All Forum Posts by: Account Closed

keep in mind you max out all those credit cards your FICO is going to tank..  just do this very cautiously. and you can get these on your own no need to pay 20 points for a 50k of credit.. that's pretty high.

Not sure I’m getting this correct.  They are saying they would apply for lines of credit for your business using your personnel credit history/profile/score to get them? That sounds like the same thing you would do on your own if you apply for a business credit card?  You don’t necessarily need to have a “real business” to get a business card?  

What’s wrong with you applying for credit cards on your own to do this?  That’s kinda what I have done to help me fund the carrying costs of a rehab (not saying this is something we should strive to do, but it is a method) note: I have not done a rehab yet, but this is my current plan and I have approximately 45k at 0%, 4%, 7%, and 9% in credit line available.  Will likely be applying for another card in a week or so.   

Most of these “programs” are Not for cash advance credit cards.....they are for “trade line accounts” for businesses such as Office Depot, office max, Home Depot, etc. Not what you’re looking for.

No way would I stand behind that method, not without any experience. Take it slow, save up and like @Steve Vaughan said put some hard work into building your business. You will appreciate you empire much more when you realize all the small sacrifices you had to make made big impacts, trust me. Then again I'm not your typical investor who loves to use credit for everything. I like to stay more conservative in my debts. So take it for what it's worth.

 Lee, I hear you. I was assumptive. Most that do sacrifice to save before coming on asking if triple risk leverage to get started to get started say they have already tried saving every way possible first.

If someone asks if they should get into a high risk high cost program to fund their high risk high cost credit cards as seed money so they can get a high risk hard money loan, I am going to give my wisdom and guidance and exaggerate a point. No. That is a stupid idea and will most likely end in financial carnage.

Sing kumbaya around the campfire with everybody if you wish, but I have done what I suggested.  Go ahead and sing one round of kumbaya for every layer of insane risk the OP is asking about, then triple it because the problems he will face compound exponentially.  And one extra round because these programs also cost $3k or so up front. Wisdom has taught me that, too.