How To Open Navy Federal Business Account To Get $25k Credit Card For Bad Credit No Income 2021?

hey what's up guys houston here and for those of you just finding my new blog welcome please remember to hit that subscribe button and that bell and for those of you that's been following me and supporting me salute i really appreciate the support now today we're out here in lake tahoe and so i thought i'd make a nice video for you guys out here on the lake and everything so we're going to be talking about navy federal business credit cards and how to get qualified for navy federal business credit card i showed you the strategy on how to get the navy federal personal credit card even if you have bad credit so if you want to see that video i'll put that video link uh somewhere on the page but at the same time i definitely i i think it's very important that you all understand in terms of if you're trying to build a relationship with navy federal and you're trying to get as much money as you can to re for your business and everything there's a few steps that you need to know about navy federal business credit cards okay and so here's the thing with navy federal business credit cards of course you know that you have to become a member all right but uh there's a second process other than that just becoming a member and everything with navy federal all right so in terms of with navy federal business side of things they do things a little different all right and so what i mean by that is like first if you're going to try to build a relationship with navy federal uh on the business side here's three things that you're gonna have to submit to them you're gonna have to submit their your articles articles of incorporation okay this is if your corporation okay llc or s corporation you'll receive submit your articles incorporation your ein okay or they call it your tax id so whichever one you have and then number three is your bylaws okay these are the things now here's something that you have to understand that's very important that navy federal stress is on when you're filling out that application for abyss for the open up a business account because you have to open up the business account before you can even apply for business credit cards and business loans so one of the things about is very important the n a i c s code okay now the reason this is important because again with navy federal they're very particular on the type of businesses they support okay and because they're very particular like high risk type of business like if you are a credit repair company or you're in the cannabis industry and stuff like that they will not open up a bank account for you or say that you do porn or something something that has high risk to it they won't touch it all right so that's the reality of that but if you have low uh risk uh sis naics codes and stuff like that you're more likely not only to get the account open but to be able to get qualified for funding besides i actually want to tell you all a funny situation about one of our clients and i keep telling y'all it's all about the relationship this client had a new business no income okay new business no income and she got qualified for i think it was a twenty five thousand dollar a business line of credit a fifteen thousand dollar uh business credit card okay now you're asking well how did she do that well there's a few things she did but definitely i want you all to understand the process so that way you will understand what you need to do now with navy federal here's something you have to understand that in order to open up a business account they want you to deposit a hundred dollars into your business account however you can call their customer service okay uh you can call their customer service and i'll get that number for you in a minute but you can call them and see if they would waive that hundred dollars but if i would you i probably wouldn't ask them to waive it i'll just leave it in the account again because it's really going to depend on the activity now in terms of talking about activity i always tell you all it's about the relationship this is the reason that i tell you guys to open up a personal account then if you can a business account and then a secured uh credit card okay now with navy federal they not only have the secure credit cards but they also have the pledge loans okay and this is exactly what one of my clients did like i said she a new business she had no revenue in the business but they still uh got her approved okay and you're like well why and remember she did not have perfect credit she did not have perfect credit so this is what i want you all to understand a lot of financial institutions you may not have perfect credit but you have a relationship with them this is what makes it so important okay now let's look at what a navy federal business credit division does all right so they're gonna pull your experience okay they'll put your experience now here's the thing about it you can because it's on the business side you can dispute this inquiry of your credit uh when you get it once you get your account open and everything however again i'm i'm not too comfortable with that because again i don't want to take any chances of any of my accounts being frozen all right so that's the reason i don't encourage people if you get approved for an account with navy federal then just immediately dispute the inquiry the reason that you want don't want to do that because again it can flag fraud and they can freeze their account and you can lose the account okay so that's the reason you don't like i said if it's over nine months and you want to dispute it then hey have at it but when it's brand new and you got approved for the account i will not uh dispute the account that's just me you know some people do it but hey it's in my opinion i would not do it okay now understanding that here's something else that a navy federal they may do okay you may have to have a done and bradstreet uh file not always okay but sometimes they will check your uh dmb file and stuff now i'm gonna tell you how how to actually get your uh a done and brass street number without actually paying for work and the way you do that you uh when you register with dmb when you register with them you have to let them know that you're planning on putting in a bid for a government contracts and i would definitely encourage any small business uh to register your business uh with sams.gov so you would go to sams.gov and so they're going to ask for your duns number and so because you're registered with sams.gov all right they're going to have you to get a duns number and by you registering with sams.gov again your duns number is free and you should be able to get it within 24 hours okay that's without you actually having to pay for any of don and brad street products and stuff now like i said they will check your gun and brass through file now does that mean you need to have net 30s on your file absolutely not and the reason that i'm telling you that is this here all right so here here's the situation many of us we've have started businesses all right and there's uh financial institutions that report to dun and bradstreet and i'm going to show you the three easiest uh credit cards that may that you may be able to qualify with a business business credit cards you may be able to qualify for that reports are done in bradstreet okay so i'm sharing some some back door strategies to help you be able to not only build up you're done in brass street file if that's what you're worried about but to be able to have cert to be able to satisfy your requirements with navy federal business division right okay so here's the thing about it like i said if you won their 30s to report then hey there's a quite a few of those out there but again i'm a firm believer and i would take the money and i would deposit it into a business bank account and build a relationship with the banks because that's where you want to end up anyway most of the time now here's the thing about it like capital one capital one all right they're spark business okay i think it's their spark uh classic business i think that's the one where you can be in the six i think it's like a 660 or something like that you don't have to have a strong credit score to get the capital one spark business card okay yes it is going to be a low limit card but here's something i i keep stressing to people about uh capital one where yes they're gonna pull all three credit bureaus okay however they stop reporting your uh business credit card activity to your personal credit so they're only reported to your business credit so it's going to maybe show up on your uh ex experian and then you're done in bradstreet okay but uh it won't report to your personal credit if so say that you max out your capital one business credit card and stuff like that it won't bring your credit score down it won't increase your debt to income ratio and that brings me to another point talking about debt-to-income ratio because there's still four factors when trying to get approved for the american express uh business credit cards and the reason is is because they're going to look at your personal credit so here's the factors that they're going to look at they're going to look at the number of inquiries right that's number one they're gonna look at the number inquiry and always tell you it's between six and eight is your danger zone all right so that's number one your credit history that's also going to play a factor okay so you have to understand so if you have a um a new personal credit report and you have a thin file and stuff then you gonna need some aging and the best way to do that is with a use authorized users that's going to help you get the aging okay and again like i said in another videos people are saying that aus don't work and that's not true that's not true at all the reason that's not true just think of it logically there's a lot of financial institutions credit cards out there that's always encouraging you to add family members or friends on stuff to your credit cards and stuff to help boost up their credit so if au's don't work why would financial institutions tell you hey add your family members on to help their credit build a relationship the reason they want more people using their credit cards especially with au's and stuff so that's more marketing they can do to those people that may not have credit or may not have strong credit and stuff so au's do work okay so you have to keep that in mind so when you hear people say au's don't work that's not true all right just look at what the banks are actually saying and doing and just follow their lead all right now it's the inquiries uh the credit history the income this is another big factor so again that means not just your income your household income so if you're receiving a child support spousal support if your wife is working you may have a child that's depending on you that's receiving disability that's household income so when they're on the application when they state how much is your household income they mean all the income and the household that's the income you want to put down okay so that's the reason like a lot of people they get low limit credit cards they are only put their income instead of the household income now i'm not telling you to commit fraud you may have a cousin riri staying with you for a few months and she's getting welfare or food stamps or something or just temporarily giving you rent or whatever i'm not telling you commit fraud but that's another point i wanted to make like you may be renting out a room you may be renting out a room for maybe about 450 500. a month all right that's considered income so that's the thing about it you have to consider all the income when you're putting it on the application this is very important and then the last thing again is the dti the debt to income ratio the debt to income ratio is very very important okay the reason that the debt to income ratio is very important because if you have more money going out then coming in then it looks like you're not you don't have the capability or the ability to actually pay your bills so that's the reason that that's important so i know that some of you all are trying to see what's going on so let's take a swing around and let me show you where we were shooting at like yesterday like we were shooting back over there now uh for some of you all you may know about lake tahoe this is where a lot of the billionaires they're building homes and stuff like mark zuckerberg uh so there's some houses like further up in the mountains and stuff that are right well it looks like it's up in the mountains but it's actually right on the lake and stuff there's some huge uh mansions and stuff all right and this is where again mark zuckerberg he's building a home uh they probably didn't finish it by now but there's other people that are building nice homes and stuff that are millionaires and billionaires and stuff like that and so like we're on the uh we're on the nevada side and this is funny with lake tahoe they have two sides they have the california side and they have the nevada side so with both sides um you can say that you want to go fishing you may have to have two different fishing licenses and stuff like that uh some some lakes some lakes you you can use only one but it just depends on where you're fishing i think this like if you have a california license you can fish the whole lake or whatever so i think this is one of those or if you have a nevada you can fish the whole lake as a matter of fact you can't even just fish the lake you actually have to uh go out on the boat so like i said when i first seen this here lake itself man um you talking about you talking about how surprised i was because i didn't realize how huge this lake is this lake is big you would think that it was part of part of the ocean uh if a person that was naive enough uh but it's not it it's an actual lake so you're just seeing a little segment of it but this lake is huge you know and later on we're gonna uh be driving around it so you can see another portion of the lake so i just want to show you a portion of that but also let's start to get back to what i was saying about um in terms of the strategy this lady used she didn't have perfect credit and they managed to give her a a business line of credit and a business credit card so what what happened she was following the steps in my bid video right so they had a uh they set up their company so they set up their company and then they open up their personal account with navy federal then they open up the business account all right then also what end up happening is once they open up those accounts remember i told you guys when you open up your business account just make the weekly deposits so that's what she was doing she was just making weekly deposits she hadn't um she hadn't uh started making any revenue in the business so she just took her own personal money and she was making weekly deposits so that's the reason i tell you weekly deposits even if it's your own money make a difference because that can help you now understand navy federal uh business credit cards don't report on the business side or the personal side okay so um in terms of like actually helping you build either one of those with the navy federal business credit card it won't the only time of the report is if you actually don't pay the account now in order to open up the account you do have to have a uh active account you have to have an active account and so you can't be like uh insufficient on like your checking account and stuff like that all right so you have to keep that in mind but like i said what she did she did the uh navy federal trick with the personal credit card and they got uh her her and her uh husband they got a personal credit card with navy federal higher limit credit cards with navy federal and then again she was doing the uh regular excuse me she was doing the regular uh weekly deposits now she did tell me that she had did uh purchase a few uh a few uh ned 30 accounts or whatever but she was telling me she said i didn't even once i found she said once she found our youtube channel she realized that she didn't have to do that all right now let's talk about uh some more banks okay so you got capital one all right another bank is a chase chase business inc card now with the chase business ink card it reports to dunn and brad street as well and all you have to have uh for most people they've been getting approved with the chase inc business card with a 660 credit score but again i tell you all open up the personal account open up the business account if you have challenging credit they don't have the secured cards i don't think chase does but again making those deposits from the personal account with your personal money transfer that money over to your business account because you actually can loan your money to your business at startup capital and you can make it a tax write-off this is some of the things a lot of these people that are talking about business credit building business credit they're not sharing with you so yes you can use your own money and to uh fund your business can be a tax writer as a matter of fact i'll take it a step further now when you set up say that you set up your corporation of course i would hope you use a three-way funding if you want consultation click the link below but say that you uh set up your corporation okay and you apply for a business loan and business line of credit under the corporation here's something that most people don't know you can actually charge your corporation a fee for being a personal guarantor on the card you can charge your corporation a fee to pay you your corporation can pay you an extra fee and i don't i'm not talking about salary or bonus i'm talking about an extra fee you can charge it to the corporation for you being a personal guarantee on the credit card or business line of credit okay so those are some things that i would definitely and uh try to encourage you guys to really think about in terms of you trying to build a relationship with navy federal again let's go over it you're going to file your articles of incorporation you're going to submit your uh your ein number your tax id number now there's uh something that i told you i'll give you all and so here's the thing you want the phone number to the customer service all right so if you want the phone number to the customer service here's the phone number the phone number to the customer service give me one moment also when you're submitting your application uh to navy federal to open up your business account uh submit it through your personal account so log into your personal account and upload the documents and stuff and then call the customer service number okay so the call the number for the customer service is eight seven seven four one eight one four six two that's eight seven seven four one eight one four six two so you would call that number so if you have any questions about your application if there's something on the application you don't understand and you're a member of navy federal they'll help walk you through the application process themselves all right now again making make sure that when you open up your business bank account make sure you do those regular uh deposits make sure you do those regular deposits okay and again like i said if you don't want to uh buy invest in a few net 30s uh to report to dunn and brad street to help uh get you qualified for that uh get you quali qualified with navy federal business credit card if you have a credit a business credit card through a capital one uh chase u.s bank u.s bank is another one that reports to dun and brass street now i'm not saying that if you don't have a done breastfeed file they won't qualify you because if you have strong credit and you're making weekly deposits they're still looking at your personal credit and they will take that into consideration so don't uh just dismiss what i'm saying that oh i have to have a duns file no i'm not saying that but in terms of helping increase your opportunity to uh get more business lines of credit and larger limits of credit cards that's another thing i wanted to tell you that once you get your business credit cards through navy federal all right and say that you want a credit line increase again you want to call customer service you don't want to do it online because you don't want the hard pull you want them to do a soft pull okay so in order for them to do a soft pull to give you a credit line increase so you don't have to also you don't have to wait a long time like uh with like their credit cards and stuff they want you to wait at least 91 days to actual credit line increase right but on the business side you don't have to wait that long but um i i would definitely tell you if you want a credit line increase you want to call customer service and ask them to do a credit line increase over the phone that way is not a hard inquiry on your credit file okay so um i hope that this video helps you understand in terms of how to build up uh build a relationship with navy federal so that you can get qualified for business credit cards if you have questions about building your cred business credit uh you can reach out to three-way funding by clicking the link below or in the description and reach out to me and uh see we'll see how we can help you continue building up your business credit