Tag: Always

Report into Dutch protections of 3 murder victims finds security services didn't always act on threat tips

A critical report into the protection of three murder victims, including a celebrated Dutch journalist gunned down in central Amsterdam, said Wednesday that security services in a “fragmented” protection system didn’t always act on tips about possible threats.

The conclusions highlighted flaws in a network involving police and prosecutors that is intended to offer protection to people facing threats ranging from stalkers to possible attacks by criminals and terrorists.

The report came following an 18-month government-commissioned investigation by the Dutch Safety Board into the slayings of crime reporter Peter R. de Vries, lawyer Derk Wiersum and the brother of a key witness in the trial of an alleged Dutch crime gang.

De Vries, who was shot on an Amsterdam street on July 21, 2021, and died nine days later acted as a confidential advisor to the witness. Wiersum, the witness’ lawyer, was gunned down on Sept. 18, 2019, outside his home in Amsterdam. The witness’ brother, identified only Reduan, was shot and killed March 29, 2018.

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The witness played a key role in the prosecution of Ridouan Taghi, who is accused by prosecutors of multiple murders in the violent Dutch criminal underworld. Judges are expected to deliver verdicts later this year in the trial of Taghi and several alleged accomplices.

The report said that “command of the surveillance and protection of the persons under threat was fragmented across national and regional organisations” and the protection service “did not receive all the information about the threat that was available to the investigation.”

It added that “signals” of possible threats from the victims “were not regarded as concrete threat information and therefore did not fit into the usual system.”

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Both Wiersum and De Vries had police surveillance at their homes. De Vries “was not willing to share his schedule to make it possible to organize surveillance for his arrivals and departures. He also made no use of the option to personally notify any high-risk moments,” the report said.

The brother of the witness “insisted on protection for members of his family. When the attack on his life took place, no specific security measures had yet been taken for him,” it added.

Justice Minister Dilan Yeşilgöz-Zegerius said in a reaction to the report that the government has made investments to beef up the security apparatus in recent years.

“The increased threat, specifically from organized crime, means that the number of people and objects that are intensively monitored and secured for a long period of time — sometimes even many years — has increased considerably,” she said in a statement.

Yeşilgöz-Zegerius said that “the person to be protected is now more central, and tailor-made security measures are being developed.”

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The True Story Behind Credit Card Stacking and Why It’s Not Always Bad

Credit card stacking is in the news lately.  Mostly, the news isn’t great. In fact, if you’re reading this, you likely know that. You may very well be thinking that this type of funding is a scam.

Is Credit Card Stacking Always Bad? 

credit card stacking

No, stacking credit cards is not always bad. In fact, a credit card stacking program can be a very useful tool for funding a business. It even works well for startups. You just have to know how to avoid the scams. 

What is Credit Card Stacking?

This type of funding involves applying for multiple credit cards at once. Then when you get approval, you have access to the balances on all of them. You can use the money to fund a business, even drawing cash if you need. 

There is no need for collateral. In fact, this is totally unsecured business financing. However, you do need a personal guarantee. That means you need a decent credit score. Usually, that is a personal credit score of 680 or above. 

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Is Credit Card Stacking a Scam?

No, in and of itself, this type of funding is not a scam. Still, there are scams like this out there. You need to know how to tell the difference between a scam and legitimate card stacking program to fund your business. 

Once you know the difference, you can take advantage of this funding option while protecting yourself and your business. 

About the Seed Capital Card Stacking Scandal

Let’s talk about the elephant in the room. If you do a Google search on “credit card stacking” you are going to see a lot about Seed Capital. They were running a card stacking scam, and the Federal Trade Commission put a stop to it. Here is how it went down.

First, Seed Capital did not tell companies how this funding would work. Borrowers did not realize they were applying for multiple credit cards. In addition, many times these were personal credit cards, and they had no idea. Furthermore, Seed was filling out the credit applications, not the client.

That’s not necessarily terrible if the client knows about it and has given formal permission, but Seed was also found to be lying about the income of the clients on the applications. In fact, sometimes income was inflated by as much as $100,000.

The result was that many clients were getting approval for multiple cards with very high limits. Again, all of this was without their knowledge.

But There Is More to the Seed Capital Story

Now, the rest of the story. That’s right, there’s more. Most clients found Seed when they looked into some sort of business training program. Behind the scenes, the program had a deal with Seed to use their credit card stacking program to finance the training package for the client. 

The client would realize they did not need to or could not make the cash outlay. The training company would offer financing and have the client apply. Then, they would send the info to Seed, who would apply for the credit cards as mentioned above. After that, Seed would let the training company know what the total limit was, and the client would be charged close to that amount, virtually maxing out multiple cards at once.

Not only that, but most clients felt the “training” was a scam itself, believing it not to be useful once they went through the program. Then, they were stuck with thousands of dollars of credit card debt, and a wrecked personal credit score due to high utilization ratios. Unfortunately, they did not have anything useful to show for it. 

Legit Card Stacking to Fund a Business

This is not how legit card stacking programs work. On the contrary, you can actually even do this to fund a startup.  It’s better if you have someone to help you. A professional can help you find the best card options and the lowest rates. 

One common practice is to find cards with 0% introductory rates. This allows for 0% interest, sometimes for over a year, and at least until the introductory rates run out. Credit Suite has a program like this called The Credit Line Hybrid.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

The Credit Line Hybrid

You need good credit or a credit partner with good credit to qualify for the Credit Line Hybrid. This is unsecured business financing like all credit card stacking, so there is no collateral requirement.  You can use the funds on anything for your business. 

For example: 

  • Real estate
  • Equipment
  • Working capital
  • Even startup expenses

There is no down payment necessary and no income documentation either. This is totally “no-doc” financing. Approval can range up to $150,000. 

The Credit Line Hybrid Requirements

How do you qualify for The Credit LIne Hybrid? You need a personal credit score of 680 or above or a credit partner that does. Other requirements include: 

  • No late payments for the past 24 months
  • 6 inquires or less in the past 6 months
  • No open collections or bankruptcies
  • At least 2 open credit cards with a $2,000 limit or higher
  • At least 1 ½ years good payment history
  • Utilization rate not higher than 40%
  • And no bankruptcies in the past 7 years

Benefits of The Credit Line Hybrid

Not having to provide financials is a big benefit.  Also, the minimum credit score of 680 is much less than what other types of financing require. Furthermore, you have the option to use a credit partner if you do not meet the minimum credit score.

Another huge plus is that this program can help build your business credit score, which increases the fundability of your business. This is because often the cards in the line report to the business credit reporting agencies.

How is The Credit Line Hybrid Different From the Scams

There are a number of differences between our program and the credit card stacking scams out there. First, you know exactly what is happening and how it works before you sign up for anything. We will never apply for credit cards without your knowledge.

Next, our program does not include inflating income in an effort to get higher limits. Finally, you are free to use the money how you choose.  We do not work with partners to provide funding for anything specific. We simply help you get the funding you need to grow your business the way you need to do it.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Top Tips to Avoid Credit Card Stacking Scams

First, if you are trying to purchase a product or service and they offer financing, ask the questions. Read the fine print, and make sure you know exactly where the funding is coming from. Also, always monitor your personal and business credit reports to ensure there are no unexpected accounts on them. 

In addition, work directly with a trusted company. Part of the problem with the Seed Capital fiasco was that the funding was for a specific service that the client could not afford to pay cash for.  They may not have even realized Seed Capital was involved at all. 

That means they never had a chance to research Seed on their own. When you go to the company directly, you can do your own research.  Looking at reviews and the Better Business Bureau can sometimes save you a lot of pain. 

When you work with Credit Suite directly, you not only get access to the funding, but we can help you find any other products or services that could help you grow your business even more.

Credit Card Stacking is a Legit Business Funding Option

Yet, you have to do it the right way. Don’t try to do it on your own.  Do your research and find a trusted company that can help. Always make sure you know what you are getting into.  

The post The True Story Behind Credit Card Stacking and Why It’s Not Always Bad appeared first on Credit Suite.

How To Use Business Credit Wisely to Help With Sound Cash Flow Management … So Your Cash Flow is Always Strong and Never a Headache

Cash flow management is essential to running a successful business.  This is true for a number of reasons. Some of the reasons are obvious, and some are more subtle.  

5 Steps to Building a Cash Pool for Better Cash Flow Management 

First, you need to understand exactly what cash flow is. Investopedia says:

“Cash flow is the net amount of cash and cash equivalents being transferred into and out of a business.”

But what does that mean practically for your business? Basically, cash flow relates to the actual, liquid cash flowing in and out of your business. Strong, positive cash flow allows you to have the funds you need ready and available. You can use them at any given time to do the things you need to do to run your business effectively and efficiently.  Why is this important? Because you need cash to: 

  • Pay the bills
  • Pay salaries
  • Buy supplies and stock 
  • To be able to take advantage of growth opportunities

None of these things are possible without cash.  You need a cash flow management strategy.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit. 

Step 1: Understand Profit is Not the Same as Cash

This is one of the most common misconceptions when it comes to cash flow management. Many think  if you have a strong bottom line, you have cash.  Some business owners are surprised when they find their business can be doing quite well, but they still struggle to pay the bills.  This is because sales do not automatically convert to cash. It can take time to collect payments from customers. Also, if you run a seasonal business, certain times of the year are going to find your business shorter on cash than others. Even non-seasonal businesses have times when they aren’t making as much money.

Step 2: Knowing Why Just Enough is Not Enough

It’s possible that you may have all the cash you need for day to day business operations, but you still need more. For example, if you  have an investment opportunity, like a bulk wholesale deal on inventory, or a growth opportunity, you need to be able to act fast. The more cash you have immediately available, the faster you can act on these opportunities with confidence. A sensible cash flow management system will take this into account. 

Step 3: Develop a Plan for Building a Cash Pool for Cash Flow Management

A cash pool can help you manage your cash flow effectively. It’s a way to make sure you have access to the cash you need, when you need it. A cash pool is an aggregate collection of three different types of cash.  

It includes cash on hand, cash available to spend on vendor accounts, and cash available to spend on business credit cards. How do you build a cash pool for your business? How do you do so and keep business expenses off your personal credit accounts? You need to build business credit. Using business credit to build a cash pool is key to cash flow management.

Cash Reserves and Vendor Accounts

Cash reserve is simply cash on hand. This is the money you have in your business bank accounts that you can spend. Vendor accounts are accounts that you have with vendors that allow your purchases on credit. These are typically net accounts rather than revolving. Net accounts have to be paid off completely within 30, 60, or 90 days, depending on what terms you get with that lender.

Cash Available on Business Credit Cards

This is the total of all available credit you have on business credit cards. Business credit cards can serve your business well in a number of ways. First, they can help protect your business by limiting exposure when making purchases online. This is because most credit card companies have fraud protocols. These protect you from having to pay for fraudulent charges on your account. 

In contrast, if you use a debit card connected to your business bank account and it gets hacked, you could easily lose all of your available cash with potentially very few options for recovery. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Step 4: Start the Process by Building a Fundable Foundation

It sounds easy, and essentially it is. However, you can’t just go out and apply for vendor accounts and business credit cards and expect to get credit that is only related to your business and does not affect your personal credit report. 

This is the tricky part. There are specific steps that you have to take in a specific order to build a separate business credit profile and score. It starts with how your business is set up. It has to have a foundation of fundability. Then, you have to get accounts reporting initially, which can get interesting. 

If your business isn’t set up right and you don’t apply for the right types of accounts in the beginning, you will be denied every time. 

How to Build a Fundable Foundation

The first step is to make sure your business has a fundable foundation. The includes a number of things such as:

  • Having a physical business address where you get mail
  • A P.O. Box or something similar will not work
  • You need to incorporate as an LLC, S-corp, or corporation
  • An EIN is essential  (get yours from the IRS)
  • A D-U-N-S number from Dun & Bradstreet
  • You need a separate, dedicated business bank account

This is only the beginning, but it is a good start. 

5: Get Accounts That Report

Once you have a fundable foundation, you can start applying for business accounts. The key is, you have to start small by applying with starter vendors first. These are vendors that will not do a personal or business credit check. Rather, they will extend net terms to your business based on other factors.

These factors may include:

  • Time in business
  • Revenue
  • Average balance in business bank account
  • And a lot of other things

Vendors may look at one, all, or any combination of these factors to verify the creditworthiness of your business. Then, they will report your payment on these accounts to the business credit reporting agencies. 

This brings up another issue. Unlike personal credit accounts where pretty much all creditors report your payment to your personal credit profile, only about 7% of business credit accounts actually report payments.  Of course, the other 93% will not hesitate to report defaulting payments. 

As a result, it can be difficult to find vendors that will both extend credit without a credit check and report payments. They do not make this information easy to find. Still, having accounts that report is vital to building a strong business credit score. Without that, you will not be able to get the accounts you need to build your cash flow pool.

Getting Started

We have a list of vendors that we know do both of these things. They include vendors like Uline and Grainger, among many more. Start building your credit pool with these and other starter vendors by applying for accounts, and buy things like packaging, cleaning products, and office supplies that you will use in the course of your business anyway. 

Once you get enough of these accounts reporting, you will be able to apply for more vendor accounts and business credit cards and get approval.

Of course, you need more than just a few vendor accounts to build a strong business credit score.  The next steps include applying for credit with increasingly harder to meet requirements. If you do things in the right order, you will have no problem getting approval.  That is, assuming you handle all accounts responsibly.

You can apply for accounts like Quill and Office Depot that are a little harder to get, but apply with starter vendors first.  That way, you’ll be closer to meeting their requirements. 

Keep the Ball Rolling

After that, you just have to keep the ball rolling.  You should be well on your way to building your cash flow pool. You can apply for higher limit cards with more rewards. Remember to keep using all of your accounts responsibly, as It does no good to build a cash flow pool if you have no cash available on any of your accounts. 

Bonus: A Top Secret Tip to Help You Get Started

It is not easy to start the ball rolling on your own. It is much faster, cheaper, and easier in the long run to get expert help to build your cash flow pool. A business credit expert can help you evaluate your current fundability. Then, they can get you on the right path to building and improving fundability if necessary. Furthermore, they can point you toward those initial business credit accounts that will open the door to many more, 

With a business credit expert, you will not waste time applying for accounts you do not qualify for. You won’t waste time and money on accounts that do not report to the business credit reporting agencies. You will know exactly what step you are on and what needs to be done to move on to the next step in the process, so you can build your cash flow pool effectively and efficiently.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Once your business credit is strong, a business credit expert can guide you toward even more accounts that may be great additions to your specific credit pool.  These may not be accounts that report, but rather may be more suitable for the type of business you run. Once your business credit profile is strong, you can use non-reporting accounts to continue to grow your business long into the future. 

What Does This Mean for Cash Flow Management? 

It means you can run your business without worrying about cash flow gaps. You can take advantage of wholesale deals when they come along.  It will be possible to apply for larger jobs, knowing you can get the tools and equipment you need to get the job done without depleting cash reserves.

You will be able to quickly take advantage of investment and growth opportunities with confidence, knowing you have the cash available to do what you need to do.  In addition, you can limit your exposure to fraudulent charges when making online purchases. That is sensible cash flow management.

The post How To Use Business Credit Wisely to Help With Sound Cash Flow Management … So Your Cash Flow is Always Strong and Never a Headache appeared first on Credit Suite.