Study Hall: Business & Personal Credit Blueprint

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Yes, so let's get into this. We're going to bring my brother Jose Rodriguez on. And this is something that you know, a lot of people have been asking about for a long tom and surprisingly enough, it's one of these things that you know, we've talked about business. We talked about credit a few times, but i'll earn your leashes platform as far as like the podcast, you know, we haven't really talked about business credit too much, And I feel like we haven't even spoken about credit that much.

So I feel like it would be a good time to we visit that conversation.

Starting twenty twenty two, off Right headed into the second quarter to talk about business credit, talk about personal credit. And there's a lot of different things that's going on in the credit space. I just reported on something today as far as you know, banks allowing people to pay their rent with credit cards and things and that.

So it's a lot going on. But Jose was going on.

Brother, Hey, guys, is going on? Making you be good?

Yeah?

Perfect? Let me tell my volume a little bit.

Yeah, yeah, man, how you're good?

You're good?

How's it going? Awesome?

Good man.

I appreciate you guys. Man, appreciate it. I appreciate you guys having to me back on no no column.

Man, we haven't seen you in so long, but that was just early this month we lived together.

Yeah, yeah, yeah, yep, yep yeah.

When I told my wife, I said, yeah, we got Jose to night for opening roll maentn.

She was just like, he's just one of the nicest people, like, yeah, out five, maybe not, he might be top two, maybe not too. Just the most genuine people we I've ever met.

So so you, bro, I appreciate that. Man, means a lot.

I'll see the new merch going off too. We got cash debt.

Cash, don't use cash, don't use debit, use the AX. And then the business credit veteran had you know, since on the military promote business credit, so I figured I switch it up a little bit.

I'll start generally I like it, I like it, I like it.

So, yeah, anybody that's not familiar with Jose, he's been on our platform variety of different times, from Eyo University to the podcast to U recently just did ash Cash this show Inside the Vault. And then of course you know he's been working with DJ MVY and Caesar for a long time doing real estate seminars with them, MG the mortgage guy, the whole crew. So yeah, you know, expert in the field. As Choice said, definitely one of the nicest people, but one of the most knowledgeable people

Never cover up.

Credit and it's something that you know, we talk about stocks every single week literally, so we talk about credit maybe a couple of times a year. You know, anytime we get a chance to talk about credit is something that you know is extremely beneficial because nobody knows it

How to leverage it, how to use it in the business.

Then, like we're doing these things in real time, but we're learning from exercise.

So that's that's that's why it's important.

Yeah, extremely important.

So so yeah, so I'll just give the quick rundown then we could just get into it.

So what this is. We do this once a month and it's called open enrollment.

So ey L University is a platform that we started and that is our private school as far as the education is concerned. Obviously everybody knows what we do. We're earning your LEAGI on market, Mondays, podcasts, Instagram, all that stuff every day free. But EUYL University is offline and that's hands on, twelve thousand students in there, earners in there, and that's we have a book club, movie club, I do my financial planning calls, MG does biweekly real estate.

Calls, and one of the things that we have is we have.

Weekly classes where it's a more hands on approach like Zoom, where people get to ask questions and you know, interact and different things of that nature. So we have what's called open and rollment to show people like what Eyo University is all about, and we do that the last Wednesday of the month. So the last Wednesday of the month is that, you know, we just pick a different topic.

So this is this is what this is going to be. So we'll go over this.

We you can talk about Eyo University a little bit more in detail later on. I will drop the link for anybody that wants to join the Eyo University. But yeah, I don't even always too much time. I want to just get into it, and I know Jose got a lot to talk about, so yeah, let's let's let's get it.

Hey, we got to mention that Jose is actually a professor. Oh yeah university. One of our prestiges ten your stieges, a ten yured professor is just that good.

Yes, yes, yes, Jose, the floor is yours brother.

Awesome man, Thank you guys. Once again. I appreciate you guys and your leisures.

Definitely.

You know a platform that you know, you guys having me on it, educating it on it.

I really appreciate it and uh.

The honor to be on here, to to give people knowledge on the.

Personal and business credit.

Man. I look forward to changing some lives today. Man, So let's get into it. Uh, those are you guys that that don't know me? My name is the credit dude, Jose Rodriguez. I served my country in the Marine Corps and now I'm serving the community through credit. I own a company called God Credit because you know, we're more more than just a credit repair company. It's it's it's it's there's a lot of power, as you guys can see,

And that's what I'm here to teach you guys. You know what I mean.

I think that a lot of people don't realize that even with a six eighty seven hundred credit score, you can make a lot of money, or you can start a business. You can still work you nine to five, and you can still do a lot of damage. And I think that one of the things that I really want people to understand is you don't need a perpose credit score, like you don't need an eight hundred. Stop chasing the you know, I make a joke all the time with the new balances.

You know, you put the new balances on, you got a A fifty.

The thing is is you don't need an a fifty, a eight hundred, even a seven fifty to really take your life to the next level. And the reason why is is because there's something called business credit. And business credit is one of those things where a lot of people may not understand it, but it's really easier than you think. But I always tell people, in order to truly understand business credit, you do have to have your personal credit on point, because this is the thing, how

And then just use it and then just leave it, you know.

Just leave it alone and use that to leverage more business credit. And so I'm gonna I'm gonna go over some topics today, guys. I have I have some powerpoints, but but I really want you guys and everybody watching to realize, like what what can a business credit card do? The thing is, you guys don't know what earn your leisure does you know that you guys do events everywhere, you know what I mean. You guys are are not even nationally, you guys all over the world, you know

You would attended an event a mastermind.

And that's the thing is you having a business doesn't necessarily mean you have to have all this income coming in. You can still open up an LLC and reap the rewards of meeting meeting people in certain rooms, you know what I mean. And that is the thing is where I want to just touch base with you guys today. I'm gonna share my screen. That's cool, right to share my screen.

A little bit, all right?

Cool?

So all right, guys, so got credit follow me on Instagram, you know, or you.

Leave your hashtag the biggest all right.

So when you guys come in here, so I always tell people, remember why you're here.

Remember why, like remember why.

You're a part of E Y L. And more importantly, you guys can see me good or see.

The screen good?

Yeah, you're good.

Okay, Remember remember why you guys are here, and remember why you guys are doing everything with attending these these types of YouTube videos. Right, it's really become the person in your family that changes the way everyone moves.

And you can do it.

You go full screen for us, that would be great.

Full screen. Okay, let me see it.

Let me see all right, my bad share screen there you go.

Okay, that's top. How's that?

I mean, it's a it's still like the not the full thing, but it's all right, we manage it. See yeah, I think if you hit the presentation thing at the top.

I gotcha.

Yeah. This is this is this is the part that my VP does.

Usually I don't this type of stuff because this is this is the marine inside of me, you know what I mean.

Let me see if I might have clicked like slides show all.

Right, slide yeah, I don't have like a present thing or anything like that.

What I always all right, let me go back to zoom.

Sorry about that, guys.

This is sometimes why I don't do the proud points because it's like throws me off a little bit.

All right, and.

All right.

So the thing is, guys, when it comes to your credit, I always tell people, remember why you're doing it, and remember the most important thing is it's not about yourself, Like you should never look at credit and and kind of be selfish.

You should always look at.

Credit as a as A as A as a as something bigger, like for your kids and for your grandkids. Right, And the goal is to make a business so that you can buy your time back with your family and become the best person you can be. Now, this is the thing. If it wasn't for credit, it kind of

So if you get your your credit right, usually.

Start going to the gym, you start buying better clothes, you start looking a little bit different, you start walking a little bit different.

And that's the true power.

And in something just something simple as credit, you really start to move different. Man.

And and a lot of people are front of those store cards.

But if you have good credit, you can afford maybe a little bit of to look a little bit better. Not more expensive clothes, right, but just have a better outfit. So that way, when you go to a networking event, and whatever the case is, it's really it's really all about mindset too.

You know what I mean.

I always tell people cash is king, but credit is the queen. And we all know who runs the castle, right at the end of the day, the queen runs the castle. And a lot of people think that cash is king, which it is, right, it is king. But it is easier to obtain one hundred thousand dollars in credit cards than it is to save one hundred thousand dollars in cash.

And that's a fact.

I can bet or do a versus with anybody on that, Dave Ramsey, whoever the case is right, it is a lot easier to build one hundred thousand dollars in credit than it is to save. So the goal is always to have forty five credit cards that each have twenty to thirty thousand dollars credit limits.

And that'll completely change your life.

Why because now you have that one hundred thousand dollars to start your business, to retire your mom, to hire your wife, and to do so many things that I did the same thing, you know what I mean, Like retire my wife, retire my mom. Right, my brothers worked for me, like my whole family, like you put everybody on.

And it all started with credit.

And it really started happening when I started doing a lot of business credit, you know what I mean. So just remember guys that there's a lot of power in credit.

All right.

Two things real quick that I always want to go over it because I do want people to understand that when it comes to your credit, if you're late, that can affect up to one hundred and ninety two point five points. And if you max out your credit cards, that's one hundred and sixty five points. I made a post on this the other day on Instagram. So if you max out a credit card and you're late, that can affect your credit score about three hundred and fifty points, you know what I mean.

So make sure that you guys are still keeping that down.

And this is why business credit is so powerful, and I'm gonna I'm gonna tell you guys why. All right, number this slide right here. Make sure you guys are monitoring your credit. You can go to god Credit Monitoring dot com to go ahead and monitor your credit for like twenty bucks a months. That's your personal credit. Okay, the business there's nav dot com, which I've talked about a lot. You want to get the business boost one and then D and B which is free to get

But maintaining on time payments, guys, is key.

And the easiest way you guys can do that is put everything on autopage. One of the things that my mom first taught me when I got out the Marines is put everything on auto pay. Doesn't matter if it's a twenty five dollars payment or if it's a thousand dollars payment. Put everything on autopay and you can never be late. Right, So people like, oh, how do I prevent charge offs? Well, prevent late payments? How do I prevent late payments? Prevent a late payment by putting everything

To help you out. But instead, if you teach your.

Kids about automatic payments, your grandkids, your cousin Denise, like, you could really change a lot of lives just with the auto payment.

And it's free, all right.

So, as you guys know, there's been a lot of changes in the credit world and the credit space and things like that. One of the biggest ones, guys, that we've seen this year, which is pretty crazy, and I actually like it. A lot of people don't like it because it obviously if they're due credit repair, it's it's gonna affect their business. The thing is, guys, as of July of twenty twenty two, this is probably the biggest update.

Well.

The great thing is, guys, is now medical collections are gonna come off your credit if you pay them. That's powerful. Why because even after July of twenty twenty two, if you get a medical collection on your credit report and you pay it, you don't have to get that letter anymore that says, hey, will you remove this from my credit. This is gonna change the lives of so many people that were affected either by COVID you know, unfortunately, maybe had a surgery, a code pay, whatever the case is.

Now.

The other thing is that's big, that's big, huge, it's huge, and the key word is paid.

Right.

They have to pay it off in order for it to come off correct.

They have to pay it because back in the day, you have to if you pay the medical collection, it would still stay on there or yet work out an arrangement with that collection agency to remove it, which we all know doesn't always work, you know what I mean. The other thing is, which is which is probably my favorite thing of this is besides the paid collections, right, is that as of early next year of twenty twenty three, any medical collections that are under five hundred dollars won't

Right.

So that's my favorite part of this new medical bill that came out, is that.

That's another thing that we see people with, you know, two hundred dollars collection, three hundred dollars collection, four hour collection, and it drops their credit score two hundred points, one hundred points, whatever the case is. And it's a copay. Man, I just forgot to you know, howny times. I forget to pay my cope all the time, like or they send me another bill. It happens guys, it's you know,

It is not gonna work that way.

And I promise you that the credit bureas are gonna lag on it.

They're not. They're gonna take their time.

Right, But they do have like algorithms right where if it meets a certain criteria, it should fall off. But do expect to see some type of laves with that. And then the other third one when it comes to this is before it would be six months before a medical collection agency or a doctor or any medical provider can send your bill to collections. It will usually be

They give you the credit card and through built is.

Will you get the rewards and things like that that you can convert the cash and all that stuff, right, So you still need decent credit to do this.

Now here's the thing.

Be careful with this because even though the credit card does come with a limit and you can use it at certain places to pay your rent, if you max it out, it is going to drop your credit score. Okay, So just be careful with that that if you get you know, don't look at it as like, oh, man, I can pay three months of rent with this and then carry the balance, because there are going to be you know, penalties if you carry a high balance, and

Is to be careful.

For guys, there's a lot of credit repair industry companies in this in this world right got credit can't do it all, you know what I mean. And I always say collaboration is bigger than competition, like how Matt says and anything like that. So guys, if you're doing credit repair, this is kind of like a warning. Not for me, and I'm not gonna put up the article to put anybody on blasts. But there was a company in Texas that was shut down for doing these two things, charging

But just google it.

FTC halts credit a pair company and it'll come up Federal Trade Commission, right, So just be careful with this because I know there's a lot of people that want to do credit. They want to do credit repair, and it's a really good industry to be in because you can change.

A lot of lives.

Just be careful with offering up front payments, meaning if you're charging people the same day that they sign up with you, just be careful with that, guys. And if you're enrolling with a company that charges the same day, be careful with that too.

Right.

There's usually a grace period as to when you can cancel and then you can charge that first payment or whatever the case is, and that's usually what the law allows, which is called CROW the Credit Repair Organizations Act, and then trade lines. Be careful with that too, you know

So just just be very very careful with what.

You're doing and how you're changing people's lives, because this industry can not only hurt the people that you're helping, but it could land you in jail. And you don't want to be the one that's in front of a newspaper or article that you got in trouble.

Okay.

The other thing with personal credit, you always want to use it to maximize for business credit.

And that's what I mentioned before.

All right, so guys, an alternative to building business credit to tradelines, Right, you guys can take a screenshot of this. I'm gonna give you guys my email address if you guys do want to copy the slides. All these cards, guys, are good cards to get to build credit. You gotta have a foundation, You gotta have some type of credit cards.

You got to have something.

You can't just expect the seven to fifty credit score with one credit card. Unfortunately, it's not the way it works. You can't expect to have an eight hundred credit score if you're eighteen, you know what I mean. You can't expect to have it an eight hundred credit score or seven fifty credit score if you're twenty seven thirty and you.

Just started building your credit. You know what I mean.

So these all, all of these accounts, guys take a screenshot of it self. Lender to save these account kickoff. They give you a five hundred dollars limit to buy something on their website. Grain it goes off of your checking account. Everybody should know who Capital one is. They give Starter Cards up to three thousand dollars, the Pedal Card up to ten thousand dollars, the Tomo Card Extra card, and the X one Those typically will go off of

Right, they use cash app, they use Venmo.

Why do you think they're putting all these protections and things like that on Venmo and cash apt because people were abusing it. Get a checking account. How do you expect to buy a house, get a mortgage, start a business if you don't have a checking account. Get a checking account. It's one of the sometimes the hardest things to do, but it's the easiest thing.

To do, Okay. Pedal, Tomo, I mean a Tomo Extra card and X one.

These are all credit cards that are typically going to approve you based on if if you have a really good checking account history and they don't run your credit. X one is the only one that runs your credit afterwards. And Solo's pedal, so they'll preapprove you. And if you get pre approved good these So if you look at it ten thousand, ten thousand, five thousand, five thousand, three thousand up up to Capitol one a thousand with grain,

Just put in the work, you know what I mean.

You can't.

There's no fast there's no pill to fast track good health. And there really is no secret letter or secret account that's gonna fast track you the good credit the right way. The last two accounts, guys, Pentagon Federal and Digital Federal Credit Union. These are two great accounts to have, especially if you're looking for a checking account and things like that.

Take a screenshot for the ones that say bank account is like is there a minimum minimum you need to have inside the account, like maybe five hundred or a thousand dollars to get approved.

It's crazy because I've seen people with no money in the account.

But have good history get approved.

And then I see people that have two thousand dollars in the bank one time and then have negative history before.

So it's as long.

As you don't have like a lot of negative balances in the bank account, you should be good. But you typically want to have at least a little bit of cash in there for when you apply.

So that way, the can you know, give you a good limit perfect, you know what I mean. And then and then the.

Thing is, if you don't have a bank account, get one with Pentagon Federal or Digital Federal Credit Union. You could do these all online and then open up a bank account, throw some money in there, do your direct deposit, and then apply apply with X one extra and Tomo and boom, now.

You've got three credit cards.

Like a lot of clients are getting a proof of fifty five hundred, ten thousand, you know what I mean, seventy five hundred. That's a game changer right there, because now you have access to credit that you didn't have to do with the tradeline or or a secure credit card. The worst thing you can do is get a secure credit card for five thousand dollars.

Don't don't ever think you need to do that. All right, So guys, get.

Your personal credit up, and guess what. If you have good personal credit, you can pre qualify with Wells Fargo, Bank of America, Chase, Capital One, American Express, Discover and they'll you could just go on their website, right on each of these companies websites and say, hey, I want to pre qualify before I actually apply for you. Next thing,

Boom. Now you're building.

Your personal credit up so that way, when you start building business credit, it's a complete game changer, you know what I mean. It's a complete it's a complete, complete game changer, guys.

And with business credit, here's the thing. When you when you really start.

Focusing on the business credit and you get your personal credit to a point where it's good. Like I said, six eighty seven hundred guys, it doesn't need to be perfect. You really start moving differently, You really start to attract

You start try.

Like you start looking at the people you grew up with, like, man, this guy hasn't done nothing like the last ten years. No wonder why I'm not even doing anything because I'm I'm around the wrong people. And and your credit can literally get you into rooms that you never thought possible. But your credit can get you in there. Why you

So imagine if you build your personal.

Credit to like thirty or forty thousand dollars limits, you get to a certain point and then boom, you open up your LLC. Now you start traveling, you start going to earn your leisure events, you start going to masterminds, you start attending different events, and then there you're like, you know what, Wow, man, I'm tieding by nine to five. I already have my credit set up. I already have my business credit set up. I already have a one hundred

And this is the thing.

Sometimes we hate our job so much that we stay there though, because we don't have anything else to do.

Well, guess what, guys.

Credit is a thing that can help you with making that decision to start your business. And it doesn't necessarily have to be Turo, Airbnb or real estate. There's so many other businesses that you can get into with your credit. The thing is, you can literally hide your credit card debt so now imagine you put all your credit debt on your business credit cards.

When a mortgage lender runs your.

Credit, you have no debt, but you have sixty thousand dollars on your business credit side. And a lot of people say, like, I don't really need five Amases, I don't need two Americans, I don't need this. Well, guess what, your credit score does need it. Because you can get these credit cards and still pay for the same things that you will with a personal credit card. Put it on the business side, and then now when you go get a house, you have zero debt. You qualify for

Right.

So now the crazy thing is is, over the last like four years, guys, I had high interest all the loans because my debt was high. I'm not afraid to admit it. The credit dude had a high credit card debt.

And you know what I mean. I'm human, you know what I mean.

But when I've really started with business credit, everything started shifting to my business credit side. And now all I have on my personal credit report is one auto loan. As you guys know, Range Rover. They still require to do a personal guarantee in the business and things like that, so it still shows up on my personal credit but every other car that I have is on my business side. So when I went for this house that I just bought, my income did not change. My income was the same

A business is health insurance. What do a lot of people in our community not have access to health insurance?

Why because either their job doesn't do it or they don't think that they can get health insurance.

Well, guess what.

One check with your accountant and check for your attorney, right because I'm not an attorney and I'm not an accountant, right. But get in the LLC, get your EI in, get everything set up, and if you have a family, you can get health insurance through your LLC. They don't ask for income, they don't ask for anything when you get your health insurance. Right, I was paying I think eighteen hundred dollars for just Kelly and Payton when I was getting insurance through the private market.

When I started doing it through the LLC.

Now it's a thousand dollars, like a eleven hundred dollars a month from me Kelly and Payton. And my insurance is top notch, to the point to where when I had COVID and I was sick in the hospital, people said, do you work in the hospital. I'm like, no, why because we've never seen anybody with this health insurance. This is the health insurance that we have as hospital employees. My insurance is on point, you know what I mean, And it's all through my LLC.

So now what happens. Every single payment.

That I make for my health insurance through my business is one hundred percent right off. When you have health insurance your nine to five job and they take it out of your paycheck, that's.

Not a write off. That company's writing it off.

Well, now if you have health insurance and you get an LLC, you can write that off. And that's what I'm saying. Just check with your account, check with your attorney, because this is a big benefit also to getting a business right, So guys, start that LLC right.

Creating an LLC is a lot cheaper than you think. You have a lot of resources.

You go to legal Zoom as attorneys in in earn your leisure right, or you can just go on your webs on the state website and do it yourself, you know what I mean. Use your personal credit to secure higher limits and then just leave your personal credit alone because there's a lot of power and business credit. Guys, there's so much power that you think, all right, high limits.

You can get a line of credit.

There's a there's a company called Fundbox f U N D b o X Fundbox that you can apply for a line of credit with them and they'll say, hey, you can either get a line of credit or we'll give you a loan and you can choose which one you want, and it's all based off of the revenue that's going into your business. Right, and there's another company called blue Vine. Right, so let me just I could type this in right quick so you guys can make sure you spell it right.

Is Fundbox.

Let me just let me just add while you're typing in Jose great information. Everybody, hit the like button. Hit the like button, show me important. If you're on your phone, just hit the X and you can see the like button. But I'll add to this business credit conversation, it is very very important business credit. As you said, the limits, Like I'll take my own personal example, or have like an eight hundred credits.

Or something like that.

And I don't know how much personal credit card limits I have. But let's say all together, it's like I don't know fifty thousand something like that, just throwing the number out there. But on the business side, it's pretty much on limited. So we have like an AX we have two Amex cards, one for Eyo University, one for Ernie Leisure, and it started with like they each started with like fifty thousand dollars limits and then as we use them now I don't know what the limit is.

What is there a limit?

Now it's like they actually we got on the phone with them last week.

They actually called us because you know, they sort of the points that were accumulated and like, look, you guys could actually get more. And so I know it's probably six figures at this point because of.

Meaning, so we we spend probably close to one hundred thousand, maybe over one hundred thousand dollars a month on these credit cards. Now it is extremely important to be financially responsible because like the cards that we have, we pay. We have to pay every single month. So it's not like a a gimmick where you can just you know, run up a business credit card.

You still got to pay it.

So don't use the credit card if you can't pay it, right, that's financial literacy responsibility, But it gives you so much more leverage than personal credits because I still don't have that kind of limit on my personal side, and I have excellent credit SCRD and I've had these credit cards for years, like over ten years, and we just got the MX cards last year and.

We have over six figures that we can use.

Like you know, I brought by my watches, about all my watches on a credit card because that's the only way that I can do it. Other than that I have to get like a whole like process to actually get you know, a certified check from the bank, and you know, you can't take out that kind of money from the bank, and it's a whole headache. So I could just use my MX card. Then I just pay it back right away and just transferred from my personal

Yeah, yeah, man, no, man, I definitely think you hit the nail on the head with that.

You know.

The great thing about American Expresses, you know, I started, you know, everybody knows I found bankruptcy. American Express was in my in my thing, in my bankruptcy, whatever the case is. I finally got my credit cards back in

Yeah, I just I just add real quick goes because when just sold that story about business credit, I actually opened up my own LLC probably like maybe eight six to eight months ago. And because on your episode when I talked about being a personal guaranteur and having a line of credit through my parents, right, like I was an authorized user and so my.

Credit history was so long.

When I opened up my own LLC, the first thing they said was like, would you like a line of credit? I'm like, all right, fine, I'll just take it. When I applied for it, they automatically qualified me for fifty thousand just because of my history. Like I haven't even used the card, but just to know that I have it.

Yeah, And I think think a lot of people are scared of the word personal guarantee because they're like, oh, I want to build business credit without my credit. I'm like, well, you got to start somewhere, and if you can use your like if they say, hey, man, you got good credit, we'll give you fifty grand, Like, give me that all day.

Man.

So that's dope, man. Congratulations, love to hear something like that. So, guys, the two.

Companies that I said is Fundbox and Blue Vine. Those are two places guys that you can get a line of credit and even a loan even if you have subpar credit, right, but as long as you have some type of revenue coming through the business, you can do it.

And the other area, guys, that's really good. I don't you know. I recommend Chase. I love Chase.

I think they're one of the best bank accounts out there for business just because they're national and if you need anything, you can always if you're in Texas or California. You could always access to Chase Bank, right but Bank of America has a pre dope program. You open up a business checking account with Bank of America, you know, you deposit money, whatever the case is, use money, and typically after ninety days they will they will offer you a line of credit as well.

And that's just access to cash. So what can you do with a line of credit? A lot of stuff.

Imagine if Bank of America, Blue Line and FunBox each KB thirty thousand. Imagine if that's ninety grand right there. Imagine if each American Express Card gave you twenty five thousand to start boom, that's another one hundred thousand.

Next thing you know you're at. You're at almost a half.

A million dollars between personal credit, business credit, lines of credit net thirties.

It's endless, you know what I mean?

And that is truly like if I would have had even five thousand dollars when I opened my business, it would have been a game changer.

I had nothing.

I had no I have five hundred bucks, you know what I mean. So the other thing too, guys, with purchasing.

The equipment, what do you need?

You need?

You need a computer.

You need a MacBook, you need an iMac, you need photography equipment, you need a TV, you need microphones.

Guys, you can do that with Apple and Dell. And the other one too that I forgot to put here as well is Amazon.

Amazon offers net thirty accounts and also invoice accounts, so you could actually go on Amazon. I think everything's on Amazon. You can even buy food, clothes, whatever the case is. Amazon will actually also offer you a business credit card, not the American Express one, okay. Actual Amazon has like a store account that you can get. And imagine if now you want to start a photography business, you want to start a video editing business, you want to start

So this is another great credit card to have to build.

Your business credit. What do they have at Walmart? Bestarts closing food? They have TVs, they have video equipment, they have cameras, they have iPhones, they have you know, blenders, they have everything, pots and pans. If you're a cooking you want to start a cooking business, whatever the case is, if you want to start a bakery business is endless.

Guys.

You got to think outside the box when it comes to starting a business, and that's truly what business credit does. It allows you to think outside the box. Net thirty accounts are great, right, I still love Net thirty accounts. I've done a lot of videos for aerin your Leisure on which type of Net thirty accounts to get. There's the U lines, there's those type of credit cards with guys. Gas cards is a game changer, like like, look, I just got that.

This is one of the credit cards I have.

It's called Fuman, right, Feuman gave me twenty five thousand dollars credit card.

You know what I mean?

What what you need, what you're gonna get. You ain't gonna use twenty five thousand dollars in gas, you know what I mean. But the great thing is is if you have sales reps, if you have drivers, if you have other people working for you, whatever the case is, gas is expensive. But if you that's a business expense. Hey, everybody, he's a gas card. Whatever the case is. Now gas is not an option. Hey, go to this event, do this, do whatever the case is. And it's a revolving credit card.

Have gas cards.

So if you eat there and you put gas in your car, why not get a gas.

Card from the places? Next thing, you know, you get a sturt. Beat's right off.

Because you're going there to put gases at the same time, all right. And then the last thing, guys, is putting the vehicles in your business name.

If you are.

Watching this and you're never gonna get a business, this is the thing a lot of people say, once again, get where your account, get with your attorney. Oh, if you don't actually have a revenue or whatever the case is, you can't really put a car in your business.

There are certain places that.

Still will that will still do it if you have strong business credit or you use your personal credit as a guarantee. Now, not every place is gonna do it, obviously, with some places you still gotta show bank statements.

You just gotta sell personal credit.

But trying to get like a you know, a car that's under like sixty seventy thousand dollars, they typically won't really bug you for a lot of paperwork, and you can use that to put touro, you can use that to rent out.

You know, it's endless.

So don't think that just because you don't have a business right now. But you need a car to get to start a business, or to drive to an EYL event or to drive to a networking event.

If you ask me, that's you're starting.

You're starting your business and you can still become an entrepreneur without having any revenue coming into your your bank account.

All right, guys, So if you.

Guys want to connect with me on Instagram, all right, the credit dude, You guys can just click the link in my bio or schedule a call with us if you guys can extra help. But if you guys become a part of e y L. You guys know this open enrollment. You guys get me every month and I love to educate. I love to educate, so you know, join the e y L guys and you guys have get me educating you guys every month as well.

No, I appreciate that. Appreciated, brothers. So were about to go into the question and answer part. But before we do that, can you just briefly talk about for anybody I know we talked about it before before. Anybody that may be new haven't heard of it. The NAV and duns and brash you yep.

So, so NAB dot com guys is uh na v dot com is the business credit monitoring uh plot, I guess I can say. So, you guys know, there's credit Karma, there's ECHOFAX monitoring, there's Experience Monitoring, things like that. So nav dot Com provides the business credit monitoring for each business credit report. There's EQOFAX, Business, Experience Business, and then

E I N.

It just classifies you as a business and it's kind of like your reporting number. So a lot of times when you apply for business credit, they're gonna ask you for a DUNS number and you can go on DMB dot com and get it for free. You don't got to pay anybody to do it. You don't got to pay dun and Bradstreet to do it. It's all free.

So when when we talk about business credit, I mean when we talk about personal credit, we know that the score range goes from what three fifty to maybe a fifty right, So obviously in the business side, how is that score translated?

Is different?

I know, does D and B doesn't report, doesn't report the same way because it's like the E I N number.

How does that score get calculated?

So on the on the business on the Dune and brad Street it goes from zero to one hundred.

So that's the pay that score. It goes from zero to one hundred.

And typically if you pay your bills on time, you know how you have like zero thirty days before you can be late earlier early that you pay with dun and Bradstreet or the accounts that report the dune in brad Street.

You either could get a ninety or one hundred.

So if your bill comes in today and you pay it today, you're on track to get one hundred, right, But as long as you pay your bills within thirty days, which is the net thirty, you get an eighty on experience, it's called the Intella score, and that also goes up to one hundred. Experience also has like a risk factor of one to five, so you want to make sure that you're closer to one, and how do you get closer to one? Pay your bills on time, try not to max anything out, and that.

Goes up to one hundred. Equifax business typically goes up.

To like five eighty, so you really, you know a lot of people are like, oh man, my Echofax score is five hundred, Like you're fine, that's okay. That they only go up to five eighty anyway, so you're typically

Perfect and Transusion doesn't participate in the business side.

Nah, they just never got into it, Okay.

So yeah, just so this is all the information that you never learned in school, and most of us just never learned period. And you go through life and you just are ignorant to this stuff because you just don't know it right, and it's not something that you usually are having a conversation with because usually your social environment it's very similar. People hang out with people similar to themselves. So millionaires hang around with millionaires. Billionaires hanging around with billionaires.

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If you are living day to day, you are living paycheck to paycheck, you are just you know in that then that this isn't a conversation that you're really having. The conversations that you have in is a lot different than this, right, So the whole point is to actually, you know, expand your mind, even even if you don't have the friends circle that you might necessarily.

Need to build.

That's why we created a community where you can actually learn and get this insight, get this information, and even if you can't really fully understand or grasp everything at one time, what happens is that it's like learning a foreign language. The more you hear, the more you actually are around an environment with encouraging people, then that actually

I said, I always am baffled by that, Like I've had some messages with my books more than that.

No, it's not even it's I mean, it's not even a sales pitch. It's like, you know, if you want to be a part of it, six ninety nine for the whole year. If not, then you know, we still love it. You just you just get the free information that we just put out on YouTube. It's not it's not for everybody. It's no pressure, but that's just you know, it is what it is. So yeah, I think we that we put together one of the most impressive bodies of works that has ever been put together, and you know,

I'm back at it. I'm back at Let's see if I still got it. Soya, we're coming to you. Toya, I'm mute yourself. You've been unmuted. What's going on?

Hi? Everybody?

How you doing?

How's it going? Oh good?

I had put my questions in it Q and A, but I'll just ask like one, okay, So, as far as credit cards is it is it a bad thing to carry a zero balance on your card for a long period of time? I asked, because I've had two credit cards that I have for like eight years, and they just, like you know, at one point they reduce the limit because they said I hadn't been using them. So is it better to like keep that ten percent on there or to have a zero balance nowadays?

Yep, So I do see that happen happening a lot.

And I always tell people, you know, keep your credit cards on auto payment, right, and then if you know, you don't have to use every single credit card and max every single credit card out, but in order to prevent them from closing or lowering the limit on a credit card that's eight years old, five year old, what the case is. Makes And let's say if it's a store card, buy a shirt, buy a suit, and then it's on auto pay, so you know the whole thing

To be higher.

But with those credit cards that are kind of like BS credit cards, but you don't want to close them because of the history.

Just leave them on all to pay, use them every once in a while.

But also don't be afraid to use the credit cards either, if you know that that credit card is going to produce some type of return on an investment. If you have a ten thousand dollars credit card and you know that you can make twenty thousand dollars by using that ten grand, I'm gonna use the ten grand all day, and who cares if I carry a balance for thirty days, because I'm gonna get twenty thousand dollars paid off.

And then you get a business credit card or whatever the case is.

And that's the power what I'm saying, Like, if you get the business credit cards, it really doesn't matter how much you charge on it. But with the personal cards, put them on all to pay, use them every once in a while so that way they don't close them.

Out, and you can use them for specific things.

Like I'm a huge sneakerhead, and so I have an Amazon card has great rewards on it. I use it only for my ideas that like, I don't use it for anything else, and I don't buy Adidas too often. But if I do, it's just like I know that that's that credit card and it's on all the play so it's like boom, and then it builds up my points with them, and then so now I get access to a certain advantage, get access to early drops. So you could just have the credit card specifically for one thing.

Yeah, it happened to me where they close the credit card and drop my credit score a little bit because I wasn't using it.

So I'm gonna ask a question.

Yeah, that's that's what happened to me too, Like it dropped my script my score, and I'm like, WHOA. I thought I was good because I have a zero balance.

Yeah, but I mean it should go up. It should go back up pretty quickly though, right, Jose, Like, that's not something that's going.

To hurt you in a long term.

What if they lower the limit, if.

They if they cancel your credit card because you're not using.

It, Yeah, it could potentially hurt you because what you're doing is is you're lowering the available credit that you've.

So what I say with that is if you have if they close that card.

Out, kind of count your l it's a loss because if you try to reopen that card, they will run your credit. Another thing you could do is just visit the other credit cards that you have and see if those credit cards will give you a higher limit. Because if you're worried about inquiries, which I tell people, don't be afraid of them, because you have to run your credit sometime.

But all you got to do is really just visit the other credit.

Cards you have and see if they'll give you a limit increase, because that's a better option to do if they already close that card, because it's not the age of the account, but you don't have the available credit in that account.

And then also the reason why it closed my account because I had I think I had too many credit cards and it was just it was too much to use them all. So a lot of them I just didn't use. So my next question is how much how many credit cards should you actually have?

I tell people it really depends. Man.

I mean I have here on my desk right, and this is just some of my cards. Everybody's different. I mean, these are all credit cards right here, right, These are all credit cards right here right. I mean I have like three bundles of credit cards. They all they all paid on time, some of them maxed out. I went to Disney that two credit cards are maxed out for my wife's birthday. The thing is is as long as you do not carry balances for a long period of

Because what if what if you lose your job one day?

What if you know, something happens, and if you have hundred thousand dollars in credit cards, but you know you can only make the minimum payment that might save you from losing your house, from losing your car, or.

Whatever the case is.

So use credit still as also as a resource as a saving in case something bad happens.

And so I always tell people.

As many as you think you can handle, that you're not gonna max out. And that's a very broad question because I don't want people to be afraid to have twenty credit cards, you know what I mean, because it could save you one day.

We appreciate you, Joeya, thank you. Yeah, all right, let's see where we go. Rachel, Rachel, we are.

Coming to you.

Mute yourself. You've been on muted? What's going on?

Hello?

Hey, how you doing?

What's going on?

Oh?

I didn't know y'all were gonna pick me. I was just looking at the show. I didn't know you were gonna pick me.

You got a question?

Oh but I do have a question. But I always I just wanted to say this real quick. I just wanted to say that I just thank you guys for doing what you're doing. Because when I was like growing up, I'm like forty now, but when I was like in my twenties, you know, I had a good job. I worked for corrections or whatever, but I never knew this type of stuff. So now that I know, I'm like catching up. And I joined the I joined the stock club and everything and got my house. I just want

Hey, Rachel, thank you, and I want you to save forty with pride. I want you saying that like that.

Yeah, retired, I retired from my job and forty I got.

Into real estate.

I did all these great things, but I had no one to like back me. I found you guys, and now I'm like it's on and popping.

I love it.

Thank you, appreciate that.

But my question is real quick, what's the best what do you in your in your suggestion, what's the best bank to start your business?

Credit in your business? Excuse me?

Your business checking account?

Say that? Say that one part again business?

What's the bank? What's the best bank for business checking? Yes?

I love Chase.

I just love Chase because Chases chases everywhere and if God forbid, you're on vacation and you're applying for a mortgage, your business bank account, or a loan or whatever the case is, and they need something, Chase, Chase is usually everywhere and it's very accessible.

So that's why I like Chase.

Concur right like that, that's kind of who we use as well, we both had personal accounts there and so when we open the business just made sense that they can see all our finances is really streamlined. So that's who we use as well.

So Chase, Yeah, I use Chase. It's got a lot of accounts for Chase.

But I will say that it is important to diversify your banks because even I have an online capital one savings account, you never know, you never know what can happen, and you know they freeze your account.

Anything is possible.

So especially as you grow more assets, it's never it's not a bad idea to diversify and have You don't want to have like thirty different bank accounts, but you might want to have a few different, few different accounts for a few different institutions.

Yeah, I agree with that too. Yeah, thank you, Thank you, Rachel, and congratulations on retiring.

Thank you, thank you very much.

All right, Rachel, Rachel from New York. You know we ain't got to ask down to the city. Let's see, let's go to Tony. We coming to you, Tony K were coming to you. What's going on? I'm mute yourself, you've been unmuted.

What's up?

All right? What's going on? Brothers. How you guys doing this evening?

All right, good good. I'm gonna make it real quick. I just got two quick questions for you. I think you're already coveted earlier, but I just want.

To make sure.

So I was trying to apply for business credit and this company asks for a personal guarantee. So is that going to affect my personal credit? Is it going to show up that I'm applying for business credit? Is that going to mess me up personally?

Or would you mind me asking who the company is?

A company called Cabbage.

Yes, Cabbage actually will run your credit, and they're actually going to run experience.

It is going to be a hard inquiry. But here's the thing. If that account is going to.

Give you access to thirty forty fifty sixty thousand dollars, I say go for it. You know what I mean, because you're securing that not only with your business checking account, but also they will run your personal credit and that's like a line of credit, kind of like fund the box and Blue Viney.

Gotcha? Okay?

All right?

Second quick question is I've been established for about maybe eight years with my LLC, and I'm trying so hard to get business credit like right now, I think I got two credit cards, one Chase which is about maybe seventy five hundred, then I got American Express which is about nine thousand. What is the best bank to go to at this point with someone that's bringing in about maybe thirty five forty thousand business wise with those two credit cards and trying to maximize my business credit?

Is there like a institution that you can kind of direct me to for that?

What do you mean you're bringing in that a month or you're talking about.

Like a year? Like a year right now? Right, that's how much this business is making a year.

Okay, So so you want to know where you can go to what to leverage more credit or more credit cards.

I'm looking to go to a place where I can get more credit, like a line of credit, Like I want to try to get like, you know, seventy five to one hundred thousand line of credit.

Okay, yeah, No, So what you might have to do is you might have to because of the income you have coming in, you might have to apply for certain lines of credit. Right, so you might have to go to you already went to Cabbage, right, You're gonna have to go to a phone box you're gonna have to go to Bluevine. You're gonna have like, like I was saying before, Bank of America is a good place. Who do you bank with right now?

For business?

I'm actually with Chase Chase my bank right now.

Chase Chase does have some products that you can apply for.

They do, like you know, asks for a little bit more information, but just you might just have to get a few more credit cards too, because at the end of the day, what are you looking to do with that line of credit and that cash. Are you looking to invest it to buy more things? Or you're just looking to have it as a backup?

No, like I'm looking to actually invested, Like I want to buy, you know, some real estate and get into some other business ventures.

Okay, business credit?

Yeah, So I mean if you your credit sounds like it's good because you know, you have a Chase and you have some Madax, I will say, you know, log into your American Express account.

Number one and try to get at least six to eight.

American Express cards right on the business side, because you know, when was the last time you got an American Express card?

Man, I would say about three years ago.

Oh yeah, man, so you should you should log into your AmericanExpress dot com right and apply for more business credit cards. They won't run your credit since you have a relationship with them, right and and now that will give you access to more credit. When was the last time you got a Chase credit card the one that you have?

Oh well I got that when I opened up the account, and that was about maybe eight years ago.

So and that's a chase In card.

That's the Chase In card.

Right, well, then get another Chase In card since it's been that long since you got it. So now you got Chase Ink, you got you can get up to six American Express credit cards with no injury.

You got Cabbage, you got Blue Vine, you got.

Fun Box, And I think, man, I think that'll be enough to get you started where it's actually giving you cash.

And that's just the credit right away.

Perfect, perfect, all right, I appreciate it. Thank you guys.

That man appreciate you, Tony.

All right, brother, Yeah, that's a lot.

Let's see. Let's see. Uh, let's go to Morgan. We're going to Morgan. What's going on? Morgan? I meet yourself. You've been unmuted, that was going tell us?

How you do?

I think good? Are you.

I'm all right, just for the credit dude. So I've seen the class that you did about the American Express cards and I actually did it. I got I think I got four cars that night. My question is those cars that I got and I also have already did the Bank of America and I got a car in Bank of America in my business name. But none of this is reporting on my NAV credit report. Like I got the app, I downloaded the app, I'm paying for the service and everything, but none of it has posted.

Okay, So one, congrats with getting those credit cards and things like that. When it comes to those those credit cards the American Express, they won't really report to done in Bradstreet. Those are typically going to report to Experience your auto. You say you got the business all the loan already too.

Yeah, I got that through Bank of America.

Okay, that one should that one should be reporting to dun In Bradstreet and Experience. Now, usually what I tell people is this, when it comes to your business credit, what you want to make sure you have. You want to make sure that your state has the right information for the address, the E I N with the with the I R s your bank account, and then with all the credit cards, the done in Bradstreet Experience business and then also your all a loan.

You want to make sure everything.

Has the right address right because if they're if you don't really have a profile with dun In Bradstreet or any of the business credit burea set up with the current business address and it's an old one a lot of the times it.

Won't catch you know what I mean.

So what you want to do is just revisit all of the accounts that you have on the business make sure they all have the current address, especially it should be a business address if you don't have a virtual office, whoever the case is, and then just contact each of those credit cards and all alone and everything and say, hey, listen, you know I've had this account for X amount of time, and it's not reporting.

But what you also want to do is you also want to make sure that you're.

Still building the net thirties, the gas cards, you know, the Staples, the Amazon things like that, because a lot of the times, even if you have if you don't have enough accounts, a lot of the times it also won't report your credit score on the business side either. So start pumping up your business credit with more than with just with more than just those accounts, and see what difference it makes in sixty to ninety days.

Okay, I haven't. I haven't done the net thirty somebody just told me to do that as well. But so that that I haven't did the rest of it, I've done. But okay, thank you, no.

Problem, man, appreciate you Morgan, Yes, all right.

And if anybody's asking Eyo University, that's the Zoom people that have access to the Zoom, same people that like that's how you see on market Mondays too, that's the people that have the Zoom access.

Let's go toinally what's going on? I'm you yourself, You've been unmuted. What's up?

Hey?

I was going going on?

I appreciate everybody doing. It's so punctual with the call.

On appreciate no fridge berries, no fridge breaking. I have two questions. Hell say, I have a question about an LLC that I have Right I opened it up, it's almost a year old. I haven't used it for its intended purpose, and so I have some other business opportunities and I want to keep the age of my LLC as well as my credit card that I opened up in the LLC even though I haven't done anything with

Like how do I do that?

Yep?

So what you want to do is you do want to get with an attorney with that, just to make sure that.

You're able to do because it depends like if you if you have like a pizzeria and you're trying to do a consulting business, you might not be able to change the name of it and do the same thing,

And you just never want to get hung up. And even if you got to.

Lose the age of the account of the LLC, you might have to you know what I mean to to make sure that you're you're doing everything by the books, legit and within the law that the state that you live in.

Yeah, I was worried about the next code. I thought if I just changed the next code in the name, I could do it. But I'll researched that some more.

I appreciate that.

My other question is, so for the credit cards that we apply for, right, I used your chips as well on one of our calls and I was able to get a couple of AMEX cards and I got my Chase in cars, So that worked the beautifully, right. But my question is if I'm the personal guaranteur right on these business accounts and it's not like true business credit because it's not in the night Yan, Right, they ran my social and it's in my business name, but I'm the PG.

So do the same.

Apply on these cards as your personal credit as far as like if you max out the card on your personal credit cards, it would harm you because the utilization works against you. So is it the same if you apply for a credit card in your business name and you're the personal guaranteur? Is it those same rule or is it the business rules where utilization doesn't matter.

So that's it's a very question.

It's gonna meets you real quick.

Now, yeah, that's a very it's it really does depend because you know your your business credit utilization doesn't matter as much as your utilization and.

The personal side. But if you have all of your business.

Credit cards maxed out and you're not paying your net thirties on time, that is going to eventually hurt you. But if you have two or three, like you know, I have met I have maxed out credit cards on the business side, that's and I hide the debt and it's not going to hurt you as much when you apply for more credit cards as long as your personal debt isn't maxed out if you're using that as a

Okay, Natalie, Hopefully that did. Hopefully that did real quick.

We got one in the chat. Shout to all the earners that's in the chat. We see a lot of hands. We don't try to get as many as possible. It was somebody's rg's having a mic issue said, my husband bought a car last month under a personal credit but he wants to transfer ownership in.

His LLC as his EI in number. How can we do this by transferring over? Can you do it?

Is a question.

I'm assuming I think you got muted.

My bad guys.

You guys mind if I share my stream right quick and show you guys how to do that? Or do you guys?

Yeah? Yeah, I'll come free good Okay, So what you.

Guys are gonna do, I will drop. All you gotta do is search.

Business is Bank of America, Bank of America Business Auto loan. Okay, so let me go ahead and share my screen.

Business.

Allo.

All you gotta do is business, I mean Bank of America Business all the loan right, This link is gonna come up. I will put it in the chat section for everybody that's here, okay, and if anybody wants to drop that on the YouTube channel as well. But when you go here, right, all you gotta do. If it's in the personal name, all you're gonna do.

Apply.

Now, it's a refinance. Put the loan is this? Is it a Bank of America or the loan?

If it is, it is. If it's not, putting no, put the amount fifty thousand dollars, the loan term seventy two months, sixty months, whatever the case is. Do you have an online account? No, I like to continue without logging in. Put the ven number, look up the vehicle, follow the directions and boom, and you can typically refinance the car that's on your personal credit and put it into your LLC, even if your LLC is new. Bank of America will typically allow up to four auto loans per LLC.

So what does that mean? They will run your experience credit?

Right?

But check it out?

You will you you were going to run your credit anyway on the personal side to refinance it to get a lower payment. So now imagine and if you have you guys just said you guys have Uyo University, and then your leisure right.

That's eight. That's eight all the loans that you can get with Bad America.

That is a bar.

I just I just went through this process too, and they were trying to tell me. I won't say the dealership, but they were saying that I couldn't do that. I had to get it in my business name off the like once I did it. So that's a big bar.

Absolutely.

Yeah, yeah, yeah, all right, let's go to Franklin.

We coming to you.

Franklin. What's going on? I mute yourself, you've been unmuted? What's up?

Hey, how you guys doing. Appreciate everything on the culture and Jose fellow service member as well, So appreciate all the game giving out. I got a question as far as like trying to begin the process for getting business credit. So, like I said, I'm in the military, excellent credit score. I checked my AMEX cards to see I'm a spending

Yep.

So the one of the biggest things that people fall into debt with. And you notice it with people student loans, right, what are they doing. They're they're going into debt because they are spending money on education to ultimately either get them a job or start a business and things like that.

Right, Well, you could kind of do that with an.

LLC too, And that's why always say check with your account, check with an attorney, right just to make sure that you guys are doing everything in the legal parameters. The thing is, if I own a business right now, if I have a business credit card, and if I'm going to earn your leisure's event and I put the air fare, the hotel uber the actual price of the ticket, I can put that on an LLC on my business credit card and then it becomes a write off.

Right now, Here's the thing.

A lot of people that don't have a business are like, oh, I can't really start a business yet because I'm going to go to this event first and see if that's even worth it.

Right, Well, why not do that now?

And the thing is that's where your umbrella LLC comes in, you know Solano Management LLC. Right, And you can put consulting, you can put you know, marketing, you know whatever.

And that's why always say.

Check within accountant and an attorney to make sure you guys are doing it right. The thing is is now anytime you travel, anytime you go to an event, networking event, whatever the case is, that becomes a write off because you're trying to educate yourself into becoming an entrepreneurship. But a lot of people think that you have to actually have that perfect LLC set up before you can do that.

Next thing you know, your business might not be making money right now.

But guess what, when you have that great business idea and it does kick off, you have all the business credit, you have the education, you have everything already set up, so you're ahead.

You're ahead of the game a lot.

No, that's perfect. I appreciate that you answer my question.

Thank you, appreciate you frankly. All right, let's let's go. Let's let's do this. Let's go to dd. We coming to you, Didy. What's going on on?

Mute yourself you've been unmuted.

Hey, guys, good evening. I knew you were gonna call me as soon as I flipped over to my notes to take down notes.

One whose was just saying, perfect time.

It's a pleasure to be here. I'm excited at what you guys are doing. Is always very impressed, very appreciative. Like the other caller, you guys have really given me a community space. I was in nonprofits teaching financial literacy about ten years ago, and I felt like we were the only ones there. So it's relief to see you

Like?

Is it different?

Like business credit applications are in one category and business loan applications or in another, or it doesn't matter, like how does that work?

It's a great question.

I love these type of questions because it gets my brain thinking right, and it gets your obviously your brain is working. So just so you guys know, right, any auto loan, personal loan, mortgage inquiry, right, anything that has the word loan on it, la n anything that has associated with the loan. If anything that's typically done within the same category within thirty days thirty to forty five

Right.

So that's three separate auto loan, three separate inquiries. Okay, Because so every single credit card inquiry, no matter if it's personal or business, is gonna count as one. But any a loan inquiry in the same category within thirty to forty five days is gonna count as one. So even even with an auto loan company that you you know, you go to the dealership and they run your credit ten times, it doesn't affect your credit score ten times.

Okay, thank you so much. I appreciate it.

Thank you, guys, said, I get back to my notes. I appreciate you. All right, let's let's go to Christian.

We come to you.

You yourself, you've been immuted. What's going on Christian?

Hey, how you guys doing Christian?

Here?

Great question?

Actual you two questions and one is for Rashan and so for some of us that I've been grandfather, then we've been with Eyl from like just before COVID. Do the rates go up for us as well? Or does it Does it change?

And that's good, that's a good question. It stays the same. And that's just like a stock. That's just you know, people that got in early. They you know, so some people got in that ninety nine dollars for the entire year, and then every year it'll just be ninety nine dollars as long as they want to renew. So they renew that price at ninety nine dollars. So you know, that's

But whatever you whatever you pay, you lock in at. So whatever price you got, what price you in at.

I got in I think at two ninety nine something like that.

Yeah, and ninety nine, so yeah, now it's two thousand, you know, So yeah, there you have it.

Good investment, yeah, man, one of the best investments I haven't made now. The other questions for Jose was that Metro at event Fest. I also wanted to say thank you for the credit card. The American Express Play. I don't know if you remember, but it was like six cards that I applied for at the same time and it worked out.

Sot out to you and keep doing what you do.

I have a.

So I applied for a Chase card. Big mistake, and I think because one of my friends had told me, just do it. You get two hundred dollars off of flight we're going to Jamaica, and and I think I used that, spent about one thousand on it. The limit is about two grand, and now my credit score drop from eight twenty five to seven ninety.

How can I fix this?

Just paid off? I paid it off for it and it has the balance already showed on the report at zero.

No, this happened like five or six days ago, but I was traumatized.

I was like, how the hell you go from eight twenty five to seven ninety because of one stupid card that I didn't even need.

I'm gonna tell you why. Because the limit is two thousand, your balance is a thousand. So when that balance reported, even though the balance is only a thousand, you're at fifty percent utilizations.

To that card.

So as you pay it down and you paid it five or six days ago, it will eventually report at zero.

Now here's the thing, you know, Now with that card, the next trip you go on, use the business ams instead of the chase.

Oh yeah, oh yeah, oh yeah, never again, never again, never again.

Yeah.

And even in those situations too, Jose, and you can correct me. But if he has I'm sure some people are in that situation where they have a two thousand limit. Before you use it again, try to reach out and maybe increase the limit, right, so the utilization rate actually goes down. So when you spend a thousand, maybe your limit has been increased to five thousand and not a percentages in fifty.

You know what I'm saying, It's like at twenty right.

And the thing is, man, not even only before you use the card, but if you get a proved for a credit card and you say your credit score was over eight hundred and they only gave you two thousand dollars, what you want to do is pick up the phone, even if even if your credit is subpar, meaning like six hundred and six twenty six fifty. Anytime you guys get it proved for a credit card, call them up and say, hey, I got a proof for a two thousand dollars credit card. But if you look at my

Yeah, more trips to Jamaica, Christian.

Man, because I don't I don't fly. Yeah, thank you, thank you.

Appreciate you. All Right, let's get a few more questions if you can.

Let's let's do uh, let's go.

Ralph.

We're coming to you, Ralph, what's going on. I'm mute yourself. You've been unmuted. What's the deal?

Pete Solms, app appreciate you calling me.

Uh.

One, I'm an eu L erner. And two I joined the Credit Academy about I think last month in February, so I'm plugged in on both sides. Appreciate what you guys are doing doing for our people. Just this fine youal literacy is incredible. Questions for Jose Jose so I it was on his zoom earlier today. So I'm waiting for the link to sign up with the credit coach.

So one I would stay away from the Capitol one Spark card. If you already have several business credit cards with you know it sounds like you do. The reason why is because Capital one Spark also reports to the personal side, So that is a good credit card if you're just starting out with building business credit, and you're

Yes, that's correct, okay.

And it's a personal or a business.

No, it's business, okay.

So what you should do log into your American Express account online AmericanExpress dot com, not the app, look at whatever business credit cards you want, and when you apply with them like that, because you already have a relationship with American Express, you can typically apply for all the charge cards and two more revolving credit cards without running your credit at all. And I think that would be a better play for you if you're worried about them

Ah, got it, got it? Okay, got that.

That makes sense because the reason I want to avoid the personal now is in the process of buying the house, so I don't want to keep those inquirers down sop.

So they won't run your credit at all.

Man, if you do it that way, you just got to make sure you log into your account at American Experts dot com, which you're using him in password, and apply like that and they won't ask you for your social to just ask you for EI in business information and you'd be good to go.

Got it. Appreciate you guys.

Help appreciate your Wel you, sir. Let's get more and Jose before we get to the last question. Jose's teaching a class in a couple of weeks, so anybody that wasn't able to get their questions answered, make sure you tap into that class. And he actually teaches I think like three or four classes once a month. Yeah, once a month, yeah, credit class once a month.

Yeah.

He's actually a tenured professional to teach is a class regularly for Eyo University. So this stuff literally, they you know, get this all the time, and this is just one facet of it being talking about the real estatement, talking about the financial planning, the book club, all that stuff. So you know the value, Like I said, the retail price for Eyo University is two thousand dollars, but right

Like I said, we'll still run a sale.

It'll probably be fifty percent off, so they'll probably be a thousand dollars on Friday or after Friday.

But yeah, it's six ninety nine right now. That's what we did last time, and that we just never changed it. We just let it run for a whole month.

So I don't know, it sounds like it's like a good deal to me, But you know, if you're interested, click the link if you want to, if you want to be a part of it. But I mean, the information is priceless.

Candice, Hello, Hello, I see you already there. I have to tell you. I'm mute yourself. You got to you have the final question? What's going on?

Wow?

That's awesome.

Okay, So I've joined you guys, I can't remember back in scept remember, I think, and I started following you a following Jose and him five hundred, and you guys were talking about I remember trying to get credit cards and before my credit was like five ninety and today I got a new score from Experience seven eight.

Congratulations. I've never been seven.

Ever met congratulations fires in a chat for kenn this one time. Congratulations love it.

So my question I was, I was listening to someone and they were saying, there's a twenty four or five rule because what I was trying to do the other day I tried because my number, my scores had jumped up.

So do you think so the five twenty four rule typically applies to Chase.

That's the biggest one that I've seen it with, meaning that if you have like five or more open credit cards in the last twenty four months, that's typically like a Chase rule. But with Sam's Business, did you have you you had to provide a personal guarantee for that.

With the SAME's business, Candice, no, So with.

The Sam's Business, I tried to add it in my yeah. No, they didn't even ask.

Me for my personal yeah Sames, I'm saying Sam's Sam's.

Club, BJ's Costco. They should never ask you for your personal credit. So that has nothing to do with the personal credit side and has everything to do with the business credit.

So build your do you know you have the LLC and you how long have you had the LLC open and everything? It started building business credit.

I've had my LLC since.

December December, okay, So what you want to do is start building more business credit, right, Get nav dot com business Boost that will give you an automatic trade line for each bureau you know, build the regular accounts you line you're you're in e y L. So watch the videos that I did on the proper steps to building the business credit, get some gas cards, and then in like sixty days go back to Sam's Club, Bjy's Costco things like that and apply again and you should get approved.

Okay, all right, perfect, Thank you guys so much.

Thank you and congratulations on that seven hundred. That's life changing.

Yeah, I'm so excited.

Eazy Jose always a pleasure man.

Before we go, I want to I want to give you an opportunity to talk because I know a lot come of people have asked, like, you know, how can they contact you or different things of that nature.

So can you talk about that? Yeah? So what kind of services you provide? Stuff like that?

Yeah, no, no doubt man. I mean, thank you guys again, this is awesome. You know what I mean, flies when you're having fun. I didn't realize how you know. We've been on here our in forty minutes man, And I love answering questions. This is like what I love to do and ask people that sit there in my program.

We do this every week as well.

The things that we do guys is we help you with your personal and business credit. If you only want help with your personal credit, that's fine. If you want business credit help, that's fine, too. You know, our program is not deletion driven, meaning that you could be in our program six months, nine months, twelve months and not get any deletions. That's that's sometimes the part of credit repair and also building your credit. But we will teach you how to either settle that account, pay it off,

So every single course that EYL has ever thrown out there.

I have used the business credit card, and I think it's like two of them that I haven't bought yet, like the vending course and I think the trucking course.

Everything else.

I've bought it because it's there's power and education and you could use your credit for more than just buying supplies. You can use your credit to leverage more education and to help you enter rooms that you never thought possible.

Guys, So you know, like I said, my program is not a three month program.

Six month.

I'm not going to promise your credit score. I'm not gonna promise you any deletions, but I will promise you the access to.

The god credited academy where if you do the work and we help you do the work, you have credit coaches here in the US. We have we're gonna start doing, you know, tours and things like that. We're going to see our clients. But give me twelve months. Dedicate twelve months to me, and I promise that I've changed the trajectory of you and your life and your family as well.

You have it. Appreciate that, Jose. And once again Jose actually teaches monthly for Eyo University.

Very very good guy.

Actually has helped family members out, my family and members out, So definitely recommend him and his services for sure. And yeah, once again Eyo University. This is what we do every single week. Jose comes once a month, but we do everything. It's not like an investment club. It's not just real estate. It's everything, literally everything that we talk about your leisure. Everything from entrepreneurship to investing, to cryptocurrency, to real estate

I forgot about that.

So you get access to the home Buyers Blueprint, which is like ten hours of education every single thing that you need to know. That that alone is probably v buying one and two. Yeah, everything you need to know about how to buy home, how to rehab a home. It's like fifteen hours of information that's included with Ewyo

The replay will be.

On YouTube, and then we'll put it on podcast outlets for study Hall. That'll be out on Friday. So if you want to listen to it in your car, check it out on Friday on the podcast outlets and then this replay will be available on YouTube.

Yeah, make sure when you join that we have an orientation and so a lot of people, you know, when they start school, they're a new kid on the block, they don't know where to go, and so we have orientation.

Shout out to jam I know she's in here right now that she leads you through the process. Right. So we have over one hundred and fifty videos archive.

But they're section into your interests and so once you find your interests, not only you're gonna find videos there, but you're gonna find people who have like minds in that inside that space too. And so it's a space where you can actually ask questions and find people with similar backgrounds and similar interests. It might even be in a similar area, right, you might find people that live where you live that are interested in the things you are.

Yeah, that's it all right, guys, been real see you on the other side. Shout out to Andre Hatchitt. Appreciate you, brother.

Your love is love.

Y'all appreciate you, bro, Thank you guys.

Thanks everybody for the super chats. Also, we ain't get a chance to read it, but it's all love.

Oh yeah, shout to y'all.

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