WEBVTT - How To Establish Business Credit (How To Mondays) 0:00:06.440 --> 0:00:09.200 Hey, hey, ba fan, it's me Tipiate a bunch of 0:00:09.200 --> 0:00:13.600 anista here with Mandy and another episode it's a how 0:00:13.680 --> 0:00:17.280 to throwback. In this episode, we discussed how to established 0:00:17.280 --> 0:00:19.760 business credit. Here's the thing about credit. Credit will tell 0:00:19.760 --> 0:00:22.319 you this. I need you to know me before you 0:00:22.360 --> 0:00:25.159 need me. Oh you need me now. It's late. So 0:00:25.200 --> 0:00:27.000 if you want to get on top of your business 0:00:27.080 --> 0:00:29.920 credit now, go ahead on and slide into this episode 0:00:29.920 --> 0:00:34.479 and get yourself together. It's time for the b a 0:00:34.840 --> 0:00:37.879 q a A. The b a q A. Okay, the 0:00:37.920 --> 0:00:40.040 b a q A what you say the b a 0:00:40.440 --> 0:00:46.519 q A. Welcome Black Family, Brandavision family. We are here 0:00:46.520 --> 0:00:50.080 for a Brandnavision question and answers. You have questions. We 0:00:50.200 --> 0:00:55.200 have kind of answers. But we're not your mama, your therapist, here, doctor, 0:00:56.080 --> 0:00:58.360 not even what we're your own like cousins. You know, 0:00:58.800 --> 0:01:01.120 we're not your financial advisor. So certainly we want you 0:01:01.160 --> 0:01:04.200 to take what we say with the tiny grain of 0:01:04.240 --> 0:01:05.640 salt because we don't want you to get you know, 0:01:05.840 --> 0:01:08.360 have blood pressure. You know how our community do so. 0:01:09.160 --> 0:01:11.160 But we're here to just you know, your financial besties, 0:01:12.319 --> 0:01:12.920 just leaning in. 0:01:12.959 --> 0:01:14.920 We don't even know y'all name sometimes, so how are 0:01:14.920 --> 0:01:17.480 we supposed to give you super specific advice? Y'all want 0:01:17.480 --> 0:01:18.920 to be anonymous. 0:01:20.080 --> 0:01:26.040 Aka se your grandma not us? So yes, man's brow. 0:01:26.080 --> 0:01:28.600 We have some co questions for today. 0:01:28.959 --> 0:01:31.040 Got some juicy, juicy questions. If y'all want to submit 0:01:31.120 --> 0:01:33.520 questions and have them read on our special BAQ and 0:01:33.600 --> 0:01:36.320 A episodes, go to Brandnambisson podcast dot com and click 0:01:36.400 --> 0:01:40.200 ask us anything. You can also email us at brandambispodcast 0:01:40.240 --> 0:01:43.679 dot com or slide into the DMS on ig. We 0:01:43.760 --> 0:01:46.920 are at Brand Ambition Podcast and you could be answered 0:01:46.959 --> 0:01:49.600 on the show. If you want to be anonymous, fine, 0:01:49.640 --> 0:01:50.960 I don't know how many of y'all are on these 0:01:50.960 --> 0:01:52.320 witness protection programs. 0:01:52.480 --> 0:01:55.960 I know. Just pick a perfect name. Honestly, here's my request, 0:01:56.000 --> 0:01:58.960 because it's fun for us. Come up with some outlandish name. 0:01:59.160 --> 0:02:01.160 You know, I don't care. You could say my name 0:02:01.200 --> 0:02:06.280 is Potato, just something fun like we're like, yeah, exactly, 0:02:07.360 --> 0:02:09.720 silly and Cincinnati something, you know. 0:02:11.200 --> 0:02:13.320 I do like the last show when you switched it 0:02:13.360 --> 0:02:15.040 to Annie. So if you're a nonymous, she going to 0:02:15.080 --> 0:02:19.040 be Annie. Okay, yes, all right, Annie says in all caps, 0:02:19.040 --> 0:02:22.320 please withhold my name? Fine? I do I think this 0:02:22.400 --> 0:02:23.880 is a great question, though, Ooh, I can't wait to 0:02:23.880 --> 0:02:26.880 get into this. Hey Mandy, she says, I'm the communications 0:02:26.960 --> 0:02:30.040 manager at a small nonprofit with about four hundred and 0:02:30.040 --> 0:02:33.240 fifty ish employees. We had a team meeting with my 0:02:33.320 --> 0:02:36.919 director and the media producer regarding commercials. We all disliked 0:02:36.919 --> 0:02:38.800 the ads that we paid for and were created by 0:02:38.800 --> 0:02:43.040 a local TV station. Impulsively, I suggested that we write 0:02:43.040 --> 0:02:46.679 and produce our own commercial. Well, sis, ad copy ain't 0:02:46.720 --> 0:02:48.959 in my job description. In at fifty eight K, I'm 0:02:48.960 --> 0:02:53.840 already a bargain. What was I thinking? Question? I have 0:02:53.919 --> 0:02:56.359 written one commercial and now I'm being asked to write 0:02:56.400 --> 0:02:59.000 another one. How can I gracefully back out of this 0:02:59.120 --> 0:03:01.680 and explain that they need to hire an ad agency? 0:03:02.240 --> 0:03:04.920 Side note, I'm a new hire. In just ninety days 0:03:04.960 --> 0:03:11.000 into a six month probationary period, she. 0:03:11.000 --> 0:03:16.760 Fell into a trap the helpful Yeah please trap, Andy, 0:03:16.760 --> 0:03:19.239 I'm not gonna lie, child, that's the trap. I'll be limited, child, 0:03:19.240 --> 0:03:21.840 I'll be I have super each delivered to my trap. 0:03:22.080 --> 0:03:23.120 I'm not gonna be here for a. 0:03:23.200 --> 0:03:28.440 While, permanent address at the trap. That's the real, real 0:03:28.480 --> 0:03:30.600 trap house for Brad. 0:03:30.720 --> 0:03:32.720 So I'm gonna like it. I'm gonna honestly let maybe 0:03:32.760 --> 0:03:34.640 take the lead, because that is this is not I'm like, 0:03:34.680 --> 0:03:37.080 I'm listening, like, wait, so what will we do? Mandy? 0:03:37.160 --> 0:03:39.120 But I will say this is something. This is what 0:03:39.160 --> 0:03:42.320 I learned from doctor Green, because she like, this is 0:03:42.360 --> 0:03:44.960 something I did something similar and she said, just because 0:03:45.720 --> 0:03:47.920 you agree to something once does not mean you agree 0:03:47.920 --> 0:03:49.880 to it for a lifetime. So she like, so that's 0:03:49.920 --> 0:03:52.160 something like, I'm still honestly working on it because it's hard. 0:03:52.360 --> 0:03:54.480 And she said, so if you say I don't like 0:03:54.560 --> 0:03:56.400 onions when you're four, so Tiffany, you were a band 0:03:56.440 --> 0:04:00.000 from eating onions now that you're forty two, And I'm like, no, Well, 0:04:00.080 --> 0:04:02.200 she's like, well that's how you're navigating. So I'm saying 0:04:02.200 --> 0:04:04.040 all that to say, that's all I know because I'm 0:04:04.080 --> 0:04:05.760 in there with you, girl, tell me what you want 0:04:05.760 --> 0:04:07.760 from uber eats because you and I in there together. 0:04:07.760 --> 0:04:09.040 That's so, Mandy, what should we do? 0:04:09.600 --> 0:04:12.800 Yeah, so this is an opportunity for a boundary. I 0:04:12.800 --> 0:04:15.280 wouldn't beat yourself up too much because in a way, 0:04:15.480 --> 0:04:18.479 you needed to test out, you know, this new idea 0:04:18.520 --> 0:04:20.520 of creating an ad and doing it yourself, test it 0:04:20.520 --> 0:04:22.520 out to see if you guys liked it. Okay, they 0:04:22.640 --> 0:04:24.960 liked it, and you're the I get it. You're ninety 0:04:25.040 --> 0:04:27.040 days into a new opportunity and you want to make 0:04:27.040 --> 0:04:30.320 a good impression. You want to be energetic and enthusiastic 0:04:30.360 --> 0:04:33.440 and have great ideas, but you also want to show 0:04:33.480 --> 0:04:35.800 people how to work with you from an early stage 0:04:35.839 --> 0:04:37.640 when you're new. And I think in the first undy 0:04:37.720 --> 0:04:40.280 days it's an excellent opportunity for this to be your 0:04:40.279 --> 0:04:44.520 first capital B boundary. So I think this is also important. 0:04:44.520 --> 0:04:47.520 Why when you are overseeing any project or any new 0:04:47.560 --> 0:04:51.320 initiative that you set in, you schedule time to debrief, 0:04:51.480 --> 0:04:53.560 and you schedule time to have sort of like a 0:04:53.600 --> 0:04:55.960 look back at how the project went and then what 0:04:56.000 --> 0:04:57.719 are next steps and how are we going to spin 0:04:57.800 --> 0:04:59.799 this forward and what are we going to do? Because 0:04:59.839 --> 0:05:02.120 that that gives you an opportunity to say, so, I 0:05:02.160 --> 0:05:05.000 did it this time long, long term, we need to 0:05:05.080 --> 0:05:07.920 hire this agency in order to really you know, make 0:05:07.960 --> 0:05:11.279 this make this new commitment, or get the budget that 0:05:11.279 --> 0:05:14.440 we need for it. So I think you approaching it 0:05:14.480 --> 0:05:16.279 by going to your manager and saying, you know, actually, 0:05:16.400 --> 0:05:19.680 let's have a conversation about this initiative and I'll give 0:05:19.720 --> 0:05:22.760 you a projection on what I think we need for 0:05:22.800 --> 0:05:25.320 this to be like a long term initiative for us, 0:05:25.400 --> 0:05:28.120 and here's how much it could cost. You could even 0:05:28.400 --> 0:05:31.680 help them out by I don't know, suggesting two to 0:05:31.760 --> 0:05:36.080 three agencies that you've worked on vetting or even backing 0:05:36.080 --> 0:05:38.559 that up and saying as a next step, I will 0:05:38.920 --> 0:05:40.599 you know if this is part of your job description, 0:05:40.680 --> 0:05:43.280 I don't know, look into some ad agencies and come 0:05:43.320 --> 0:05:45.560 to you guys and ask for them to give proposals 0:05:45.560 --> 0:05:48.360 and come to you guys with options so that you're 0:05:48.800 --> 0:05:52.120 not you're not taking away the new initiative. Everyone's excited about. 0:05:52.160 --> 0:05:55.360 You all recognize you need it, but you are getting clear. 0:05:55.560 --> 0:05:57.560 You're getting clear with them that it can't just fall, 0:05:57.960 --> 0:06:01.440 you know, on your shoulders. And depending on how they 0:06:01.480 --> 0:06:04.120 respond to that, then you can decide, is there another 0:06:04.160 --> 0:06:06.880 conversation that needs to be had about what my duties 0:06:06.880 --> 0:06:09.960 and job responsibilities here so I can get clarity. But 0:06:10.120 --> 0:06:12.039 you don't want to let this go, because if you 0:06:12.080 --> 0:06:14.400 let this go, you're sending a message the same way 0:06:14.400 --> 0:06:16.320 my mom told me. Make sure that you don't tell 0:06:16.480 --> 0:06:19.440 your boyfriend Enrique that you don't care about Valentine's Day 0:06:19.440 --> 0:06:21.039 when you're first dating, she's like, no, no, no, no, 0:06:21.080 --> 0:06:23.640 you don't want to set a president. You want him, 0:06:23.720 --> 0:06:25.720 you know what I mean. So those messages early on 0:06:25.920 --> 0:06:28.080 can really set a president for the rest of your 0:06:28.240 --> 0:06:31.600 relationship and the rest of your you know, your job here. 0:06:32.080 --> 0:06:34.080 Yeah, no, that's good. I'm like, okay, does. 0:06:33.960 --> 0:06:35.960 That make you? Does it stress you out? 0:06:36.000 --> 0:06:42.359 Said no, I'm like sap for boundary. Uh no, honestly no. 0:06:42.440 --> 0:06:45.360 All that you said, you know, it's true and it's 0:06:45.400 --> 0:06:48.120 sometimes hard. And so if you're somebody like me who 0:06:49.080 --> 0:06:51.520 has a hard time with the hard conversations, one of 0:06:51.520 --> 0:06:54.039 the things I do practice and that doctor Green taught me, 0:06:54.200 --> 0:06:58.640 is to practice saying the hard things to in easy times, 0:06:59.080 --> 0:07:02.960 meaning like, uh, is there someone at your job that 0:07:03.040 --> 0:07:04.960 you know, like this is actually the nicest person to 0:07:05.000 --> 0:07:07.880 kind of approach with this, to start planning that seed, 0:07:08.440 --> 0:07:12.000 or just even outside of this, like you know, when 0:07:12.000 --> 0:07:14.200 the waiter brings you the wrong thing, practice saying, hey, 0:07:14.200 --> 0:07:15.880 this is not what I order. So like literally I 0:07:15.880 --> 0:07:18.680 had to build up the muscle because wherever you are, 0:07:18.720 --> 0:07:21.480 there you go. And so I'm learning to practice the 0:07:21.680 --> 0:07:25.160 hard conversations with easy people so that way, I have 0:07:25.320 --> 0:07:27.920 enough muscle built that when these hard conversations come up 0:07:27.960 --> 0:07:31.120 to create a boundary. You know, it's it's not that 0:07:31.160 --> 0:07:33.679 it's easy, but I at least had a lot more practice. 0:07:33.680 --> 0:07:35.880 So that's what I honestly been doing. You'll see me 0:07:35.880 --> 0:07:38.600 say that, like even during our last you know, when 0:07:38.640 --> 0:07:42.160 our first kind of like welcome back to like Tiffany 0:07:42.640 --> 0:07:46.480 podcast episode, right that, like I had to reassert the 0:07:46.520 --> 0:07:49.200 boundary because I knew if I did it, you know 0:07:49.360 --> 0:07:51.880 that you know I would, I would. I wouldn't want 0:07:51.880 --> 0:07:53.240 to say I'm like, oh, don't want to disappoint Mandy 0:07:53.240 --> 0:07:55.520 and everybody else, and listening, I'm like, no, no, no, no, Tiffany, 0:07:55.840 --> 0:07:59.360 you have to say the thing now. Because Mandy is nice. 0:07:59.800 --> 0:08:02.200 This this is an easy person to practice the hard 0:08:02.200 --> 0:08:05.080 conversation with, you know, and so like, because there'll be 0:08:05.120 --> 0:08:06.800 other places that don't give a what and I'm going 0:08:06.880 --> 0:08:09.320 to be like, okay, but I've already gotten my practice 0:08:09.360 --> 0:08:11.360 in and so like, it's just that's what I could 0:08:11.360 --> 0:08:13.560 suggest if you're someone like me who really gets anxious 0:08:13.560 --> 0:08:17.160 about having the hard conversations to really practice them with nice, 0:08:17.200 --> 0:08:19.440 easy people. So when it comes down to it, you know, 0:08:19.480 --> 0:08:22.800 you got some he got some practice under your belt. 0:08:23.000 --> 0:08:25.200 Yeah, and I will. I'm going back to your question. 0:08:25.480 --> 0:08:29.640 Remind you that the manager is in your title communications manager, 0:08:30.160 --> 0:08:32.280 and as a leader and someone who's going to be 0:08:32.320 --> 0:08:35.960 overseeing strategy for that particular department, it's on you to 0:08:36.240 --> 0:08:39.040 tell them the solution for the problem. So you've told 0:08:39.040 --> 0:08:41.600 them the solution we should do our own commercials. But 0:08:41.960 --> 0:08:44.480 they and you both took that to mean we meaning me. 0:08:45.000 --> 0:08:47.320 But how easily could you have gone out and found 0:08:47.320 --> 0:08:50.200 your own ad writer copywriter to write that commercial? And 0:08:50.200 --> 0:08:52.800 maybe you're overseeing it. But I think that was one 0:08:52.840 --> 0:08:55.319 of the really challenging lessons for me as a leader. 0:08:55.360 --> 0:08:57.200 And I actually just did a whole session on this 0:08:57.240 --> 0:08:59.800 with my Bandy money Makers last week and really just 0:08:59.880 --> 0:09:02.560 like cathartic for me because in those early days as 0:09:02.600 --> 0:09:06.240 a leader, I thought me doing everything was how I 0:09:06.280 --> 0:09:08.760 should lead, and it's how I sent the message that 0:09:08.840 --> 0:09:11.400 I'm a good leader because I can handle everything. But 0:09:11.480 --> 0:09:14.680 that's just a fast track to burnout, burnout and resentment 0:09:15.200 --> 0:09:18.880 and toxic work environment that you really create yourself. Because 0:09:19.000 --> 0:09:22.280 for me, the epiphany was being a good leader is 0:09:22.400 --> 0:09:24.640 necessarily doing it yourself. It's knowing what you need to 0:09:24.679 --> 0:09:26.920 do and then finding solutions for it and bringing other 0:09:26.960 --> 0:09:29.960 people in and letting them help you, you know, achieve that. 0:09:30.559 --> 0:09:32.719 And it's also really important in your first ninety days 0:09:32.720 --> 0:09:37.720 at this job to set expectations that your managers will 0:09:37.720 --> 0:09:39.320 give you the resources you need to be able to 0:09:39.320 --> 0:09:41.240 do that job. So if it's a you coming to 0:09:41.280 --> 0:09:43.600 them with this proposal for Okay, we want to continue 0:09:43.640 --> 0:09:46.360 doing this. Here's the budget I need to hire a 0:09:46.440 --> 0:09:49.280 freelance ad writer, you know, here's the budget that I 0:09:49.320 --> 0:09:52.760 need to get the recording equipment, whatever, and give them 0:09:52.920 --> 0:09:55.280 sort of a long term budget plan and then if 0:09:55.280 --> 0:09:57.439 they decide they want to put the resources in, then cool. 0:09:57.760 --> 0:09:59.680 But if they decide that they won't, then it's time 0:09:59.720 --> 0:10:02.640 to put that boundary down again and say, well, it's 0:10:02.679 --> 0:10:05.640 not going to be realistic for me to take on 0:10:05.720 --> 0:10:09.679 this responsibility with the umpteen other responsibilities that I have. 0:10:09.760 --> 0:10:12.280 So what are we gonna do? Maybe there's no commercials 0:10:12.280 --> 0:10:16.800 for a while, and then be quiet and then be silent. 0:10:18.240 --> 0:10:20.600 I love what you said, because it's true good leaders 0:10:20.880 --> 0:10:22.920 let good people do good work. That is like a 0:10:23.000 --> 0:10:25.600 lesson that like really drove home. You know now that 0:10:25.640 --> 0:10:27.720 my team is much smaller, and I really look around 0:10:27.720 --> 0:10:29.559 and I'm like, when you have the right people in 0:10:29.600 --> 0:10:31.679 the right place, I don't have to sweat anybody like 0:10:31.720 --> 0:10:35.000 I'm like tifnany just take a step back. Logan got it, Rose, 0:10:35.040 --> 0:10:36.760 got it. You gotta be in that email. If there's 0:10:36.760 --> 0:10:38.600 something there she needs, she gonna let you know. Tam 0:10:38.640 --> 0:10:41.920 got it, you know. So yep, So we wish you 0:10:41.960 --> 0:10:46.600 loved Annie. Good luck. 0:10:47.120 --> 0:10:48.960 All right, let's take a quick break out and be 0:10:49.000 --> 0:10:51.480 back with another of your baq and a's. 0:10:53.480 --> 0:10:56.960 Hey, y'all, we are black and back. Our next question 0:10:57.120 --> 0:11:01.160 is from Amandad not to be confused with Mandy. Okay, 0:11:01.679 --> 0:11:06.000 So Amanda says, hey, y'all, hoping all is well, and 0:11:06.120 --> 0:11:09.160 tifty continues to heal. I am thank you, Mandy. I'm 0:11:09.200 --> 0:11:13.160 loving the solo content. Thank you for hashtag keeping all 0:11:13.200 --> 0:11:18.040 the things going true. Indeed, So here's my question. I've 0:11:18.120 --> 0:11:21.400 had a small consulting business for more than seven years 0:11:21.760 --> 0:11:25.319 and not ever had a business credit card. My partner 0:11:25.360 --> 0:11:28.520 and I have business debit cards for routine expenses and travel, 0:11:29.000 --> 0:11:31.839 and we've had to hit our line of credit several 0:11:31.840 --> 0:11:34.720 times when cash flow is messy. Child, do not know it. 0:11:35.440 --> 0:11:37.720 I'd like to consider a business credit card, but how 0:11:37.760 --> 0:11:40.560 does it work? Do I, as the owner secure it 0:11:40.559 --> 0:11:43.200 with my personal Social Security number? I have good credit? 0:11:43.320 --> 0:11:46.920 Good girl? Does the business need its own credit? We 0:11:47.000 --> 0:11:50.480 have a done in Bradstreet number and haven't really used it, 0:11:50.559 --> 0:11:53.640 nor do I really understand it. Goals are to pay 0:11:53.720 --> 0:11:57.080 less interest for larger charges, a lot of credit alternative, 0:11:57.320 --> 0:11:59.720 and build points by charging and paying off regular monthly 0:11:59.720 --> 0:12:02.880 expect Any extra info you could offer on the topic 0:12:03.000 --> 0:12:06.400 is so appreciated. Bonus if you have a recommendation for 0:12:06.480 --> 0:12:09.800 a great biz credit card, thanks so much. 0:12:11.000 --> 0:12:13.320 I got my business credit card when I started Mandy 0:12:13.360 --> 0:12:15.800 Money because I think there's just that common advice out there. 0:12:15.880 --> 0:12:19.679 You know, established your credit business credit early, and for me, 0:12:20.320 --> 0:12:22.520 I was the guaranteur, like me personally, because I didn't 0:12:22.559 --> 0:12:24.920 have a business for any long point of time at 0:12:24.920 --> 0:12:28.360 that point, so my personal credit was my collateral, you know. 0:12:28.920 --> 0:12:31.439 So yes, I use my social I don't even remember 0:12:31.480 --> 0:12:34.560 if they asked anything about my employment ID number or 0:12:34.559 --> 0:12:37.679 what's it called a t I N Tax employment number 0:12:37.800 --> 0:12:40.280 tax identification number. I'm like, that does not that's not 0:12:40.320 --> 0:12:44.080 the acronym anyway. And because of my and because I 0:12:44.080 --> 0:12:46.760 have strong credit too. I got approved, you know, pretty quickly. 0:12:46.920 --> 0:12:48.560 But I don't know tip does it matter now that 0:12:48.600 --> 0:12:50.440 she's seven years in and she has a Dan so 0:12:50.559 --> 0:12:53.000 Dan and Bradstreet or is it done in Bradstreet? I 0:12:53.000 --> 0:12:54.320 forget now, she said. 0:12:54.240 --> 0:12:59.400 Dan, Danny and them, Dandy and them. 0:12:59.440 --> 0:13:05.480 You know, this is the business version of like your 0:13:05.520 --> 0:13:09.600 experience and your ficodes right, they track your business credit. 0:13:09.640 --> 0:13:11.160 But you've had a business a lot longer. 0:13:11.280 --> 0:13:14.720 So well, I to your point, Like someone told me, 0:13:14.760 --> 0:13:17.120 by the way, hey Tiffany, you should go ahead and 0:13:17.160 --> 0:13:19.640 get your business credit set up before you need it, 0:13:19.640 --> 0:13:21.800 because credit is really like you need to know me 0:13:21.880 --> 0:13:24.439 before you need me. So anybody listening with a new business, 0:13:24.720 --> 0:13:27.720 go ahead and on ahead and do that. But Amanda's 0:13:28.920 --> 0:13:31.839 Mandy's point, because you've been in business seven years, you 0:13:31.920 --> 0:13:34.040 might be able to just get it based upon your 0:13:34.040 --> 0:13:36.320 business currently because you've already had a line credit, so 0:13:36.360 --> 0:13:39.240 you likely don't have to necessarily put your credit like 0:13:39.320 --> 0:13:42.920 on the line for those folks who are new oftentimes, 0:13:43.200 --> 0:13:45.120 not only can you not get a regular credit card 0:13:45.120 --> 0:13:48.000 like for me, I started, like you know, months two, 0:13:48.080 --> 0:13:49.720 I went to get a credit card, just to get 0:13:49.720 --> 0:13:53.000 one and I had to get a secured business credit card. 0:13:53.400 --> 0:13:56.000 That's not an actual thing like a secured regular credit card. 0:13:56.240 --> 0:13:58.760 You basically, it's like a credit card with training wheels. 0:13:58.840 --> 0:14:01.200 You put down a deposit, they put it into basically 0:14:01.280 --> 0:14:02.959 like a savings account for you, and then they give 0:14:03.000 --> 0:14:06.160 you a card that is the same limits as the 0:14:06.200 --> 0:14:09.440 posits that you put down. Typically for business credit cards, 0:14:09.840 --> 0:14:11.960 I think it's like usually the minimums around one thousand 0:14:11.960 --> 0:14:15.640 dollars personal, it's a minimum for secured cards usually like 0:14:15.679 --> 0:14:17.880 three hundreds to four or five hundred dollars. So that's 0:14:17.880 --> 0:14:19.800 what I did. I put down one thousand dollars, and 0:14:20.120 --> 0:14:22.440 I got a secured business credit card. You know. I 0:14:22.560 --> 0:14:25.160 used it like wisely for like a year, and then 0:14:25.200 --> 0:14:26.880 they took the secured part off and gave me a 0:14:26.880 --> 0:14:29.800 regular business credit card. So what I liked about that 0:14:29.920 --> 0:14:31.800 is I got to build my business credit up, you know, 0:14:32.120 --> 0:14:35.160 and now you know, I've got like an American Express card. 0:14:35.280 --> 0:14:37.840 So what's so great about a business credit card to 0:14:37.880 --> 0:14:40.800 your point, Amanda, is that we use our business credit 0:14:40.800 --> 0:14:42.960 card especially, and we've switched over to our American Express 0:14:43.000 --> 0:14:45.640 card because of the the what you can do with 0:14:45.680 --> 0:14:48.920 the points it's just like magical. So I use it 0:14:48.960 --> 0:14:51.920 for marketing. So if I'm running ads, which we do 0:14:51.960 --> 0:14:53.880 a lot, and sometimes we can spend seven figures in 0:14:53.920 --> 0:14:58.520 a year on ads, and so I have traveled extensively 0:14:58.600 --> 0:15:00.560 off the points that we get as a results of 0:15:00.600 --> 0:15:03.200 my business partner and I for the Literature Academy. We 0:15:03.240 --> 0:15:05.560 go back and forth with using the points from American Express. 0:15:05.560 --> 0:15:09.200 I mean I flew the ballot Bari round trip first 0:15:09.240 --> 0:15:12.000 class off the points. You know, I've gone. 0:15:12.040 --> 0:15:14.040 You and your business partner like split them. 0:15:14.040 --> 0:15:15.520 Yes, we split the points and we use them. 0:15:15.520 --> 0:15:18.280 However, Yeah, it's like a trust thing or what do 0:15:18.320 --> 0:15:20.760 you call it. I don't know. Yeah, you have to 0:15:20.840 --> 0:15:22.800 just like kind of say, okay, we share a joint 0:15:22.840 --> 0:15:24.960 custody of these points. Don't different to. 0:15:25.880 --> 0:15:30.240 Share our points, baby, You're like, it's your weekend, you know. 0:15:30.480 --> 0:15:33.280 And so so that that is the benefit of like 0:15:33.520 --> 0:15:36.080 having a business credit card. Yes, obviously you have access 0:15:36.120 --> 0:15:39.960 to more capital, you know, like that. I don't worry 0:15:40.000 --> 0:15:41.880 as much about the interest rates quite honestly, because we 0:15:42.120 --> 0:15:44.280 pay ours off every month in full. But I also 0:15:44.320 --> 0:15:47.560 don't have a physical based business, so that's not possible 0:15:47.560 --> 0:15:50.280 for all people. Me and Mandy have a service based businesses, 0:15:50.280 --> 0:15:54.960 so that's usually more feasible. But yeah, establishing your credit, 0:15:55.040 --> 0:15:57.120 getting a business credit card, it sounds like you're already 0:15:57.200 --> 0:16:01.000 doing you know wisely and using your your business line 0:16:01.040 --> 0:16:03.360 of credit. Go ahead and do that. I wouldn't say 0:16:03.360 --> 0:16:04.960 that I have. I mean, I will say that I 0:16:04.960 --> 0:16:08.040 do like American Express because the points that you're able 0:16:08.080 --> 0:16:10.000 to accumulate, you could use it for so many things. 0:16:10.120 --> 0:16:12.400 But with American Express, be mindful that it's really like 0:16:12.440 --> 0:16:13.720 a charge card, so you have to pay it off 0:16:13.720 --> 0:16:16.400 every month in full. Let me see what other. 0:16:16.640 --> 0:16:18.840 Do you have a high like annual fee? 0:16:18.960 --> 0:16:21.400 Oh yeah, that's the thing. It is a high annual fee. 0:16:21.880 --> 0:16:24.440 But I will say that, from what I remember, with 0:16:24.440 --> 0:16:26.720 American Express, you could put it toward things like like 0:16:26.760 --> 0:16:29.200 I was able to get Global entry, which is like 0:16:29.200 --> 0:16:32.440 four hundred bucks and so, but with American Express it 0:16:32.480 --> 0:16:34.920 was weighed. So global entry means whenever I come back 0:16:34.920 --> 0:16:37.080 to the US, which you know I'm leaving, I'm going 0:16:37.120 --> 0:16:39.920 to Jordan, I'm super excited when I come back in 0:16:39.960 --> 0:16:41.480 to the US, I don't have to like wait in 0:16:41.480 --> 0:16:43.760 a super long line because they basically preach out. 0:16:44.720 --> 0:16:48.040 That makes me feel richer and more like lucks when 0:16:48.080 --> 0:16:51.680 I skip the long line of customs. Yes, take my money, 0:16:51.800 --> 0:16:55.239 I don't care. I'm sorry. 0:16:55.320 --> 0:16:57.640 So you want to ask that like four hundred dollars, 0:16:57.680 --> 0:16:59.520 sometimes you can put it toward things, you know, like 0:16:59.520 --> 0:17:01.880 and that's one of them. I'm also too. I mean, well, 0:17:01.880 --> 0:17:03.640 this is not they don't it's not a business card, 0:17:03.840 --> 0:17:07.439 but Chase, I would probably ask, but for what I know, 0:17:09.080 --> 0:17:11.119 I don't think. I don't know if Chase has a 0:17:11.160 --> 0:17:14.120 business card that you know that gives like incredible points. 0:17:14.119 --> 0:17:16.520 But you can ask because my personal Chase, like you know, car, 0:17:16.600 --> 0:17:18.280 what's that card that I always get the name wrong on. 0:17:19.080 --> 0:17:25.879 The Chase good Time cards, we get the name up. Yes, yes, 0:17:26.440 --> 0:17:27.040 so Chase. 0:17:27.119 --> 0:17:29.600 I use my Chase a lot as well. But yeah, 0:17:29.600 --> 0:17:31.480 so I would just say start now, you know, start 0:17:31.480 --> 0:17:33.159 building your business credit. I me, you've already built you 0:17:33.160 --> 0:17:34.760 business credit because you've had a lot of credit. But 0:17:35.040 --> 0:17:36.919 a credit card to use wisely can certainly be a 0:17:36.920 --> 0:17:37.400 great tool. 0:17:37.880 --> 0:17:40.440 Yeah, And I mean for me, credit card offers changed 0:17:40.440 --> 0:17:43.480 so frequently, and especially now that the economy is coming back, well, 0:17:43.520 --> 0:17:46.080 I know it's well coming back ish, like there's so 0:17:46.119 --> 0:17:49.119 many issues and inflation and sock market crashing, all the 0:17:49.160 --> 0:17:52.040 kind of stuff. But credit cards rewards are coming back, 0:17:52.080 --> 0:17:53.800 so they you know, you saw a lot of cards 0:17:53.800 --> 0:17:56.240 pull back on the rewards programs during the pandemic when 0:17:56.280 --> 0:17:58.760 people weren't actually doing the things that we used to do, 0:17:58.840 --> 0:18:01.360 like eat out and like the reasons you would justify 0:18:01.440 --> 0:18:04.479 getting a rewards card before kind of went away. So 0:18:04.520 --> 0:18:06.720 there may be new offers today that weren't even around 0:18:06.760 --> 0:18:09.080 last summer. So when I got my business card last summer, 0:18:09.119 --> 0:18:11.800 I went I started off going to you know, a 0:18:11.800 --> 0:18:15.000 credit card comparison site and literally googling the best business 0:18:15.000 --> 0:18:17.119 credit cards. There's a bunch of lists that you'll find. 0:18:18.080 --> 0:18:20.440 Just look for lists where it's there's like people have 0:18:20.520 --> 0:18:23.119 actually written reviews based on their experience and not just 0:18:23.160 --> 0:18:26.560 because they get the highest affiliate revenue from referring those cards. 0:18:27.160 --> 0:18:29.160 And for me, I was looking for a no annual 0:18:29.200 --> 0:18:32.120 fee card, which means I don't get the amazing lucrative 0:18:32.119 --> 0:18:33.800 benefits of an AMX. It didn't it make sense for 0:18:33.840 --> 0:18:35.960 me at the time because of my business revenue was 0:18:36.080 --> 0:18:38.520 non existent last June when I got the card, So 0:18:38.560 --> 0:18:40.840 I chose the Capital One Spark and what I like 0:18:40.880 --> 0:18:43.760 about it is that it is no fee and it's 0:18:43.800 --> 0:18:46.640 two percent cash back on everything, so it's pretty as 0:18:46.640 --> 0:18:48.600 a standard business card. It works for me, and I 0:18:48.640 --> 0:18:51.200 do get I do get cash back which I can 0:18:51.240 --> 0:18:54.280 then use against my balance or for whatever. So that's 0:18:54.280 --> 0:18:56.640 what I use personally. But like I said, I would 0:18:56.680 --> 0:19:00.159 start with like a nerd wallet, a Magnify money to 0:19:00.240 --> 0:19:03.640 Karma again, just like compare and see which one fits, 0:19:03.920 --> 0:19:06.840 which one fits your business, Yeah, and how you were 0:19:06.880 --> 0:19:09.359 going to use it. Maybe you're buying a lot of 0:19:09.359 --> 0:19:12.080 supplies at Staples, so maybe you know a card that 0:19:12.119 --> 0:19:14.760