Business Credit Cards-californiashelfcompany

How To Obtain Business Credit Cards

Put an end to your business credit card rejections. Identify the reasons behind your denials and implement the necessary measures to prevent future occurrences. Many rejections stem from issues that can be easily rectified.

  • Is it due to a low personal credit score?
  • Is it because of insufficient revenue?
  • Identify and address these factors to improve your credit card approval prospects.

A straightforward solution is to ensure that all the business loan application aligns with the data registered with the Secretary of State, the business license(s), and all other points of public exposure.

This encompasses:

  • Ensuring the accurate spelling of your business name
  • Verifying the correctness of your business address
  • Confirming the accuracy of your business phone number
  • Utilizing an email associated with your domain name
  • Validating the details on your website
Business Credit Cards-californiashelfcompany
Business Credit Cards-californiashelfcompany

By verifying these aspects, you can prevent rejections for easily rectifiable reasons. Lenders often start by assessing the legitimacy of your business, as a substantial number of applicants are deceitful entities. They determine this by cross-referencing the information on your loan application with other sources, such as the Secretary of State’s records.

  • Ensuring data consistency can prevent simple denials.
  • Lenders prioritize confirming the authenticity of your business.
  • Many applicants attempt fraud, making data alignment crucial for credibility.
  • Cross-referencing with official records is a standard practice.

It is important for your company to have its own:

All of this helps to give your business establish more credibility. Hold the address lease, the phone account(s), the email and the website in the name of the company, and not in your personal name.

When delving deeper into the lending process, factors like the existence of established Corporate Credit Cards come into play. Small Business Credit Card issuers aim to ensure your company’s ability to meet financial obligations, making it crucial to have at least three accounts reporting under your shelf company post-acquisition.

  • A solid personal credit history is important, particularly if your LLC’s Business Credit Cards don’t have a strong track record.
  • Numerous companies provide assistance in building business credit and securing Business Credit Cards while you work on increasing your company’s revenue.
  • It’s valuable to assess your company’s weaknesses in the event of rejection and take steps to strengthen it.
  • In cases where personal business credit is subpar, exploring subprime business credit card options may be necessary.
  • Assets like collateral, inventory, equipment, stocks, bonds, 401k’s, age of the company, and IRA’s play a significant role.
  • Ultimately, if traditional approval remains elusive, exploring business credit lines may offer an alternative route to obtaining a loan.
  • Consistency between the company data on the loan application and public records is crucial to avoid fraudulent concerns.
  • Securing funding is pivotal for the growth and success of your business.
Business Credit Cards-californiashelfcompany

What States Should I Consider When Buying the  Shelf corporation?

Obtain a  Shelf corporation from a state that requires a low annual filing fee to maintain the company, respects your property rights, and doesn’t require disclosure of the owners of the company on public record. Montana corporations are ideal. The annual filing fee is $20 per year. The New Mexico LLC’s work great in California as well. There’s no annual fee for a NM LLC.