Knowing how to build business credit could be the difference between starting your dream business or waiting on the sidelines. And while most people think that building business credit requires years of income, million-dollar revenue, or a personal connection with your local bank, Jack McColl is here to tell you otherwise. Jack has been able to unlock half a million dollars in business credit in record time through a simple system. He did this using means that EVERYONE has access to and is here today to teach you how to do the same.
Jack is a credit master, knowing the ins and outs of every credit score rating, travel credit card, business credit card, line of credit, and everything in between. He teaches some basic techniques in today’s show about how you can get your personal credit score to 700+ quickly and then use that to grow your business credit profile, allowing you to access 0% interest credit cards that can jumpstart your business when you’re low on cash. And even if you aren’t planning onbuilding a business anytime soon, Jack’s tips will help you get a better credit card, a lower mortgage rate, and easier access to lines of credit.
Jack also touches on the exact steps you need to follow to reach an 850 credit score and why the “no credit, no debt” line of thinking will hurt you later in life. He shares the best banks to get business credit from, which cards will help your score the most, and why you should always open a checking account BEFORE asking for a business line of credit. If you want to boost your score, build a business, or just travel for free using points, stick around for this episode.
In This Episode We Cover
How Jack scaled from $0 to $500K in business credit (and how you can too)
FICO vs. VantageScore and which credit score is the most important
Personal vs. business credit and how the two impact each other
0% interest credit cards and how to unlock them by building your business credit
Boosting your credit limits and the three cards to apply for to boost your credit profile
Lines of credit, SBA loans, and other options business owners have to draw funds from
Credit card hacking and how to use travel point cards to globetrot for free!
And So Much More!
Links from the Show
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Click here to check the full show notes: https://www.biggerpockets.com/blog/money-383
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