caesar for 0:02:47.880 --> 0:02:51.400 a long time doing real estate seminars with them, MG 0:02:51.520 --> 0:02:55.840 the mortgage guy, the whole crew. So yeah, you know, 0:02:56.520 --> 0:02:59.480 expert in the field. As Choice said, definitely one of 0:02:59.480 --> 0:03:01.680 the nicest people, but one of the most knowledgeable people 0:03:01.760 --> 0:03:04.799 as well. So you know, it's definitely one of these 0:03:04.840 --> 0:03:05.959 topics that you can. 0:03:05.800 --> 0:03:06.600 Never cover up. 0:03:06.720 --> 0:03:09.400 Credit and it's something that you know, we talk about 0:03:09.400 --> 0:03:12.480 stocks every single week literally, so we talk about credit 0:03:12.520 --> 0:03:14.320 maybe a couple of times a year. You know, anytime 0:03:14.360 --> 0:03:16.760 we get a chance to talk about credit is something 0:03:16.800 --> 0:03:20.400 that you know is extremely beneficial because nobody knows it 0:03:20.440 --> 0:03:23.720 all tlue to myself. You know, as far as especially 0:03:23.760 --> 0:03:25.480 on the business credit side, but even on the personal 0:03:25.520 --> 0:03:28.120 credit side, there's so much stuff that changes, so many 0:03:28.160 --> 0:03:32.800 different you know, new rules, regulations, different agencies, bureaus, how 0:03:32.840 --> 0:03:36.480 to check your credit, how not to get you know, 0:03:36.600 --> 0:03:40.480 your credit identity taken and that can ruin your credit. 0:03:40.280 --> 0:03:42.120 How to leverage it, how to use it in the business. 0:03:42.160 --> 0:03:44.160 Then, like we're doing these things in real time, but 0:03:44.160 --> 0:03:45.840 we're learning from exercise. 0:03:46.440 --> 0:03:48.080 So that's that's that's why it's important. 0:03:48.360 --> 0:03:49.800 Yeah, extremely important. 0:03:50.160 --> 0:03:52.320 So so yeah, so I'll just give the quick rundown 0:03:52.360 --> 0:03:53.360 then we could just get into it. 0:03:53.480 --> 0:03:56.240 So what this is. We do this once a month 0:03:56.520 --> 0:03:58.160 and it's called open enrollment. 0:03:58.240 --> 0:04:01.160 So ey L University is a platform that we started 0:04:01.640 --> 0:04:05.200 and that is our private school as far as the 0:04:05.320 --> 0:04:07.960 education is concerned. Obviously everybody knows what we do. We're 0:04:07.960 --> 0:04:11.200 earning your LEAGI on market, Mondays, podcasts, Instagram, all that 0:04:11.200 --> 0:04:16.480 stuff every day free. But EUYL University is offline and 0:04:16.560 --> 0:04:20.120 that's hands on, twelve thousand students in there, earners in there, 0:04:20.240 --> 0:04:22.280 and that's we have a book club, movie club, I 0:04:22.360 --> 0:04:25.600 do my financial planning calls, MG does biweekly real estate. 0:04:25.400 --> 0:04:28.080 Calls, and one of the things that we have is 0:04:28.120 --> 0:04:28.480 we have. 0:04:28.400 --> 0:04:32.600 Weekly classes where it's a more hands on approach like Zoom, 0:04:32.600 --> 0:04:35.440 where people get to ask questions and you know, interact 0:04:35.800 --> 0:04:38.599 and different things of that nature. So we have what's 0:04:38.600 --> 0:04:40.920 called open and rollment to show people like what Eyo 0:04:41.040 --> 0:04:43.839 University is all about, and we do that the last 0:04:43.880 --> 0:04:46.040 Wednesday of the month. So the last Wednesday of the 0:04:46.080 --> 0:04:48.000 month is that, you know, we just pick a different topic. 0:04:48.040 --> 0:04:52.080 We've done real estate, we've done stock charts, options, you know, 0:04:52.160 --> 0:04:54.240 we've done pretty much everything with the opening rollments, but 0:04:54.279 --> 0:04:55.400 we haven't done really credit. 0:04:55.480 --> 0:04:57.040 So this is this is what this is going to be. 0:04:58.560 --> 0:04:59.640 So we'll go over this. 0:04:59.680 --> 0:05:02.120 We you can talk about Eyo University a little bit 0:05:02.120 --> 0:05:04.279 more in detail later on. I will drop the link 0:05:04.320 --> 0:05:07.680 for anybody that wants to join the Eyo University. But yeah, 0:05:07.680 --> 0:05:09.159 I don't even always too much time. I want to 0:05:09.200 --> 0:05:11.720 just get into it, and I know Jose got a 0:05:11.760 --> 0:05:15.880 lot to talk about, so yeah, let's let's let's get it. 0:05:15.880 --> 0:05:18.360 Hey, we got to mention that Jose is actually a professor. 0:05:18.680 --> 0:05:21.880 Oh yeah university. One of our prestiges ten your stieges, 0:05:21.920 --> 0:05:24.599 a ten yured professor is just that good. 0:05:24.960 --> 0:05:28.320 Yes, yes, yes, Jose, the floor is yours brother. 0:05:28.800 --> 0:05:31.880 Awesome man, Thank you guys. Once again. I appreciate you 0:05:31.920 --> 0:05:32.919 guys and your leisures. 0:05:32.960 --> 0:05:33.320 Definitely. 0:05:34.240 --> 0:05:36.240 You know a platform that you know, you guys having 0:05:36.240 --> 0:05:37.880 me on it, educating it on it. 0:05:38.240 --> 0:05:40.000 I really appreciate it and uh. 0:05:39.880 --> 0:05:42.479 The honor to be on here, to to give people 0:05:42.520 --> 0:05:43.120 knowledge on the. 0:05:43.120 --> 0:05:44.239 Personal and business credit. 0:05:44.279 --> 0:05:46.720 Man. I look forward to changing some lives today. Man, 0:05:46.720 --> 0:05:48.760 So let's get into it. Uh, those are you guys 0:05:48.800 --> 0:05:50.680 that that don't know me? My name is the credit dude, 0:05:50.720 --> 0:05:53.760 Jose Rodriguez. I served my country in the Marine Corps 0:05:54.080 --> 0:05:56.320 and now I'm serving the community through credit. I own 0:05:56.360 --> 0:05:59.960 a company called God Credit because you know, we're more 0:06:00.000 --> 0:06:02.000 more than just a credit repair company. It's it's it's 0:06:02.080 --> 0:06:04.480 it's there's a lot of power, as you guys can see, 0:06:04.839 --> 0:06:09.719 in education, in actual knowledge. And the thing is is 0:06:09.800 --> 0:06:12.360 it's not so much knowing how to fix your credit. 0:06:12.920 --> 0:06:15.320 It's it's I believe there's more power and learning what 0:06:15.400 --> 0:06:17.400 to do when you fix your credit and when you 0:06:17.480 --> 0:06:18.919 get your credit to a certain point. 0:06:19.720 --> 0:06:21.320 And that's what I'm here to teach you guys. You 0:06:21.360 --> 0:06:21.719 know what I mean. 0:06:21.880 --> 0:06:24.320 I think that a lot of people don't realize that 0:06:24.400 --> 0:06:26.440 even with a six eighty seven hundred credit score, you 0:06:26.520 --> 0:06:29.159 can make a lot of money, or you can start 0:06:29.200 --> 0:06:31.440 a business. You can still work you nine to five, 0:06:32.360 --> 0:06:34.040 and you can still do a lot of damage. And 0:06:34.480 --> 0:06:35.880 I think that one of the things that I really 0:06:35.920 --> 0:06:37.559 want people to understand is you don't need a perpose 0:06:37.640 --> 0:06:39.960 credit score, like you don't need an eight hundred. Stop 0:06:40.000 --> 0:06:42.240 chasing the you know, I make a joke all the 0:06:42.279 --> 0:06:43.400 time with the new balances. 0:06:43.400 --> 0:06:44.960 You know, you put the new balances on, you got 0:06:44.960 --> 0:06:45.560 a A fifty. 0:06:45.880 --> 0:06:48.159 The thing is is you don't need an a fifty, 0:06:48.200 --> 0:06:51.400 a eight hundred, even a seven fifty to really take 0:06:51.520 --> 0:06:55.040 your life to the next level. And the reason why 0:06:55.200 --> 0:06:59.039 is is because there's something called business credit. And business 0:06:59.040 --> 0:07:00.680 credit is one of those things where a lot of 0:07:00.720 --> 0:07:04.160 people may not understand it, but it's really easier than 0:07:04.200 --> 0:07:06.640 you think. But I always tell people, in order to 0:07:06.640 --> 0:07:09.480 truly understand business credit, you do have to have your 0:07:09.520 --> 0:07:11.560 personal credit on point, because this is the thing, how 0:07:11.560 --> 0:07:13.680 do you expect to manage business credit? How do you 0:07:13.720 --> 0:07:16.440 expect to still pay a credit card or or pay 0:07:16.480 --> 0:07:18.160 a all a loan on the business side, and line 0:07:18.200 --> 0:07:20.720 of credit and SBA loan or things like that, if 0:07:20.880 --> 0:07:23.960 you're ignoring your personal credit and and and so it's like, 0:07:24.280 --> 0:07:26.760 get your personal credit to a point where it's good. 0:07:27.240 --> 0:07:29.560 And then just use it and then just leave it, 0:07:29.600 --> 0:07:29.840 you know. 0:07:29.880 --> 0:07:33.000 Just leave it alone and use that to leverage more 0:07:33.080 --> 0:07:35.640 business credit. And so I'm gonna I'm gonna go over 0:07:35.680 --> 0:07:38.600 some topics today, guys. I have I have some powerpoints, 0:07:38.880 --> 0:07:41.280 but but I really want you guys and everybody watching 0:07:41.480 --> 0:07:44.080 to realize, like what what can a business credit card do? 0:07:44.160 --> 0:07:45.920 The thing is, you guys don't know what earn your 0:07:45.960 --> 0:07:48.440 leisure does you know that you guys do events everywhere, 0:07:48.520 --> 0:07:50.400 you know what I mean. You guys are are not 0:07:50.480 --> 0:07:53.880 even nationally, you guys all over the world, you know 0:07:53.920 --> 0:07:56.680 what I mean. So it's like, imagine not having the 0:07:56.760 --> 0:08:02.120 money right now to join or or buy a course 0:08:02.320 --> 0:08:06.280 that you guys offer, or attending event that you guys 0:08:06.280 --> 0:08:09.360 are throwing. But imagine if you throw. Imagine if you 0:08:09.400 --> 0:08:11.800 open up an LLC for the simple purpose of education, 0:08:11.960 --> 0:08:14.400 and that could be your business. Your business is you're 0:08:14.520 --> 0:08:17.320 educating yourself, and who knows what could happen when you 0:08:17.400 --> 0:08:20.360 attend and earn your leisure event but if you don't, 0:08:20.400 --> 0:08:22.360 if you didn't start that business, then you were afraid 0:08:22.400 --> 0:08:25.480 to find that perfect LLC and that perfect business, You're 0:08:25.480 --> 0:08:27.440 gonna be missing out on opportunities that could have you 0:08:27.440 --> 0:08:28.680 could have had if. 0:08:28.600 --> 0:08:30.760 You would attended an event a mastermind. 0:08:31.200 --> 0:08:34.720 And that's the thing is you having a business doesn't 0:08:34.760 --> 0:08:37.240 necessarily mean you have to have all this income coming in. 0:08:37.520 --> 0:08:40.600 You can still open up an LLC and reap the 0:08:40.679 --> 0:08:44.920 rewards of meeting meeting people in certain rooms, you know 0:08:45.000 --> 0:08:47.040 what I mean. And that is the thing is where 0:08:47.080 --> 0:08:48.720 I want to just touch base with you guys today. 0:08:49.400 --> 0:08:51.440 I'm gonna share my screen. That's cool, right to share 0:08:51.440 --> 0:08:52.000 my screen. 0:08:51.800 --> 0:08:54.080 A little bit, all right? 0:08:54.080 --> 0:08:54.320 Cool? 0:08:54.920 --> 0:08:59.480 So all right, guys, so got credit follow me on Instagram, 0:08:59.640 --> 0:09:00.280 you know, or you. 0:09:00.240 --> 0:09:02.679 Leave your hashtag the biggest all right. 0:09:03.040 --> 0:09:05.839 So when you guys come in here, so I always 0:09:05.840 --> 0:09:07.199 tell people, remember why you're here. 0:09:07.240 --> 0:09:08.960 Remember why, like remember why. 0:09:08.920 --> 0:09:11.920 You're a part of E Y L. And more importantly, 0:09:13.040 --> 0:09:15.000 you guys can see me good or see. 0:09:14.800 --> 0:09:16.080 The screen good? 0:09:16.760 --> 0:09:17.360 Yeah, you're good. 0:09:17.600 --> 0:09:20.680 Okay, Remember remember why you guys are here, and remember 0:09:20.720 --> 0:09:25.280 why you guys are doing everything with attending these these 0:09:25.320 --> 0:09:29.120 types of YouTube videos. Right, it's really become the person 0:09:29.120 --> 0:09:31.640 in your family that changes the way everyone moves. 0:09:31.760 --> 0:09:32.520 And you can do it. 0:09:32.760 --> 0:09:34.600 You go full screen for us, that would be great. 0:09:35.480 --> 0:09:36.960 Full screen. Okay, let me see it. 0:09:38.920 --> 0:09:43.440 Let me see all right, my bad share screen there 0:09:43.440 --> 0:09:43.719 you go. 0:09:43.960 --> 0:09:46.679 Okay, that's top. How's that? 0:09:50.000 --> 0:09:53.400 I mean, it's a it's still like the not the 0:09:53.440 --> 0:09:58.080 full thing, but it's all right, we manage it. See yeah, 0:09:58.080 --> 0:10:00.160 I think if you hit the presentation thing at the top. 0:10:00.679 --> 0:10:01.199 I gotcha. 0:10:01.520 --> 0:10:03.480 Yeah. This is this is this is the part that 0:10:04.000 --> 0:10:04.800 my VP does. 0:10:04.880 --> 0:10:08.480 Usually I don't this type of stuff because this is 0:10:08.520 --> 0:10:10.439 this is the marine inside of me, you know what 0:10:10.480 --> 0:10:10.719 I mean. 0:10:12.240 --> 0:10:14.480 Let me see if I might have clicked like slides 0:10:14.520 --> 0:10:16.080 show all. 0:10:16.000 --> 0:10:19.040 Right, slide yeah, I don't have like a present thing 0:10:19.120 --> 0:10:19.720 or anything like that. 0:10:20.080 --> 0:10:28.880 What I always all right, let me go back to zoom. 0:10:28.920 --> 0:10:29.680 Sorry about that, guys. 0:10:29.679 --> 0:10:31.320 This is sometimes why I don't do the proud points 0:10:31.320 --> 0:10:32.880 because it's like throws me off a little bit. 0:10:34.840 --> 0:10:35.880 All right, and. 0:10:37.600 --> 0:10:37.880 All right. 0:10:38.000 --> 0:10:40.160 So the thing is, guys, when it comes to your credit, 0:10:41.600 --> 0:10:44.720 I always tell people, remember why you're doing it, and 0:10:44.800 --> 0:10:48.800 remember the most important thing is it's not about yourself, 0:10:48.920 --> 0:10:51.360 Like you should never look at credit and and kind 0:10:51.400 --> 0:10:52.120 of be selfish. 0:10:52.360 --> 0:10:53.440 You should always look at. 0:10:53.280 --> 0:10:56.400 Credit as a as A as A as a as 0:10:56.400 --> 0:11:00.160 something bigger, like for your kids and for your grandkids. Right, 0:11:00.840 --> 0:11:02.960 And the goal is to make a business so that 0:11:03.000 --> 0:11:05.560 you can buy your time back with your family and 0:11:05.600 --> 0:11:07.560 become the best person you can be. Now, this is 0:11:07.559 --> 0:11:09.920 the thing. If it wasn't for credit, it kind of 0:11:09.920 --> 0:11:12.440 goes along with everything. If you have bad credit, if 0:11:12.440 --> 0:11:15.480 you have late payments, maxile credit cards, collection charge offs, 0:11:15.600 --> 0:11:17.960 you can typically look at the rest of your life 0:11:18.240 --> 0:11:21.880 and be like, something else just isn't right, you know 0:11:21.920 --> 0:11:22.280 what I mean. 0:11:22.320 --> 0:11:25.680 So if you get your your credit right, usually. 0:11:25.600 --> 0:11:28.480 Start going to the gym, you start buying better clothes, 0:11:28.760 --> 0:11:31.120 you start looking a little bit different, you start walking 0:11:31.120 --> 0:11:31.960 a little bit different. 0:11:32.679 --> 0:11:34.200 And that's the true power. 0:11:34.640 --> 0:11:38.720 And in something just something simple as credit, you really 0:11:38.760 --> 0:11:39.880 start to move different. Man. 0:11:40.080 --> 0:11:41.920 And and a lot of people are front of those 0:11:41.960 --> 0:11:42.600 store cards. 0:11:43.080 --> 0:11:45.720 But if you have good credit, you can afford maybe 0:11:45.720 --> 0:11:48.319 a little bit of to look a little bit better. 0:11:48.440 --> 0:11:51.600 Not more expensive clothes, right, but just have a better outfit. 0:11:51.679 --> 0:11:53.680 So that way, when you go to a networking event, 0:11:53.720 --> 0:11:56.679 and whatever the case is, it's really it's really all 0:11:56.720 --> 0:11:57.680 about mindset too. 0:11:58.040 --> 0:11:58.600 You know what I mean. 0:11:59.280 --> 0:12:02.520 I always tell people cash is king, but credit is 0:12:02.520 --> 0:12:04.199 the queen. And we all know who runs the castle, 0:12:04.280 --> 0:12:06.080 right at the end of the day, the queen runs 0:12:06.080 --> 0:12:08.480 the castle. And a lot of people think that cash 0:12:08.600 --> 0:12:11.320 is king, which it is, right, it is king. But 0:12:11.679 --> 0:12:13.800 it is easier to obtain one hundred thousand dollars in 0:12:13.840 --> 0:12:16.080 credit cards than it is to save one hundred thousand 0:12:16.120 --> 0:12:16.640 dollars in cash. 0:12:16.720 --> 0:12:17.480 And that's a fact. 0:12:18.160 --> 0:12:21.560 I can bet or do a versus with anybody on that, 0:12:21.640 --> 0:12:24.520 Dave Ramsey, whoever the case is right, it is a 0:12:24.559 --> 0:12:27.880 lot easier to build one hundred thousand dollars in credit 0:12:28.320 --> 0:12:31.199 than it is to save. So the goal is always 0:12:31.240 --> 0:12:33.760 to have forty five credit cards that each have twenty 0:12:33.800 --> 0:12:35.280 to thirty thousand dollars credit limits. 0:12:35.480 --> 0:12:37.000 And that'll completely change your life. 0:12:37.400 --> 0:12:40.199 Why because now you have that one hundred thousand dollars 0:12:40.200 --> 0:12:42.920 to start your business, to retire your mom, to hire 0:12:42.920 --> 0:12:45.599 your wife, and to do so many things that I 0:12:46.400 --> 0:12:47.960 did the same thing, you know what I mean, Like 0:12:48.080 --> 0:12:51.360 retire my wife, retire my mom. Right, my brothers worked 0:12:51.400 --> 0:12:53.720 for me, like my whole family, like you put everybody on. 0:12:53.840 --> 0:12:54.960 And it all started with credit. 0:12:55.240 --> 0:12:57.719 And it really started happening when I started doing a 0:12:57.720 --> 0:12:59.880 lot of business credit, you know what I mean. So 0:13:00.880 --> 0:13:04.240 just remember guys that there's a lot of power in credit. 0:13:04.559 --> 0:13:05.000 All right. 0:13:05.240 --> 0:13:06.840 Two things real quick that I always want to go 0:13:06.880 --> 0:13:09.400 over it because I do want people to understand that 0:13:09.520 --> 0:13:13.160 when it comes to your credit, if you're late, that 0:13:13.200 --> 0:13:15.240 can affect up to one hundred and ninety two point 0:13:15.280 --> 0:13:17.640 five points. And if you max out your credit cards, 0:13:17.720 --> 0:13:19.400 that's one hundred and sixty five points. I made a 0:13:19.440 --> 0:13:21.360 post on this the other day on Instagram. So if 0:13:21.400 --> 0:13:24.360 you max out a credit card and you're late, that 0:13:24.400 --> 0:13:27.160 can affect your credit score about three hundred and fifty points, 0:13:27.440 --> 0:13:27.880 you know what I mean. 0:13:27.920 --> 0:13:30.200 So make sure that you guys are still keeping that down. 0:13:30.760 --> 0:13:33.400 And this is why business credit is so powerful, and 0:13:33.400 --> 0:13:35.760 I'm gonna I'm gonna tell you guys why. All right, 0:13:36.320 --> 0:13:39.920 number this slide right here. Make sure you guys are 0:13:40.000 --> 0:13:42.720 monitoring your credit. You can go to god Credit Monitoring 0:13:42.720 --> 0:13:45.160 dot com to go ahead and monitor your credit for 0:13:45.200 --> 0:13:48.400 like twenty bucks a months. That's your personal credit. Okay, 0:13:48.480 --> 0:13:50.920 the business there's nav dot com, which I've talked about 0:13:50.960 --> 0:13:53.240 a lot. You want to get the business boost one 0:13:53.280 --> 0:13:55.679 and then D and B which is free to get 0:13:55.720 --> 0:13:58.120 your dun's number. All right, So guys, I know, I 0:13:58.160 --> 0:14:01.320 know I went a little quick there, But the thing 0:14:01.400 --> 0:14:05.480 is is you have to realize that one how credit works, 0:14:05.640 --> 0:14:08.800 and you always have to, always, always, always have to 0:14:08.800 --> 0:14:13.480 remember that a credit score is pretty much based on 0:14:13.880 --> 0:14:16.800 what you do on your credit. So if you're maxing 0:14:16.800 --> 0:14:20.000 out credit cards, if you're always late, if you're not 0:14:20.080 --> 0:14:23.280 paying on time, that is ultimately gonna hurt your credit, 0:14:23.480 --> 0:14:25.760 you know what I mean. And if you can't get 0:14:25.880 --> 0:14:28.800 that part down on the personal side, then when it 0:14:28.840 --> 0:14:32.040 comes to the business side, you're gonna think that doesn't matter. 0:14:32.120 --> 0:14:35.760 But maintaining on time payments, guys, is key. 0:14:36.240 --> 0:14:38.600 And the easiest way you guys can do that is 0:14:38.680 --> 0:14:40.640 put everything on autopage. One of the things that my 0:14:40.640 --> 0:14:42.280 mom first taught me when I got out the Marines 0:14:42.680 --> 0:14:46.080 is put everything on auto pay. Doesn't matter if it's 0:14:46.080 --> 0:14:48.480 a twenty five dollars payment or if it's a thousand 0:14:48.520 --> 0:14:51.920 dollars payment. Put everything on autopay and you can never 0:14:52.000 --> 0:14:53.880 be late. Right, So people like, oh, how do I 0:14:53.880 --> 0:14:56.320 prevent charge offs? Well, prevent late payments? How do I 0:14:56.320 --> 0:14:59.840 prevent late payments? Prevent a late payment by putting everything 0:15:00.120 --> 0:15:01.720 auto pay, you know what I mean. So it all 0:15:01.760 --> 0:15:04.520 starts with your habits in the beginning. To that way, 0:15:04.560 --> 0:15:07.760 you never get to the to the worst part possible, 0:15:07.760 --> 0:15:10.800 which is a charge off collection judgment, and then you've 0:15:10.800 --> 0:15:11.880 got to hire people like me. 0:15:11.880 --> 0:15:14.440 To help you out. But instead, if you teach your. 0:15:14.400 --> 0:15:18.440 Kids about automatic payments, your grandkids, your cousin Denise, like, 0:15:18.480 --> 0:15:21.000 you could really change a lot of lives just with 0:15:21.080 --> 0:15:21.840 the auto payment. 0:15:22.360 --> 0:15:23.840 And it's free, all right. 0:15:24.080 --> 0:15:25.960 So, as you guys know, there's been a lot of 0:15:26.040 --> 0:15:28.720 changes in the credit world and the credit space and 0:15:28.760 --> 0:15:31.280 things like that. One of the biggest ones, guys, that 0:15:31.320 --> 0:15:34.360 we've seen this year, which is pretty crazy, and I 0:15:34.360 --> 0:15:36.160 actually like it. A lot of people don't like it 0:15:37.040 --> 0:15:39.400 because it obviously if they're due credit repair, it's it's 0:15:39.400 --> 0:15:42.240 gonna affect their business. The thing is, guys, as of 0:15:42.360 --> 0:15:46.000 July of twenty twenty two, this is probably the biggest update. 0:15:46.680 --> 0:15:50.280 As of July of twenty twenty two, paid medical collection 0:15:50.320 --> 0:15:54.080 accounts are gonna come off the credit Okay, this is big. 0:15:54.640 --> 0:15:57.440 This is a lot of what I see when people 0:15:57.560 --> 0:15:59.520 hire us to like, yeah, I pay the collection accounts 0:15:59.520 --> 0:16:01.680 two years, a three years, ago. You know, I'm able 0:16:01.720 --> 0:16:03.680 to get a proof of credit cards and mortgages whatever 0:16:03.680 --> 0:16:05.760 the case is, but I just wanted off my credit. 0:16:05.760 --> 0:16:05.920 Well. 0:16:05.920 --> 0:16:08.760 The great thing is, guys, is now medical collections are 0:16:08.760 --> 0:16:12.000 gonna come off your credit if you pay them. That's powerful. 0:16:12.040 --> 0:16:14.960 Why because even after July of twenty twenty two, if 0:16:14.960 --> 0:16:17.880 you get a medical collection on your credit report and 0:16:17.920 --> 0:16:20.560 you pay it, you don't have to get that letter 0:16:20.600 --> 0:16:23.000 anymore that says, hey, will you remove this from my credit. 0:16:23.160 --> 0:16:25.880 This is gonna change the lives of so many people 0:16:26.320 --> 0:16:30.560 that were affected either by COVID you know, unfortunately, maybe 0:16:30.600 --> 0:16:32.960 had a surgery, a code pay, whatever the case is. 0:16:33.280 --> 0:16:35.920 So if you pay, if you have paid a medical 0:16:35.960 --> 0:16:38.480 collection right now, right, a lot of people are like, oh, 0:16:38.480 --> 0:16:40.360 I'm just gonna wait until July twenty twenty two to 0:16:40.360 --> 0:16:42.520 fix my credit. Like, don't wait, because that's like four 0:16:42.560 --> 0:16:45.440 months away. You still want to jump on still cleaning 0:16:45.440 --> 0:16:46.200 those blemishes. 0:16:46.240 --> 0:16:46.440 Now. 0:16:47.040 --> 0:16:51.200 The other thing is that's big, that's big, huge, it's huge, 0:16:51.520 --> 0:16:52.840 and the key word is paid. 0:16:52.920 --> 0:16:53.080 Right. 0:16:53.120 --> 0:16:55.440 They have to pay it off in order for it 0:16:55.440 --> 0:16:56.640 to come off correct. 0:16:56.640 --> 0:16:58.440 They have to pay it because back in the day, 0:16:58.800 --> 0:17:01.280 you have to if you pay the medical collection, it 0:17:01.280 --> 0:17:03.360 would still stay on there or yet work out an 0:17:03.440 --> 0:17:06.480 arrangement with that collection agency to remove it, which we 0:17:06.520 --> 0:17:09.840 all know doesn't always work, you know what I mean. 0:17:10.200 --> 0:17:14.000 The other thing is, which is which is probably my 0:17:14.160 --> 0:17:19.280 favorite thing of this is besides the paid collections, right, 0:17:20.119 --> 0:17:23.000 is that as of early next year of twenty twenty three, 0:17:23.760 --> 0:17:28.120 any medical collections that are under five hundred dollars won't 0:17:28.160 --> 0:17:31.199 even be reported. So if you have a medical collection 0:17:31.240 --> 0:17:34.200 that's four ninety nine, five hundred dollars and below, which 0:17:34.240 --> 0:17:37.240 is a copay which is maybe just you know, the 0:17:37.800 --> 0:17:41.199 co insurance or whatever the case is, even if it's unpaid, 0:17:41.880 --> 0:17:44.800 as of early of next year, those are not going 0:17:44.880 --> 0:17:45.960 to be reported anymore. 0:17:46.240 --> 0:17:46.400 Right. 0:17:46.560 --> 0:17:49.520 So that's my favorite part of this new medical bill 0:17:49.560 --> 0:17:52.920 that came out, is that. 0:17:52.080 --> 0:17:53.960 That's another thing that we see people with, you know, 0:17:54.040 --> 0:17:56.959 two hundred dollars collection, three hundred dollars collection, four hour collection, 0:17:57.040 --> 0:17:59.480 and it drops their credit score two hundred points, one 0:17:59.520 --> 0:18:02.320 hundred points, whatever the case is. And it's a copay. Man, 0:18:02.359 --> 0:18:03.840 I just forgot to you know, howny times. I forget 0:18:03.880 --> 0:18:05.880 to pay my cope all the time, like or they 0:18:05.880 --> 0:18:09.080 send me another bill. It happens guys, it's you know, 0:18:09.119 --> 0:18:11.800 we're human. We make mistakes, and I'm glad that the 0:18:11.880 --> 0:18:18.400 credit bureaus are not are not penalizing people anymore for that, 0:18:18.760 --> 0:18:20.720 you know what I mean. So the thing is is 0:18:20.800 --> 0:18:24.200 when it comes to that earlier next year, you're gonna 0:18:24.200 --> 0:18:27.120 start seeing those medical bills come off if they're under 0:18:27.160 --> 0:18:29.199 five hundred hours. Now here's the thing, guys, who are 0:18:29.200 --> 0:18:31.840 we talking about the credit bureaus. Do the credit bureaus 0:18:31.880 --> 0:18:35.439 really report accurate information? Absolutely not. Do the credit bureaus 0:18:35.480 --> 0:18:37.840 really do what they say they're gonna do, absolutely not. 0:18:38.040 --> 0:18:40.399 So don't expect this to be a home run automatically. 0:18:40.440 --> 0:18:42.960 You know what, July twenty twenty two, everything's gonna come off, 0:18:43.040 --> 0:18:45.200 and then early next year everything under five hundred is 0:18:45.200 --> 0:18:45.760 gonna come off. 0:18:46.040 --> 0:18:47.399 It is not gonna work that way. 0:18:47.240 --> 0:18:49.680 And I promise you that the credit bureas are gonna 0:18:49.720 --> 0:18:50.159 lag on it. 0:18:50.200 --> 0:18:51.880 They're not. They're gonna take their time. 0:18:52.040 --> 0:18:55.120 Right, But they do have like algorithms right where if 0:18:55.280 --> 0:18:58.439 it meets a certain criteria, it should fall off. But 0:18:58.520 --> 0:19:01.640 do expect to see some type of laves with that. 0:19:01.720 --> 0:19:03.840 And then the other third one when it comes to 0:19:03.880 --> 0:19:07.560 this is before it would be six months before a 0:19:07.600 --> 0:19:11.800 medical collection agency or a doctor or any medical provider 0:19:12.080 --> 0:19:14.800 can send your bill to collections. It will usually be 0:19:14.920 --> 0:19:18.160 six months. Now it's twelve months. So what that means 0:19:18.240 --> 0:19:20.639 is you have an extra six months to work out 0:19:20.680 --> 0:19:24.200 an arrangement with a medical bill to prevent it from 0:19:24.200 --> 0:19:26.520 going to collections. And I always tell people this, it 0:19:26.560 --> 0:19:30.640 doesn't matter what how much you have as a medical bill. 0:19:31.160 --> 0:19:34.000 Pay twenty five or fifty dollars a month and that's it. 0:19:34.240 --> 0:19:35.879 You never really want to put that on a credit 0:19:35.880 --> 0:19:37.760 card unless you know that you're going to pay it off, 0:19:37.760 --> 0:19:40.200 because now you're paying interest on something that you could 0:19:40.240 --> 0:19:43.040 have just made some payments on right So if you 0:19:43.119 --> 0:19:46.600 have medical bills right now, guys, and they're unpaid, it 0:19:46.640 --> 0:19:50.119 won't take into effect until July of twenty two for 0:19:50.200 --> 0:19:52.080 it to be twelve months. So reach out if you 0:19:52.080 --> 0:19:54.040 have medical bills, open your mail because I suck at 0:19:54.040 --> 0:19:57.439 that sometimes too, and just open the mail and start 0:19:57.440 --> 0:20:00.280 making arrangements so that way you don't have to hire 0:20:00.320 --> 0:20:02.280 someone to fix your credit. You don't mean pay the 0:20:02.359 --> 0:20:05.520 bills on time, keep your debt low, and the medical 0:20:05.520 --> 0:20:09.400 collections is the biggest thing is pay them off because 0:20:09.640 --> 0:20:12.120 as of July twenty twenty two, they're gonna come off 0:20:12.119 --> 0:20:13.760 your credit you know what I mean. Now, I'm not 0:20:13.800 --> 0:20:16.159 saying don't dispute it, right, you still have as a 0:20:16.240 --> 0:20:18.320 right as a consumer to dispute anything that you feel 0:20:18.440 --> 0:20:22.000 is inaccurate and and could be unverifiable. So still go 0:20:22.040 --> 0:20:24.280 after them if you feel like you know you're good, 0:20:24.280 --> 0:20:26.320 because it's the thing. If you're if you're a medical 0:20:26.320 --> 0:20:30.280 bill is unpaid and over five hundred dollars, even as 0:20:30.280 --> 0:20:31.640 of next year, it's still going to be on there, 0:20:31.680 --> 0:20:33.159 So you still want to you still want to take 0:20:33.200 --> 0:20:36.240 care of it, all right. The second thing is the 0:20:36.280 --> 0:20:39.920 Wells Fargo rank card that Rashad put on his Instagram. 0:20:40.080 --> 0:20:43.240 I think it's great you still do so Wells Fargo. 0:20:43.480 --> 0:20:47.239 Right real quick, I'm gonna wrote, Wells Fargo is a 0:20:47.280 --> 0:20:49.720 creditor that does pull experience. So there's Chase, and so 0:20:49.760 --> 0:20:52.760 does American Express. A lot of your creditors that drive 0:20:52.840 --> 0:20:56.359 like a high limit are gonna pull experience. So what 0:20:56.400 --> 0:20:59.000 does that mean? Even with this credit card? It is 0:20:59.119 --> 0:21:01.840 built off of this. It's called the built rewards, so 0:21:01.960 --> 0:21:04.680 be ilt rewards pretty much. 0:21:04.880 --> 0:21:08.880 They give you the credit card and through built is. 0:21:08.920 --> 0:21:10.879 Will you get the rewards and things like that that 0:21:10.960 --> 0:21:13.200 you can convert the cash and all that stuff, right, 0:21:13.359 --> 0:21:16.000 So you still need decent credit to do this. 0:21:16.440 --> 0:21:17.240 Now here's the thing. 0:21:17.720 --> 0:21:20.680 Be careful with this because even though the credit card 0:21:20.760 --> 0:21:23.080 does come with a limit and you can use it 0:21:23.119 --> 0:21:27.480 at certain places to pay your rent, if you max 0:21:27.520 --> 0:21:29.840 it out, it is going to drop your credit score. Okay, 0:21:29.920 --> 0:21:32.119 So just be careful with that that if you get 0:21:32.320 --> 0:21:33.760 you know, don't look at it as like, oh, man, 0:21:33.760 --> 0:21:35.639 I can pay three months of rent with this and 0:21:35.680 --> 0:21:38.040 then carry the balance, because there are going to be 0:21:38.520 --> 0:21:40.679 you know, penalties if you carry a high balance, and 0:21:40.720 --> 0:21:43.679 that penalty is going to be a lower credit score. Also, 0:21:43.840 --> 0:21:46.919 if it's like to my understanding, like let's say, if 0:21:46.960 --> 0:21:49.440 it's a place like you're renting from a house, right 0:21:50.000 --> 0:21:52.440 and they don't accept the credit card, right, and you're 0:21:52.440 --> 0:21:54.679 renting from like a landlord and things like that. A 0:21:54.720 --> 0:21:57.199 lot of places that are landlords, they don't either accept 0:21:57.240 --> 0:22:00.720 cash or money order. You can still pay with the 0:22:00.760 --> 0:22:03.919 credit card online and it'll mail them a check, you 0:22:03.920 --> 0:22:05.879 know what I mean. So that's pretty dope, but a 0:22:05.880 --> 0:22:08.359 lot of places probably won't accept it, Like your higher 0:22:08.400 --> 0:22:11.560 luxury in places they're gonna accept the Wells Fogle RNT card, 0:22:12.040 --> 0:22:15.640 which is good, but just remember that, you know, keep 0:22:15.680 --> 0:22:17.439 trying to keep the utilization low. So as soon as 0:22:17.440 --> 0:22:19.720 you pay your rent with that credit card, pay the 0:22:19.920 --> 0:22:21.680 pay the amount all so that way you don't carry 0:22:21.680 --> 0:22:25.320 a high balance. The two other things that that are 0:22:25.320 --> 0:22:27.440 probably one of the two of the most important things. 0:22:27.240 --> 0:22:28.040 Is to be careful. 0:22:28.080 --> 0:22:32.160 For guys, there's a lot of credit repair industry companies 0:22:32.200 --> 0:22:35.600 in this in this world right got credit can't do 0:22:35.680 --> 0:22:37.720 it all, you know what I mean. And I always 0:22:37.760 --> 0:22:41.400 say collaboration is bigger than competition, like how Matt says 0:22:41.400 --> 0:22:44.080 and anything like that. So guys, if you're doing credit repair, 0:22:44.800 --> 0:22:46.800 this is kind of like a warning. Not for me, 0:22:47.200 --> 0:22:49.120 and I'm not gonna put up the article to put 0:22:49.160 --> 0:22:52.080 anybody on blasts. But there was a company in Texas 0:22:52.119 --> 0:22:55.679 that was shut down for doing these two things, charging 0:22:55.760 --> 0:22:59.960 up front and providing their consumers tradelines. Okay, if you 0:23:00.119 --> 0:23:01.680 want to google it, I'm not going to bring it 0:23:01.760 --> 0:23:03.679 up because I don't feel like I don't want to 0:23:04.800 --> 0:23:07.880 do this on this platform where anybody that's on there, 0:23:08.000 --> 0:23:08.919 you know, the got in trouble. 0:23:09.080 --> 0:23:09.840 But just google it. 0:23:09.960 --> 0:23:12.320 FTC halts credit a pair company and it'll come up 0:23:12.480 --> 0:23:16.639 Federal Trade Commission, right, So just be careful with this 0:23:16.680 --> 0:23:18.200 because I know there's a lot of people that want 0:23:18.200 --> 0:23:19.920 to do credit. They want to do credit repair, and 0:23:20.160 --> 0:23:21.800 it's a really good industry to be in because you 0:23:21.800 --> 0:23:22.520 can change. 0:23:22.320 --> 0:23:23.040 A lot of lives. 0:23:23.560 --> 0:23:27.040 Just be careful with offering up front payments, meaning if 0:23:27.080 --> 0:23:29.439 you're charging people the same day that they sign up 0:23:29.480 --> 0:23:32.240 with you, just be careful with that, guys. And if 0:23:32.240 --> 0:23:34.520 you're enrolling with a company that charges the same day, 0:23:34.920 --> 0:23:36.000 be careful with that too. 0:23:36.320 --> 0:23:36.480 Right. 0:23:36.680 --> 0:23:38.680 There's usually a grace period as to when you can 0:23:38.720 --> 0:23:41.760 cancel and then you can charge that first payment or 0:23:41.760 --> 0:23:45.240 whatever the case is, and that's usually what the law allows, 0:23:45.520 --> 0:23:48.639 which is called CROW the Credit Repair Organizations Act, and 0:23:48.680 --> 0:23:51.080 then trade lines. Be careful with that too, you know 0:23:51.119 --> 0:23:53.240 what I mean. Like it's one of those things that 0:23:53.960 --> 0:23:56.080 you know, it's a grey area, but a lot of 0:23:56.080 --> 0:23:58.480 people that are getting in trouble are people that offer 0:23:58.560 --> 0:24:01.800 both up front payments and I'm not saying you can 0:24:01.840 --> 0:24:04.320 do either or if you're doing credit apair, just be 0:24:04.359 --> 0:24:07.280 careful because this industry, you know, it's it's I breathe 0:24:07.280 --> 0:24:10.680 and eat, and sleep it. So just be careful with 0:24:10.960 --> 0:24:13.760 doing things because not only a you're gonna be jeopardizing yourself, 0:24:13.800 --> 0:24:15.720 but I hate to see people get in trouble for 0:24:15.760 --> 0:24:18.840 stuff that could have been avoided, you know what I mean. 0:24:18.880 --> 0:24:21.800 So just just be very very careful with what. 0:24:21.640 --> 0:24:24.560 You're doing and how you're changing people's lives, because this 0:24:24.640 --> 0:24:27.560 industry can not only hurt the people that you're helping, 0:24:27.880 --> 0:24:29.880 but it could land you in jail. And you don't 0:24:29.920 --> 0:24:31.119 want to be the one that's in front of a 0:24:31.160 --> 0:24:33.240 newspaper or article that you got in trouble. 0:24:33.560 --> 0:24:33.879 Okay. 0:24:34.000 --> 0:24:35.960 The other thing with personal credit, you always want to 0:24:36.080 --> 0:24:38.240 use it to maximize for business credit. 0:24:38.320 --> 0:24:39.520 And that's what I mentioned before. 0:24:39.640 --> 0:24:42.520 All right, so guys, an alternative to building business credit 0:24:42.840 --> 0:24:45.800 to tradelines, Right, you guys can take a screenshot of this. 0:24:45.840 --> 0:24:48.080 I'm gonna give you guys my email address if you 0:24:48.080 --> 0:24:51.639 guys do want to copy the slides. All these cards, guys, 0:24:53.280 --> 0:24:56.600 are good cards to get to build credit. You gotta 0:24:56.680 --> 0:24:59.160 have a foundation, You gotta have some type of credit cards. 0:24:59.200 --> 0:25:00.200 You got to have something. 0:25:00.359 --> 0:25:02.600 You can't just expect the seven to fifty credit score 0:25:02.640 --> 0:25:05.560 with one credit card. Unfortunately, it's not the way it works. 0:25:05.800 --> 0:25:07.960 You can't expect to have an eight hundred credit score 0:25:08.119 --> 0:25:10.280 if you're eighteen, you know what I mean. You can't 0:25:10.320 --> 0:25:12.560 expect to have it an eight hundred credit score or 0:25:12.600 --> 0:25:15.480 seven fifty credit score if you're twenty seven thirty and you. 0:25:15.560 --> 0:25:18.280 Just started building your credit. You know what I mean. 0:25:18.480 --> 0:25:21.159 So these all, all of these accounts, guys take a 0:25:21.200 --> 0:25:25.200 screenshot of it self. Lender to save these account kickoff. 0:25:25.240 --> 0:25:27.120 They give you a five hundred dollars limit to buy 0:25:27.119 --> 0:25:30.680 something on their website. Grain it goes off of your 0:25:30.760 --> 0:25:34.120 checking account. Everybody should know who Capital one is. They 0:25:34.160 --> 0:25:37.240 give Starter Cards up to three thousand dollars, the Pedal 0:25:37.280 --> 0:25:42.040 Card up to ten thousand dollars, the Tomo Card Extra card, 0:25:42.119 --> 0:25:44.840 and the X one Those typically will go off of 0:25:44.880 --> 0:25:47.280 your bank account. So what does that mean? That means 0:25:47.320 --> 0:25:50.760 that if you have a personal checking account, which which 0:25:50.800 --> 0:25:52.960 believe it or not, a lot of people don't get 0:25:52.960 --> 0:25:55.639 a personal checking account, right If you owe money in 0:25:55.720 --> 0:25:58.200 check systems, if you ain't disputed it and you didn't 0:25:58.400 --> 0:26:01.280 and it didn't come off pay check systems. Check systems 0:26:01.359 --> 0:26:04.399 is the third party reporting agency that reports anything that 0:26:04.440 --> 0:26:08.720 you owe to banks and nowadays guys, our generation, our community. 0:26:09.000 --> 0:26:12.200 Right, they use cash app, they use Venmo. 0:26:12.320 --> 0:26:15.800 Why do you think they're putting all these protections and 0:26:15.840 --> 0:26:18.160 things like that on Venmo and cash apt because people 0:26:18.160 --> 0:26:20.560 were abusing it. Get a checking account. How do you 0:26:20.600 --> 0:26:23.080 expect to buy a house, get a mortgage, start a 0:26:23.119 --> 0:26:25.199 business if you don't have a checking account. Get a 0:26:25.280 --> 0:26:29.200 checking account. It's one of the sometimes the hardest things 0:26:29.240 --> 0:26:30.600 to do, but it's the easiest thing. 0:26:30.440 --> 0:26:34.440 To do, Okay. Pedal, Tomo, I mean a Tomo Extra 0:26:34.560 --> 0:26:35.880 card and X one. 0:26:36.200 --> 0:26:38.600 These are all credit cards that are typically going to 0:26:38.640 --> 0:26:40.879 approve you based on if if you have a really 0:26:40.880 --> 0:26:44.240 good checking account history and they don't run your credit. 0:26:44.720 --> 0:26:47.640 X one is the only one that runs your credit afterwards. 0:26:47.800 --> 0:26:50.760 And Solo's pedal, so they'll preapprove you. And if you 0:26:50.800 --> 0:26:53.399 get pre approved good these So if you look at 0:26:53.440 --> 0:26:56.760 it ten thousand, ten thousand, five thousand, five thousand, three 0:26:56.760 --> 0:26:59.040 thousand up up to Capitol one a thousand with grain, 0:26:59.280 --> 0:27:01.679 you're looking at twenty to thirty thousand dollars. Guys, and 0:27:01.760 --> 0:27:04.719 these startup credit cards. You don't need secure credit cards. 0:27:04.840 --> 0:27:08.120 You don't need to do tradelines. And this is the thing. 0:27:08.160 --> 0:27:10.520 A lot of people do tradelines because they're in patient. Guys, 0:27:10.760 --> 0:27:13.600 like you messed up your credit, you gotta wait, you 0:27:13.640 --> 0:27:14.879 know what I mean, You gotta wait your turn, Like 0:27:14.920 --> 0:27:17.800 you can't expect to have great credit overnight. Be a 0:27:17.840 --> 0:27:20.000 little bit patient, and I promise you that you're gonna 0:27:20.040 --> 0:27:21.239 get to where you gotta get to. 0:27:21.600 --> 0:27:23.120 Just put in the work, you know what I mean. 0:27:23.119 --> 0:27:23.440 You can't. 0:27:23.440 --> 0:27:27.639 There's no fast there's no pill to fast track good health. 0:27:28.040 --> 0:27:31.120 And there really is no secret letter or secret account 0:27:31.119 --> 0:27:33.960 that's gonna fast track you the good credit the right way. 0:27:34.359 --> 0:27:37.639 The last two accounts, guys, Pentagon Federal and Digital Federal 0:27:37.680 --> 0:27:41.360 Credit Union. These are two great accounts to have, especially 0:27:41.400 --> 0:27:43.640 if you're looking for a checking account and things like that. 0:27:43.760 --> 0:27:46.120 You could open up with five dollars and they give 0:27:46.320 --> 0:27:48.720 really good limits when it comes to even people that 0:27:48.840 --> 0:27:52.080 have subpart credit and subpart credit, guys, is like six 0:27:52.400 --> 0:27:54.600 hundred and six to twenty things like that. All right, 0:27:54.840 --> 0:27:57.520 So those ten accounts, guys, should get you to a 0:27:57.520 --> 0:28:00.159 point where if you have no credit at all, those 0:28:00.200 --> 0:28:01.879 are ten accounts that you can use right now to 0:28:01.920 --> 0:28:02.680 apply for credit. 0:28:03.320 --> 0:28:05.840 Take a screenshot for the ones that say bank account 0:28:05.960 --> 0:28:07.680 is like is there a minimum minimum you need to 0:28:07.720 --> 0:28:09.480 have inside the account, like maybe five hundred or a 0:28:09.480 --> 0:28:10.840 thousand dollars to get approved. 0:28:11.680 --> 0:28:14.359 It's crazy because I've seen people with no money in 0:28:14.359 --> 0:28:15.200 the account. 0:28:14.920 --> 0:28:16.840 But have good history get approved. 0:28:17.080 --> 0:28:19.160 And then I see people that have two thousand dollars 0:28:19.200 --> 0:28:22.240 in the bank one time and then have negative history before. 0:28:22.800 --> 0:28:23.840 So it's as long. 0:28:23.720 --> 0:28:26.840 As you don't have like a lot of negative balances 0:28:26.880 --> 0:28:29.119 in the bank account, you should be good. But you 0:28:29.160 --> 0:28:31.080 typically want to have at least a little bit of 0:28:31.119 --> 0:28:32.439 cash in there for when you apply. 0:28:32.520 --> 0:28:34.080 So that way, the can you know, give you a 0:28:34.080 --> 0:28:37.040 good limit perfect, you know what I mean. And then 0:28:37.280 --> 0:28:37.760 and then the. 0:28:37.720 --> 0:28:40.040 Thing is, if you don't have a bank account, get 0:28:40.040 --> 0:28:43.680 one with Pentagon Federal or Digital Federal Credit Union. You 0:28:43.720 --> 0:28:47.120 could do these all online and then open up a 0:28:47.120 --> 0:28:49.960 bank account, throw some money in there, do your direct deposit, 0:28:50.040 --> 0:28:52.560 and then apply apply with X one extra and Tomo 0:28:52.880 --> 0:28:53.600 and boom, now. 0:28:53.480 --> 0:28:54.880 You've got three credit cards. 0:28:54.920 --> 0:28:56.760 Like a lot of clients are getting a proof of 0:28:56.760 --> 0:28:58.800 fifty five hundred, ten thousand, you know what I mean, 0:28:58.960 --> 0:29:01.560 seventy five hundred. That's a game changer right there, because 0:29:01.600 --> 0:29:04.280 now you have access to credit that you didn't have 0:29:04.320 --> 0:29:08.080 to do with the tradeline or or a secure credit card. 0:29:08.120 --> 0:29:09.520 The worst thing you can do is get a secure 0:29:09.560 --> 0:29:11.320 credit card for five thousand dollars. 0:29:11.560 --> 0:29:14.720 Don't don't ever think you need to do that. All right, 0:29:14.920 --> 0:29:16.440 So guys, get. 0:29:16.320 --> 0:29:18.120 Your personal credit up, and guess what. If you have 0:29:18.240 --> 0:29:21.440 good personal credit, you can pre qualify with Wells Fargo, 0:29:21.520 --> 0:29:27.640 Bank of America, Chase, Capital One, American Express, Discover and 0:29:27.680 --> 0:29:29.760 they'll you could just go on their website, right on 0:29:29.840 --> 0:29:31.760 each of these companies websites and say, hey, I want 0:29:31.760 --> 0:29:34.600 to pre qualify before I actually apply for you. Next thing, 0:29:34.600 --> 0:29:36.520 you know you have good credit, Boom. Now you get 0:29:36.520 --> 0:29:40.040 a thirty thousand dollars Chase card, a fifteen thousand dollars Discover, 0:29:40.280 --> 0:29:41.880 three or four American Express cards. 0:29:41.880 --> 0:29:43.320 Boom. Now you're building. 0:29:42.960 --> 0:29:45.480 Your personal credit up so that way, when you start 0:29:45.480 --> 0:29:49.040 building business credit, it's a complete game changer, you know 0:29:49.080 --> 0:29:51.280 what I mean. It's a complete it's a complete, complete 0:29:51.280 --> 0:29:52.120 game changer, guys. 0:29:52.360 --> 0:29:55.440 And with business credit, here's the thing. When you when 0:29:55.520 --> 0:29:57.760 you really start. 0:29:57.400 --> 0:30:00.360 Focusing on the business credit and you get your personal 0:30:00.400 --> 0:30:03.200 credit to a point where it's good. Like I said, 0:30:03.280 --> 0:30:05.720 six eighty seven hundred guys, it doesn't need to be perfect. 0:30:06.640 --> 0:30:10.800 You really start moving differently, You really start to attract 0:30:10.960 --> 0:30:14.880 different people in your life because you're on a different mindset. Right, 0:30:15.080 --> 0:30:19.560 if you're focused on attending masterminds and attending events, going 0:30:19.600 --> 0:30:22.560 to invest vests, going to ear and you leisure workshops, right, 0:30:23.120 --> 0:30:26.160 and you might not have a business yet, but you're 0:30:26.240 --> 0:30:28.040 paying to get in certain rooms. 0:30:28.360 --> 0:30:29.560 You start try. 0:30:29.560 --> 0:30:31.720 Like you start looking at the people you grew up with, like, man, 0:30:31.720 --> 0:30:33.800 this guy hasn't done nothing like the last ten years. 0:30:33.880 --> 0:30:36.520 No wonder why I'm not even doing anything because I'm 0:30:36.720 --> 0:30:39.880 I'm around the wrong people. And and your credit can 0:30:40.160 --> 0:30:43.760 literally get you into rooms that you never thought possible. 0:30:44.160 --> 0:30:46.520 But your credit can get you in there. Why you 0:30:46.520 --> 0:30:49.360 can sponsor something. You can get a high level VIP ticket, 0:30:49.600 --> 0:30:52.360 you can travel first class and meet something like you 0:30:52.400 --> 0:30:54.280 know how many people I've met in the first class 0:30:54.840 --> 0:30:57.960 that were doctors, that were pharmacists, that were this, and 0:30:57.960 --> 0:31:00.320 they're like, yo, man, here's here's my car. Like I 0:31:00.360 --> 0:31:01.760 want to improve my credit. You know, I have a 0:31:01.800 --> 0:31:03.280 lot of medical debt or I have a lot of 0:31:03.320 --> 0:31:06.280 student loans. And you never know who you're gonna meet. Right, 0:31:06.600 --> 0:31:09.760 And with business credit, you can leverage your personal credit 0:31:10.000 --> 0:31:13.360 for higher limits. So, like I was saying before, it's 0:31:13.360 --> 0:31:15.480 easier to build one hundred thousand dollars credit. 0:31:15.640 --> 0:31:17.680 So imagine if you build your personal. 0:31:17.360 --> 0:31:20.840 Credit to like thirty or forty thousand dollars limits, you 0:31:20.880 --> 0:31:22.800 get to a certain point and then boom, you open 0:31:22.880 --> 0:31:25.840 up your LLC. Now you start traveling, you start going 0:31:25.880 --> 0:31:27.960 to earn your leisure events, you start going to masterminds, 0:31:27.960 --> 0:31:30.480 you start attending different events, and then there you're like, 0:31:30.520 --> 0:31:32.640 you know what, Wow, man, I'm tieding by nine to five. 0:31:32.920 --> 0:31:34.720 I already have my credit set up. I already have 0:31:34.800 --> 0:31:36.840 my business credit set up. I already have a one hundred 0:31:36.880 --> 0:31:38.880 thousand dollars on credit cards available. You know what, I'm 0:31:38.880 --> 0:31:40.080 gonna quit my nine to five. 0:31:40.560 --> 0:31:42.080 And this is the thing. 0:31:42.160 --> 0:31:44.720 Sometimes we hate our job so much that we stay 0:31:44.720 --> 0:31:46.760 there though, because we don't have anything else to do. 0:31:47.120 --> 0:31:48.000 Well, guess what, guys. 0:31:48.080 --> 0:31:51.560 Credit is a thing that can help you with making 0:31:51.600 --> 0:31:54.560 that decision to start your business. And it doesn't necessarily 0:31:54.560 --> 0:31:57.120 have to be Turo, Airbnb or real estate. There's so 0:31:57.160 --> 0:31:59.720 many other businesses that you can get into with your credit. 0:32:00.280 --> 0:32:02.560 The thing is, you can literally hide your credit card 0:32:02.640 --> 0:32:05.880 debt so now imagine you put all your credit debt 0:32:05.960 --> 0:32:07.560 on your business credit cards. 0:32:07.760 --> 0:32:09.320 When a mortgage lender runs your. 0:32:09.240 --> 0:32:13.440 Credit, you have no debt, but you have sixty thousand 0:32:13.480 --> 0:32:15.400 dollars on your business credit side. And a lot of 0:32:15.440 --> 0:32:17.680 people say, like, I don't really need five Amases, I 0:32:17.720 --> 0:32:20.240 don't need two Americans, I don't need this. Well, guess what, 0:32:20.840 --> 0:32:23.480 your credit score does need it. Because you can get 0:32:23.520 --> 0:32:25.880 these credit cards and still pay for the same things 0:32:25.920 --> 0:32:28.120 that you will with a personal credit card. Put it 0:32:28.160 --> 0:32:30.320 on the business side, and then now when you go 0:32:30.320 --> 0:32:32.800 get a house, you have zero debt. You qualify for 0:32:32.840 --> 0:32:35.960 a bigger house. You qualify your debt to income ratio 0:32:36.120 --> 0:32:39.320 was lower, and you're in a better position. You also 0:32:39.440 --> 0:32:41.760 maximize your loan approvals. Your all the loan approvals. 0:32:41.840 --> 0:32:42.000 Right. 0:32:42.400 --> 0:32:46.000 So now the crazy thing is is, over the last 0:32:46.080 --> 0:32:49.400 like four years, guys, I had high interest all the 0:32:49.520 --> 0:32:52.480 loans because my debt was high. I'm not afraid to 0:32:52.520 --> 0:32:54.640 admit it. The credit dude had a high credit card debt. 0:32:55.400 --> 0:32:58.000 And you know what I mean. I'm human, you know 0:32:58.040 --> 0:32:58.400 what I mean. 0:32:58.560 --> 0:33:02.680 But when I've really started with business credit, everything started 0:33:02.680 --> 0:33:05.920 shifting to my business credit side. And now all I 0:33:05.960 --> 0:33:08.640 have on my personal credit report is one auto loan. 0:33:09.000 --> 0:33:11.760 As you guys know, Range Rover. They still require to 0:33:11.760 --> 0:33:13.840 do a personal guarantee in the business and things like that, 0:33:14.040 --> 0:33:16.720 so it still shows up on my personal credit but 0:33:16.800 --> 0:33:19.480 every other car that I have is on my business side. 0:33:19.640 --> 0:33:21.760 So when I went for this house that I just bought, 0:33:22.240 --> 0:33:25.240 my income did not change. My income was the same 0:33:25.560 --> 0:33:29.520 from twenty seventeen. But guess what changed my debt. I 0:33:29.560 --> 0:33:33.000 had zero credit card debt and I had one auto loan, 0:33:33.280 --> 0:33:35.680 which was the range Rover, right, So that means that 0:33:35.760 --> 0:33:37.760 I was pre approved for like I think it was 0:33:37.800 --> 0:33:41.200 like three times the amount because I had no debt 0:33:41.280 --> 0:33:43.200 and I was able to prove that the range Rover 0:33:43.320 --> 0:33:46.600 I had was being paid for my business checking account, 0:33:46.960 --> 0:33:49.680 so that way they excluded that from my debt to 0:33:49.720 --> 0:33:52.200 income ratio. So it literally I had zero debt, I 0:33:52.240 --> 0:33:54.840 had my wife's income, I had my via income, zero 0:33:54.880 --> 0:33:56.640 money down, and then the money that I had from 0:33:56.720 --> 0:33:59.160 selling the other house, I was able to get the 0:33:59.200 --> 0:34:01.400 house of my wife dreams, you know what I mean. 0:34:01.640 --> 0:34:03.600 And that was all because I was able to hide 0:34:03.680 --> 0:34:06.880 all my debt on my business credit side. And then 0:34:06.880 --> 0:34:08.880 a lot of stuff becomes a business right off, you 0:34:08.880 --> 0:34:11.719 know what I mean. And my favorite part, guys about this, 0:34:12.160 --> 0:34:15.920 and it really is my favorite thing about business. And 0:34:15.960 --> 0:34:19.040 if it's my favorite thing about business owning. 0:34:18.719 --> 0:34:21.520 A business is health insurance. What do a lot of 0:34:21.560 --> 0:34:25.520 people in our community not have access to health insurance? 0:34:25.680 --> 0:34:28.600 Why because either their job doesn't do it or they 0:34:28.600 --> 0:34:30.280 don't think that they can get health insurance. 0:34:30.320 --> 0:34:30.919 Well, guess what. 0:34:31.360 --> 0:34:33.560 One check with your accountant and check for your attorney, 0:34:33.600 --> 0:34:36.080 right because I'm not an attorney and I'm not an accountant, right. 0:34:36.120 --> 0:34:38.960 But get in the LLC, get your EI in, get 0:34:39.000 --> 0:34:41.520 everything set up, and if you have a family, you 0:34:41.560 --> 0:34:44.839 can get health insurance through your LLC. They don't ask 0:34:44.840 --> 0:34:46.839 for income, they don't ask for anything when you get 0:34:46.840 --> 0:34:50.040 your health insurance. Right, I was paying I think eighteen 0:34:50.120 --> 0:34:54.120 hundred dollars for just Kelly and Payton when I was 0:34:54.160 --> 0:34:55.840 getting insurance through the private market. 0:34:56.400 --> 0:34:58.000 When I started doing it through the LLC. 0:34:58.520 --> 0:35:00.719 Now it's a thousand dollars, like a eleven hundred dollars 0:35:00.760 --> 0:35:03.280 a month from me Kelly and Payton. And my insurance 0:35:03.400 --> 0:35:06.360 is top notch, to the point to where when I 0:35:06.400 --> 0:35:09.319 had COVID and I was sick in the hospital, people said, 0:35:09.320 --> 0:35:10.879 do you work in the hospital. I'm like, no, why 0:35:11.000 --> 0:35:13.480 because we've never seen anybody with this health insurance. This 0:35:13.520 --> 0:35:16.440 is the health insurance that we have as hospital employees. 0:35:16.800 --> 0:35:19.279 My insurance is on point, you know what I mean, 0:35:19.440 --> 0:35:20.880 And it's all through my LLC. 0:35:20.960 --> 0:35:23.520 So now what happens. Every single payment. 0:35:23.160 --> 0:35:25.400 That I make for my health insurance through my business 0:35:25.640 --> 0:35:28.439 is one hundred percent right off. When you have health 0:35:28.520 --> 0:35:30.400 insurance your nine to five job and they take it 0:35:30.400 --> 0:35:31.520 out of your paycheck, that's. 0:35:31.360 --> 0:35:34.000 Not a write off. That company's writing it off. 0:35:34.200 --> 0:35:36.160 Well, now if you have health insurance and you get 0:35:36.160 --> 0:35:38.880 an LLC, you can write that off. And that's what 0:35:38.880 --> 0:35:41.240 I'm saying. Just check with your account, check with your attorney, 0:35:41.400 --> 0:35:44.560 because this is a big benefit also to getting a 0:35:44.600 --> 0:35:48.440 business right, So guys, start that LLC right. 0:35:48.840 --> 0:35:50.759 Creating an LLC is a lot cheaper than you think. 0:35:50.840 --> 0:35:51.920 You have a lot of resources. 0:35:51.920 --> 0:35:54.600 You go to legal Zoom as attorneys in in earn 0:35:54.640 --> 0:35:56.560 your leisure right, or you can just go on your 0:35:56.560 --> 0:35:59.360 webs on the state website and do it yourself, you 0:35:59.360 --> 0:36:02.120 know what I mean. Use your personal credit to secure 0:36:02.200 --> 0:36:04.480 higher limits and then just leave your personal credit alone 0:36:04.680 --> 0:36:07.440 because there's a lot of power and business credit. Guys, 0:36:07.200 --> 0:36:10.800 there's so much power that you think, all right, high limits. 0:36:10.960 --> 0:36:12.040 You can get a line of credit. 0:36:12.080 --> 0:36:14.759 There's a there's a company called Fundbox f U N 0:36:14.880 --> 0:36:19.000 D b o X Fundbox that you can apply for 0:36:19.040 --> 0:36:21.040 a line of credit with them and they'll say, hey, 0:36:21.040 --> 0:36:22.719 you can either get a line of credit or we'll 0:36:22.760 --> 0:36:24.799 give you a loan and you can choose which one 0:36:24.840 --> 0:36:27.320 you want, and it's all based off of the revenue 0:36:27.360 --> 0:36:30.600 that's going into your business. Right, and there's another company 0:36:30.640 --> 0:36:32.680 called blue Vine. Right, so let me just I could 0:36:32.719 --> 0:36:34.239 type this in right quick so you guys can make 0:36:34.239 --> 0:36:35.040 sure you spell it right. 0:36:35.719 --> 0:36:36.560 Is Fundbox. 0:36:36.920 --> 0:36:38.439 Let me just let me just add while you're typing 0:36:38.480 --> 0:36:42.440 in Jose great information. Everybody, hit the like button. Hit 0:36:42.480 --> 0:36:45.080 the like button, show me important. If you're on your phone, 0:36:45.160 --> 0:36:47.640 just hit the X and you can see the like button. 0:36:47.640 --> 0:36:50.400 But I'll add to this business credit conversation, it is 0:36:50.560 --> 0:36:54.080 very very important business credit. As you said, the limits, 0:36:54.080 --> 0:36:56.080 Like I'll take my own personal example, or have like 0:36:56.080 --> 0:36:57.239 an eight hundred credits. 0:36:57.040 --> 0:36:57.799 Or something like that. 0:36:58.080 --> 0:37:02.320 And I don't know how much personal credit card limits 0:37:02.320 --> 0:37:05.560 I have. But let's say all together, it's like I 0:37:05.600 --> 0:37:07.759 don't know fifty thousand something like that, just throwing the 0:37:07.840 --> 0:37:10.840 number out there. But on the business side, it's pretty 0:37:10.920 --> 0:37:12.680 much on limited. So we have like an AX we 0:37:12.680 --> 0:37:14.719 have two Amex cards, one for Eyo University, one for 0:37:14.800 --> 0:37:17.800 Ernie Leisure, and it started with like they each started 0:37:17.800 --> 0:37:21.719 with like fifty thousand dollars limits and then as we 0:37:21.840 --> 0:37:23.800 use them now I don't know what the limit is. 0:37:23.520 --> 0:37:24.359 What is there a limit? 0:37:24.440 --> 0:37:26.919 Now it's like they actually we got on the phone 0:37:26.920 --> 0:37:27.480 with them last week. 0:37:27.480 --> 0:37:29.480 They actually called us because you know, they sort of 0:37:29.520 --> 0:37:31.520 the points that were accumulated and like, look, you guys 0:37:31.520 --> 0:37:34.120 could actually get more. And so I know it's probably 0:37:34.160 --> 0:37:35.640 six figures at this point because of. 0:37:36.040 --> 0:37:39.360 Meaning, so we we spend probably close to one hundred thousand, 0:37:39.360 --> 0:37:41.759 maybe over one hundred thousand dollars a month on these 0:37:41.760 --> 0:37:45.080 credit cards. Now it is extremely important to be financially 0:37:45.160 --> 0:37:47.480 responsible because like the cards that we have, we pay. 0:37:47.600 --> 0:37:49.839 We have to pay every single month. So it's not 0:37:50.000 --> 0:37:53.200 like a a gimmick where you can just you know, 0:37:53.520 --> 0:37:54.960 run up a business credit card. 0:37:55.640 --> 0:37:56.640 You still got to pay it. 0:37:56.680 --> 0:37:59.319 So don't use the credit card if you can't pay it, right, 0:37:59.480 --> 0:38:03.759 that's financial literacy responsibility, But it gives you so much 0:38:03.800 --> 0:38:06.640 more leverage than personal credits because I still don't have 0:38:06.719 --> 0:38:08.799 that kind of limit on my personal side, and I 0:38:08.840 --> 0:38:11.200 have excellent credit SCRD and I've had these credit cards 0:38:11.239 --> 0:38:14.040 for years, like over ten years, and we just got 0:38:14.040 --> 0:38:17.359 the MX cards last year and. 0:38:17.120 --> 0:38:21.000 We have over six figures that we can use. 0:38:21.320 --> 0:38:23.640 Like you know, I brought by my watches, about all 0:38:23.680 --> 0:38:25.719 my watches on a credit card because that's the only 0:38:25.760 --> 0:38:27.799 way that I can do it. Other than that I 0:38:27.880 --> 0:38:30.880 have to get like a whole like process to actually 0:38:30.880 --> 0:38:33.319 get you know, a certified check from the bank, and 0:38:33.400 --> 0:38:35.120 you know, you can't take out that kind of money 0:38:35.120 --> 0:38:37.120 from the bank, and it's a whole headache. So I 0:38:37.120 --> 0:38:38.919 could just use my MX card. Then I just pay 0:38:38.920 --> 0:38:41.320 it back right away and just transferred from my personal 0:38:41.360 --> 0:38:43.960 account to the to the business account. So having a 0:38:44.000 --> 0:38:46.480 business credit card gives you so much leverage, and as 0:38:46.480 --> 0:38:49.160 long as you use it responsibly, they up your they 0:38:49.239 --> 0:38:51.360 up your limits all the time. 0:38:52.760 --> 0:38:55.600 Yeah, yeah, man, no, man, I definitely think you hit 0:38:55.600 --> 0:38:57.800 the nail on the head with that. 0:38:58.680 --> 0:38:58.840 You know. 0:38:58.880 --> 0:39:02.440 The great thing about American Expresses, you know, I started, 0:39:03.120 --> 0:39:06.080 you know, everybody knows I found bankruptcy. American Express was 0:39:06.080 --> 0:39:08.000 in my in my thing, in my bankruptcy, whatever the 0:39:08.000 --> 0:39:09.719 case is. I finally got my credit cards back in 0:39:09.719 --> 0:39:11.920 twenty twenty. I got two of them back, and then 0:39:12.000 --> 0:39:14.719 last year I applied for six more, so I got 0:39:14.719 --> 0:39:17.359 eight MX's And when I got those other six, they 0:39:17.400 --> 0:39:20.440 started me with ten thousand dollars precess spending limits, so 0:39:20.440 --> 0:39:23.080 there was no limit butt a. You get a precess 0:39:23.080 --> 0:39:25.160 spending limit of how much you can spend per card, 0:39:25.560 --> 0:39:29.799 and right now, and that was July of twenty twenty one. 0:39:30.120 --> 0:39:33.280 We're in March of twenty twenty two and I'm already 0:39:33.320 --> 0:39:36.160 at like one fifty per card, you know what I mean. 0:39:36.200 --> 0:39:39.480 So this personal credit is not going to do that, 0:39:39.640 --> 0:39:41.759 just like Rashad said. And the great thing is you 0:39:41.800 --> 0:39:44.200 don't need it to use your run run your business 0:39:44.200 --> 0:39:47.520 credit up, so now you can actually get like imagine 0:39:47.520 --> 0:39:49.560 if you have with four cards two hundred and fifty 0:39:49.560 --> 0:39:52.200 thousand dollars each, that's a million dollars in credit. Like 0:39:52.239 --> 0:39:54.879 you can't where can you get a million dollar loan? 0:39:54.920 --> 0:39:57.120 Where can you get a million dollar line of credit? 0:39:57.280 --> 0:39:59.920 Your credit and your business credit is going to lie 0:40:00.160 --> 0:40:01.800 do it just like you said, man, just be careful 0:40:01.960 --> 0:40:04.279 when you run that up. Just make sure you pay 0:40:04.280 --> 0:40:06.319 it off, because you know you don't want to mess 0:40:06.400 --> 0:40:09.200 up your relationship with the American Express at all in 0:40:09.200 --> 0:40:09.879 any type of way. 0:40:10.120 --> 0:40:12.520 Yeah, I just I just add real quick goes because 0:40:13.000 --> 0:40:15.560 when just sold that story about business credit, I actually 0:40:15.600 --> 0:40:19.080 opened up my own LLC probably like maybe eight six 0:40:19.120 --> 0:40:22.160 to eight months ago. And because on your episode when 0:40:22.200 --> 0:40:25.640 I talked about being a personal guaranteur and having a 0:40:25.640 --> 0:40:27.440 line of credit through my parents, right, like I was 0:40:27.440 --> 0:40:29.160 an authorized user and so my. 0:40:29.120 --> 0:40:30.040 Credit history was so long. 0:40:30.080 --> 0:40:32.080 When I opened up my own LLC, the first thing 0:40:32.120 --> 0:40:33.520 they said was like, would you like a line of credit? 0:40:33.600 --> 0:40:35.839 I'm like, all right, fine, I'll just take it. When 0:40:35.840 --> 0:40:38.200 I applied for it, they automatically qualified me for fifty 0:40:38.239 --> 0:40:41.279 thousand just because of my history. Like I haven't even 0:40:41.600 --> 0:40:43.520 used the card, but just to know that I have it. 0:40:43.600 --> 0:40:45.440 This is one of those things like when you're responsible 0:40:45.640 --> 0:40:47.640 and as parents, if we're responsible and you have your 0:40:47.680 --> 0:40:49.919 kids as authorized use it and help build their credit 0:40:50.000 --> 0:40:51.879 when they go to open up the LC, that all 0:40:51.920 --> 0:40:53.520 that's going to count, right because it's a new business, 0:40:53.560 --> 0:40:56.080 so you're using you as a personal guaranteur at first, 0:40:56.200 --> 0:40:58.279 but if the credit is good, these type of things 0:40:58.320 --> 0:40:58.720 can happen. 0:40:59.120 --> 0:41:00.919 Yeah, And I think think a lot of people are 0:41:00.960 --> 0:41:04.680 scared of the word personal guarantee because they're like, oh, 0:41:04.680 --> 0:41:07.399 I want to build business credit without my credit. I'm like, well, 0:41:07.480 --> 0:41:09.359 you got to start somewhere, and if you can use 0:41:09.400 --> 0:41:11.520 your like if they say, hey, man, you got good credit, 0:41:11.560 --> 0:41:13.680 we'll give you fifty grand, Like, give me that all day. 0:41:14.040 --> 0:41:17.000 So don't be afraid to use your personal credit as 0:41:17.120 --> 0:41:21.080 leverage to get business credit because that's truly like how 0:41:21.120 --> 0:41:22.640 you're going to do it the right way with getting 0:41:22.640 --> 0:41:23.320 those high limits. 0:41:23.360 --> 0:41:23.480 Man. 0:41:23.520 --> 0:41:28.320 So that's dope, man. Congratulations, love to hear something like that. So, guys, 0:41:28.320 --> 0:41:28.680 the two. 0:41:28.640 --> 0:41:32.399 Companies that I said is Fundbox and Blue Vine. Those 0:41:32.400 --> 0:41:34.160 are two places guys that you can get a line 0:41:34.160 --> 0:41:37.239 of credit and even a loan even if you have 0:41:37.360 --> 0:41:39.480 subpar credit, right, but as long as you have some 0:41:39.520 --> 0:41:42.279 type of revenue coming through the business, you can do it. 0:41:42.560 --> 0:41:45.400 And the other area, guys, that's really good. I don't 0:41:46.160 --> 0:41:48.280 you know. I recommend Chase. I love Chase. 0:41:49.040 --> 0:41:50.920 I think they're one of the best bank accounts out 0:41:50.960 --> 0:41:53.400 there for business just because they're national and if you 0:41:53.400 --> 0:41:56.319 need anything, you can always if you're in Texas or California. 0:41:56.520 --> 0:41:58.959 You could always access to Chase Bank, right but Bank 0:41:59.000 --> 0:42:01.600 of America has a pre dope program. You open up 0:42:01.600 --> 0:42:04.839 a business checking account with Bank of America, you know, 0:42:04.880 --> 0:42:07.839 you deposit money, whatever the case is, use money, and 0:42:07.920 --> 0:42:11.279 typically after ninety days they will they will offer you 0:42:11.320 --> 0:42:12.520 a line of credit as well. 0:42:13.160 --> 0:42:15.360 And that's just access to cash. So what can you 0:42:15.360 --> 0:42:17.320 do with a line of credit? A lot of stuff. 0:42:17.480 --> 0:42:20.399 Imagine if Bank of America, Blue Line and FunBox each 0:42:20.480 --> 0:42:23.239 KB thirty thousand. Imagine if that's ninety grand right there. 0:42:23.239 --> 0:42:25.560 Imagine if each American Express Card gave you twenty five 0:42:25.560 --> 0:42:27.640 thousand to start boom, that's another one hundred thousand. 0:42:27.640 --> 0:42:29.960 Next thing you know you're at. You're at almost a half. 0:42:29.840 --> 0:42:32.719 A million dollars between personal credit, business credit, lines of 0:42:32.760 --> 0:42:34.040 credit net thirties. 0:42:34.600 --> 0:42:36.000 It's endless, you know what I mean? 0:42:36.080 --> 0:42:38.200 And that is truly like if I would have had 0:42:38.239 --> 0:42:42.040 even five thousand dollars when I opened my business, it 0:42:42.080 --> 0:42:43.160 would have been a game changer. 0:42:43.200 --> 0:42:43.800 I had nothing. 0:42:44.120 --> 0:42:46.360 I had no I have five hundred bucks, you know 0:42:46.400 --> 0:42:49.320 what I mean. So the other thing too, guys, with purchasing. 0:42:48.920 --> 0:42:50.399 The equipment, what do you need? 0:42:50.520 --> 0:42:51.000 You need? 0:42:51.440 --> 0:42:52.480 You need a computer. 0:42:52.960 --> 0:42:55.319 You need a MacBook, you need an iMac, you need 0:42:55.400 --> 0:42:58.560 photography equipment, you need a TV, you need microphones. 0:42:58.800 --> 0:43:01.080 Guys, you can do that with Apple and Dell. And 0:43:01.120 --> 0:43:02.759 the other one too that I forgot to put here 0:43:02.760 --> 0:43:04.640 as well is Amazon. 0:43:05.040 --> 0:43:09.120 Amazon offers net thirty accounts and also invoice accounts, so 0:43:09.160 --> 0:43:12.080 you could actually go on Amazon. I think everything's on Amazon. 0:43:12.120 --> 0:43:14.239 You can even buy food, clothes, whatever the case is. 0:43:14.600 --> 0:43:18.000 Amazon will actually also offer you a business credit card, 0:43:18.120 --> 0:43:21.840 not the American Express one, okay. Actual Amazon has like 0:43:21.880 --> 0:43:25.799 a store account that you can get. And imagine if 0:43:25.800 --> 0:43:28.080 now you want to start a photography business, you want 0:43:28.080 --> 0:43:30.160 to start a video editing business, you want to start 0:43:30.360 --> 0:43:33.120 any business. You need equipment, you need a computer, you 0:43:33.200 --> 0:43:37.840 need good equipment. Dell, Apple and Amazon are three places 0:43:37.840 --> 0:43:40.520 that you can literally get credit, okay. And if you 0:43:40.560 --> 0:43:43.360 got to use a personal guarantee to get it, it's okay, 0:43:43.719 --> 0:43:46.640 it doesn't matter. And also, guys, the other one, you 0:43:46.680 --> 0:43:51.000 guys can just google this. Walmart is it's called Walmart 0:43:51.080 --> 0:43:56.960 Community Card. They're giving right now, the Walmart Community Business Card, okay, 0:43:57.400 --> 0:44:00.239 is giving right now. I believe it's anywhere between five 0:44:00.600 --> 0:44:03.920 to ten thousand dollars. I think everybody goes to Walmart. 0:44:03.400 --> 0:44:06.480 I don't really don't know anybody that doesn't go to Walmart. Okay, 0:44:06.719 --> 0:44:09.239 but Walmart will give you anywhere between five to ten 0:44:09.280 --> 0:44:11.719 thousand dollars, no personal guarantee. 0:44:11.840 --> 0:44:15.160 So this is another great credit card to have to build. 0:44:14.880 --> 0:44:16.960 Your business credit. What do they have at Walmart? Bestarts 0:44:17.000 --> 0:44:19.839 closing food? They have TVs, they have video equipment, they 0:44:19.840 --> 0:44:23.200 have cameras, they have iPhones, they have you know, blenders, 0:44:23.239 --> 0:44:25.399 they have everything, pots and pans. If you're a cooking 0:44:25.480 --> 0:44:27.920 you want to start a cooking business, whatever the case is, 0:44:28.600 --> 0:44:31.680 if you want to start a bakery business is endless. 0:44:31.680 --> 0:44:31.879 Guys. 0:44:31.920 --> 0:44:34.120 You got to think outside the box when it comes 0:44:34.160 --> 0:44:38.480 to starting a business, and that's truly what business credit does. 0:44:38.680 --> 0:44:41.319 It allows you to think outside the box. Net thirty 0:44:41.360 --> 0:44:44.040 accounts are great, right, I still love Net thirty accounts. 0:44:44.840 --> 0:44:47.440 I've done a lot of videos for aerin your Leisure 0:44:48.320 --> 0:44:50.520 on which type of Net thirty accounts to get. There's 0:44:50.520 --> 0:44:53.320 the U lines, there's those type of credit cards with guys. 0:44:53.680 --> 0:44:57.680 Gas cards is a game changer, like like, look, I 0:44:57.760 --> 0:44:58.400 just got that. 0:44:58.480 --> 0:44:59.680 This is one of the credit cards I have. 0:45:00.040 --> 0:45:04.680 It's called Fuman, right, Feuman gave me twenty five thousand 0:45:04.680 --> 0:45:06.239 dollars credit card. 0:45:06.520 --> 0:45:07.040 You know what I mean? 0:45:07.239 --> 0:45:10.759 What what you need, what you're gonna get. You ain't 0:45:10.760 --> 0:45:13.040 gonna use twenty five thousand dollars in gas, you know 0:45:13.040 --> 0:45:15.279 what I mean. But the great thing is is if 0:45:15.280 --> 0:45:17.279 you have sales reps, if you have drivers, if you 0:45:17.280 --> 0:45:19.000 have other people working for you, whatever the case is, 0:45:19.360 --> 0:45:22.560 gas is expensive. But if you that's a business expense. Hey, everybody, 0:45:22.560 --> 0:45:24.840 he's a gas card. Whatever the case is. Now gas 0:45:24.880 --> 0:45:26.799 is not an option. Hey, go to this event, do this, 0:45:26.920 --> 0:45:29.520 do whatever the case is. And it's a revolving credit card. 0:45:29.600 --> 0:45:32.360 So even if you max it out, it doesn't matter 0:45:32.520 --> 0:45:35.360 because that business credit card debt is on the business side, 0:45:35.480 --> 0:45:37.680 it's not on your personal credit. So even if you 0:45:37.760 --> 0:45:39.960 run up five thousand dollars in gas, but you know 0:45:40.000 --> 0:45:41.920 you're gonna make it back and going to the events 0:45:41.920 --> 0:45:44.680 and dropping off merch and doing this, whatever the case is, 0:45:45.320 --> 0:45:48.160 it's okay. So anytime you go to a gas station, 0:45:48.600 --> 0:45:52.600 look at the actual credit cards of what they accept, 0:45:52.840 --> 0:45:57.839 whether it's wex, Feman whatever, fleet cars they accept seventy six, 0:45:57.960 --> 0:46:01.280 whild WAT seven to eleven quick Check all these places. 0:46:00.920 --> 0:46:01.600 Have gas cards. 0:46:01.600 --> 0:46:03.880 So if you eat there and you put gas in 0:46:03.880 --> 0:46:05.880 your car, why not get a gas. 0:46:05.600 --> 0:46:07.120 Card from the places? Next thing, you know, you get 0:46:07.160 --> 0:46:08.480 a sturt. Beat's right off. 0:46:08.400 --> 0:46:10.560 Because you're going there to put gases at the same time, 0:46:10.840 --> 0:46:13.040 all right. And then the last thing, guys, is putting 0:46:13.040 --> 0:46:14.600 the vehicles in your business name. 0:46:15.280 --> 0:46:16.120 If you are. 0:46:16.000 --> 0:46:19.120 Watching this and you're never gonna get a business, this 0:46:19.160 --> 0:46:20.880 is the thing a lot of people say, once again, 0:46:20.920 --> 0:46:23.279 get where your account, get with your attorney. Oh, if 0:46:23.280 --> 0:46:25.440 you don't actually have a revenue or whatever the case is, 0:46:25.480 --> 0:46:27.040 you can't really put a car in your business. 0:46:27.239 --> 0:46:28.279 There are certain places that. 0:46:28.280 --> 0:46:31.719 Still will that will still do it if you have 0:46:31.800 --> 0:46:34.600 strong business credit or you use your personal credit as 0:46:34.640 --> 0:46:37.880 a guarantee. Now, not every place is gonna do it, obviously, 0:46:37.880 --> 0:46:39.960 with some places you still gotta show bank statements. 0:46:40.000 --> 0:46:41.440 You just gotta sell personal credit. 0:46:41.480 --> 0:46:44.160 But trying to get like a you know, a car 0:46:44.200 --> 0:46:47.239 that's under like sixty seventy thousand dollars, they typically won't 0:46:47.280 --> 0:46:49.560 really bug you for a lot of paperwork, and you 0:46:49.600 --> 0:46:51.680 can use that to put touro, you can use that 0:46:51.719 --> 0:46:52.359 to rent out. 0:46:52.520 --> 0:46:53.560 You know, it's endless. 0:46:53.719 --> 0:46:57.200 So don't think that just because you don't have a 0:46:57.239 --> 0:46:59.799 business right now. But you need a car to get 0:47:00.080 --> 0:47:03.480 to start a business, or to drive to an EYL 0:47:03.480 --> 0:47:05.320 event or to drive to a networking event. 0:47:05.719 --> 0:47:07.400 If you ask me, that's you're starting. 0:47:07.400 --> 0:47:09.239 You're starting your business and you can still become an 0:47:09.360 --> 0:47:13.480 entrepreneur without having any revenue coming into your your bank account. 0:47:13.560 --> 0:47:14.960 All right, guys, So if you. 0:47:14.880 --> 0:47:17.279 Guys want to connect with me on Instagram, all right, 0:47:17.920 --> 0:47:19.640 the credit dude, You guys can just click the link 0:47:19.640 --> 0:47:21.120 in my bio or schedule a call with us if 0:47:21.120 --> 0:47:23.520 you guys can extra help. But if you guys become 0:47:23.560 --> 0:47:25.000 a part of e y L. You guys know this 0:47:25.120 --> 0:47:27.640 open enrollment. You guys get me every month and I 0:47:27.719 --> 0:47:30.520 love to educate. I love to educate, so you know, 0:47:30.640 --> 0:47:32.160 join the e y L guys and you guys have 0:47:32.239 --> 0:47:34.040 get me educating you guys every month as well. 0:47:34.840 --> 0:47:37.200 No, I appreciate that. Appreciated, brothers. So were about to 0:47:37.239 --> 0:47:39.239 go into the question and answer part. But before we 0:47:39.280 --> 0:47:41.760 do that, can you just briefly talk about for anybody 0:47:41.800 --> 0:47:43.600 I know we talked about it before before. Anybody that 0:47:43.920 --> 0:47:47.880 may be new haven't heard of it. The NAV and 0:47:48.280 --> 0:47:50.399 duns and brash you yep. 0:47:50.800 --> 0:47:54.520 So, so NAB dot com guys is uh na v 0:47:54.760 --> 0:48:00.320 dot com is the business credit monitoring uh plot, I 0:48:00.320 --> 0:48:02.600 guess I can say. So, you guys know, there's credit Karma, 0:48:03.280 --> 0:48:07.600 there's ECHOFAX monitoring, there's Experience Monitoring, things like that. So 0:48:08.160 --> 0:48:12.319 nav dot Com provides the business credit monitoring for each 0:48:12.480 --> 0:48:17.160 business credit report. There's EQOFAX, Business, Experience Business, and then 0:48:17.200 --> 0:48:20.719 there's You're done in Bradstreet. Right, So when you sign 0:48:20.800 --> 0:48:23.960 up for nav dot com Business Boost and you make 0:48:24.000 --> 0:48:26.560 your monthly payment to them, it's like forty bucks a month, 0:48:26.960 --> 0:48:29.400 they actually will report a payment to each of the 0:48:29.440 --> 0:48:33.560 business credit bureaus, so that way it actually activates each 0:48:33.560 --> 0:48:36.320 of your business credit profiles. If you have no business credit, 0:48:36.600 --> 0:48:40.920 so imagine you pay Experience dot Com thirty dollars a 0:48:40.920 --> 0:48:43.440 month and they report that payment to the personal credit 0:48:43.480 --> 0:48:46.480 reports to build your credit. It doesn't happen, it doesn't exist, 0:48:46.640 --> 0:48:50.120 but on the business side it does. We're done in Bradstreet. 0:48:50.600 --> 0:48:54.960 That is pretty much the biggest business credit reporting agency 0:48:55.120 --> 0:48:58.480 like Equifax, Experience, TransUnion, it's just the biggest one for 0:48:58.560 --> 0:49:01.800 the business side. And they have what's called the Dun's number, 0:49:02.200 --> 0:49:04.480 A Dune's number is kind of like your social kind 0:49:04.480 --> 0:49:04.919 of like your. 0:49:04.800 --> 0:49:05.239 E I N. 0:49:05.560 --> 0:49:09.000 It just classifies you as a business and it's kind 0:49:09.000 --> 0:49:12.000 of like your reporting number. So a lot of times 0:49:12.000 --> 0:49:14.759 when you apply for business credit, they're gonna ask you 0:49:14.800 --> 0:49:16.920 for a DUNS number and you can go on DMB 0:49:17.000 --> 0:49:18.799 dot com and get it for free. You don't got 0:49:18.800 --> 0:49:20.160 to pay anybody to do it. You don't got to 0:49:20.200 --> 0:49:22.400 pay dun and Bradstreet to do it. It's all free. 0:49:23.040 --> 0:49:24.759 So when when we talk about business credit, I mean 0:49:24.800 --> 0:49:26.239 when we talk about personal credit, we know that the 0:49:26.280 --> 0:49:29.680 score range goes from what three fifty to maybe a 0:49:29.800 --> 0:49:32.800 fifty right, So obviously in the business side, how is 0:49:32.840 --> 0:49:34.359 that score translated? 0:49:34.760 --> 0:49:35.240 Is different? 0:49:35.239 --> 0:49:37.240 I know, does D and B doesn't report, doesn't report 0:49:37.239 --> 0:49:38.880 the same way because it's like the E I N number. 0:49:39.200 --> 0:49:40.960 How does that score get calculated? 0:49:41.239 --> 0:49:42.920 So on the on the business on the Dune and 0:49:43.000 --> 0:49:44.920 brad Street it goes from zero to one hundred. 0:49:45.320 --> 0:49:47.520 So that's the pay that score. It goes from zero 0:49:47.640 --> 0:49:48.320 to one hundred. 0:49:48.600 --> 0:49:51.520 And typically if you pay your bills on time, you 0:49:51.560 --> 0:49:54.239 know how you have like zero thirty days before you 0:49:54.280 --> 0:49:57.239 can be late earlier early that you pay with dun 0:49:57.280 --> 0:49:59.320 and Bradstreet or the accounts that report the dune in 0:49:59.360 --> 0:49:59.880 brad Street. 0:50:00.600 --> 0:50:02.240 You either could get a ninety or one hundred. 0:50:02.239 --> 0:50:04.040 So if your bill comes in today and you pay 0:50:04.080 --> 0:50:06.520 it today, you're on track to get one hundred, right, 0:50:06.520 --> 0:50:08.840 But as long as you pay your bills within thirty days, 0:50:09.600 --> 0:50:12.759 which is the net thirty, you get an eighty on experience, 0:50:12.920 --> 0:50:15.600 it's called the Intella score, and that also goes up 0:50:15.640 --> 0:50:18.680 to one hundred. Experience also has like a risk factor 0:50:18.719 --> 0:50:20.799 of one to five, so you want to make sure 0:50:20.800 --> 0:50:23.440 that you're closer to one, and how do you get 0:50:23.480 --> 0:50:25.960 closer to one? Pay your bills on time, try not 0:50:26.000 --> 0:50:27.560 to max anything out, and that. 0:50:27.480 --> 0:50:30.640 Goes up to one hundred. Equifax business typically goes up. 0:50:30.520 --> 0:50:33.000 To like five eighty, so you really, you know a 0:50:33.040 --> 0:50:35.759 lot of people are like, oh man, my Echofax score 0:50:35.800 --> 0:50:37.920 is five hundred, Like you're fine, that's okay. That they 0:50:37.920 --> 0:50:40.520 only go up to five eighty anyway, so you're typically 0:50:40.560 --> 0:50:42.920 good and that's it. So it is a little bit 0:50:42.960 --> 0:50:45.840 of different algorithms and that's why nab dot com is 0:50:45.880 --> 0:50:48.080 so great because it gives you each of your business 0:50:48.160 --> 0:50:51.280 credit scores every month, and as you're applying for credit, 0:50:51.360 --> 0:50:53.719 net thirties, gas cards, all and loans whatever the case is, 0:50:53.920 --> 0:50:56.319 those will start hitting NAB dot com and you'll start 0:50:56.360 --> 0:50:57.960 seeing your business credit score go up. 0:50:58.360 --> 0:51:01.000 Perfect and Transusion doesn't participate in the business side. 0:51:01.200 --> 0:51:03.960 Nah, they just never got into it, Okay. 0:51:04.040 --> 0:51:06.239 So yeah, just so this is all the information that 0:51:06.280 --> 0:51:09.040 you never learned in school, and most of us just 0:51:09.120 --> 0:51:11.160 never learned period. And you go through life and you 0:51:11.320 --> 0:51:13.600 just are ignorant to this stuff because you just don't 0:51:13.640 --> 0:51:15.160 know it right, and it's not something that you usually 0:51:15.200 --> 0:51:18.560 are having a conversation with because usually your social environment 0:51:19.040 --> 0:51:21.920 it's very similar. People hang out with people similar to themselves. 0:51:22.280 --> 0:51:25.640 So millionaires hang around with millionaires. Billionaires hanging around with billionaires. 0:51:25.800 --> 0:51:28.200 People that's struggling to living day to day they hang 0:51:28.239 --> 0:51:30.560 around people are struggling living day to day. It's not 0:51:30.719 --> 0:51:32.759 something that's wrong with you, but it's just that's just 0:51:32.800 --> 0:51:33.879 what it is, right, And. 0:51:35.239 --> 0:51:37.439 This episode is brought to you by P and C Bank. 0:51:37.840 --> 0:51:40.600 A lot of people think podcasts about work are boring, 0:51:40.840 --> 0:51:44.680 and sure they definitely can be, but understanding a professionals 0:51:44.760 --> 0:51:48.000 routine shows us how they achieve their success little by little, 0:51:48.400 --> 0:51:52.040 day after day. It's like banking with P and C Bank. 0:51:52.520 --> 0:51:55.320 It might seem boring to save, plan and make calculated 0:51:55.320 --> 0:51:58.440 decisions with your bank, but keeping your money boring is 0:51:58.480 --> 0:52:01.759 what helps you live or more happily fulfilled life. P 0:52:01.880 --> 0:52:06.759 and C Bank Brilliantly Boring since eighteen sixty five. 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Come into 0:53:54.160 --> 0:53:55.200 your local store today. 0:53:55.640 --> 0:53:57.520 If you are living day to day, you are living 0:53:57.520 --> 0:54:00.279 paycheck to paycheck, you are just you know in that 0:54:00.560 --> 0:54:03.400 then that this isn't a conversation that you're really having. 0:54:04.520 --> 0:54:07.000 The conversations that you have in is a lot different 0:54:07.040 --> 0:54:09.719 than this, right, So the whole point is to actually, 0:54:09.800 --> 0:54:12.359 you know, expand your mind, even even if you don't 0:54:12.400 --> 0:54:16.399 have the friends circle that you might necessarily. 0:54:15.880 --> 0:54:16.520 Need to build. 0:54:16.800 --> 0:54:19.360 That's why we created a community where you can actually 0:54:19.480 --> 0:54:23.160 learn and get this insight, get this information, and even 0:54:23.200 --> 0:54:25.600 if you can't really fully understand or grasp everything at 0:54:25.600 --> 0:54:27.440 one time, what happens is that it's like learning a 0:54:27.480 --> 0:54:30.120 foreign language. The more you hear, the more you actually 0:54:30.160 --> 0:54:34.520 are around an environment with encouraging people, then that actually 0:54:34.560 --> 0:54:38.239 becomes more comfortable for you. So it's like anything that 0:54:38.280 --> 0:54:40.400 you do, you know, the people that you surround yourself, 0:54:40.400 --> 0:54:42.719 the information that you surround yourself with is going to 0:54:42.760 --> 0:54:46.000 determine your future. So you can, you know, watch reality TV, 0:54:46.239 --> 0:54:49.520 gossip or you know, indulge in all kinds of negativity 0:54:50.040 --> 0:54:53.600 and that's what most people do, and that's why most 0:54:53.600 --> 0:54:56.960 people will never reach the level of success that they 0:54:57.000 --> 0:55:00.000 want or you can, you know, do it very few 0:55:00.080 --> 0:55:02.719 people do. With you know, you surround yourself with positivity 0:55:03.280 --> 0:55:08.680 and education and that is really the key to unlocking 0:55:09.200 --> 0:55:12.520 your true potential in life. So that's what we did 0:55:12.520 --> 0:55:14.680 with Eyo University. As far as you know, we created 0:55:14.680 --> 0:55:17.640 a system, I mean early leisure periods a platform to learn, 0:55:17.840 --> 0:55:20.480 and eyl University is just an extension of that, just 0:55:20.560 --> 0:55:24.080 you know, pretty much on steroids where it's a community 0:55:24.160 --> 0:55:26.560 where you know, anybody can watch a podcast, anybody could 0:55:26.600 --> 0:55:28.960 be on social media, but if you're part of a community, 0:55:29.000 --> 0:55:31.560 you in zoom. We have accountability groups, we have you 0:55:31.600 --> 0:55:33.960 know groups that infinity groups inside of it. We have 0:55:34.239 --> 0:55:36.520 I do financial planning calls every single month with a 0:55:36.520 --> 0:55:38.960 couple hundred people that's tapped in. They get to ask 0:55:39.040 --> 0:55:41.080 questions and the next part of what we're going to 0:55:41.160 --> 0:55:43.360 do is different than like just what we do on 0:55:43.360 --> 0:55:46.319 a podcast where now this is actually like an interactive 0:55:46.880 --> 0:55:50.520 you know, situation where you can ask questions that's specific 0:55:50.600 --> 0:55:52.960 to your your individual question as opposed to trying to 0:55:53.000 --> 0:55:55.279 DM somebody or hit somebody in the comments. We know 0:55:55.320 --> 0:55:57.600 how hard that is to recall to answer to that, 0:55:58.040 --> 0:55:59.759 so you know, earn your leisia. We have over a 0:56:00.080 --> 0:56:03.600 hundred and fifty archive classes. We do classes every single week. 0:56:03.880 --> 0:56:05.840 We do financial planning, we do real estate, we have 0:56:05.960 --> 0:56:08.560 groups and it's just it's a community. We're gonna do 0:56:08.600 --> 0:56:12.080 live events just for eyl University members. So last time 0:56:12.120 --> 0:56:14.080 we did this, we had dropped the price to six 0:56:14.239 --> 0:56:16.160 ninety nine for the entire year, and we kept that 0:56:16.239 --> 0:56:20.200 running actually all the way to this. So that will 0:56:20.280 --> 0:56:22.880 change on Friday, because I'm gonna let everybody that here 0:56:22.920 --> 0:56:24.160 is if on the audio, We're gonna put it out 0:56:24.160 --> 0:56:26.560 on audio on Friday. But after that it'll go back 0:56:26.600 --> 0:56:28.239 up to it'll still be a discount. It'll be one 0:56:28.280 --> 0:56:30.040 thousand dollars for the whole entire year. I mean, I 0:56:30.040 --> 0:56:31.759 think that's I mean, you know, so. 0:56:31.719 --> 0:56:34.640 I said, I always am baffled by that, Like I've 0:56:34.680 --> 0:56:36.759 had some messages with my books more than that. 0:56:37.000 --> 0:56:38.359 No, it's not even it's I mean, it's not even 0:56:38.360 --> 0:56:39.520 a sales pitch. It's like, you know, if you want 0:56:39.560 --> 0:56:40.960 to be a part of it, six ninety nine for 0:56:41.000 --> 0:56:43.200 the whole year. If not, then you know, we still 0:56:43.200 --> 0:56:44.800 love it. You just you just get the free information 0:56:44.880 --> 0:56:46.480 that we just put out on YouTube. It's not it's 0:56:46.480 --> 0:56:49.640 not for everybody. It's no pressure, but that's just you know, 0:56:49.680 --> 0:56:51.840 it is what it is. So yeah, I think we 0:56:52.000 --> 0:56:54.640 that we put together one of the most impressive bodies 0:56:54.680 --> 0:56:58.520 of works that has ever been put together, and you know, 0:56:58.640 --> 0:57:01.239 at a price that is is almost free. If you 0:57:01.239 --> 0:57:04.239 really look at it from that standpoint, you know. So, yeah, 0:57:04.280 --> 0:57:06.960 I put the link in the description. We could put 0:57:07.160 --> 0:57:09.600 put the link in the uh it's penned on YouTube. 0:57:09.640 --> 0:57:11.759 Also if you want to take advantage of that. So 0:57:11.760 --> 0:57:13.799 I guess it's like forty eight hours until Friday, you 0:57:13.800 --> 0:57:16.400 can take advantage of that. Yeah, we love to see you. 0:57:16.440 --> 0:57:17.720 On the other side, we're working on a couple other 0:57:17.760 --> 0:57:19.760 things too that fully going to take eyl University to 0:57:19.800 --> 0:57:22.360 the next level. But let's get to the questions. This 0:57:22.440 --> 0:57:24.720 is my favorite part of this whole situation, where people 0:57:24.720 --> 0:57:25.439 get to ask questions. 0:57:25.440 --> 0:57:26.920 I'm back at it. I'm back at Let's see if 0:57:26.920 --> 0:57:29.080 I still got it. Soya, we're coming to you. Toya, 0:57:29.120 --> 0:57:30.920 I'm mute yourself. You've been unmuted. What's going on? 0:57:34.080 --> 0:57:35.000 Hi? Everybody? 0:57:35.160 --> 0:57:35.640 How you doing? 0:57:35.640 --> 0:57:37.520 How's it going? Oh good? 0:57:37.840 --> 0:57:41.000 I had put my questions in it Q and A, 0:57:41.160 --> 0:57:46.280 but I'll just ask like one, okay, So, as far 0:57:46.320 --> 0:57:49.600 as credit cards is it is it a bad thing 0:57:49.720 --> 0:57:52.760 to carry a zero balance on your card for a 0:57:52.760 --> 0:57:56.280 long period of time? I asked, because I've had two 0:57:56.400 --> 0:57:59.640 credit cards that I have for like eight years, and 0:57:59.680 --> 0:58:03.280 they just, like you know, at one point they reduce 0:58:03.480 --> 0:58:07.560 the limit because they said I hadn't been using them. 0:58:07.600 --> 0:58:10.200 So is it better to like keep that ten percent 0:58:10.400 --> 0:58:13.760 on there or to have a zero balance nowadays? 0:58:14.400 --> 0:58:16.919 Yep, So I do see that happen happening a lot. 0:58:17.600 --> 0:58:20.000 And I always tell people, you know, keep your credit 0:58:20.040 --> 0:58:23.760 cards on auto payment, right, and then if you know, 0:58:24.120 --> 0:58:26.400 you don't have to use every single credit card and 0:58:26.440 --> 0:58:29.240 max every single credit card out, but in order to 0:58:29.320 --> 0:58:31.880 prevent them from closing or lowering the limit on a 0:58:31.880 --> 0:58:33.880 credit card that's eight years old, five year old, what 0:58:34.000 --> 0:58:39.960 the case is. Makes And let's say if it's a 0:58:40.000 --> 0:58:42.960 store card, buy a shirt, buy a suit, and then 0:58:43.000 --> 0:58:44.640 it's on auto pay, so you know the whole thing 0:58:44.680 --> 0:58:47.200 is gonna be paid off in less than three days. Right, 0:58:47.840 --> 0:58:50.280 if it's a credit card you could use anywhere, and 0:58:50.320 --> 0:58:53.000 it's an old credit card, buy a stick of gum, 0:58:53.200 --> 0:58:56.280 buy milk, whatever the case is. You don't necessarily have 0:58:56.400 --> 0:58:59.760 to have a zero, zero, zero balance on a card, 0:58:59.840 --> 0:59:02.640 just specially that you're using, right. But the more you 0:59:02.760 --> 0:59:05.640 use a card, the higher limit you're gonna get, so 0:59:05.800 --> 0:59:07.720 eventually your credit score is going. 0:59:07.680 --> 0:59:08.320 To be higher. 0:59:08.600 --> 0:59:10.200 But with those credit cards that are kind of like 0:59:10.240 --> 0:59:11.800 BS credit cards, but you don't want to close them 0:59:11.840 --> 0:59:12.560 because of the history. 0:59:12.760 --> 0:59:14.320 Just leave them on all to pay, use them every 0:59:14.360 --> 0:59:15.040 once in a while. 0:59:15.240 --> 0:59:17.640 But also don't be afraid to use the credit cards either, 0:59:17.680 --> 0:59:19.320 if you know that that credit card is going to 0:59:19.320 --> 0:59:22.120 produce some type of return on an investment. If you 0:59:22.120 --> 0:59:23.680 have a ten thousand dollars credit card and you know 0:59:23.720 --> 0:59:25.880 that you can make twenty thousand dollars by using that 0:59:25.880 --> 0:59:28.080 ten grand, I'm gonna use the ten grand all day, 0:59:28.480 --> 0:59:31.120 and who cares if I carry a balance for thirty days, 0:59:31.200 --> 0:59:33.480 because I'm gonna get twenty thousand dollars paid off. 0:59:33.920 --> 0:59:35.640 And then you get a business credit card or whatever 0:59:35.640 --> 0:59:36.080 the case is. 0:59:36.120 --> 0:59:37.720 And that's the power what I'm saying, Like, if you 0:59:37.760 --> 0:59:40.320 get the business credit cards, it really doesn't matter how 0:59:40.400 --> 0:59:42.360 much you charge on it. But with the personal cards, 0:59:42.400 --> 0:59:43.960 put them on all to pay, use them every once 0:59:44.000 --> 0:59:45.800 in a while so that way they don't close them. 0:59:45.680 --> 0:59:47.640 Out, and you can use them for specific things. 0:59:47.640 --> 0:59:50.640 Like I'm a huge sneakerhead, and so I have an 0:59:50.640 --> 0:59:52.760 Amazon card has great rewards on it. I use it 0:59:52.880 --> 0:59:54.880 only for my ideas that like, I don't use it 0:59:54.920 --> 0:59:57.080 for anything else, and I don't buy Adidas too often. 0:59:57.360 --> 0:59:58.800 But if I do, it's just like I know that 0:59:58.920 --> 1:00:00.680 that's that credit card and it's on all the play 1:00:00.760 --> 1:00:02.920 so it's like boom, and then it builds up my 1:00:03.000 --> 1:00:04.800 points with them, and then so now I get access 1:00:04.880 --> 1:00:09.040 to a certain advantage, get access to early drops. So 1:00:09.360 --> 1:00:12.360 you could just have the credit card specifically for one thing. 1:00:12.720 --> 1:00:14.760 Yeah, it happened to me where they close the credit 1:00:14.840 --> 1:00:17.120 card and drop my credit score a little bit because 1:00:17.120 --> 1:00:17.880 I wasn't using it. 1:00:19.240 --> 1:00:20.240 So I'm gonna ask a question. 1:00:20.560 --> 1:00:23.080 Yeah, that's that's what happened to me too, Like it 1:00:23.240 --> 1:00:25.920 dropped my script my score, and I'm like, WHOA. I 1:00:26.000 --> 1:00:29.000 thought I was good because I have a zero balance. 1:00:29.520 --> 1:00:31.840 Yeah, but I mean it should go up. It should 1:00:31.840 --> 1:00:33.680 go back up pretty quickly though, right, Jose, Like, that's 1:00:33.720 --> 1:00:34.439 not something that's going. 1:00:34.360 --> 1:00:35.440 To hurt you in a long term. 1:00:35.880 --> 1:00:37.840 What if they lower the limit, if. 1:00:37.760 --> 1:00:39.920 They if they cancel your credit card because you're not using. 1:00:39.800 --> 1:00:42.320 It, Yeah, it could potentially hurt you because what you're 1:00:42.360 --> 1:00:45.320 doing is is you're lowering the available credit that you've. 1:00:46.720 --> 1:00:49.160 So what I say with that is if you have 1:00:49.480 --> 1:00:50.720 if they close that card. 1:00:50.600 --> 1:00:53.800 Out, kind of count your l it's a loss because 1:00:53.800 --> 1:00:55.560 if you try to reopen that card, they will run 1:00:55.600 --> 1:00:58.520 your credit. Another thing you could do is just visit 1:00:58.600 --> 1:01:00.880 the other credit cards that you have and see if 1:01:00.960 --> 1:01:03.480 those credit cards will give you a higher limit. Because 1:01:03.760 --> 1:01:06.600 if you're worried about inquiries, which I tell people, don't 1:01:06.640 --> 1:01:08.680 be afraid of them, because you have to run your 1:01:08.720 --> 1:01:09.440 credit sometime. 1:01:09.760 --> 1:01:11.520 But all you got to do is really just visit 1:01:11.600 --> 1:01:12.320 the other credit. 1:01:12.160 --> 1:01:13.600 Cards you have and see if they'll give you a 1:01:13.680 --> 1:01:16.840 limit increase, because that's a better option to do if 1:01:16.840 --> 1:01:18.480 they already close that card, because it's not the age 1:01:18.520 --> 1:01:21.320 of the account, but you don't have the available credit 1:01:21.400 --> 1:01:22.000 in that account. 1:01:22.360 --> 1:01:25.480 And then also the reason why it closed my account 1:01:25.520 --> 1:01:27.160 because I had I think I had too many credit 1:01:27.200 --> 1:01:29.080 cards and it was just it was too much to 1:01:29.200 --> 1:01:30.520 use them all. So a lot of them I just 1:01:30.600 --> 1:01:33.320 didn't use. So my next question is how much how 1:01:33.400 --> 1:01:34.960 many credit cards should you actually have? 1:01:36.680 --> 1:01:41.680 I tell people it really depends. Man. 1:01:41.800 --> 1:01:45.240 I mean I have here on my desk right, and 1:01:45.360 --> 1:01:49.480 this is just some of my cards. Everybody's different. I mean, 1:01:50.600 --> 1:01:54.080 these are all credit cards right here, right, These are 1:01:54.120 --> 1:01:56.680 all credit cards right here right. I mean I have 1:01:56.840 --> 1:01:59.840 like three bundles of credit cards. They all they all 1:02:00.280 --> 1:02:02.440 paid on time, some of them maxed out. I went 1:02:02.480 --> 1:02:04.080 to Disney that two credit cards are maxed out for 1:02:04.160 --> 1:02:07.440 my wife's birthday. The thing is is as long as 1:02:07.560 --> 1:02:11.080 you do not carry balances for a long period of 1:02:11.160 --> 1:02:14.200 time and they're late. I've seen people with forty credit cards, 1:02:14.360 --> 1:02:16.760 fifty credit cards, you know what I mean, as long 1:02:16.840 --> 1:02:19.040 as it becomes a business at that point trying to 1:02:19.120 --> 1:02:22.640 manage it all. But I always tell people, as many 1:02:22.720 --> 1:02:25.360 you can handle, but just don't get all those forty 1:02:25.400 --> 1:02:27.360 credit cards in a year. You're gonna have to build 1:02:27.400 --> 1:02:28.920 it up, you know, every couple of months, apply for 1:02:28.960 --> 1:02:30.720 a credit card here and there. So as long as 1:02:30.760 --> 1:02:33.919 you don't have inquiries, you know, four inquiries a month 1:02:34.360 --> 1:02:37.080 and then late payments and max doll cards. I tell 1:02:37.120 --> 1:02:39.400 people take advantage of as many credit cards as you can, 1:02:39.520 --> 1:02:41.080 hint as you can and handle. 1:02:41.320 --> 1:02:44.200 Because what if what if you lose your job one day? 1:02:44.240 --> 1:02:47.400 What if you know, something happens, and if you have 1:02:48.200 --> 1:02:50.160 hundred thousand dollars in credit cards, but you know you 1:02:50.200 --> 1:02:52.720 can only make the minimum payment that might save you 1:02:52.880 --> 1:02:55.640 from losing your house, from losing your car, or. 1:02:55.640 --> 1:02:56.400 Whatever the case is. 1:02:56.480 --> 1:02:59.240 So use credit still as also as a resource as 1:02:59.280 --> 1:03:01.800 a saving in case something bad happens. 1:03:01.840 --> 1:03:03.480 And so I always tell people. 1:03:03.520 --> 1:03:06.680 As many as you think you can handle, that you're 1:03:06.720 --> 1:03:09.000 not gonna max out. And that's a very broad question 1:03:09.080 --> 1:03:11.360 because I don't want people to be afraid to have 1:03:11.520 --> 1:03:13.600 twenty credit cards, you know what I mean, because it 1:03:13.680 --> 1:03:14.560 could save you one day. 1:03:15.800 --> 1:03:19.880 We appreciate you, Joeya, thank you. Yeah, all right, let's 1:03:19.880 --> 1:03:22.400 see where we go. Rachel, Rachel, we are. 1:03:22.400 --> 1:03:22.840 Coming to you. 1:03:23.200 --> 1:03:24.760 Mute yourself. You've been on muted? What's going on? 1:03:30.080 --> 1:03:30.320 Hello? 1:03:30.840 --> 1:03:31.480 Hey, how you doing? 1:03:31.560 --> 1:03:32.040 What's going on? 1:03:32.600 --> 1:03:32.720 Oh? 1:03:32.800 --> 1:03:34.640 I didn't know y'all were gonna pick me. I was 1:03:34.760 --> 1:03:36.400 just looking at the show. I didn't know you were 1:03:36.400 --> 1:03:36.960 gonna pick me. 1:03:37.960 --> 1:03:38.560 You got a question? 1:03:38.680 --> 1:03:41.160 Oh but I do have a question. But I always 1:03:41.240 --> 1:03:43.480 I just wanted to say this real quick. I just 1:03:43.600 --> 1:03:45.320 wanted to say that I just thank you guys for 1:03:45.400 --> 1:03:49.040 doing what you're doing. Because when I was like growing up, 1:03:49.560 --> 1:03:52.040 I'm like forty now, but when I was like in 1:03:52.160 --> 1:03:54.480 my twenties, you know, I had a good job. I 1:03:54.600 --> 1:03:57.400 worked for corrections or whatever, but I never knew this 1:03:57.480 --> 1:03:59.640 type of stuff. So now that I know, I'm like 1:03:59.720 --> 1:04:03.439 catching up. And I joined the I joined the stock 1:04:03.720 --> 1:04:05.920 club and everything and got my house. I just want 1:04:05.960 --> 1:04:07.960 to say that you guys are really help me. That's 1:04:07.960 --> 1:04:08.560 all I have to say. 1:04:08.800 --> 1:04:11.160 Hey, Rachel, thank you, and I want you to save 1:04:11.240 --> 1:04:13.080 forty with pride. I want you saying that like that. 1:04:13.480 --> 1:04:17.840 Yeah, retired, I retired from my job and forty I got. 1:04:17.720 --> 1:04:18.520 Into real estate. 1:04:19.040 --> 1:04:20.960 I did all these great things, but I had no 1:04:21.080 --> 1:04:23.880 one to like back me. I found you guys, and 1:04:24.000 --> 1:04:25.880 now I'm like it's on and popping. 1:04:26.720 --> 1:04:27.120 I love it. 1:04:27.960 --> 1:04:29.480 Thank you, appreciate that. 1:04:30.000 --> 1:04:32.320 But my question is real quick, what's the best what 1:04:32.480 --> 1:04:34.360 do you in your in your suggestion, what's the best 1:04:34.480 --> 1:04:35.560 bank to start your business? 1:04:35.560 --> 1:04:38.240 Credit in your business? Excuse me? 1:04:38.600 --> 1:04:39.800 Your business checking account? 1:04:40.600 --> 1:04:42.400 Say that? Say that one part again business? 1:04:42.400 --> 1:04:45.560 What's the bank? What's the best bank for business checking? Yes? 1:04:46.040 --> 1:04:46.880 I love Chase. 1:04:47.560 --> 1:04:51.080 I just love Chase because Chases chases everywhere and if 1:04:51.120 --> 1:04:54.160 God forbid, you're on vacation and you're applying for a mortgage, 1:04:54.200 --> 1:04:56.000 your business bank account, or a loan or whatever the 1:04:56.080 --> 1:04:59.240 case is, and they need something, Chase, Chase is usually 1:04:59.280 --> 1:05:01.680 everywhere and it's very accessible. 1:05:01.720 --> 1:05:02.680 So that's why I like Chase. 1:05:04.560 --> 1:05:06.520 Concur right like that, that's kind of who we use 1:05:06.560 --> 1:05:09.160 as well, we both had personal accounts there and so 1:05:09.240 --> 1:05:11.520 when we open the business just made sense that they 1:05:11.560 --> 1:05:14.320 can see all our finances is really streamlined. So that's 1:05:14.320 --> 1:05:15.000 who we use as well. 1:05:15.080 --> 1:05:17.120 So Chase, Yeah, I use Chase. It's got a lot 1:05:17.120 --> 1:05:17.960 of accounts for Chase. 1:05:18.000 --> 1:05:20.000 But I will say that it is important to diversify 1:05:20.040 --> 1:05:23.520 your banks because even I have an online capital one 1:05:23.720 --> 1:05:28.280 savings account, you never know, you never know what can happen, 1:05:29.000 --> 1:05:31.880 and you know they freeze your account. 1:05:31.920 --> 1:05:32.960 Anything is possible. 1:05:33.640 --> 1:05:37.800 So especially as you grow more assets, it's never it's 1:05:37.840 --> 1:05:40.200 not a bad idea to diversify and have You don't 1:05:40.200 --> 1:05:42.400 want to have like thirty different bank accounts, but you 1:05:42.480 --> 1:05:44.480 might want to have a few different, few different accounts 1:05:44.480 --> 1:05:45.720 for a few different institutions. 1:05:45.880 --> 1:05:50.240 Yeah, I agree with that too. Yeah, thank you, Thank you, Rachel, 1:05:50.280 --> 1:05:51.680 and congratulations on retiring. 1:05:52.200 --> 1:05:53.320 Thank you, thank you very much. 1:05:53.520 --> 1:05:59.000 All right, Rachel, Rachel from New York. You know we 1:05:59.040 --> 1:06:02.840 ain't got to ask down to the city. Let's see, 1:06:02.920 --> 1:06:06.080 let's go to Tony. We coming to you, Tony K 1:06:06.240 --> 1:06:07.960 were coming to you. What's going on? I'm mute yourself, 1:06:07.960 --> 1:06:08.640 you've been unmuted. 1:06:08.680 --> 1:06:09.040 What's up? 1:06:10.280 --> 1:06:12.520 All right? What's going on? Brothers. How you guys doing 1:06:12.560 --> 1:06:13.000 this evening? 1:06:15.280 --> 1:06:17.160 All right, good good. I'm gonna make it real quick. 1:06:17.200 --> 1:06:21.360 I just got two quick questions for you. I think 1:06:21.400 --> 1:06:24.120 you're already coveted earlier, but I just want. 1:06:23.960 --> 1:06:24.439 To make sure. 1:06:24.640 --> 1:06:29.440 So I was trying to apply for business credit and 1:06:30.600 --> 1:06:36.080 this company asks for a personal guarantee. So is that 1:06:36.280 --> 1:06:38.680 going to affect my personal credit? Is it going to 1:06:38.760 --> 1:06:42.000 show up that I'm applying for business credit? Is that 1:06:42.080 --> 1:06:43.320 going to mess me up personally? 1:06:43.560 --> 1:06:45.960 Or would you mind me asking who the company is? 1:06:47.520 --> 1:06:48.840 A company called Cabbage. 1:06:50.480 --> 1:06:53.320 Yes, Cabbage actually will run your credit, and they're actually 1:06:53.360 --> 1:06:54.320 going to run experience. 1:06:55.800 --> 1:06:58.919 It is going to be a hard inquiry. But here's 1:06:58.920 --> 1:07:01.520 the thing. If that account is going to. 1:07:01.560 --> 1:07:06.400 Give you access to thirty forty fifty sixty thousand dollars, 1:07:08.280 --> 1:07:09.520 I say go for it. You know what I mean, 1:07:09.880 --> 1:07:12.920 because you're securing that not only with your business checking account, 1:07:13.280 --> 1:07:15.520 but also they will run your personal credit and that's 1:07:15.560 --> 1:07:17.560 like a line of credit, kind of like fund the 1:07:17.640 --> 1:07:18.680 box and Blue Viney. 1:07:20.040 --> 1:07:21.280 Gotcha? Okay? 1:07:21.560 --> 1:07:21.920 All right? 1:07:23.400 --> 1:07:28.680 Second quick question is I've been established for about maybe 1:07:28.720 --> 1:07:32.240 eight years with my LLC, and I'm trying so hard 1:07:32.320 --> 1:07:35.040 to get business credit like right now, I think I 1:07:35.160 --> 1:07:39.600 got two credit cards, one Chase which is about maybe 1:07:39.640 --> 1:07:43.280 seventy five hundred, then I got American Express which is 1:07:43.320 --> 1:07:48.480 about nine thousand. What is the best bank to go 1:07:48.640 --> 1:07:52.680 to at this point with someone that's bringing in about 1:07:52.760 --> 1:07:57.000 maybe thirty five forty thousand business wise with those two 1:07:57.080 --> 1:08:00.960 credit cards and trying to maximize my business credit? 1:08:01.240 --> 1:08:04.120 Is there like a institution that you can kind of 1:08:04.160 --> 1:08:05.040 direct me to for that? 1:08:05.880 --> 1:08:07.360 What do you mean you're bringing in that a month 1:08:07.480 --> 1:08:08.360 or you're talking about. 1:08:08.840 --> 1:08:11.720 Like a year? Like a year right now? Right, that's 1:08:11.760 --> 1:08:13.080 how much this business is making a year. 1:08:13.440 --> 1:08:15.880 Okay, So so you want to know where you can 1:08:15.920 --> 1:08:18.479 go to what to leverage more credit or more credit cards. 1:08:19.320 --> 1:08:21.160 I'm looking to go to a place where I can 1:08:21.240 --> 1:08:23.600 get more credit, like a line of credit, Like I 1:08:23.680 --> 1:08:26.080 want to try to get like, you know, seventy five 1:08:26.160 --> 1:08:27.880 to one hundred thousand line of credit. 1:08:28.320 --> 1:08:30.640 Okay, yeah, No, So what you might have to do 1:08:30.880 --> 1:08:33.200 is you might have to because of the income you 1:08:33.280 --> 1:08:36.679 have coming in, you might have to apply for certain 1:08:37.600 --> 1:08:39.760 lines of credit. Right, so you might have to go 1:08:39.840 --> 1:08:42.240 to you already went to Cabbage, right, You're gonna have 1:08:42.280 --> 1:08:43.920 to go to a phone box you're gonna have to 1:08:43.960 --> 1:08:46.360 go to Bluevine. You're gonna have like, like I was 1:08:46.360 --> 1:08:49.120 saying before, Bank of America is a good place. Who 1:08:49.200 --> 1:08:50.200 do you bank with right now? 1:08:50.800 --> 1:08:51.240 For business? 1:08:51.240 --> 1:08:53.920 I'm actually with Chase Chase my bank right now. 1:08:54.080 --> 1:08:57.200 Chase Chase does have some products that you can apply for. 1:08:57.640 --> 1:08:59.360 They do, like you know, asks for a little bit 1:08:59.400 --> 1:09:03.400 more information, but just you might just have to get 1:09:03.800 --> 1:09:05.599 a few more credit cards too, because at the end 1:09:05.600 --> 1:09:07.000 of the day, what are you looking to do with 1:09:07.160 --> 1:09:08.840 that line of credit and that cash. Are you looking 1:09:08.880 --> 1:09:11.200 to invest it to buy more things? Or you're just 1:09:11.280 --> 1:09:12.519 looking to have it as a backup? 1:09:13.680 --> 1:09:16.559 No, like I'm looking to actually invested, Like I want 1:09:16.600 --> 1:09:18.960 to buy, you know, some real estate and get into 1:09:19.000 --> 1:09:20.120 some other business ventures. 1:09:20.560 --> 1:09:21.559 Okay, business credit? 1:09:22.080 --> 1:09:24.360 Yeah, So I mean if you your credit sounds like 1:09:24.439 --> 1:09:26.240 it's good because you know, you have a Chase and 1:09:26.320 --> 1:09:28.720 you have some Madax, I will say, you know, log 1:09:28.800 --> 1:09:30.600 into your American Express account. 1:09:30.320 --> 1:09:33.280 Number one and try to get at least six to eight. 1:09:33.360 --> 1:09:36.080 American Express cards right on the business side, because you know, 1:09:36.160 --> 1:09:38.639 when was the last time you got an American Express card? 1:09:40.560 --> 1:09:42.320 Man, I would say about three years ago. 1:09:42.720 --> 1:09:44.639 Oh yeah, man, so you should you should log into 1:09:44.640 --> 1:09:48.599 your AmericanExpress dot com right and apply for more business 1:09:48.640 --> 1:09:50.640 credit cards. They won't run your credit since you have 1:09:50.720 --> 1:09:54.160 a relationship with them, right and and now that will 1:09:54.240 --> 1:09:56.639 give you access to more credit. When was the last 1:09:56.640 --> 1:09:58.560 time you got a Chase credit card the one that 1:09:58.680 --> 1:09:58.880 you have? 1:10:00.080 --> 1:10:02.240 Oh well I got that when I opened up the account, 1:10:02.360 --> 1:10:04.400 and that was about maybe eight years ago. 1:10:05.120 --> 1:10:07.000 So and that's a chase In card. 1:10:07.880 --> 1:10:08.840 That's the Chase In card. 1:10:08.920 --> 1:10:12.439 Right, well, then get another Chase In card since it's 1:10:12.479 --> 1:10:14.519 been that long since you got it. So now you 1:10:14.600 --> 1:10:16.880 got Chase Ink, you got you can get up to 1:10:16.960 --> 1:10:19.559 six American Express credit cards with no injury. 1:10:19.800 --> 1:10:22.400 You got Cabbage, you got Blue Vine, you got. 1:10:22.320 --> 1:10:24.200 Fun Box, And I think, man, I think that'll be 1:10:24.320 --> 1:10:26.880 enough to get you started where it's actually giving you cash. 1:10:27.160 --> 1:10:28.519 And that's just the credit right away. 1:10:29.760 --> 1:10:33.040 Perfect, perfect, all right, I appreciate it. Thank you guys. 1:10:33.120 --> 1:10:34.439 That man appreciate you, Tony. 1:10:35.120 --> 1:10:39.519 All right, brother, Yeah, that's a lot. 1:10:39.840 --> 1:10:44.400 Let's see. Let's see. Uh, let's go to Morgan. We're 1:10:44.400 --> 1:10:46.519 going to Morgan. What's going on? Morgan? I meet yourself. 1:10:46.520 --> 1:10:49.760 You've been unmuted, that was going tell us? 1:10:49.800 --> 1:10:50.160 How you do? 1:10:50.600 --> 1:10:51.360 I think good? Are you. 1:10:52.160 --> 1:10:55.599 I'm all right, just for the credit dude. So I've 1:10:55.640 --> 1:10:58.439 seen the class that you did about the American Express 1:10:58.520 --> 1:11:00.639 cards and I actually did it. I got I think 1:11:01.120 --> 1:11:05.599 I got four cars that night. My question is those 1:11:05.680 --> 1:11:08.720 cars that I got and I also have already did 1:11:08.800 --> 1:11:12.519 the Bank of America and I got a car in 1:11:12.640 --> 1:11:15.120 Bank of America in my business name. But none of 1:11:15.200 --> 1:11:17.560 this is reporting on my NAV credit report. Like I 1:11:17.600 --> 1:11:19.280 got the app, I downloaded the app, I'm paying for 1:11:19.360 --> 1:11:21.920 the service and everything, but none of it has posted. 1:11:21.960 --> 1:11:25.679 And I've had the car and the Bank of America 1:11:25.760 --> 1:11:28.519 card for over a year. The credit cards to American 1:11:28.560 --> 1:11:30.800 Express I've only had for probably like three or four months. 1:11:30.920 --> 1:11:32.719 But I'm just trying to figure out how to close 1:11:32.800 --> 1:11:35.000 that gap. Like I was trying to walk through all 1:11:35.000 --> 1:11:37.160 of the things that you said and crossing all of 1:11:37.160 --> 1:11:39.559 my tea's out my eyes, but it's something that I'm missing. 1:11:40.600 --> 1:11:43.840 Okay, So one, congrats with getting those credit cards and 1:11:43.920 --> 1:11:47.679 things like that. When it comes to those those credit 1:11:47.760 --> 1:11:50.920 cards the American Express, they won't really report to done 1:11:50.960 --> 1:11:53.599 in Bradstreet. Those are typically going to report to Experience 1:11:54.160 --> 1:11:56.120 your auto. You say you got the business all the 1:11:56.200 --> 1:11:57.200 loan already too. 1:11:58.000 --> 1:11:59.559 Yeah, I got that through Bank of America. 1:11:59.800 --> 1:12:02.720 Okay, that one should that one should be reporting to 1:12:02.880 --> 1:12:05.840 dun In Bradstreet and Experience. Now, usually what I tell 1:12:05.920 --> 1:12:09.599 people is this, when it comes to your business credit, 1:12:09.720 --> 1:12:12.200 what you want to make sure you have. You want 1:12:12.240 --> 1:12:15.400 to make sure that your state has the right information 1:12:15.640 --> 1:12:18.120 for the address, the E I N with the with 1:12:18.240 --> 1:12:21.439 the I R s your bank account, and then with 1:12:21.640 --> 1:12:24.960 all the credit cards, the done in Bradstreet Experience business 1:12:25.360 --> 1:12:26.840 and then also your all a loan. 1:12:26.960 --> 1:12:28.880 You want to make sure everything. 1:12:28.520 --> 1:12:32.320 Has the right address right because if they're if you 1:12:32.360 --> 1:12:35.240 don't really have a profile with dun In Bradstreet or 1:12:35.320 --> 1:12:38.040 any of the business credit burea set up with the 1:12:38.240 --> 1:12:40.840 current business address and it's an old one a lot 1:12:40.880 --> 1:12:41.559 of the times it. 1:12:41.600 --> 1:12:43.160 Won't catch you know what I mean. 1:12:43.280 --> 1:12:46.000 So what you want to do is just revisit all 1:12:46.080 --> 1:12:48.559 of the accounts that you have on the business make 1:12:48.640 --> 1:12:51.840 sure they all have the current address, especially it should 1:12:51.880 --> 1:12:55.000 be a business address if you don't have a virtual office, 1:12:55.040 --> 1:12:58.439 whoever the case is, and then just contact each of 1:12:58.479 --> 1:13:01.559 those credit cards and all alone and everything and say, hey, listen, 1:13:01.880 --> 1:13:03.920 you know I've had this account for X amount of time, 1:13:04.080 --> 1:13:05.040 and it's not reporting. 1:13:05.400 --> 1:13:07.360 But what you also want to do is you also 1:13:07.400 --> 1:13:08.320 want to make sure that you're. 1:13:08.240 --> 1:13:10.880 Still building the net thirties, the gas cards, you know, 1:13:11.000 --> 1:13:13.920 the Staples, the Amazon things like that, because a lot 1:13:14.000 --> 1:13:15.840 of the times, even if you have if you don't 1:13:15.840 --> 1:13:18.360 have enough accounts, a lot of the times it also 1:13:18.479 --> 1:13:20.880 won't report your credit score on the business side either. 1:13:21.280 --> 1:13:23.880 So start pumping up your business credit with more than 1:13:24.000 --> 1:13:26.840 with just with more than just those accounts, and see 1:13:26.880 --> 1:13:28.960 what difference it makes in sixty to ninety days. 1:13:29.680 --> 1:13:33.000 Okay, I haven't. I haven't done the net thirty somebody 1:13:33.120 --> 1:13:34.840 just told me to do that as well. But so 1:13:35.000 --> 1:13:37.080 that that I haven't did the rest of it, I've done. 1:13:37.360 --> 1:13:38.800 But okay, thank you, no. 1:13:38.880 --> 1:13:41.479 Problem, man, appreciate you Morgan, Yes, all right. 1:13:43.000 --> 1:13:46.479 And if anybody's asking Eyo University, that's the Zoom people 1:13:46.520 --> 1:13:48.720 that have access to the Zoom, same people that like 1:13:48.800 --> 1:13:50.519 that's how you see on market Mondays too, that's the 1:13:50.560 --> 1:13:51.960 people that have the Zoom access. 1:13:52.320 --> 1:13:54.920 Let's go toinally what's going on? I'm you yourself, You've 1:13:54.920 --> 1:13:55.800 been unmuted. What's up? 1:13:58.040 --> 1:13:58.280 Hey? 1:13:59.600 --> 1:14:00.200 I was going going on? 1:14:00.320 --> 1:14:02.920 I appreciate everybody doing. It's so punctual with the call. 1:14:02.840 --> 1:14:08.000 On appreciate no fridge berries, no fridge breaking. I have 1:14:08.160 --> 1:14:13.680 two questions. Hell say, I have a question about an 1:14:13.880 --> 1:14:16.840 LLC that I have Right I opened it up, it's 1:14:16.880 --> 1:14:19.840 almost a year old. I haven't used it for its 1:14:19.920 --> 1:14:23.840 intended purpose, and so I have some other business opportunities 1:14:24.160 --> 1:14:28.320 and I want to keep the age of my LLC 1:14:29.040 --> 1:14:31.880 as well as my credit card that I opened up 1:14:31.960 --> 1:14:33.760 in the LLC even though I haven't done anything with 1:14:33.880 --> 1:14:37.320 it yet. So how do I preserve the age of 1:14:37.400 --> 1:14:41.080 the LLC as well as preserve the card that I have, Like, 1:14:41.160 --> 1:14:43.599 because I'm coming up also on my renewal, Like can 1:14:43.640 --> 1:14:47.000 I just change like the name and like update the 1:14:47.080 --> 1:14:47.880 info and keep it? 1:14:48.160 --> 1:14:48.880 Like how do I do that? 1:14:50.000 --> 1:14:50.240 Yep? 1:14:51.160 --> 1:14:53.479 So what you want to do is you do want 1:14:53.520 --> 1:14:57.200 to get with an attorney with that, just to make 1:14:57.280 --> 1:14:57.680 sure that. 1:14:59.360 --> 1:15:00.960 You're able to do because it depends like if you 1:15:01.040 --> 1:15:03.160 if you have like a pizzeria and you're trying to 1:15:03.200 --> 1:15:06.040 do a consulting business, you might not be able to 1:15:06.160 --> 1:15:09.439 change the name of it and do the same thing, 1:15:09.520 --> 1:15:11.680 you know what I mean. So what I would say 1:15:11.720 --> 1:15:13.360 with that, one hundred percent of the time, get with 1:15:13.479 --> 1:15:16.840 an attorney that you know, or LegalZoom dot com, whatever 1:15:16.880 --> 1:15:19.439 the case is, and just make sure that when you're 1:15:19.520 --> 1:15:23.360 changing the name and changing the actual business of what 1:15:23.479 --> 1:15:25.560 you're going to be doing, that you're able to do 1:15:25.680 --> 1:15:26.960 it and that you're not going to get like in 1:15:27.040 --> 1:15:29.800 any type of like you know, if there's a business license, 1:15:29.800 --> 1:15:31.519 you got to get over the case is. And that's 1:15:31.560 --> 1:15:33.240 one of the reasons why I always tell people kind 1:15:33.240 --> 1:15:35.640 of have like a blanket LLC name, like you know, 1:15:36.080 --> 1:15:40.880 Rodriguez Management LLC, and you can typically do several things 1:15:41.240 --> 1:15:43.360 under that LLC and not really have to change the name. 1:15:43.400 --> 1:15:45.240 But it's like if you name your business, you know, 1:15:45.400 --> 1:15:49.559 Rodriguez Painting, but you want to do landscaping, that's kind 1:15:49.600 --> 1:15:51.200 of like where if you would have just named it 1:15:51.320 --> 1:15:56.719 Rodriguez LLC Rodriguez Management LLC and then DBA Rodriguez Painting, 1:15:56.880 --> 1:16:00.280 Rodriguez Landscaping, Rodriguez whatever, you're still able to kind of 1:16:00.320 --> 1:16:02.439 do things under the same umbrella. But like I always 1:16:02.439 --> 1:16:04.920 tell people, get with an attorney because you know, every 1:16:05.000 --> 1:16:06.000 state varies. 1:16:05.720 --> 1:16:07.320 And you just never want to get hung up. And 1:16:07.360 --> 1:16:08.080 even if you got to. 1:16:08.080 --> 1:16:11.600 Lose the age of the account of the LLC, you 1:16:12.000 --> 1:16:13.680 might have to you know what I mean to to 1:16:13.920 --> 1:16:16.439 make sure that you're you're doing everything by the books, 1:16:16.520 --> 1:16:19.000 legit and within the law that the state that you 1:16:19.080 --> 1:16:19.280 live in. 1:16:20.160 --> 1:16:22.920 Yeah, I was worried about the next code. I thought 1:16:22.960 --> 1:16:24.559 if I just changed the next code in the name, 1:16:24.600 --> 1:16:26.439 I could do it. But I'll researched that some more. 1:16:26.600 --> 1:16:27.240 I appreciate that. 1:16:27.640 --> 1:16:30.680 My other question is, so for the credit cards that 1:16:30.760 --> 1:16:35.360 we apply for, right, I used your chips as well 1:16:35.760 --> 1:16:37.600 on one of our calls and I was able to 1:16:37.640 --> 1:16:39.360 get a couple of AMEX cards and I got my 1:16:39.479 --> 1:16:42.880 Chase in cars, So that worked the beautifully, right. But 1:16:43.120 --> 1:16:47.800 my question is if I'm the personal guaranteur right on 1:16:48.720 --> 1:16:51.479 these business accounts and it's not like true business credit 1:16:51.520 --> 1:16:53.400 because it's not in the night Yan, Right, they ran 1:16:53.479 --> 1:16:56.120 my social and it's in my business name, but I'm 1:16:56.160 --> 1:16:56.519 the PG. 1:16:57.439 --> 1:16:59.320 So do the same. 1:17:00.640 --> 1:17:05.400 Apply on these cards as your personal credit as far 1:17:05.439 --> 1:17:08.720 as like if you max out the card on your 1:17:08.760 --> 1:17:12.200 personal credit cards, it would harm you because the utilization 1:17:13.160 --> 1:17:16.560 works against you. So is it the same if you 1:17:16.680 --> 1:17:20.240 apply for a credit card in your business name and 1:17:20.360 --> 1:17:23.000 you're the personal guaranteur? Is it those same rule or 1:17:23.120 --> 1:17:26.120 is it the business rules where utilization doesn't matter. 1:17:27.080 --> 1:17:29.840 So that's it's a very question. 1:17:32.200 --> 1:17:33.240 It's gonna meets you real quick. 1:17:33.280 --> 1:17:38.000 Now, yeah, that's a very it's it really does depend 1:17:38.120 --> 1:17:43.439 because you know your your business credit utilization doesn't matter 1:17:43.600 --> 1:17:45.840 as much as your utilization and. 1:17:45.840 --> 1:17:50.960 The personal side. But if you have all of your business. 1:17:50.720 --> 1:17:53.599 Credit cards maxed out and you're not paying your net 1:17:53.680 --> 1:17:56.880 thirties on time, that is going to eventually hurt you. 1:17:57.040 --> 1:17:59.160 But if you have two or three, like you know, 1:17:59.280 --> 1:18:01.280 I have met I have maxed out credit cards on 1:18:01.360 --> 1:18:04.240 the business side, that's and I hide the debt and 1:18:04.360 --> 1:18:05.760 it's not going to hurt you as much when you 1:18:05.800 --> 1:18:08.280 apply for more credit cards as long as your personal 1:18:08.400 --> 1:18:10.720 debt isn't maxed out if you're using that as a 1:18:10.760 --> 1:18:13.640 personal guarantee. So remember if you're always if you're going 1:18:13.680 --> 1:18:16.640 to be using your personal credit as a guaranteur for 1:18:16.840 --> 1:18:20.479 business credit, typically your personal credit is going to have 1:18:22.080 --> 1:18:25.040 a bigger factor on your approval than anything on the 1:18:25.120 --> 1:18:26.960 business side. So even if you don't have the income 1:18:27.080 --> 1:18:29.960 the business credits for the age, whatever the case is, 1:18:30.200 --> 1:18:32.880 as long as your personal credits on point, that will 1:18:32.920 --> 1:18:35.080 typically be good. But if you do max out the 1:18:35.160 --> 1:18:38.120 business side as well. It typically is not going to 1:18:38.200 --> 1:18:40.120 hurt you as much as if you had maxed out 1:18:40.120 --> 1:18:42.679 credit cards on the personal side of that ants question. 1:18:48.760 --> 1:18:52.240 Okay, Natalie, Hopefully that did. Hopefully that did real quick. 1:18:52.280 --> 1:18:53.479 We got one in the chat. Shout to all the 1:18:53.520 --> 1:18:55.000 earners that's in the chat. We see a lot of hands. 1:18:55.000 --> 1:18:56.720 We don't try to get as many as possible. It 1:18:56.880 --> 1:19:01.280 was somebody's rg's having a mic issue said, my husband 1:19:01.320 --> 1:19:04.600 bought a car last month under a personal credit but 1:19:04.800 --> 1:19:06.760 he wants to transfer ownership in. 1:19:06.800 --> 1:19:10.320 His LLC as his EI in number. How can we 1:19:10.479 --> 1:19:14.320 do this by transferring over? Can you do it? 1:19:14.439 --> 1:19:14.840 Is a question. 1:19:15.320 --> 1:19:20.960 I'm assuming I think you got muted. 1:19:22.400 --> 1:19:22.920 My bad guys. 1:19:22.960 --> 1:19:24.840 You guys mind if I share my stream right quick 1:19:24.880 --> 1:19:26.040 and show you guys how to do that? Or do 1:19:26.040 --> 1:19:26.360 you guys? 1:19:26.560 --> 1:19:29.840 Yeah? Yeah, I'll come free good Okay, So what you. 1:19:29.880 --> 1:19:32.040 Guys are gonna do, I will drop. All you gotta 1:19:32.120 --> 1:19:32.679 do is search. 1:19:32.840 --> 1:19:42.679 Business is Bank of America, Bank of America Business Auto loan. Okay, 1:19:42.960 --> 1:19:45.120 so let me go ahead and share my screen. 1:19:48.200 --> 1:19:48.599 Business. 1:19:48.880 --> 1:19:49.160 Allo. 1:19:49.600 --> 1:19:51.680 All you gotta do is business, I mean Bank of 1:19:51.760 --> 1:19:56.040 America Business all the loan right, This link is gonna 1:19:56.080 --> 1:19:57.800 come up. I will put it in the chat section 1:19:58.000 --> 1:20:02.640 for everybody that's here, okay, and if anybody wants to 1:20:02.720 --> 1:20:06.360 drop that on the YouTube channel as well. But when 1:20:06.400 --> 1:20:09.120 you go here, right, all you gotta do. If it's 1:20:09.120 --> 1:20:11.680 in the personal name, all you're gonna do. 1:20:12.160 --> 1:20:12.439 Apply. 1:20:12.600 --> 1:20:18.720 Now, it's a refinance. Put the loan is this? Is 1:20:18.800 --> 1:20:20.120 it a Bank of America or the loan? 1:20:20.160 --> 1:20:21.640 If it is, it is. If it's not, putting no, 1:20:22.040 --> 1:20:26.519 put the amount fifty thousand dollars, the loan term seventy 1:20:26.520 --> 1:20:28.800 two months, sixty months, whatever the case is. Do you 1:20:28.880 --> 1:20:31.400 have an online account? No, I like to continue without 1:20:31.439 --> 1:20:34.000 logging in. Put the ven number, look up the vehicle, 1:20:34.120 --> 1:20:37.240 follow the directions and boom, and you can typically refinance 1:20:37.520 --> 1:20:40.680 the car that's on your personal credit and put it 1:20:40.760 --> 1:20:44.360 into your LLC, even if your LLC is new. Bank 1:20:44.439 --> 1:20:47.960 of America will typically allow up to four auto loans 1:20:48.160 --> 1:20:48.880 per LLC. 1:20:49.160 --> 1:20:52.599 So what does that mean? They will run your experience credit? 1:20:52.840 --> 1:20:52.960 Right? 1:20:53.280 --> 1:20:53.960 But check it out? 1:20:54.080 --> 1:20:55.880 You will you you were going to run your credit 1:20:55.920 --> 1:20:58.439 anyway on the personal side to refinance it to get 1:20:58.479 --> 1:21:00.360 a lower payment. So now imagine and if you have 1:21:00.800 --> 1:21:03.320 you guys just said you guys have Uyo University, and 1:21:03.400 --> 1:21:04.240 then your leisure right. 1:21:04.439 --> 1:21:06.920 That's eight. That's eight all the loans that you can 1:21:06.960 --> 1:21:07.840 get with Bad America. 1:21:08.600 --> 1:21:09.760 That is a bar. 1:21:10.280 --> 1:21:12.600 I just I just went through this process too, and 1:21:12.920 --> 1:21:14.679 they were trying to tell me. I won't say the dealership, 1:21:14.680 --> 1:21:16.000 but they were saying that I couldn't do that. I 1:21:16.040 --> 1:21:18.920 had to get it in my business name off the 1:21:19.160 --> 1:21:21.160 like once I did it. So that's a big bar. 1:21:21.320 --> 1:21:22.920 And in addition to that, and I know you said 1:21:22.960 --> 1:21:25.400 it earlier, one of those things is obviously you're going 1:21:25.439 --> 1:21:27.360 to be a personal guaranteur because your business is so new, 1:21:27.400 --> 1:21:30.200 if it's so new, but making sure that you make 1:21:30.240 --> 1:21:33.519 your payments in your LLC's name, because, like you said, 1:21:33.560 --> 1:21:35.960 when you're trying to get a home, that debt to 1:21:36.040 --> 1:21:38.400 income ratio, you need to prove that, hey, they're going 1:21:38.479 --> 1:21:39.960 to look at that loan, that loan amount, they're going 1:21:40.000 --> 1:21:42.000 to count towards your debt to income if you can 1:21:42.080 --> 1:21:44.320 prove that your business is paying for it. Like you 1:21:44.360 --> 1:21:46.200 said it earlier, I just want to reiterate it. It 1:21:46.240 --> 1:21:48.800 wipes it away. It doesn't count towards your debt to income. 1:21:48.880 --> 1:21:50.200 So make sure that when you get it in the 1:21:50.360 --> 1:21:54.360 LLC's name. Make sure that payments consistently are coming from 1:21:54.360 --> 1:21:56.080 the LLC, and then when it's time that if you're 1:21:56.360 --> 1:21:58.040 trying to get a home and get a mortgage, you 1:21:58.120 --> 1:22:00.280 can show those payments and have that payment here to 1:22:00.360 --> 1:22:02.360 prove that it's not really a part of your death income, 1:22:02.439 --> 1:22:03.439 your personal death income. 1:22:03.920 --> 1:22:04.440 Absolutely. 1:22:04.880 --> 1:22:08.439 Yeah, yeah, yeah, all right, let's go to Franklin. 1:22:08.880 --> 1:22:09.360 We coming to you. 1:22:09.439 --> 1:22:11.519 Franklin. What's going on? I mute yourself, you've been unmuted? 1:22:11.560 --> 1:22:12.120 What's up? 1:22:14.200 --> 1:22:18.120 Hey, how you guys doing. Appreciate everything on the culture 1:22:18.120 --> 1:22:21.360 and Jose fellow service member as well, So appreciate all 1:22:21.400 --> 1:22:23.599 the game giving out. I got a question as far 1:22:23.640 --> 1:22:27.320 as like trying to begin the process for getting business credit. So, 1:22:27.560 --> 1:22:30.360 like I said, I'm in the military, excellent credit score. 1:22:30.439 --> 1:22:33.120 I checked my AMEX cards to see I'm a spending 1:22:33.120 --> 1:22:35.720 part head and it was over six figures. I know 1:22:35.800 --> 1:22:41.040 you mentioned that, like with all the financial literacy education 1:22:41.120 --> 1:22:43.439 that we're doing and stuff, that is something you could 1:22:43.439 --> 1:22:46.120 potentially start an LLC for people in the conferences spending 1:22:46.160 --> 1:22:49.320 money that way. Can you elaborate that, collaborate that a 1:22:49.320 --> 1:22:49.640 little bit? 1:22:50.360 --> 1:22:50.559 Yep. 1:22:50.720 --> 1:22:53.679 So the one of the biggest things that people fall 1:22:53.800 --> 1:22:58.320 into debt with. And you notice it with people student loans, right, 1:22:58.560 --> 1:23:02.320 what are they doing. They're they're going into debt because 1:23:02.439 --> 1:23:07.120 they are spending money on education to ultimately either get 1:23:07.160 --> 1:23:09.720 them a job or start a business and things like that. 1:23:09.920 --> 1:23:12.040 Right, Well, you could kind of do that with an. 1:23:12.160 --> 1:23:14.160 LLC too, And that's why always say check with your account, 1:23:14.320 --> 1:23:16.439 check with an attorney, right just to make sure that 1:23:16.479 --> 1:23:18.680 you guys are doing everything in the legal parameters. The 1:23:18.760 --> 1:23:22.160 thing is, if I own a business right now, if 1:23:22.200 --> 1:23:24.240 I have a business credit card, and if I'm going 1:23:24.360 --> 1:23:26.639 to earn your leisure's event and I put the air fare, 1:23:27.439 --> 1:23:31.240 the hotel uber the actual price of the ticket, I 1:23:31.320 --> 1:23:34.200 can put that on an LLC on my business credit 1:23:34.280 --> 1:23:36.000 card and then it becomes a write off. 1:23:36.120 --> 1:23:37.439 Right now, Here's the thing. 1:23:38.040 --> 1:23:40.880 A lot of people that don't have a business are like, oh, 1:23:40.960 --> 1:23:43.519 I can't really start a business yet because I'm going 1:23:43.600 --> 1:23:45.400 to go to this event first and see if that's 1:23:45.479 --> 1:23:46.000 even worth it. 1:23:46.120 --> 1:23:47.320 Right, Well, why not do that now? 1:23:47.479 --> 1:23:49.800 And the thing is that's where your umbrella LLC comes in, 1:23:50.160 --> 1:23:54.240 you know Solano Management LLC. Right, And you can put consulting, 1:23:54.360 --> 1:23:56.880 you can put you know, marketing, you know whatever. 1:23:56.880 --> 1:23:57.719 And that's why always say. 1:23:57.720 --> 1:23:59.479 Check within accountant and an attorney to make sure you 1:23:59.520 --> 1:24:01.599 guys are doing it right. The thing is is now 1:24:02.080 --> 1:24:05.280 anytime you travel, anytime you go to an event, networking event, 1:24:05.360 --> 1:24:07.840 whatever the case is, that becomes a write off because 1:24:07.880 --> 1:24:11.400 you're trying to educate yourself into becoming an entrepreneurship. But 1:24:11.479 --> 1:24:12.920 a lot of people think that you have to actually 1:24:12.960 --> 1:24:15.400 have that perfect LLC set up before you can do that. 1:24:15.560 --> 1:24:17.600 And just think backwards a little bit, as if like 1:24:17.840 --> 1:24:20.719 when people go to school and they get school loans 1:24:20.920 --> 1:24:23.160 to get the education, think of it the same way. 1:24:23.200 --> 1:24:25.320 You're opening up an LLC to put everything into the 1:24:25.360 --> 1:24:28.040 business credit to eventually learn how to do business, to 1:24:28.120 --> 1:24:30.520 learn how to do you know, quick books and bookkeeping 1:24:30.640 --> 1:24:32.599 and you know all that good stuff that an LLC 1:24:32.760 --> 1:24:35.320 and a business does. And that's how it could become 1:24:35.360 --> 1:24:37.280 a true write off because you can write off mileage, 1:24:37.320 --> 1:24:40.840 you can write off airfare, you know, gas, education and 1:24:40.960 --> 1:24:41.600 things like that, and. 1:24:41.600 --> 1:24:43.479 Next thing you know, your business might not be making 1:24:43.520 --> 1:24:44.240 money right now. 1:24:44.640 --> 1:24:46.880 But guess what, when you have that great business idea 1:24:46.960 --> 1:24:49.479 and it does kick off, you have all the business credit, 1:24:49.520 --> 1:24:51.800 you have the education, you have everything already set up, 1:24:52.000 --> 1:24:52.559 so you're ahead. 1:24:52.680 --> 1:24:54.200 You're ahead of the game a lot. 1:24:57.160 --> 1:24:59.639 No, that's perfect. I appreciate that you answer my question. 1:24:59.720 --> 1:25:04.880 Thank you, appreciate you frankly. All right, let's let's go. 1:25:05.040 --> 1:25:07.280 Let's let's do this. Let's go to dd. We coming 1:25:07.280 --> 1:25:09.080 to you, Didy. What's going on on? 1:25:09.200 --> 1:25:10.320 Mute yourself you've been unmuted. 1:25:12.520 --> 1:25:15.400 Hey, guys, good evening. I knew you were gonna call 1:25:15.520 --> 1:25:17.280 me as soon as I flipped over to my notes 1:25:17.360 --> 1:25:18.160 to take down notes. 1:25:18.200 --> 1:25:20.840 One whose was just saying, perfect time. 1:25:22.080 --> 1:25:24.800 It's a pleasure to be here. I'm excited at what 1:25:24.920 --> 1:25:28.680 you guys are doing. Is always very impressed, very appreciative. 1:25:29.479 --> 1:25:31.600 Like the other caller, you guys have really given me 1:25:31.680 --> 1:25:35.759 a community space. I was in nonprofits teaching financial literacy 1:25:35.960 --> 1:25:37.760 about ten years ago, and I felt like we were 1:25:37.800 --> 1:25:40.519 the only ones there. So it's relief to see you 1:25:40.640 --> 1:25:44.880 guys taking this charge and everyone's so excited. But I 1:25:45.080 --> 1:25:49.240 did want to ask about I know, with personal credit, 1:25:49.280 --> 1:25:52.759 when you submit applications within a certain timeframe, that counts 1:25:52.760 --> 1:25:56.839 as one inquiry? Is it the same with the business 1:25:57.120 --> 1:25:58.439 accounts in the loans? 1:25:58.680 --> 1:25:58.720 Like? 1:25:58.960 --> 1:25:59.479 Is it different? 1:25:59.600 --> 1:26:04.040 Like business credit applications are in one category and business 1:26:04.160 --> 1:26:06.840 loan applications or in another, or it doesn't matter, like 1:26:06.920 --> 1:26:07.599 how does that work? 1:26:08.200 --> 1:26:09.000 It's a great question. 1:26:09.560 --> 1:26:11.320 I love these type of questions because it gets my 1:26:11.360 --> 1:26:13.519 brain thinking right, and it gets your obviously your brain 1:26:13.640 --> 1:26:17.679 is working. So just so you guys know, right, any 1:26:18.320 --> 1:26:24.439 auto loan, personal loan, mortgage inquiry, right, anything that has 1:26:24.760 --> 1:26:28.040 the word loan on it, la n anything that has 1:26:28.080 --> 1:26:31.599 associated with the loan. If anything that's typically done within 1:26:31.680 --> 1:26:35.439 the same category within thirty days thirty to forty five 1:26:35.520 --> 1:26:38.120 days will typically be counted as one. So if you're 1:26:38.200 --> 1:26:40.479 going for several lines of credit, or if you're going 1:26:40.560 --> 1:26:44.639 for several business all the loan, bank account, business order loans, 1:26:44.920 --> 1:26:46.799 or if you're going for hard money with the lender, 1:26:46.880 --> 1:26:52.200 whatever the case is, typically anything within that same category, right, 1:26:52.920 --> 1:26:55.720 that auto loan or that business all a loan or 1:26:55.760 --> 1:26:57.960 that business you know, a line of credit loan, whatever 1:26:57.960 --> 1:27:01.759 the case is, Yes, it will typically count as one. Okay, 1:27:02.040 --> 1:27:05.000 if it's done within that period. Now, a business credit 1:27:05.080 --> 1:27:06.640 card is going to work the same way as a 1:27:06.720 --> 1:27:09.599 personal credit card. So if you're applying for Chase, which 1:27:09.720 --> 1:27:15.360 runs experiences your experience Personal American Express Personal right cabbage 1:27:15.520 --> 1:27:19.240 personal right, that doesn't count as three. It only counts 1:27:19.280 --> 1:27:21.840 as really, I mean, it doesn't count as that's gonna 1:27:21.880 --> 1:27:23.560 count as three separate ones. I'm sorry, because you have 1:27:23.680 --> 1:27:26.680 your American Express, you have your Chase, and you have 1:27:26.760 --> 1:27:27.400 your cabbage. 1:27:27.520 --> 1:27:27.640 Right. 1:27:27.720 --> 1:27:30.800 So that's three separate auto loan, three separate inquiries. Okay, 1:27:31.160 --> 1:27:33.840 Because so every single credit card inquiry, no matter if 1:27:33.880 --> 1:27:36.840 it's personal or business, is gonna count as one. But 1:27:37.000 --> 1:27:41.360 any a loan inquiry in the same category within thirty 1:27:41.400 --> 1:27:43.840 to forty five days is gonna count as one. So 1:27:44.200 --> 1:27:46.640 even even with an auto loan company that you you know, 1:27:46.720 --> 1:27:48.320 you go to the dealership and they run your credit 1:27:48.400 --> 1:27:51.200 ten times, it doesn't affect your credit score ten times. 1:27:51.400 --> 1:27:53.680 It only affects your credit score once if it's done 1:27:53.720 --> 1:27:54.719 within the same period. 1:27:56.120 --> 1:27:58.519 Okay, thank you so much. I appreciate it. 1:27:58.720 --> 1:28:04.280 Thank you, guys, said, I get back to my notes. 1:28:04.320 --> 1:28:09.040 I appreciate you. All right, let's let's go to Christian. 1:28:09.080 --> 1:28:09.560 We come to you. 1:28:09.840 --> 1:28:11.639 You yourself, you've been immuted. What's going on Christian? 1:28:17.400 --> 1:28:19.439 Hey, how you guys doing Christian? 1:28:19.520 --> 1:28:19.640 Here? 1:28:21.400 --> 1:28:21.920 Great question? 1:28:23.240 --> 1:28:25.479 Actual you two questions and one is for Rashan and 1:28:27.240 --> 1:28:29.880 so for some of us that I've been grandfather, then 1:28:30.040 --> 1:28:33.640 we've been with Eyl from like just before COVID. Do 1:28:33.800 --> 1:28:38.240 the rates go up for us as well? Or does 1:28:38.320 --> 1:28:39.240 it Does it change? 1:28:40.560 --> 1:28:42.719 And that's good, that's a good question. It stays the same. 1:28:42.800 --> 1:28:44.479 And that's just like a stock. That's just you know, 1:28:45.000 --> 1:28:47.360 people that got in early. They you know, so some 1:28:47.479 --> 1:28:50.240 people got in that ninety nine dollars for the entire year, 1:28:50.800 --> 1:28:52.519 and then every year it'll just be ninety nine dollars 1:28:52.520 --> 1:28:53.880 as long as they want to renew. So they renew 1:28:53.920 --> 1:28:57.599 that price at ninety nine dollars. So you know, that's 1:28:57.600 --> 1:29:01.040 another benefit. You know, as as the value goes up, 1:29:01.200 --> 1:29:03.880 as the information goes up, as more and more videos 1:29:03.880 --> 1:29:06.559 get archives, then you know, the price changes. 1:29:06.600 --> 1:29:08.920 But whatever you whatever you pay, you lock in at. 1:29:09.000 --> 1:29:11.519 So whatever price you got, what price you in at. 1:29:12.240 --> 1:29:14.240 I got in I think at two ninety nine something 1:29:14.280 --> 1:29:14.439 like that. 1:29:14.600 --> 1:29:18.120 Yeah, and ninety nine, so yeah, now it's two thousand, 1:29:18.520 --> 1:29:20.560 you know, So yeah, there you have it. 1:29:20.840 --> 1:29:23.720 Good investment, yeah, man, one of the best investments I 1:29:23.760 --> 1:29:27.040 haven't made now. The other questions for Jose was that 1:29:27.240 --> 1:29:29.439 Metro at event Fest. I also wanted to say thank 1:29:29.479 --> 1:29:32.479 you for the credit card. The American Express Play. I 1:29:32.520 --> 1:29:34.479 don't know if you remember, but it was like six 1:29:34.560 --> 1:29:36.280 cards that I applied for at the same time and 1:29:36.360 --> 1:29:36.840 it worked out. 1:29:36.920 --> 1:29:39.120 Sot out to you and keep doing what you do. 1:29:39.760 --> 1:29:40.120 I have a. 1:29:41.840 --> 1:29:46.320 So I applied for a Chase card. Big mistake, and 1:29:46.600 --> 1:29:48.680 I think because one of my friends had told me, 1:29:48.800 --> 1:29:50.240 just do it. You get two hundred dollars off of 1:29:50.280 --> 1:29:54.080 flight we're going to Jamaica, and and I think I 1:29:54.240 --> 1:29:57.280 used that, spent about one thousand on it. The limit 1:29:57.400 --> 1:30:00.160 is about two grand, and now my credit score drop 1:30:00.320 --> 1:30:02.800 from eight twenty five to seven ninety. 1:30:03.840 --> 1:30:04.680 How can I fix this? 1:30:06.200 --> 1:30:09.439 Just paid off? I paid it off for it and 1:30:09.560 --> 1:30:12.880 it has the balance already showed on the report at zero. 1:30:14.080 --> 1:30:16.479 No, this happened like five or six days ago, but 1:30:16.560 --> 1:30:17.520 I was traumatized. 1:30:17.520 --> 1:30:19.120 I was like, how the hell you go from eight 1:30:19.200 --> 1:30:22.639 twenty five to seven ninety because of one stupid card 1:30:22.640 --> 1:30:23.479 that I didn't even need. 1:30:23.880 --> 1:30:27.120 I'm gonna tell you why. Because the limit is two thousand, 1:30:27.360 --> 1:30:30.160 your balance is a thousand. So when that balance reported, 1:30:30.560 --> 1:30:32.800 even though the balance is only a thousand, you're at 1:30:32.880 --> 1:30:35.080 fifty percent utilizations. 1:30:34.400 --> 1:30:34.920 To that card. 1:30:35.520 --> 1:30:39.640 So as you pay it down and you paid it 1:30:39.720 --> 1:30:45.040 five or six days ago, it will eventually report at zero. 1:30:45.240 --> 1:30:47.200 Now here's the thing, you know, Now with that card, 1:30:47.479 --> 1:30:50.000 the next trip you go on, use the business ams 1:30:50.080 --> 1:30:50.880 instead of the chase. 1:30:51.280 --> 1:30:54.240 Oh yeah, oh yeah, oh yeah, never again, never again, 1:30:54.680 --> 1:30:55.200 never again. 1:30:55.479 --> 1:30:55.679 Yeah. 1:30:56.040 --> 1:30:58.200 And even in those situations too, Jose, and you can 1:30:58.240 --> 1:31:00.840 correct me. But if he has I'm sure some people 1:31:00.840 --> 1:31:02.559 are in that situation where they have a two thousand limit. 1:31:02.600 --> 1:31:05.240 Before you use it again, try to reach out and 1:31:05.400 --> 1:31:07.759 maybe increase the limit, right, so the utilization rate actually 1:31:07.800 --> 1:31:10.400 goes down. So when you spend a thousand, maybe your 1:31:10.479 --> 1:31:13.000 limit has been increased to five thousand and not a 1:31:13.040 --> 1:31:14.040 percentages in fifty. 1:31:14.320 --> 1:31:16.160 You know what I'm saying, It's like at twenty right. 1:31:17.040 --> 1:31:20.920 And the thing is, man, not even only before you 1:31:21.040 --> 1:31:22.560 use the card, but if you get a proved for 1:31:22.600 --> 1:31:24.320 a credit card and you say your credit score was 1:31:24.360 --> 1:31:26.759 over eight hundred and they only gave you two thousand dollars, 1:31:26.880 --> 1:31:28.920 what you want to do is pick up the phone, 1:31:29.439 --> 1:31:31.840 even if even if your credit is subpar, meaning like 1:31:31.960 --> 1:31:34.360 six hundred and six twenty six fifty. Anytime you guys 1:31:34.439 --> 1:31:36.400 get it proved for a credit card, call them up 1:31:36.400 --> 1:31:37.800 and say, hey, I got a proof for a two 1:31:37.800 --> 1:31:39.760 thousand dollars credit card. But if you look at my 1:31:39.840 --> 1:31:42.200 credit I have five ten thousand dollars limits. There's anything 1:31:42.240 --> 1:31:44.800 you can do with increasing the right there, because not 1:31:44.920 --> 1:31:47.080 only will it save you with inquiry, but yes, when 1:31:47.120 --> 1:31:49.800 you do use it, the utilization will be so low 1:31:50.520 --> 1:31:52.439 it really it really wouldn't matter, you know what I mean. 1:31:52.520 --> 1:31:55.200 So definitely try to get the limit increases sooner than 1:31:55.280 --> 1:31:57.200 later to that way they don't run your credit again. 1:31:57.520 --> 1:31:59.400 Yeah, more trips to Jamaica, Christian. 1:32:01.080 --> 1:32:03.320 Man, because I don't I don't fly. Yeah, thank you, 1:32:03.840 --> 1:32:04.080 thank you. 1:32:04.120 --> 1:32:09.280 Appreciate you. All Right, let's get a few more questions 1:32:09.360 --> 1:32:09.760 if you can. 1:32:10.080 --> 1:32:11.920 Let's let's do uh, let's go. 1:32:14.840 --> 1:32:15.080 Ralph. 1:32:15.080 --> 1:32:17.320 We're coming to you, Ralph, what's going on. I'm mute yourself. 1:32:17.360 --> 1:32:18.360 You've been unmuted. What's the deal? 1:32:21.960 --> 1:32:24.560 Pete Solms, app appreciate you calling me. 1:32:25.200 --> 1:32:25.320 Uh. 1:32:25.720 --> 1:32:29.719 One, I'm an eu L erner. And two I joined 1:32:30.360 --> 1:32:32.879 the Credit Academy about I think last month in February, 1:32:33.120 --> 1:32:37.519 so I'm plugged in on both sides. Appreciate what you 1:32:37.600 --> 1:32:40.240 guys are doing doing for our people. Just this fine 1:32:40.280 --> 1:32:47.080 youal literacy is incredible. Questions for Jose Jose so I 1:32:47.520 --> 1:32:49.280 it was on his zoom earlier today. So I'm waiting 1:32:49.320 --> 1:32:50.880 for the link to sign up with the credit coach. 1:32:51.960 --> 1:32:56.320 But while I got you on the business side, So 1:32:56.439 --> 1:32:59.240 I have a business, been around for well over ten 1:32:59.320 --> 1:33:03.280 years now fifteen years actually, and I have several just 1:33:03.320 --> 1:33:05.800 a couple of business credit cards. So now this this 1:33:05.840 --> 1:33:08.160 is what I were here everybody you know, you guys 1:33:08.200 --> 1:33:10.719 and other folks on social media running all these plays 1:33:10.760 --> 1:33:14.000 on the credit cards. Something I've always shied against. This 1:33:14.200 --> 1:33:16.600 got I have like two or three credit cards, like 1:33:16.680 --> 1:33:18.960 I got AX, I've had for like since twenty ten. 1:33:20.080 --> 1:33:22.360 Got a Bank of America. I've had probably the same length, 1:33:22.400 --> 1:33:27.040 may maybe slightly longer. My question is now I want 1:33:27.080 --> 1:33:29.760 to take it to take this business credit to the 1:33:29.920 --> 1:33:34.200 next level, and like I want to get the Capital 1:33:34.240 --> 1:33:38.320 one Spark card the two percent unlimited. But I'm looking 1:33:38.400 --> 1:33:42.320 to do that strictly in the business name. Is there 1:33:42.400 --> 1:33:44.479 a way or maybe those details I have to work 1:33:44.520 --> 1:33:46.280 out when I get with the coach, But what what's 1:33:46.320 --> 1:33:48.960 the way to do it where I'm not using my 1:33:49.080 --> 1:33:50.280 personal credit. 1:33:51.960 --> 1:33:55.519 So one I would stay away from the Capitol one 1:33:55.600 --> 1:33:58.960 Spark card. If you already have several business credit cards 1:33:59.000 --> 1:34:01.120 with you know it sounds like you do. The reason 1:34:01.200 --> 1:34:04.360 why is because Capital one Spark also reports to the 1:34:04.479 --> 1:34:07.360 personal side, So that is a good credit card if 1:34:07.360 --> 1:34:09.760 you're just starting out with building business credit, and you're 1:34:09.920 --> 1:34:13.080 just starting out even with building personal credit. Capital one 1:34:13.160 --> 1:34:16.120 Spark is gonna run all three bureaus because any Capital 1:34:16.160 --> 1:34:19.760 one credit card, they're gonna run Equifax, Experience, and TransUnion. 1:34:19.960 --> 1:34:21.400 When you get a credit card with them, it doesn't 1:34:21.400 --> 1:34:24.960 matter if it's the Capital one, Quicksilver Spark, a venture, 1:34:25.160 --> 1:34:27.680 doesn't really matter. So I would stay away from them. 1:34:28.160 --> 1:34:30.840 And honestly, when was the last you said you've had 1:34:30.880 --> 1:34:32.280 your MX since twenty ten? 1:34:32.960 --> 1:34:34.400 Yes, that's correct, okay. 1:34:34.439 --> 1:34:36.320 And it's a personal or a business. 1:34:36.880 --> 1:34:38.280 No, it's business, okay. 1:34:38.400 --> 1:34:42.240 So what you should do log into your American Express 1:34:42.360 --> 1:34:47.040 account online AmericanExpress dot com, not the app, look at 1:34:47.160 --> 1:34:49.960 whatever business credit cards you want, and when you apply 1:34:50.120 --> 1:34:52.920 with them like that, because you already have a relationship 1:34:52.960 --> 1:34:55.800 with American Express, you can typically apply for all the 1:34:55.920 --> 1:35:00.320 charge cards and two more revolving credit cards without running 1:35:00.360 --> 1:35:02.280 your credit at all. And I think that would be 1:35:02.320 --> 1:35:03.760 a better play for you if you're worried about them 1:35:03.840 --> 1:35:06.640 running your credit. It'll still be a personal guarantee, but 1:35:06.720 --> 1:35:08.360 they're not going to do a personal credit check. 1:35:09.439 --> 1:35:11.479 Ah, got it, got it? Okay, got that. 1:35:11.680 --> 1:35:14.479 That makes sense because the reason I want to avoid 1:35:14.560 --> 1:35:16.760 the personal now is in the process of buying the house, 1:35:16.800 --> 1:35:19.120 so I don't want to keep those inquirers down sop. 1:35:19.479 --> 1:35:20.840 So they won't run your credit at all. 1:35:20.920 --> 1:35:22.200 Man, if you do it that way, you just got 1:35:22.320 --> 1:35:24.320 to make sure you log into your account at American 1:35:24.360 --> 1:35:26.560 Experts dot com, which you're using him in password, and 1:35:26.560 --> 1:35:28.720 apply like that and they won't ask you for your 1:35:28.760 --> 1:35:31.240 social to just ask you for EI in business information 1:35:31.400 --> 1:35:32.080 and you'd be good to go. 1:35:32.920 --> 1:35:34.400 Got it. Appreciate you guys. 1:35:34.479 --> 1:35:41.120 Help appreciate your Wel you, sir. Let's get more and 1:35:41.360 --> 1:35:44.479 Jose before we get to the last question. Jose's teaching 1:35:44.520 --> 1:35:46.800 a class in a couple of weeks, so anybody that 1:35:47.160 --> 1:35:49.680 wasn't able to get their questions answered, make sure you 1:35:49.760 --> 1:35:52.320 tap into that class. And he actually teaches I think 1:35:52.400 --> 1:35:55.400 like three or four classes once a month. Yeah, once 1:35:55.479 --> 1:35:57.880 a month, yeah, credit class once a month. 1:35:57.960 --> 1:35:58.160 Yeah. 1:35:58.160 --> 1:36:00.479 He's actually a tenured professional to teach is a class 1:36:01.080 --> 1:36:04.640 regularly for Eyo University. So this stuff literally, they you know, 1:36:04.840 --> 1:36:06.599 get this all the time, and this is just one 1:36:06.920 --> 1:36:09.000 facet of it being talking about the real estatement, talking 1:36:09.000 --> 1:36:11.360 about the financial planning, the book club, all that stuff. 1:36:11.439 --> 1:36:14.679 So you know the value, Like I said, the retail 1:36:14.760 --> 1:36:17.439 price for Eyo University is two thousand dollars, but right 1:36:17.520 --> 1:36:20.160 now it's six ninety nine. So six hundred and ninety 1:36:20.200 --> 1:36:23.799 nine is the actual price right now, and that changes 1:36:24.120 --> 1:36:24.880 forty eight hours. 1:36:25.160 --> 1:36:26.800 Like I said, we'll still run a sale. 1:36:27.160 --> 1:36:28.880 It'll probably be fifty percent off, so they'll probably be 1:36:28.920 --> 1:36:31.200 a thousand dollars on Friday or after Friday. 1:36:31.640 --> 1:36:34.439 But yeah, it's six ninety nine right now. That's what 1:36:34.520 --> 1:36:36.400 we did last time, and that we just never changed it. 1:36:36.439 --> 1:36:38.080 We just let it run for a whole month. 1:36:38.160 --> 1:36:40.280 So I don't know, it sounds like it's like a 1:36:40.360 --> 1:36:43.000 good deal to me, But you know, if you're interested, 1:36:43.560 --> 1:36:45.519 click the link if you want to, if you want 1:36:45.520 --> 1:36:47.040 to be a part of it. But I mean, the 1:36:47.120 --> 1:36:48.280 information is priceless. 1:36:48.600 --> 1:36:52.240 Candice, Hello, Hello, I see you already there. I have 1:36:52.320 --> 1:36:53.920 to tell you. I'm mute yourself. You got to you 1:36:54.040 --> 1:36:55.840 have the final question? What's going on? 1:36:56.200 --> 1:36:56.400 Wow? 1:36:56.479 --> 1:36:57.000 That's awesome. 1:36:57.080 --> 1:36:59.599 Okay, So I've joined you guys, I can't remember back 1:36:59.600 --> 1:37:04.040 in scept remember, I think, and I started following you 1:37:04.280 --> 1:37:09.120 a following Jose and him five hundred, and you guys 1:37:09.160 --> 1:37:13.080 were talking about I remember trying to get credit cards 1:37:13.120 --> 1:37:16.120 and before my credit was like five ninety and today 1:37:16.160 --> 1:37:20.599 I got a new score from Experience seven eight. 1:37:21.800 --> 1:37:24.320 Congratulations. I've never been seven. 1:37:24.520 --> 1:37:27.880 Ever met congratulations fires in a chat for kenn this 1:37:28.000 --> 1:37:30.920 one time. Congratulations love it. 1:37:31.720 --> 1:37:33.880 So my question I was, I was listening to someone 1:37:33.920 --> 1:37:35.679 and they were saying, there's a twenty four or five 1:37:35.880 --> 1:37:38.519 rule because what I was trying to do the other 1:37:38.600 --> 1:37:41.240 day I tried because my number, my scores had jumped up. 1:37:41.479 --> 1:37:45.120 I was trying to get a Sam's Business card because 1:37:45.120 --> 1:37:47.160 I don't want to start my Airbnb and I was 1:37:47.200 --> 1:37:48.960 trying to get a Sam's Business card and they I 1:37:49.000 --> 1:37:52.880 didn't get the immediate approval, and I still haven't gotten 1:37:52.920 --> 1:37:54.680 a letter at you know, saying why, But is it 1:37:54.760 --> 1:37:58.920 because I've already done so many credit cards and like 1:37:58.960 --> 1:38:01.040 I guess, I got my car ref I got two 1:38:01.120 --> 1:38:02.639 new credit cards, and I try to do a couple 1:38:02.640 --> 1:38:04.879 other things. And I did all that in January and February. 1:38:06.400 --> 1:38:09.080 So do you think so the five twenty four rule 1:38:09.120 --> 1:38:10.800 typically applies to Chase. 1:38:11.040 --> 1:38:13.240 That's the biggest one that I've seen it with, meaning 1:38:13.320 --> 1:38:15.800 that if you have like five or more open credit 1:38:15.880 --> 1:38:17.920 cards in the last twenty four months, that's typically like 1:38:18.000 --> 1:38:22.320 a Chase rule. But with Sam's Business, did you have 1:38:22.520 --> 1:38:24.640 you you had to provide a personal guarantee for that. 1:38:28.040 --> 1:38:31.760 With the SAME's business, Candice, no, So with. 1:38:31.840 --> 1:38:37.479 The Sam's Business, I tried to add it in my yeah. No, 1:38:37.680 --> 1:38:38.599 they didn't even ask. 1:38:38.439 --> 1:38:43.520 Me for my personal yeah Sames, I'm saying Sam's Sam's. 1:38:43.160 --> 1:38:47.800 Club, BJ's Costco. They should never ask you for your 1:38:47.840 --> 1:38:50.439 personal credit. So that has nothing to do with the 1:38:50.520 --> 1:38:52.840 personal credit side and has everything to do with the 1:38:52.920 --> 1:38:53.639 business credit. 1:38:53.760 --> 1:38:56.519 So build your do you know you have the LLC 1:38:56.680 --> 1:38:58.320 and you how long have you had the LLC open 1:38:58.400 --> 1:38:59.880 and everything? It started building business credit. 1:39:00.400 --> 1:39:02.840 I've had my LLC since. 1:39:03.000 --> 1:39:06.640 December December, okay, So what you want to do is 1:39:06.800 --> 1:39:09.640 start building more business credit, right, Get nav dot com 1:39:09.800 --> 1:39:12.080 business Boost that will give you an automatic trade line 1:39:12.120 --> 1:39:15.040 for each bureau you know, build the regular accounts you 1:39:15.160 --> 1:39:17.000 line you're you're in e y L. So watch the 1:39:17.120 --> 1:39:19.400 videos that I did on the proper steps to building 1:39:19.439 --> 1:39:23.800 the business credit, get some gas cards, and then in 1:39:23.960 --> 1:39:27.439 like sixty days go back to Sam's Club, Bjy's Costco 1:39:27.600 --> 1:39:30.160 things like that and apply again and you should get approved. 1:39:30.920 --> 1:39:33.000 Okay, all right, perfect, Thank you guys so much. 1:39:33.400 --> 1:39:36.519 Thank you and congratulations on that seven hundred. That's life changing. 1:39:36.840 --> 1:39:38.000 Yeah, I'm so excited. 1:39:39.080 --> 1:39:41.519 Eazy Jose always a pleasure man. 1:39:41.840 --> 1:39:43.400 Before we go, I want to I want to give 1:39:43.400 --> 1:39:45.720 you an opportunity to talk because I know a lot 1:39:45.840 --> 1:39:47.960 come of people have asked, like, you know, how can 1:39:48.040 --> 1:39:50.200 they contact you or different things of that nature. 1:39:50.320 --> 1:39:54.360 So can you talk about that? Yeah? So what kind 1:39:54.400 --> 1:39:55.800 of services you provide? Stuff like that? 1:39:56.240 --> 1:39:58.559 Yeah, no, no doubt man. I mean, thank you guys again, 1:39:58.640 --> 1:40:00.559 this is awesome. You know what I mean, flies when 1:40:00.560 --> 1:40:02.519 you're having fun. I didn't realize how you know. We've 1:40:02.520 --> 1:40:04.560 been on here our in forty minutes man, And I 1:40:04.680 --> 1:40:06.800 love answering questions. This is like what I love to 1:40:06.880 --> 1:40:09.240 do and ask people that sit there in my program. 1:40:09.680 --> 1:40:11.000 We do this every week as well. 1:40:12.160 --> 1:40:14.200 The things that we do guys is we help you 1:40:14.320 --> 1:40:16.920 with your personal and business credit. If you only want 1:40:16.960 --> 1:40:19.240 help with your personal credit, that's fine. If you want 1:40:19.280 --> 1:40:22.960 business credit help, that's fine, too. You know, our program 1:40:23.240 --> 1:40:26.280 is not deletion driven, meaning that you could be in 1:40:26.320 --> 1:40:29.000 our program six months, nine months, twelve months and not 1:40:29.080 --> 1:40:31.599 get any deletions. That's that's sometimes the part of credit 1:40:31.680 --> 1:40:34.599 repair and also building your credit. But we will teach 1:40:34.640 --> 1:40:36.720 you how to either settle that account, pay it off, 1:40:36.840 --> 1:40:39.040 build a new credit, whatever the case is. And our 1:40:39.080 --> 1:40:41.000 program is only one hundred dollars a month, right, You're 1:40:41.040 --> 1:40:43.720 really not going to come across a program that does 1:40:43.800 --> 1:40:46.280 your personal credit for you and teaches you our business 1:40:46.320 --> 1:40:48.880 credit and everything that we provide for one hundred dollars 1:40:48.880 --> 1:40:52.000 a month. Cancel any time there's no money up front, 1:40:52.840 --> 1:40:54.720 and that's what it is. It's one hundred dollars a month, 1:40:54.840 --> 1:40:57.040 and you decide what you want to do. A lot 1:40:57.080 --> 1:40:59.400 of the people that have come into our program never 1:40:59.439 --> 1:41:02.280 even thought of opening them a business, but through our program, 1:41:02.640 --> 1:41:05.000 we teach them the importance and this step by step 1:41:05.120 --> 1:41:07.639 guide on how to do everything from starting the LLC, 1:41:07.800 --> 1:41:09.920 get in the EI in, done and brad shoot everything else. 1:41:10.439 --> 1:41:13.160 And now we're empowering you to use your credit to 1:41:13.320 --> 1:41:17.360 leverage not only return on investment, but also education. 1:41:17.800 --> 1:41:20.840 So every single course that EYL has ever thrown out there. 1:41:20.920 --> 1:41:22.880 I have used the business credit card, and I think 1:41:22.920 --> 1:41:24.320 it's like two of them that I haven't bought yet, 1:41:24.360 --> 1:41:26.120 like the vending course and I think the trucking course. 1:41:26.400 --> 1:41:27.040 Everything else. 1:41:27.360 --> 1:41:31.200 I've bought it because it's there's power and education and 1:41:31.439 --> 1:41:34.880 you could use your credit for more than just buying supplies. 1:41:34.960 --> 1:41:37.720 You can use your credit to leverage more education and 1:41:37.800 --> 1:41:41.360 to help you enter rooms that you never thought possible. 1:41:41.400 --> 1:41:43.760 Guys, So you know, like I said, my program is 1:41:43.840 --> 1:41:44.880 not a three month program. 1:41:45.000 --> 1:41:45.439 Six month. 1:41:45.479 --> 1:41:47.360 I'm not going to promise your credit score. I'm not 1:41:47.439 --> 1:41:49.880 gonna promise you any deletions, but I will promise you 1:41:49.960 --> 1:41:50.640 the access to. 1:41:50.680 --> 1:41:53.160 The god credited academy where if you do the work 1:41:53.520 --> 1:41:55.599 and we help you do the work, you have credit 1:41:55.680 --> 1:41:58.320 coaches here in the US. We have we're gonna start doing, 1:41:58.400 --> 1:41:59.960 you know, tours and things like that. We're going to 1:42:00.040 --> 1:42:03.719 see our clients. But give me twelve months. Dedicate twelve 1:42:03.760 --> 1:42:05.600 months to me, and I promise that I've changed the 1:42:05.680 --> 1:42:08.920 trajectory of you and your life and your family as well. 1:42:09.680 --> 1:42:13.080 You have it. Appreciate that, Jose. And once again Jose 1:42:13.200 --> 1:42:15.360 actually teaches monthly for Eyo University. 1:42:16.000 --> 1:42:16.880 Very very good guy. 1:42:17.920 --> 1:42:22.880 Actually has helped family members out, my family and members out, 1:42:22.920 --> 1:42:27.840 So definitely recommend him and his services for sure. And yeah, 1:42:28.000 --> 1:42:30.479 once again Eyo University. This is what we do every 1:42:30.520 --> 1:42:33.400 single week. Jose comes once a month, but we do everything. 1:42:33.479 --> 1:42:36.960 It's not like an investment club. It's not just real estate. 1:42:37.080 --> 1:42:39.760 It's everything, literally everything that we talk about your leisure. 1:42:39.840 --> 1:42:45.679 Everything from entrepreneurship to investing, to cryptocurrency, to real estate 1:42:45.800 --> 1:42:49.920 to credit. So yeah, so you know everything. And like 1:42:50.000 --> 1:42:52.840 I said, it's a community. So we have infinity groups 1:42:52.880 --> 1:42:57.000 inside of it. We have book club, movie club, We 1:42:57.080 --> 1:43:00.439 got the financial planning calls, and actually you can access 1:43:00.600 --> 1:43:02.759 to MG the mortgage Guys Homeboys blueprint. 1:43:02.760 --> 1:43:03.400 I forgot about that. 1:43:03.840 --> 1:43:06.080 So you get access to the home Buyers Blueprint, which 1:43:06.200 --> 1:43:09.840 is like ten hours of education every single thing that 1:43:09.920 --> 1:43:12.080 you need to know. That that alone is probably v 1:43:13.040 --> 1:43:14.840 buying one and two. Yeah, everything you need to know 1:43:14.880 --> 1:43:17.800 about how to buy home, how to rehab a home. 1:43:18.520 --> 1:43:21.759 It's like fifteen hours of information that's included with Ewyo 1:43:21.880 --> 1:43:25.120 University membership. So I mean it's crazy. So yeah, so 1:43:25.200 --> 1:43:27.600 we got the sale running six ninety nine for the 1:43:27.840 --> 1:43:32.160 entire year, for twelve months, and that's going to run 1:43:32.240 --> 1:43:35.200 to the end of Friday, I think, so if you're interested, 1:43:35.320 --> 1:43:38.880 click the link Eyo University and sign up. Man anything 1:43:38.880 --> 1:43:40.160 else you want to talk about before we head out, 1:43:40.240 --> 1:43:42.880 So almost an hour and fifty forty five minutes, So 1:43:43.200 --> 1:43:43.920 watch the replay. 1:43:43.960 --> 1:43:44.720 The replay will be. 1:43:44.720 --> 1:43:47.919 On YouTube, and then we'll put it on podcast outlets 1:43:48.000 --> 1:43:50.559 for study Hall. That'll be out on Friday. So if 1:43:50.600 --> 1:43:52.439 you want to listen to it in your car, check 1:43:52.479 --> 1:43:55.840 it out on Friday on the podcast outlets and then 1:43:56.160 --> 1:43:59.519 this replay will be available on YouTube. 1:44:00.120 --> 1:44:02.240 Yeah, make sure when you join that we have an 1:44:02.320 --> 1:44:04.519 orientation and so a lot of people, you know, when 1:44:04.560 --> 1:44:07.120 they start school, they're a new kid on the block, 1:44:07.120 --> 1:44:08.719 they don't know where to go, and so we have orientation. 1:44:08.760 --> 1:44:10.160 Shout out to jam I know she's in here right 1:44:10.160 --> 1:44:12.600 now that she leads you through the process. Right. So 1:44:12.720 --> 1:44:15.560 we have over one hundred and fifty videos archive. 1:44:15.360 --> 1:44:18.320 But they're section into your interests and so once you 1:44:18.400 --> 1:44:20.640 find your interests, not only you're gonna find videos there, 1:44:20.680 --> 1:44:22.600 but you're gonna find people who have like minds in 1:44:22.680 --> 1:44:24.960 that inside that space too. And so it's a space 1:44:24.960 --> 1:44:27.800 where you can actually ask questions and find people with 1:44:27.920 --> 1:44:31.280 similar backgrounds and similar interests. It might even be in 1:44:31.320 --> 1:44:33.920 a similar area, right, you might find people that live 1:44:34.040 --> 1:44:36.800 where you live that are interested in the things you are. 1:44:36.920 --> 1:44:39.280 So shoutut to everybody that's been in our groups, in 1:44:39.320 --> 1:44:40.639 our shout out to jam for the orientation. 1:44:41.840 --> 1:44:45.920 Yeah, that's it all right, guys, been real see you 1:44:45.960 --> 1:44:50.280 on the other side. Shout out to Andre Hatchitt. Appreciate you, brother. 1:44:51.040 --> 1:44:51.640 Your love is love. 1:44:51.720 --> 1:44:54.120 Y'all appreciate you, bro, Thank you guys. 1:44:54.720 --> 1:44:56.680 Thanks everybody for the super chats. Also, we ain't get 1:44:56.680 --> 1:44:57.840 a chance to read it, but it's all love. 1:44:57.920 --> 1:44:59.080 Oh yeah, shout to y'all. 1:45:00.000 --> 1:45:04.280 Just realized your business needed to hire someone yesterday. 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