Transcription
Is it possible for you to get up to $50,000 in unsecured credit even if you have a poor personal credit history? Well, the answer is yes. I have a secret backdoor loophole that you could use to get up to $50,000 even if you have poor personal credit. So, I have a lot to share with you. So, let's get started. [Music] All right.
So, most people have these little gimmicks on how you can actually get unsecured credit without having a good personal credit history. And some of that's true and some of that's not true, but it does depend on exactly how you set the whole thing up. So, I'm going to share with you a little bit about something that I call corporate or business credit.
Now, before you shut this off, before you think you know something about that, think again because what I'm going to share with you is something brand new, something that I've never shared with any of my students before. So, there is a secret loophole that you can use to, whereas you can get a lot more in unsecured credit even with a brand spanking new business and even if you have poor personal credit. But there's a simple way that you have to do it, a specific way that you, if you screw it up at all, you're not going to be able to get the credit. Okay? So, I'm going to share with you exactly how this works, but it's going to take some, a little understanding on your part to figure out how this goes step by step. So, I'm going to share this exactly with you. So, then that way you have an idea of how this works.
Now, first things first. If you don't personally have a business corporation that's attached to your name, like an LLC, an S corporation, or a C corporation, doesn't matter if it's in your personal home state. It does not matter if it's an anonymous state like New Mexico, Nevada, Wyoming, or Delaware. Does not matter, you know, as long as it's an active corporation. If you don't currently have an active status corporation, then you're probably going to have to get one if you're going to use this strategy. In fact, you're definitely going to have to get one. So, what you want to do is get yourself a corporation. And I prefer the anonymous states, which means that even though the federal government will know who you are, they're always going to know who you are. You need an EIN number, which stands for employer identification, which is essentially the social security number for your company. They're going to always know who you are. But people that are looking for you or looking at who owns the corporation doesn't necessarily have to know who you are if you file in one of the anonymous states, which again is New Mexico, Nevada, Delaware or Wyoming. And you can look up online to file an anonymous corporation. So just go Google anonymous corporation in Wyoming or anonymous corporation in Delaware, for example, and you'll find a quite a few companies that actually do that service for you. They'll set it up for you.
So, you want to have your anonymous corporation and then once you get your anonymous corporation, you'll also get something called an EIN number. I strongly urge you to have the company forming your corporate docs and getting the corporate docs ready for you. Have them get the EIN for you because half the time the IRS.gov website doesn't work correctly and does not kick out EIN's, you know, without some kind of glitch of some sort. So, I just typically have the company forming my corporation to get the EIN for me and it, it runs an extra $35 to $50 depending on which company you're using for the service. So, have them get the EIN for you.
So, once you have your corporate docs, including your EIN, now you should be able to go and apply for credit. However, if you do not at least have a 720 mid-personal FICO score, then you're probably going to have a problem unless you do this extra step. Now, this is the extra step that nobody else is going to share with you. And I did talk to my attorney about this to make sure that it's a 100% above board because I've had students do this before. Just wanted to double check to make sure that this is fully legal. Me personally, I have an 850 FICO score so I don't have to do it this backdoor method. But maybe you don't have an 850 FICO. Maybe you don't have a 720. Maybe you don't even have a 600 at this point and you still want to benefit from getting up to $50,000 in unsecured credit ideally to use for entrepreneurship or other business building opportunities.
So if you don't have a good personal FICO score, then you're going to have to get yourself a second corporation. Okay? So here's what the second corporation is for. The second corporation is going to be your name. Your personal name incorporated or your personal name LLC. So for example, maybe your personal name is John Anthony Smith. So what you'll do is maybe you'll get another corporation that's anonymous in say Wyoming and you'll be John Anthony Smith LLC or John Anthony Smith Inc. and that'll be your second corporation. So with your second corporation, you're going to have an additional EIN, which again is the social security number for your corporation. So then what happens is when you go through the process of filling out a credit application online with any kind of unsecured business credit card company like Chase, Inc. for example, example, or American Express or any of those unsecured business credit card companies, you'll use your company, the first company you formed as your company name with that EIN and that company address. Ideally, you'll have a different company address. Maybe you'll have a UPS store address or something like that. And you'll have that and you'll have ideally a business phone number, maybe an extra cell phone number or maybe a Vonage number or a Google number or something like that for your business. And so you'll have the business phone number and the business address and so forth. Then when it comes to your personal information, the personal guarantee person, you will be putting John Anthony Smith or whatever your name is, but you'll leave the LLC or the Inc. part off. And then you'll fill in the EIN under the Social Security area. Okay?
Now, this is 100% legal. Doesn't always work; there's about a 75% chance that it'll work, especially if it's a lower balance credit card because you have to understand that this new EIN for your new personal LLC or corporation is going to have to start the process of building credit under that EIN and you're coming in brand new and you're not going to have any credit rating at all. So, you might want to start with smaller balance credit cards in the very, very beginning. In fact, if you have a little bit of money, you might want to start with a secured business credit card. There's certain companies that do offer secured business credit cards like Bank of America, for example, but you might want to start off with a secured credit card if you cannot, in fact, get the, the, the business credit card that's unsecured. But many times this does work. I, I've had a ton of students utilize this strategy. It is legal. You're not doing anything illegal by doing this. And this is just another backdoor method to be able to gain access to unsecured business credit card or credit rather to be able to ideally use to build a business.
Whether you're trying to, you know, start investing, whether you're wanting to start an online business and you need funds to do it, do not do this for the purposes of racking up credit to just walk away from it or screw the bank over. There's bad karma related to that, by the way. But also, you're just going to be screwing up your chances of being able to utilize OPM or other people's money to ultimately build your investment enterprise or your, you know, entrepreneurial pursuits. You don't want to, you know, you don't want to bite the hand that feeds you. You want to be able to use this credit to be able to build wealth. So then that way you can actually start getting rich. Stop thinking like a poor person because a poor person thinks about how they can get one over on a bank. A rich person thinks, "How can I borrow the money and pay it back as quickly as possible so they'll give me even more money so that I can get even more investments and I can make even more money and get richer and richer and richer?" That's how rich people think. So, you have to sometimes change your thinking if you're going to do this and do this respectfully, do this, you know, financially well and to be able to build wealth with this strategy.
But that's how you use the backdoor method to be able to get unsecured credit, which will again be unsecured business credit, which by the way would never actually show up on your personal credit reports anyway. And so you basically want to be able to do it using this backdoor strategy until you're able to fix your personal credit. You should still always be focused on fixing your personal credit. Don't just walk away from that. Always continue to work on your personal credit until you do one day have that 800 plus FICO score. But in the meantime, you might, might want to use this backdoor method to be able to start gaining access to unsecured business credit right away so that you could use that money to ultimately build your wealth enterprise.
So, if you found that this was useful content, make sure you give me the nice thumbs up as well as subscribe to my channel because I have a lot of stuff, especially when it comes to business building and making tons of money with little easy to do, cheap side hustles to start. I have a lot of videos like that coming. So, go ahead and subscribe to my channel. This is Monica man signing off and I will see you in the next video.