WEBVTT - BA Q&A: How To Establish Business Credit 0:00:06.240 --> 0:00:09.440 It's time for the b a q a A. The 0:00:09.520 --> 0:00:10.479 b a q A. 0:00:10.680 --> 0:00:13.119 Okay, the b a q A what you say the 0:00:13.200 --> 0:00:19.560 b a q A. Welcome Black family, Brandavisian family. We 0:00:19.600 --> 0:00:23.360 are here for a Brandavision question and answers. You have questions, 0:00:23.400 --> 0:00:26.880 We have kind of answers. But we're not your mama, 0:00:26.920 --> 0:00:30.640 your therapist, your doctor, not even what we're your own 0:00:30.720 --> 0:00:33.560 like cousins. You know, we're not your financial advisors. 0:00:33.560 --> 0:00:34.400 So certainly we. 0:00:34.320 --> 0:00:37.280 Want you to take what we say with the tiny 0:00:37.320 --> 0:00:38.839 grain of salt because we don't want you to get 0:00:38.840 --> 0:00:40.919 you know, high blood pressure. You know how our community 0:00:40.960 --> 0:00:43.720 do so. But we're here to just you know, your 0:00:43.760 --> 0:00:46.280 financial besties, just leaning in. 0:00:46.360 --> 0:00:48.400 We don't even know you'll sometimes so how are we 0:00:48.440 --> 0:00:50.960 supposed to give you super specific advice? Y'all want to 0:00:50.960 --> 0:00:52.400 be anonymous. 0:00:53.479 --> 0:00:59.440 Aka Sue your grandma, not us, So yes, man's brother. 0:00:59.480 --> 0:01:03.120 We have some questions for today. 0:01:02.360 --> 0:01:04.479 Got some juicy, juicy questions. If y'all want to submit 0:01:04.560 --> 0:01:06.960 questions and have them read on our special baq and 0:01:07.000 --> 0:01:10.000 A episodes, go to brandnambissionpodcast dot com and click ask 0:01:10.080 --> 0:01:13.600 us anything. You can also email us at Brandambisson podcast 0:01:13.640 --> 0:01:17.120 dot com or slide into the DMS on ig. We 0:01:17.160 --> 0:01:20.319 are at Brand Ambition podcast and you could be answered 0:01:20.360 --> 0:01:23.000 on the show. If you want to be anonymous, fine, 0:01:23.040 --> 0:01:24.360 I don't know how many of y'all are on these 0:01:24.360 --> 0:01:25.720 witness protection programs. 0:01:25.880 --> 0:01:26.160 I know. 0:01:26.319 --> 0:01:27.400 Just pick up a fake name. 0:01:27.520 --> 0:01:30.920 Honestly, here's my request, because it's fun for us. Come 0:01:31.000 --> 0:01:33.800 up with some outlandish name. You know, I don't care. 0:01:33.840 --> 0:01:36.279 You could say my name is Potato, just something fun 0:01:36.880 --> 0:01:43.120 like we're like, yeah, exactly, silly and Cincinnati something, you know. 0:01:44.600 --> 0:01:46.720 I do like the last show when you switched it 0:01:46.760 --> 0:01:49.680 to Annie. So if you're anonymous, you're gonna be Annie. Okay, yes, 0:01:50.480 --> 0:01:54.360 all right, Annie says in all cabs, please withhold my name. Fine, 0:01:54.960 --> 0:01:56.760 I do. I think this is a great question, though. Ooh, 0:01:56.800 --> 0:01:59.040 I can't wait to get into this. Hey Mandy, she says. 0:01:59.120 --> 0:02:02.680 I'm the communicatations manager at a small nonprofit with about 0:02:02.720 --> 0:02:06.120 four hundred and fifty ish employees. We had a team 0:02:06.120 --> 0:02:09.279 meeting with my director and the media producer regarding commercials. 0:02:09.440 --> 0:02:11.560 We all disliked the ads that we paid for and 0:02:11.600 --> 0:02:15.720 were created by a local TV station. Impulsively, I suggested 0:02:15.800 --> 0:02:19.120 that we write and produce our own commercial. Well, Sis, 0:02:19.240 --> 0:02:21.680 ad copy ain't in my job description, and at fifty 0:02:21.720 --> 0:02:26.640 eight K, I'm already a bargain. What was I thinking? Question? 0:02:27.040 --> 0:02:29.440 I have written one commercial and now I'm being asked 0:02:29.480 --> 0:02:32.200 to write another one. How can I gracefully back out 0:02:32.240 --> 0:02:34.240 of this and explain that they need to hire an 0:02:34.280 --> 0:02:37.600 ad agency? Side note, I'm a new hire in just 0:02:37.720 --> 0:02:44.600 ninety days into a six month probationary period. She fell 0:02:44.639 --> 0:02:46.600 into a trap, the helpful trap. 0:02:47.080 --> 0:02:48.400 Yeah, please trap. 0:02:49.840 --> 0:02:51.840 And I'm not gonna lie chap. That's a trap. I've 0:02:52.000 --> 0:02:55.280 limited Toppy. I have to each delivered to my trap. 0:02:55.520 --> 0:02:58.920 I'm not gonna be here for a while, permanent address 0:02:58.960 --> 0:03:03.120 at the trap. That's the real, real trap house for Brad. 0:03:04.120 --> 0:03:04.880 So I'm gonna like it. 0:03:04.960 --> 0:03:06.880 I'm gonna honestly let maybe take the lead because that 0:03:07.320 --> 0:03:08.400 this is not I'm like, I'm. 0:03:08.280 --> 0:03:10.680 Listening, like, wait, so what will we do? Mandy? But 0:03:10.760 --> 0:03:11.880 I will say this is something. 0:03:12.240 --> 0:03:15.360 This is what I learned from doctor Green because she like, 0:03:15.480 --> 0:03:17.560 this is something I did something similar and she said, 0:03:17.720 --> 0:03:20.920 just because you agree to something once, does that mean 0:03:20.960 --> 0:03:22.840 you agree to it for a lifetime? So she like, 0:03:23.000 --> 0:03:24.960 so that's something like I'm still honestly working on it 0:03:24.960 --> 0:03:27.240 because it's hard. And she said, so if you say 0:03:27.400 --> 0:03:29.560 I don't like onions when you're four, So Tiffany, you 0:03:29.560 --> 0:03:31.359 were a band from eating onions now that you're forty two. 0:03:31.800 --> 0:03:34.120 And I'm like, no, Well, She's like, well that's how 0:03:34.120 --> 0:03:36.280 you're navigating. So I'm saying all that to say, that's 0:03:36.320 --> 0:03:38.360 all I know because I'm in there with you, girl, 0:03:38.520 --> 0:03:40.320 tell me what you want from Uber Eats because you 0:03:40.360 --> 0:03:41.160 and I in there together. 0:03:41.160 --> 0:03:42.440 That's so Mandy, what should we do? 0:03:43.000 --> 0:03:46.200 Yeah, so this is an opportunity for a boundary. I 0:03:46.240 --> 0:03:48.720 wouldn't beat yourself up too much because in a way, 0:03:48.880 --> 0:03:51.920 you needed to test out, you know, this new idea 0:03:51.960 --> 0:03:53.920 of creating an ad and doing it yourself. Test it 0:03:53.920 --> 0:03:55.920 out to see if you guys liked it. Okay, they 0:03:56.040 --> 0:03:58.400 liked it, and you're the I get it. You're ninety 0:03:58.440 --> 0:04:00.480 days into a new opportunity and you want to make 0:04:00.480 --> 0:04:03.720 a good impression. You want to be energetic and enthusiastic 0:04:03.760 --> 0:04:06.840 and have great ideas, but you also want to show 0:04:06.880 --> 0:04:09.240 people how to work with you from an early stage 0:04:09.240 --> 0:04:11.040 when you're new, and I think in the first undy 0:04:11.120 --> 0:04:13.680 days it's an excellent opportunity for this to be your 0:04:13.720 --> 0:04:17.880 first capital B boundary. So I think this is also important. 0:04:17.960 --> 0:04:20.920 Why when you are overseeing any project or any new 0:04:20.960 --> 0:04:24.720 initiative that you set in, you schedule time to debrief, 0:04:24.880 --> 0:04:26.960 and you schedule time to have sort of like a 0:04:27.000 --> 0:04:29.360 look back at how the project went and then what 0:04:29.400 --> 0:04:31.120 are next steps and how are we going to spin 0:04:31.200 --> 0:04:33.279 this forward and what are we going to do? Because 0:04:33.279 --> 0:04:35.720 that gives you an opportunity to say, so, I did 0:04:35.760 --> 0:04:38.760 it this time long, long term, we need to hire 0:04:38.760 --> 0:04:41.599 this agency in order to really you know, make this 0:04:42.560 --> 0:04:44.800 make this new commitment, or get the budget that we 0:04:44.839 --> 0:04:48.040 need for it. So I think you approaching it by 0:04:48.040 --> 0:04:50.000 going to your manager and saying, you know, actually, let's 0:04:50.040 --> 0:04:53.280 have a conversation about this initiative and I'll give you 0:04:53.400 --> 0:04:56.320 a projection on what I think we need for this 0:04:56.400 --> 0:04:58.960 to be like a long term initiative for us, and 0:04:59.080 --> 0:05:02.040 here's how much it could cost. You could even help 0:05:02.080 --> 0:05:05.400 them out by I don't know, suggesting two to three 0:05:05.440 --> 0:05:09.560 agencies that you've worked on vetting or even backing that 0:05:09.680 --> 0:05:12.520 up and saying, as a next step, I will, you know, 0:05:12.600 --> 0:05:14.520 if this is part of your job description, I don't know, 0:05:15.040 --> 0:05:17.240 look into some ad agencies and come to you guys 0:05:17.240 --> 0:05:19.280 and ask for them to give proposals and come to 0:05:19.320 --> 0:05:23.200 you guys with options so that you're not you're not 0:05:23.320 --> 0:05:25.800 taking away the new initiative. Everyone's excited about. You all 0:05:25.839 --> 0:05:29.160 recognize you need it, but you are getting clear. You're 0:05:29.160 --> 0:05:31.560 getting clear with them that it can't just fall, you know, 0:05:31.680 --> 0:05:35.560 on your shoulders, And depending on how they respond to that, 0:05:35.839 --> 0:05:38.440 then you can decide, is there another conversation that needs 0:05:38.520 --> 0:05:41.520 to be had about what my duties and job responsibilities here? 0:05:41.560 --> 0:05:44.080 So I can get clarity. But you don't want to 0:05:44.160 --> 0:05:46.080 let this go, because if you let this go, you're 0:05:46.120 --> 0:05:48.479 sending a message the same way my mom told me, 0:05:48.560 --> 0:05:51.280 make sure that you don't tell your boyfriend Enrique that 0:05:51.320 --> 0:05:53.640 you don't care about Valentine's Day when you're first dating. 0:05:53.640 --> 0:05:54.919 She's like, no, no, no, no, you don't want to 0:05:54.920 --> 0:05:57.720 set a president. You want him, you know what I mean. 0:05:57.760 --> 0:06:00.520 So those messages early on can really set up president 0:06:00.560 --> 0:06:02.760 for the rest of your relationship and the rest of 0:06:02.800 --> 0:06:05.000 your you know, your job here. 0:06:05.480 --> 0:06:07.640 Yeah, no, that's good. I'm like, okay, I'm not making 0:06:07.720 --> 0:06:09.400 a notebook. I'm like, okay, does that stress you out? 0:06:09.440 --> 0:06:12.400 Said like the bee for boundary? 0:06:14.680 --> 0:06:17.039 Uh No, honestly, no, all that you said, I've you know, 0:06:17.360 --> 0:06:19.480 it's true, and it's sometimes hard. 0:06:19.560 --> 0:06:21.760 And so if you're someone like me who. 0:06:22.520 --> 0:06:24.920 Has a hard time with the hard conversations, one of 0:06:24.920 --> 0:06:27.479 the things I do practice, and that doctor Green taught me, 0:06:27.600 --> 0:06:32.440 is to practice saying the hard things to in easy times, 0:06:32.480 --> 0:06:36.359 meaning like, uh, is there someone at your job that 0:06:36.440 --> 0:06:38.359 you know, like this is actually the nicest person to 0:06:38.440 --> 0:06:41.279 kind of approach with this to start planning that seed 0:06:41.880 --> 0:06:45.440 or just even outside of this, like you know, when 0:06:45.440 --> 0:06:47.599 the waiter brings you the wrong thing, practice saying, hey, 0:06:47.640 --> 0:06:48.520 this is not what I order. 0:06:48.600 --> 0:06:49.600 So, like literally I have to. 0:06:49.520 --> 0:06:52.600 Build up the muscle because wherever you are, there you go. 0:06:53.120 --> 0:06:56.240 And so I'm learning to practice the hard conversations with 0:06:56.320 --> 0:06:59.599 easy people so that way I have enough muscle built 0:06:59.600 --> 0:07:02.799 that when these hard conversations come up to create a boundary. 0:07:03.120 --> 0:07:05.560 You know, it's it's not that it's easy, but I 0:07:05.600 --> 0:07:07.440 at least had a lot more practice. So that's what 0:07:07.480 --> 0:07:09.720 I honestly been doing. You'll see me say that. Like 0:07:09.720 --> 0:07:12.800 even during our last you know, when our first kind 0:07:12.800 --> 0:07:18.000 of like welcome back to like Tiffany podcast episode, right that, 0:07:18.120 --> 0:07:21.000 like I had to reassert the boundary because I knew 0:07:21.120 --> 0:07:21.800 if I did it. 0:07:22.400 --> 0:07:24.800 You know that you know I would. I would. I 0:07:24.800 --> 0:07:25.480 wouldn't want to say. 0:07:25.480 --> 0:07:27.160 I'm like, oh, I want to disappoint Mandy and everybody else, 0:07:27.200 --> 0:07:29.600 and listening, I'm like, no, no, no, no, Tiffany, you have 0:07:29.680 --> 0:07:33.440 to say the thing now. Because Mandy is nice. This 0:07:33.480 --> 0:07:36.320 is an easy person to practice the hard conversation with, 0:07:36.800 --> 0:07:39.120 you know, and so like, because there'll be other places 0:07:39.120 --> 0:07:40.960 that don't give a what and I'm gonna be like, okay, 0:07:41.000 --> 0:07:43.360 but I've already gotten my practice in and so like. 0:07:43.440 --> 0:07:45.680 It's just that's what I could suggest if you're someone 0:07:45.720 --> 0:07:48.920 like me who really gets anxious about having the hard conversations, 0:07:48.920 --> 0:07:51.800 to really practice them with nice, easy people. So when 0:07:51.800 --> 0:07:53.600 it comes down to it, you know you've got some 0:07:54.480 --> 0:07:56.160 he got some practice under your belt. 0:07:56.440 --> 0:07:58.600 Yeah, and I will. I'm going back to your question. 0:07:58.880 --> 0:08:03.040 Remind you that the manager is in your title communications manager, 0:08:03.600 --> 0:08:05.720 and as a leader and someone who's going to be 0:08:05.720 --> 0:08:09.360 overseeing strategy for that particular department, it's on you to 0:08:09.640 --> 0:08:12.440 tell them the solution for the problem. So you've told 0:08:12.480 --> 0:08:15.040 them the solution, we should do our own commercials. But 0:08:15.360 --> 0:08:17.880 they and you both took that to mean, we meeting me, 0:08:18.400 --> 0:08:20.720 but how easily could you have gone out and found 0:08:20.720 --> 0:08:23.600 your own ad writer copywriter to write that commercial? And 0:08:23.640 --> 0:08:26.240 maybe you're overseeing it, but I think that was one 0:08:26.280 --> 0:08:28.760 of the really challenging lessons for me as a leader. 0:08:28.800 --> 0:08:30.600 And I actually just did a whole session on this 0:08:30.680 --> 0:08:33.320 with my Bandy money Makers last week and really just 0:08:33.400 --> 0:08:36.000 like cathartic for me, because in those early days as 0:08:36.000 --> 0:08:39.680 a leader, I thought me doing everything was how I 0:08:39.679 --> 0:08:42.200 should lead, and it's how I sent the message that 0:08:42.240 --> 0:08:44.840 I'm a good leader because I can handle everything. But 0:08:44.880 --> 0:08:48.079 that's just a fast track to burnout, burnout and resentment 0:08:48.600 --> 0:08:52.280 and toxic work environment that you really create yourself. Because 0:08:52.400 --> 0:08:55.720 for me, the epiphany was being a good leader is 0:08:55.800 --> 0:08:58.040 necessarily doing it yourself. It's knowing what you need to 0:08:58.080 --> 0:09:00.360 do and then finding solutions for it and bring other 0:09:00.400 --> 0:09:03.360 people in and letting them help you, you know, achieve that. 0:09:03.960 --> 0:09:06.120 And it's also really important in your first ninety days 0:09:06.160 --> 0:09:11.120 at this job to set expectations that your managers will 0:09:11.160 --> 0:09:12.679 give you the resources you need to be able to 0:09:12.760 --> 0:09:14.640 do that job. So if it's a you coming to 0:09:14.679 --> 0:09:17.000 them with this proposal for okay, we want to continue 0:09:17.040 --> 0:09:19.760 doing this here's the budget I need to hire a 0:09:19.840 --> 0:09:22.680 freelance ad writer, you know, here's the budget that I 0:09:22.760 --> 0:09:26.160 need to get the recording equipment, whatever. And give them 0:09:26.360 --> 0:09:28.679 sort of a long term budget plan and then if 0:09:28.679 --> 0:09:30.839 they decide they want to put the resources in, then cool. 0:09:31.200 --> 0:09:33.120 But if they decide that they won't, then it's time 0:09:33.160 --> 0:09:36.040 to put that boundary down again and say, well, it's 0:09:36.080 --> 0:09:39.040 not going to be realistic for me to take on 0:09:39.120 --> 0:09:43.079 this responsibility with the umpteen other responsibilities that I have. 0:09:43.200 --> 0:09:45.200 So what are we going to do? Maybe there's no 0:09:45.240 --> 0:09:49.600 commercials for a while, and then be quiet and then 0:09:49.640 --> 0:09:50.240 be silent. 0:09:51.640 --> 0:09:54.000 I love what you said because it's true. Good leaders 0:09:54.320 --> 0:09:56.360 let good people do good work. That is like a 0:09:56.440 --> 0:09:59.000 lesson that like really drove home. You know now that 0:09:59.040 --> 0:10:01.080 my team is much small, and I really look around 0:10:01.120 --> 0:10:03.000 and I'm like, when you have the right people in 0:10:03.000 --> 0:10:05.120 the right place, I don't have to sweat anybody. Like 0:10:05.120 --> 0:10:08.439 I'm like, tifany, just take a step back. Logan got it, Rose, 0:10:08.440 --> 0:10:09.920 got it. You've got to be in that email. If 0:10:09.960 --> 0:10:11.679 there's something there she needs, she gonna let you know. 0:10:11.760 --> 0:10:15.199 Tam got it. You know. So yep, so we wish 0:10:15.200 --> 0:10:18.920 you loved Annie. 0:10:19.360 --> 0:10:22.079 Good luck. All right, let's take a quick break out 0:10:22.120 --> 0:10:24.559 and be back with another of your baq and a's. 0:10:26.920 --> 0:10:28.960 Hey, y'all, we are black and back. 0:10:29.559 --> 0:10:33.080 Our next question is from Amanda, not to be confused 0:10:33.120 --> 0:10:39.040 with Mandy. Okay, so Amanda says, hey, y'all, hoping all 0:10:39.120 --> 0:10:42.400 is well, and Tiffany continues to heal. I am thank you, Mandy. 0:10:42.440 --> 0:10:46.360 I'm loving the solo content. Thank you for hashtag keeping 0:10:46.400 --> 0:10:50.360 all the things going true. Indeed, So here's my question. 0:10:51.240 --> 0:10:54.199 I've had a small consulting business for more than seven 0:10:54.360 --> 0:10:58.200 years and not ever had a business credit card. My 0:10:58.320 --> 0:11:01.440 partner and I have business debit cards for routine expenses 0:11:01.440 --> 0:11:04.559 and travel, and we've had to hit our line of 0:11:04.600 --> 0:11:06.920 credit several times when cash flow is messy. 0:11:07.080 --> 0:11:08.160 Child, do not know it? 0:11:08.840 --> 0:11:11.160 I'd like to consider a business credit card, but how 0:11:11.160 --> 0:11:13.960 does it work? Do I, as the owner secure it 0:11:13.960 --> 0:11:15.760 with my personal Social Security number? 0:11:15.800 --> 0:11:17.280 I have good credit? Good girl? 0:11:18.040 --> 0:11:20.760 Does the business need its own credit? We have a 0:11:20.840 --> 0:11:24.120 done in Bradstreet number and haven't really used it, nor 0:11:24.160 --> 0:11:27.360 do I really understand it. Goals are to pay less 0:11:27.400 --> 0:11:30.840 interest for larger charges, a lot of credit alternative, and 0:11:30.880 --> 0:11:33.839 build points by charging and paying off regular monthly expenses. 0:11:34.160 --> 0:11:36.520 Any extra info you could offer on the topic is 0:11:36.559 --> 0:11:37.560 so appreciated. 0:11:37.920 --> 0:11:41.000 Bonus if you have a recommendation for a great buz 0:11:41.160 --> 0:11:43.200 credit card, thanks so much. 0:11:44.400 --> 0:11:46.720 I got my business credit card when I started Mandy 0:11:46.760 --> 0:11:49.000 Money because I think there's just that common advice out 0:11:49.000 --> 0:11:53.120 there you establish your credit business credit early, and for me, 0:11:53.720 --> 0:11:55.960 I was the guaranteur, like me personally, because I didn't 0:11:55.960 --> 0:11:58.320 have a business for any long point of time at 0:11:58.360 --> 0:12:01.800 that point. So my personal credit is my collateral, you know, 0:12:02.320 --> 0:12:04.839 So yes, I use my social I don't even remember 0:12:04.880 --> 0:12:07.960 if they asked anything about my employment ID number or 0:12:08.000 --> 0:12:11.120 what's it called a t I N tax employment number, 0:12:11.200 --> 0:12:13.680 tax identification number. I'm like, that does not that's not 0:12:13.720 --> 0:12:17.480 the acronym anyway. And because of my and because I 0:12:17.520 --> 0:12:20.160 have strong credit too, I got approved, you know, pretty quickly. 0:12:20.320 --> 0:12:20.840 But I don't know. 0:12:20.880 --> 0:12:22.760 Tip does it matter now that she's seven years in 0:12:22.800 --> 0:12:25.200 and she has a Dan so Dan and Bradstreet or 0:12:25.240 --> 0:12:26.280 is it done in Brad Street? 0:12:26.320 --> 0:12:28.040 I forgot now she said Dan. 0:12:28.600 --> 0:12:32.840 Dan and them, Danny and them. 0:12:32.840 --> 0:12:33.400 You never. 0:12:35.600 --> 0:12:39.840 This is the business version of like your experience and 0:12:39.880 --> 0:12:43.360 your ficos, right, they track your business credit. But you've 0:12:43.360 --> 0:12:44.600 had a business a lot longer. 0:12:44.679 --> 0:12:48.120 So well, I to your point, Like someone told me, 0:12:48.160 --> 0:12:50.560 by the way, hey Tiffany, you should go ahead and 0:12:50.600 --> 0:12:53.040 get your business credit set up before you need it, 0:12:53.080 --> 0:12:55.200 because credit is really like you need to know me 0:12:55.320 --> 0:12:57.880 before you need me. So anybody listening with a new business, 0:12:58.160 --> 0:13:01.000 go ahead and on ahead and do that. But Amanda, 0:13:01.120 --> 0:13:05.199 to Mandy's point, because you've been in business seven years, 0:13:05.240 --> 0:13:07.120 you might be able to just get it based upon 0:13:07.280 --> 0:13:09.640 your business currently because you've already had a line of credit, 0:13:09.679 --> 0:13:12.800 so you likely don't have to necessarily put your credit like. 0:13:12.760 --> 0:13:13.640 On the line. 0:13:13.920 --> 0:13:17.120 For those folks who are new, oftentimes, not only can 0:13:17.200 --> 0:13:18.880 you not get a regular credit card, Like for me, 0:13:19.120 --> 0:13:21.840 I started, like you know, months two, I went to 0:13:21.840 --> 0:13:24.240 get a credit card just to get one, and I 0:13:24.280 --> 0:13:27.040 had to get a secured business credit card that's like 0:13:27.200 --> 0:13:29.800 an actual thing like a secured regular credit card. You 0:13:30.200 --> 0:13:32.400 basically it's like a credit card with training wheels. You 0:13:32.440 --> 0:13:34.760 put down a deposit, they put it into basically like 0:13:34.760 --> 0:13:36.480 a savings account for you, and then they give you 0:13:36.520 --> 0:13:39.280 a card that is the same limit as the as 0:13:39.320 --> 0:13:42.880 the posits that you put down. Typically for business credit cards, 0:13:43.280 --> 0:13:45.319 I think it's like usually the minimums around one thousand 0:13:45.360 --> 0:13:49.040 dollars personal. It's a minimum for secured cards usually like 0:13:49.120 --> 0:13:50.800 three hundreds, four or five hundred dollars. 0:13:50.880 --> 0:13:51.640 So that's what I did. 0:13:51.640 --> 0:13:53.960 I put down one thousand dollars and I got a 0:13:54.000 --> 0:13:55.240 secured business credit card. 0:13:55.400 --> 0:13:55.600 You know. 0:13:55.720 --> 0:13:58.440 I used it like wisely for like a year, and 0:13:58.480 --> 0:13:59.960 then they took the secured part off. 0:13:59.800 --> 0:14:01.560 And me a regular business credit card. 0:14:01.760 --> 0:14:03.720 So what I liked about that is I got to 0:14:03.720 --> 0:14:06.840 build my business credit up, you know, and now you know, 0:14:06.920 --> 0:14:09.200 I've got like an American Express card. So what's so 0:14:09.280 --> 0:14:12.200 great about a business credit card to your point, Amanda, 0:14:12.320 --> 0:14:14.880 is that we use our business credit card, especially we 0:14:14.920 --> 0:14:17.000 switched over to our American Express card because of the 0:14:18.240 --> 0:14:19.640 the what you can do with the points, it is 0:14:19.760 --> 0:14:20.880 just like magical. 0:14:21.040 --> 0:14:25.240 So I use it for marketing. So if I'm running ads. 0:14:24.880 --> 0:14:26.560 Which we do a lot, and sometimes we can spend 0:14:26.600 --> 0:14:29.040 seven figures in a year on ads, and so I 0:14:29.160 --> 0:14:33.520 have traveled extensively off them points that we get as 0:14:33.560 --> 0:14:35.400 a results of my business partner and I for the 0:14:35.400 --> 0:14:37.800 Literature Academy, we go back and forth with using the 0:14:37.840 --> 0:14:40.440 points from American Express. I mean I flew to baut 0:14:40.600 --> 0:14:45.360 BOLLI round trip first class off the points you know, I've. 0:14:45.200 --> 0:14:47.080 Got you and your business partner like split them. 0:14:47.440 --> 0:14:48.920 Yes, we split the points and we use them. 0:14:48.960 --> 0:14:51.680 However, yeah, it's like a trust thing or what do 0:14:51.720 --> 0:14:54.200 you call it. I don't know. Yeah, you have to 0:14:54.280 --> 0:14:56.200 just like kind of say, okay, we share a joint 0:14:56.240 --> 0:14:59.680 custody at these points. Don't the share. 0:15:00.240 --> 0:15:03.680 Are out points? Baby? You're like, it's your weekend, you know. 0:15:03.920 --> 0:15:07.200 And so so that is the benefit of like having 0:15:07.200 --> 0:15:09.600 a business credit card. Yes, obviously you have access to 0:15:09.680 --> 0:15:13.480 more capital, you know, like that. I don't worry as 0:15:13.560 --> 0:15:15.720 much about the interest rates quite honestly, because we pay 0:15:15.720 --> 0:15:17.920 ours off every month in full. But I also don't 0:15:17.920 --> 0:15:21.040 have a physical based business, so that's not possible for 0:15:21.080 --> 0:15:23.680 all people. Me and Mandy have a service based businesses, 0:15:23.720 --> 0:15:28.400 so that's usually more feasible. But yeah, establishing your credit 0:15:28.480 --> 0:15:30.520 getting a business credit card, it sounds like you're already 0:15:30.600 --> 0:15:34.440 doing you know, wisely and using your your business line 0:15:34.440 --> 0:15:36.760 of credit. Go ahead and do that. I wouldn't say 0:15:36.760 --> 0:15:38.360 that I have. I mean, I will say that I 0:15:38.400 --> 0:15:41.480 do like American Express because the points that you're able 0:15:41.480 --> 0:15:43.400 to accumulate, you could use it for so many things. 0:15:43.560 --> 0:15:45.840 But with American Express, be mindful that it's really like 0:15:45.840 --> 0:15:47.280 a charge card, so you have to pay it off. 0:15:47.120 --> 0:15:50.640 Every month in full. Let me see what other do you. 0:15:50.640 --> 0:15:52.240 Have a high like annual fee? 0:15:52.400 --> 0:15:54.800 Oh yeah, that's the thing. It is a high annual fee. 0:15:55.280 --> 0:15:57.800 But I will say that, from what I remember, with 0:15:57.840 --> 0:16:00.160 American Express, you could put it toward things like like 0:16:00.200 --> 0:16:02.600 I was able to get global entry, which is like 0:16:02.600 --> 0:16:05.840 four hundred bucks and so, but with American Express it 0:16:05.880 --> 0:16:08.320 was waved. So global entry means whenever I come back 0:16:08.320 --> 0:16:10.480 to the US, which you know I'm leaving, I'm going 0:16:10.520 --> 0:16:13.920 to Jordan. When I come back in to the US, 0:16:13.920 --> 0:16:15.440 I don't have to like wait in a super long 0:16:15.480 --> 0:16:16.360 line because they. 0:16:16.280 --> 0:16:19.920 Basically preache long line makes me feel richer and more 0:16:20.160 --> 0:16:23.640 like lucks. Skip the long line of customs. 0:16:24.080 --> 0:16:25.160 Yes, take my money. 0:16:25.240 --> 0:16:28.520 I don't care. I'm sorry. 0:16:28.720 --> 0:16:31.040 So you want to ask that like four hundred dollars, 0:16:31.120 --> 0:16:32.960 sometimes you can put it toward things, you know, like 0:16:33.000 --> 0:16:35.280 and that's one of them. I'm also too, I mean, well, 0:16:35.320 --> 0:16:37.040 this is not they don't it's not a business card. 0:16:37.240 --> 0:16:40.880 But Chase, I would probably ask, but for what I know, 0:16:42.480 --> 0:16:44.560 I don't think. I don't know if Chase has a 0:16:44.600 --> 0:16:47.520 business card that you know if that gives like incredible points. 0:16:47.520 --> 0:16:49.360 But you can ask because my personal Chase, like you 0:16:49.400 --> 0:16:51.080 know car, what's that car that I always get the 0:16:51.160 --> 0:16:52.800 name wrong on the. 0:16:52.920 --> 0:16:57.280 Chase good card. Get the name of Chase. 0:16:58.720 --> 0:17:00.480 Yes, yes, Chase. 0:17:00.560 --> 0:17:03.000 I use my Chase a lot as well. But yeah, 0:17:03.040 --> 0:17:04.880 so I would just say start now, you know, start 0:17:04.880 --> 0:17:06.600 building your business credit. I mean you've already built your 0:17:06.600 --> 0:17:08.159 business credit because you've had a line of credit, but 0:17:08.440 --> 0:17:10.320 a credit card you use wisely can certainly be a 0:17:10.320 --> 0:17:10.840 great tool. 0:17:11.280 --> 0:17:13.840 Yeah, And I mean for me, credit card offers changed 0:17:13.840 --> 0:17:16.880 so frequently, and especially now that the economy is coming back, well, 0:17:16.920 --> 0:17:19.480 I know it's well coming back ish, like there's so 0:17:19.560 --> 0:17:22.520 many issues and inflation and sock market crashing all the 0:17:22.560 --> 0:17:25.480 kind of stuff. But credit cards rewards are coming back, 0:17:25.520 --> 0:17:27.200 so they you know, you saw a lot of cards 0:17:27.240 --> 0:17:29.680 pull back on the rewards programs during the pandemic when 0:17:29.680 --> 0:17:32.159 people weren't actually doing the things that we used to do, 0:17:32.240 --> 0:17:34.800 like eat out, and like the reasons you would justify 0:17:34.840 --> 0:17:37.879 getting a rewards card before kind of went away. So 0:17:37.920 --> 0:17:40.119 there may be new offers today that weren't even around 0:17:40.200 --> 0:17:42.200 last summer. So when I got my business card last 0:17:42.200 --> 0:17:45.080 summer I went. I started off going to you know, 0:17:45.119 --> 0:17:47.840 a credit card comparison site and literally googling the best 0:17:48.040 --> 0:17:50.520 business credit cards. There's a bunch of lists that you'll find. 0:17:51.520 --> 0:17:53.879 Just look for lists where it's there's like people have 0:17:53.920 --> 0:17:56.560 actually written reviews based on their experience and not just 0:17:56.560 --> 0:17:59.919 because they get the highest affiliate revenue from referring those cards. 0:18:00.600 --> 0:18:02.600 And for me, I was looking for a no annual 0:18:02.640 --> 0:18:05.520 fee card, which means I don't get the amazing lucrative 0:18:05.560 --> 0:18:07.320 benefits of an amex. It didn't make sense for me 0:18:07.359 --> 0:18:09.680 at the time because of my business revenue was non 0:18:09.720 --> 0:18:12.040 existent last June when I got the card, so I 0:18:12.160 --> 0:18:14.560 chose the Capital One Spark And what I like about 0:18:14.560 --> 0:18:17.400 it is that it is no fee and it's two 0:18:17.400 --> 0:18:20.119