Author: William Logan

Woman reveals 'very psycho behavior' to land taken man: 'Take this to the grave'

A woman revealed “very psycho behavior” she engaged in order to land her crush while he was dating another girl in a video that has been viewed more than 6 million times. 

“So the craziest thing that I ever did was very psycho behavior. And I’m not recommending it to anybody because it was not chill whatsoever,” said Nicole (@diariesof4fatgirl). 

Nicole described how she impersonated her crush’s girlfriend on Tinder, and then matched with people they had gone to high school with. She believed that by doing this, people would likely clue her crush in on the alleged cheating behavior. 

“I created a fake Tinder account for my crush’s significant other. And I had it up for a month, and I was matching with people that went to our school. And so eventually I accumulated maybe like 10 to 15 matches,” she said.

MAN DISCOVERS GIRLFRIEND PUBLICLY SHAMED HIM ONLINE FOR BEING ‘BROKE’: ‘REALLY SUCKS’

“A few of them finally reached out to my crush and was just like, ‘Hey, isn’t this your significant other? Why are they on Tinder?’ 

Nicole’s crush eventually confided in her, asking what he should do.

“And obviously I was like, break up with them,” Nicole said. “And yeah, they broke up.”

Nicole and her crush then started dating a few months later, but she had never told him about how they ended up on a rendezvous.

WOMAN REVEALS ‘GENIUS’ FULL-SCALE INVESTIGATION INTO BOYFRIEND’S CHEATING: ‘IT’S BRILLIANT WORK BY ME’

“I never told them about that. But, you know, we broke up, but I never told them that story. And so if you’re watching. ‘Hey, babe. Sorry about that,’” Nicole said.

In another video, Nicole said she would do it again. “What I did was bad, yes. But would I do it again, yes.”

She then claimed her crush’s ex was a “cheater.”

“I didn’t have proof, so I made some. I expedited the process. They were going to break up eventually.”

Comments flooded in denouncing the unchaste behavior. 

“Ladies, DO NOT takes notes,” a comment with 62,000 likes said. 

“You needed to take this to the grave,” a comment with 145,000 likes said.

SINGLE MAN ENRAGES GIRL AFTER HE ASKS HER TO PAY FOR DATE: ‘FEMINIST UNTIL IT’S TIME TO SPLIT THE BILL’

“You couldn’t waterboard this info out of me,” a comment with 82,000 likes said. 

“That’s low-key evil,” a comment with 102,000 likes said. “That’s actually evil,” another comment with 138,000 likes said. 

“Girl I’m actually scared of you,” a comment with 113,000 likes said.

“How are you not consumed by guilt?” a comment with 49,000 likes said. 

“We need to start bringing back shame because what did I just hear?” a comment with 40,000 likes said. 

Nicole responded, “A win is a win.”

Even Tinder’s official account responded with disapproval.

“Oh that’s not…” Tinder said, referring to Kelly Osbourne’s gaffe on “The View.”

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Charityvest (YC S20) Is Hiring Lead UX and Brand Designer

Article URL: https://apply.workable.com/charityvest/j/37123CA4DC/

Comments URL: https://news.ycombinator.com/item?id=32191015

Points: 1

# Comments: 0

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New comment by earlachromatic in "Ask HN: Freelancer? Seeking freelancer? (April 2022)"

SEEKING WORK | Remote

Resume: https://www.jacobmilhorn.com/Jacob%20Milhorn%20Resume%202022…

Email: jacob.milhorn@gmail.com

Personal site: https://www.jacobmilhorn.com

Technologies: HTML5, CSS3 and Sass, Modern JavaScript, TypeScript, Vue 3, Node, REST API Development and Consumption, 11ty, Puppeteer, Apify, Web Component, JAMstack and Headless Architecture, Islands Architecture, Static Site Generation, Search Engine Optimization

I am a value-driven, versatile engineer with a proven track record of helping businesses fully leverage the modern web to improve their bottom line. Interested in the intersection of creativity, technology, and business and always hungry to learn.

How to Choose a Business Partner

Are you interested in starting a business or growing your existing business? Bringing on a business partner can offer several advantages. These include expertise in different business areas, strategic connections and more capital.

But select the wrong partner and you could be setting yourself up for years of personality conflicts and lawsuits. And ultimately, the end of your business.

Before you even think of approaching a potential business partner, consider whether you really need one. Then, get clear on the type of person who will be a good match for your own skills, values and goals. It’s much harder to undo a business partnership than it is to create one. Here’s what you should know before taking on a business partner.

What does a business partnership entail?

A partnership is a relationship between two or more people who carry on a business together. For tax purposes, partnerships are known as pass-through businesses. This means the partnership doesn’t pay taxes. Rather, partnership income or losses are passed through to owners. The owners then pay taxes on their share of profits on their individual tax returns.

Partnerships are the second most common type of pass-through business in the U.S., just behind sole proprietorships. That popularity stems, at least in part, from the ease of creating a partnership.

According to SCORE, a nationwide network of volunteer business mentors, partnerships aren’t a legal business entity. In some cases, they don’t have to be registered with the state. This is unlike corporations and limited liability companies (LLCs) do. Essentially, if you go into business with another person without incorporating, you’re in a partnership by default.

Despite that informality, forming a business partnership isn’t a decision to take lightly. Even if you don’t have a formal agreement, you have basic legal responsibilities to other members of the partnership. Such as:

  • Sharing planning and decision-making rights
  • Maintaining appropriate financial records
  • Sharing business profits and losses based on each partner’s investment
  • Compensating partners for expenses they pay on behalf of the business
  • Getting your partner’s consent before bringing on extra partners
  • Returning your partner’s original capital contribution should they to leave the partnership

How to identify a solid business partner

Choosing a business partner is like choosing a spouse. You’re trusting this person with your financial investment and your future. That’s why it’s so important to choose your partner wisely.

So what kind of criteria should you look for? Consider these six questions.

What are your goals?

What happens if you want to grow your business internationally, but your partner wants to keep it small and local? Not being on the same page about target market, investments and long-term strategy can lead to a lot of unnecessary conflicts. You and your partner should have similar goals for the future of the business.

How are their finances?

Unless you already have an open relationship with your potential partner, you likely won’t know much oft their financial history. Going into business with someone with poor credit or shady financial dealings can get you into trouble. Consider having a potential partner submit to a background check and credit check.

Do they have complementary skills?

People tend to want to do business with other people who have similar temperaments, skill sets and backgrounds. While this can be a good basis for friendship, it’s not always the best for a business partnership.

Look for a partner who is better than you at certain things. For example, if you’re the whiz with numbers, you might need someone who is a great communicator or leader. But, if your focus is big, long-term strategies, you might need a partner with excellent attention to detail. Bringing complementary skills together makes your partnership greater than the sum of its parts.

Do you have a personal relationship?

Partnering with your spouse, sibling or best friend might seem like a great idea to start. But proceed with caution when forming a business with someone with whom you already have a personal relationship.

According to a PWC survey,  23% of owners and executives in a family-owned business say they’ve never had a disagreement with their family members. Meanwhile, disagreements are a regular occurrence for 7% of family-owned businesses.

Close relationships can suffer if the business fails due to conflict. Which many do — data shows 20% fail in the first year alone. This isn’t to say that you should never do business with friends and family. But if you do, make sure you have a written partnership agreement. Outline responsibilities and how you’ll resolve potential conflicts.

Have you considered a trial run?

Until you’re actually in business with someone, it can be tough to understand their work style or how they’ll react in difficult situations. If you don’t have any experience working with your potential partner, consider doing a trial run. You could work on a project together or hire them as a consultant.

This allows you to see how well they communicate. See if they pull their weight and work through challenges. If it goes well, you can formalize your business partnership. If it doesn’t go well, you have a chance to walk away sooner rather than later.

Do you have a written partnership agreement?

No matter whom you choose as your business partner, you need a written partnership agreement. This agreement spells out the rules for how the partners will manage their business. It includes responsibilities, investments, profits and losses, company management and conflict resolution. It can also address what happens when one partner wants to sell or leave the business.

Don’t skip the formal agreement because you’re starting a business with family or afraid of hurting someone’s feelings. A partnership agreement is always important. But it can be even more crucial when you’re starting a business with a friend or family member. Plus, a well-thought-out agreement can help lessen misunderstandings and preserve your relationship.

Each state has its own laws governing formal business partnerships. So it’s a good idea to work with an attorney who specializes in contract law. They can help you create a custom (and legally enforceable) partnership agreement. 

Business Partner

Of course, hiring an attorney costs more than downloading a partnership agreement template you might find online. But a well-drafted agreement can protect your investment, efficiently resolve disputes. And it saves you tens of thousands of dollars in legal fees later.

Janet Berry-Johnson, guest blogger and author of this post.

 

 

 

The post How to Choose a Business Partner appeared first on Credit Suite.

The Surprise that Makes Recommended Vendors for Business Credit Different

When we talk about recommended vendors for business credit, there are several questions that pop up. First, what exactly do we mean by vendors? Then, what makes some vendors recommended for business credit, and others not?  After that, who are these recommended vendors and how do you find them?  Let’s find out.

What Do We Mean by Vendors

This is probably the best place to start. When using the term “credit from vendors,” we are talking about credit from companies that are not financial in nature, like banks and other credit unions. Rather, their focus is on retail, and they extend net terms on invoices to customers as a courtesy.

This means customers have either 30, 60, 90, or however many days the net terms state to pay in full.  It’s different from a credit card because it is not revolving credit.  So, when we talk about vendors, this is not a card that you apply for. This is a retail company that sells products you can use in your business, then you do not have to pay the invoice immediately.

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

What are Vendors for Business Credit?

Don’t a lot of vendors offer net terms?  What makes them so special? Well, there is a small subset of vendors that we call starter vendors. Starter vendors do two things that not a lot of vendors do.

First, they will extend net terms to your business without a credit check.  That’s not to say that they do not have standards. They will not give net terms to just anyone. However, they will consider other factors besides credit score.  For example, they may take into consideration:

  • Current relationship with the customer
  • Time in business
  • Average balance in business bank account
  • Annual income
  • And more

But that’s not all.  Getting net terms without a credit check is great, but it does nothing to build your business credit score if the payments do not show up on your business credit report. True starter vendors will also report the payment you make to the business credit reporting agencies.  Again, doesn’t sound like a big deal, right? That changes when you realize that only 7% of companies that extend credit of any type to businesses report positive payment history to business credit reports.  A lot more will report negative payment history, but that does not help build a strong business credit score.

Finding Vendors for Business Credit

Vendors do not typically make it obvious if they report or who they report to. If you call, you may or may not get to talk to the right person to ask. You’ll likely be on hold for a long time, and once you get to someone they may or may not tell you.

One option is to just apply for vendor accounts and hope you get approval. Then monitor your business credit report to see if they are reporting. However, this trial and error method will take a lot of time and will likely cause a serious amount of frustration

It will take away from you doing what you need to be doing, which is running your business. Yet, it doesn’t have to be this way. There is a better option. A business credit specialist can help you find vendors that you qualify for, and that will report your on-time payment, not just late or missed payments.

They know who to talk to, what questions to ask, and the language to use to get the answers you need. This alone saves you a huge amount of time and frustration.   You not only avoid applying for accounts that you do not yet qualify for, but you also find those accounts that will actually help you build your business credit score.

Our business credit specialists have a list of starter vendors that they already work with. This list is always changing, as vendors and lenders are always changing their policies.

Also, it takes more than 3 or 4 vendors to build a strong enough score to move on to the next level of credit. Our specialists work with many vendors that can help you get things going. Here is a sample of some recommended vendors for business credit.

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

Grainger Industrial Supply

One of the first vendors for business credit business owners find out about is Grainger.  They sell hardware, power tools, pumps and more. They also do fleet maintenance, and they report to Dun and Bradstreet. If a business doesn’t have a credit score already,they will want to see additional documents like accounts payable, income statement, balance sheet, etc.

To qualify, you need:

  • To be an entity in good standing with Secretary of State
  • EIN number with IRS
  • Business address (matching everywhere)
  • D-U-N-S number
  • Business License (if applicable)
  • Separate, dedicated business bank account
  • To be registered to Secretary of State (SOS) for at least 60 days

Marathon

Marathon Petroleum Company provides transportation fuels, asphalt, and specialty products throughout the United States. The products support commercial and industrial, as well as retail operations. They report to Experiand and  Dun & Bradstreet.

To qualify, you need:

  • To be in good standing with the Secretary of State
  • An EIN number with IRS
  • A Business address- matching everywhere.
  • D-U-N-S number
  • Business license (if applicable)
  • A business bank account
  • Business phone number listed on 411

Your SSN is required for informational purposes only. You can give a $500 deposit instead of using a personal guarantee, if you have been in business less than a year.

Supply Works

Supply Works is a part of Home Depot. They offer facility maintenance supplies. It’s important to know that they do not accept virtual addresses, so you will need to use your home address if you do not have a brick and mortar location. They report to Experian.

To qualify, you need:

  • To be in good standing with Secretary of State
  • EIN number with IRS
  • Business address (matching everywhere)
  • D-U-N-S number
  • Business License (if applicable)
  • Business Bank account
  • Trade/Bank references
  • There is no minimal time in business requirement

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

Beyond Recommended Vendors for Business Credit: What’s Next

These vendors are great for getting started with building a business credit score. However, a good business credit specialist won’t stop there. They can guide you to a system that will help you through the business credit building process, from establishing your business credit profile to finding initial accounts, all the way through knowing which accounts to apply for next that you actually qualify to get.

For example, once you have your established business credit profile and have some initial accounts reporting, you may think you are done.  Those reported payments start building your credit score, and all you have to do is keep paying.  That’s not quite how it works.

First, there aren’t that many starter vendors out there. You are going to need credit from someone else eventually.  But, applying for accounts before your business credit profile is ready for them wastes more time, more money, and causes more frustration.

For example, some retailers will extend revolving credit rather than net terms after you have 5 or more initial accounts reporting. Some need to see a longer and larger credit history.  A business credit specialist can help you with a program to guide you in knowing which accounts you’re ready to apply for, and when.

How to Use Vendors for Business Credit Wisely

Here’s the thing, it’s not all about business credit when it comes to vendors.  For a well rounded credit portfolio, you are going to need to use all vendor accounts wisely.  You may need credit with a vendor that does not report.  But, to get approval, you’ll need to have a strong business credit profile.

You also need to use all vendor credit wisely.  When you are working toward building business credit, you are limited on which vendor accounts you can get approval for. Then, you are even further limited on which vendors will help you build your business credit score.

But do not make the mistake of thinking that means you need to buy things you don’t need because these are the only vendors you can get that will help your score. Use these vendors to purchase general items all businesses need, just until you get to the point you need to be. They may or may not offer products specifically for your business type. But, they most will offer fuel, office supplies, cleaning products and more. These are things all businesses can use.

Advanced Vendors

Building business credit is the goal, and starter vendors are a necessary part of that. Still, the end game is building and growing your business. A strong business credit profile is one tool to help you do that.  It’s job is to  help you get credit with any vendor you need, whether they report or not.  We call these advanced vendors.

Consider this example. Imagine you need to buy inventory for your business. However, your cash flow isn’t yet where it needs to be. Using an inventory supplier that will extend net terms will allow you to purchase the inventory you need. You can pay the vendor after you sell the inventory. This is just one very general example, but you get the point.

Recommended Vendors for Business Credit Are Important, But So Are Other Vendors

Both types of vendors, reporting and non reporting, are necessary for building and running a strong business.

In fact, there are a lot of vendors out there that many do not even know offer business accounts. They can help your business grow and thrive, but you have to know they exist. This is another way a business credit expert can help you save a lot of time and frustration.

A good business credit specialist will help you access the vendors your business needs to grow. They can help you determine when you qualify for these vendors, and guide you in the right direction so that you reach the required qualifications as quickly as possible. Because when it comes to running your business and managing cash flow, there is no time to waste.

The post The Surprise that Makes Recommended Vendors for Business Credit Different appeared first on Credit Suite.

Rock Solid: You Can Apply for a Business Credit Card with Bad Credit in a Recession

Apply for a Business Credit Card with Bad Credit in a Recession the Foolproof Way

Do you want to apply for a business credit card with bad credit in a recession which you think will drag you down? Not to worry. And that is still true despite the emergence of COVID-19.

According to the SBA, business credit card limits are 10 – 100 times those of personal cards! This shows you can get a lot more cash with business credit.

And it also means you can have personal credit cards at retail stores, and now have an additional card at the same shops for your business. And you won’t need collateral, cash flow, or financial information to get company credit.

Apply for a Business Credit Card with Bad Credit in a Recession

Brex Card for Startups

Take a look at the Brex Card for Startups. It has no annual fee.

You will not need to provide your Social Security number to apply. And you will not need to provide a personal guarantee. They will take your EIN.

Nonetheless, they do not accept every industry.

Also, there are some industries they will not work with, and others where they want more paperwork. For a list, go here: https://brex.com/legal/prohibited_activities/.

To determine creditworthiness, Brex checks a business’s cash balance, spending patterns, and investors.

You can get 7x points on rideshare. Get 4x on Brex Travel. Also, get triple points on restaurants. And get double points on recurring software payments. Get 1x points on everything else.

You can have bad credit scores (even a 300 FICO) to qualify.

Find it here: https://brex.com/lp/startups-higher-limits/

Check out how our reliable process will help your business get the best business credit cards, even during a recession.

Apply for a Business Credit Card with Bad Credit in a Recession – Fair Credit? No Problem!

Capital One® Spark® Classic for Business

Check out the Capital One® Spark® Classic for Business. It has no annual fee. There is no introductory APR offer. The regular APR is a variable 24.49%. You can earn unlimited 1% cash back on every purchase for your business, with no minimum to redeem.

While this card is within reach if you have average credit scores, beware of the APR. Yet if you can pay in a timely manner, and completely, then it’s a bargain.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Apply for a Business Credit Card with Bad Credit in a Recession with a 0% Introductory APR – Pay Zero!

Blue Business® Plus Credit Card from American Express

Check out the Blue Business® Plus Credit Card from American Express. It has no yearly fee. There is a 0% introductory APR for the first one year. Afterwards, the APR is a variable 14.74 – 20.74%.

Get double Membership Rewards® points on everyday company purchases like office supplies or client suppers for the first $50,000 spent per year. Get 1 point per dollar afterwards.

You will need great to exceptional credit to qualify.

Find it here: https://creditcard.americanexpress.com/d/bluebusinessplus-credit-card/

American Express® Blue Business Cash Card

Also take a look at the American Express® Blue Business Cash Card. Note: the American Express® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. However its rewards are in cash instead of points.

Get 2% cash back on all qualified purchases on up to $50,000 per calendar year. After that get 1%.

It has no yearly fee. There is a 0% introductory APR for the initial one year. Afterwards, the APR is a variable 14.74 – 20.74%.

You will need great to exceptional credit scores to qualify.Business Credit Card with Bad Credit in a Recession Credit Suite

Find it here: https://creditcard.americanexpress.com/d/business-bluecash-credit-card/

Apply for a Business Credit Card with Bad Credit in a Recession and Even Get Luxurious Travel Points

Flat-rate Travel Rewards

Capital One® Spark® Miles for Business

Have a look at the Capital One® Spark® Miles for Business. It has an introductory annual fee of $0 for the first year, which after that rises to $95. The regular APR is 18.49%, variable due to the prime rate. There is no introductory annual percentage rate. Pay no transfer fees. Late fees go up to $39.

This card is fantastic for travel if your expenditures do not fall into common bonus categories. You can get unlimited double miles on all purchases, with no limits. Earn 5x miles on rental cars and hotels if you book via Capital One Travel.

Get an initial bonus of 50,000 miles. That’s the same as $500 in travel. Yet you only get it if you spend $4,500 in the first 3 months from account opening. There is no foreign transaction fee. You will need a great to excellent FICO rating to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-miles/

Bonus Travel Categories with a Sign-Up Offer

Ink Business Preferred℠ Credit Card

For a terrific sign-up offer and bonus categories, have a look at the Ink Business Preferred℠ Credit Card.

Pay an annual fee of $95. Regular APR is 17.49 – 22.49%, variable. There is no introductory APR offer.

Get 100,000 bonus points after spending $15,000 in the initial 3 months after account opening. This works out to $1,250 towards travel rewards if you redeem through Chase Ultimate Rewards.

Get 3 points per dollar of the first $150,000 you spend with this card. So this is for purchases on travel, shipping, internet, cable, and phone services. Plus it includes advertising purchases made with social media sites and search engines each account anniversary year.

You can get 25% more in travel redemption when you redeem for travel with Chase Ultimate Rewards. You will need a great to exceptional FICO score to qualify.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/business-preferred

No Yearly Fee

Bank of America® Business Advantage Travel Rewards World MasterCard® credit card

For no annual fee while still getting travel rewards, have a look at this card from Bank of America. It has no annual fee and a 0% introductory APR for purchases during the initial 9 billing cycles. After that, its regular APR is 13.74 – 23.74% variable.

You can earn 30,000 bonus points when you make a minimum of $3,000 in net purchases. So this is within 90 days of your account opening. You can redeem these points for a $300 statement credit towards travel purchases.

Earn unlimited 1.5 points for each $1 you spend on all purchases, everywhere, every time. And this is no matter how much you spend.

Also get 3 points per every dollar spent when you reserve your travel (car, hotel, airline) with the Bank of America® Travel Center. There is no limit to the number of points you can earn and points do not expire.

You will need excellent credit to get this one (as in, 700s or better).

Find it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/

Hotel Credit Card

Marriott Bonvoy Business™ American Express® Card

Take a look at the Marriott Bonvoy Business™ Card from American Express. It has a yearly fee of $125. There is no introductory APR offer. The regular APR is a variable 17.24 – 26.24%. You will need good to outstanding credit scores to get this card.

Points

You can get 75,000 Marriott Bonvoy points after using your card to make purchases of $3,000 in the initial three months. Get 6x the points for qualified purchases at participating Marriott Bonvoy hotels. You can get 4x the points at United States restaurants and gasoline stations. And you can get 4x the points on wireless telephone services purchased directly from US providers and on US purchases for shipping.

Get double points on all other eligible purchases.

Rewards

Plus, you get a free night each year after your card anniversary. And you can earn another free night after you spend $60,000 on your card in a calendar year.

You get free Marriott Bonvoy Silver Elite status with your Card. Plus, spend $35,000 on eligible purchases in a calendar year and earn an upgrade to Marriott Bonvoy Gold Elite status through the end of the next calendar year.

Plus, each calendar year you can get credit for 15 nights towards the next level of Marriott Bonvoy Elite status.

Find it here: https://creditcard.americanexpress.com/d/bonvoy-business/

Apply for a Business Credit Card with Bad Credit in a Recession and Pay No Annual Fee

No Annual Fee/Flat Rate Cash Back

Ink Business Unlimited℠ Credit Card

Check out the Ink Business Unlimited℠ Credit Card. Beyond no yearly fee, get an introductory 0% APR for the first year. After that, the APR is a variable 14.74 – 20.74%.

You can get unlimited 1.5% Cash Back rewards on every purchase made for your business. And get $500 bonus cash back after spending $3,000 in the first 3 months from account opening. You can redeem your rewards for cash back, gift cards, travel and more using Chase Ultimate Rewards®. You will need excellent credit scores to qualify for this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/unlimited

Apply for a Business Credit Card with Bad Credit in a Recession and Get Jackpot Rewards That Never Expire

Capital One® Spark® Cash Select for Business

Check out the Capital One® Spark® Cash Select for Business. It has no annual fee. You can get 1.5% cash back on every purchase. There is no limit on the cash back you can earn. And earn a one-time $200 cash bonus once you spend $3,000 on purchases in the first 3 months. Rewards never expire.

Pay a 0% introductory APR for 9 months. Then pay 14.49% – 22.49% variable APR afterwards.

You will need great to excellent credit scores to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/

Check out how our reliable process will help your business get the best business credit cards, even during a recession.

Apply for a Business Credit Card with Bad Credit in a Recession and Get Cash Back

Flat-Rate Rewards

Capital One ® Spark® Cash for Business

Check out the Capital One® Spark® Cash for Business. It has an introductory $0 annual fee for the initial year. After that, this card costs $95 each year. There is no introductory APR offer. The regular APR is a variable 18.49%.

You can get a $500 one-time cash bonus after spending $4,000 in the initial 3 months from account opening. Get unlimited 2% cash back. Redeem any time without any minimums.

You will need great to exceptional credit to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash/

Flat-Rate Rewards and No Yearly Fee

Discover it® Business Card

Check out the Discover it® Business Card. It has no annual fee. There is an introductory APR of 0% on purchases for twelve months. After that the regular APR is a variable 14.49 – 22.49%.

Get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimum spend requirement.

You can download transactions| conveniently to Quicken, QuickBooks, and Excel. Note: you will need good to outstanding credit scores to get approval for this card.

https://www.discover.com/credit-cards/business/

Bonus Categories

Ink Business Cash℠ Credit Card

Have a look at the Ink Business Cash℠ Credit Card. It has no annual fee. There is a 0% introductory APR for the first year. After that, the APR is a variable 14.74 – 20.74%. You can get a $500 one-time cash bonus after spending $3,000 in the initial three months from account opening.

You can get 5% cash back on the initial $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.

Get 2% cash back on the initial $25,000 spent in combined purchases at filling stations and restaurants each account anniversary year. Get 1% cash back on all other purchases. There is no limitation to the amount you can earn.

You will need outstanding credit scores to get this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/cash?iCELL=61GF

Boosted Cash Back Categories

Bank of America® Business Advantage Cash Rewards MasterCard® credit card

Take a look at the Bank of America® Business Advantage Cash Rewards MasterCard® credit card. Get an 0% introductory APR for the first 9 billing cycles of the account. After that, the APR is 13.74% – 23.74% variable. There is no annual fee. You can get a $300 statement credit offer.

Get 3% cash back in the category of your choice. So these are gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Get 2% cash back on dining. So this is for the first $50,000 in combined choice category/dining purchases each calendar year. After that earn 1% after, with no limits.

You will need superb credit scores to qualify.

Find it here: https://promo.bankofamerica.com/smallbusinesscards2/

Check out how our reliable process will help your business get the best business credit cards, even during a recession.

Apply for a Business Credit Card with Bad Credit in a Recession with Flexible Financing

The Plum Card® from American Express

Check out the Plum Card® from American Express. It has an initial annual fee of $0 for the first year. After that, pay $250 per year.

Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.

You will need good to exceptional credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/the-plum-card-business-charge-card/

The Perfect Way to Apply for a Business Credit Card with Bad Credit in a Recession

Your absolute best way to apply for a business credit card with bad credit in a recession will hinge on your credit history and scores.

Only you can select which features you want and need. So make sure to do your homework. What is excellent for you could be catastrophic for others.

And, as always, make sure to develop credit in the recommended order for the best, speediest benefits. The COVID-19 situation won’t last forever.

The post Rock Solid: You Can Apply for a Business Credit Card with Bad Credit in a Recession appeared first on Credit Suite.

How to Rock your Business Bank Credit Score in a Recession

Rock Your Business Bank Credit Score in a Recession

What’s your business bank credit score in a recession?

Before going any further, do you know the difference between bank credit and business credit? Business credit is the full and complete amount of money that your small business can get from all manner of creditors. That means the credit unions,  credit card companies, and leasing companies. And it means any credit your small business can get from suppliers, under what is called trade credit or vendor credit or trade lines. Your bank credit score, though, is a touch different.

Bank credit, on the other hand, is the full amount of borrowing capacity which a small business can get from the banking system only. Hence your bank credit score, of course, is the measurement of this capacity to borrow.

Your Business Bank Credit Score in a Recession, Explained

A small business can get more business credit rapidly, so long as it has at least one bank reference and an average daily account balance of at least $10,000 for the most recent three month time period. This set up will yield a bank rating of a Low-5. So this means it is an Adjusted Debt Balance of from $5,000 to $30,000.

A lower rating, like a High-4, or balance of $7,000 to $9,999 will not automatically reject the small business’s loan application. However, it will slow down the approval process.

Your Business Bank Credit Score in a Recession, Defined

A bank credit rating is the average minimum balance as maintained in a business bank account over a three month long period. Hence a $10,000 balance will rate as a Low-5, a $5,000 balance will rate as a Mid-4, and a $999 balance will rate as a High-3, etc.

Goals for Your Business Bank Credit Score in a Recession

A small business’s chief goal should always be to maintain a minimum Low-5 bank rating for at least three months. Hence that means  an average $10,000 balance.

This is because, without at least a Low-5 rating, the majority of banks will operate under the assumption that the business has little to no ability to repay a loan or a business line of credit.

One thing to keep in mind – you will never actually see this number. The bank will just keep this number in its back pocket.

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business during a recession.

The Bank Credit Score Rating Ranges

The numbers work out to the following ranges:

  • High-5 – account balance of $70,000-99,999
  • Mid-5 – account balance of $40,000-69,999
  • Low-5 – balance of $10,000-39,000
  • High-4 – 7,000-9,999
  • Mid-4 – $4,000-6,999
  • Low-4 – $1,000-3,999

Do not forget, your small business needs to be at the Low-5 level bank score or better.

Rocking Your Business Bank Credit Score in a Recession

It should be clear that the thrust behind bank credit scores is to show proof that your small business can pay back its financial obligations in an expeditious manner. Therefore, yes, you will need to maintain a minimum balance for at least three months. Every cycle is based on the balance rating during the previous three month period.

Business Bank Loans in a Recession Credit SuiteCongruency

It is also vital that the business owner ensures that their business bank accounts are reported exactly the same way all of their business records are, and with the exact same physical address and phone number. And it cannot be a post office box!

It is imperative that each and every credit agency and trade credit vendor, every record keeper also lists the business name and address the exact same way. No lender is going to stop to consider all of the ways that a business might be listed, when they look into the business’s creditworthiness. Therefore, if they are unable to find what they need easily, they will just deny the application.

Note: these are record keepers of financial records, income tax, web addresses and e-mail addresses, directory assistance, etc.

Congruency also matters in the event you use a fictitious name or DBA, AKA a ‘doing business as’ status.

Responsible Account Management

Plus the business must manage its bank account responsibly. This means that the small business should avoid writing non-sufficient funds (NSF) checks at all costs, because that decimates bank ratings. Non-sufficient-funds checks are something which no business can afford to let happen. It is even a good idea for the business to add overdraft protection to their bank account as soon as possible, in order to avoid NSFs.

Positive Cash Flow

Your business must show a positive cash flow. The cash coming in and leaving a company’s bank account should reflect a positive free cash flow. A positive free cash flow is the amount of revenue left over after a company has paid all of its expenses. When an account shows a positive cash flow it indicates that the business is generating more revenue than is used to run the company. That means the bank will feel that the business can pay its bills.

Consistent Deposits

Finally, understand that banks are highly motivated to lend to a business with consistent deposits. A business owner must also make regular deposits in order to maintain a positive bank rating. The business owner must make a lot of consistent deposits. And they need to be more than the withdrawals they are making, in order to have and maintain a good bank rating. If they can do that, then they will have a good bank credit score.

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business during a recession.

An Alternative to Jacking Up Your Business Bank Credit Score in a Recession

Of course we are talking about business credit building here. Business credit is an asset which can help your company in years to come.

Small business credit is credit in a small business’s name. It doesn’t tie to a business owner’s consumer credit, not even if the owner is a sole proprietor and the solitary employee of the company.

As a result, a business owner’s business and consumer credit scores can be very different.

The Benefits

Due to the fact that small business credit is distinct from consumer, it helps to protect an entrepreneur’s personal assets, in the event of a lawsuit or business insolvency.

Also, with two distinct credit scores, a business owner can get two separate cards from the same vendor. This effectively doubles buying power.

Another benefit is that even startups can do this. Heading to a bank for a business loan can be a formula for frustration. But building small business credit, when done the right way, is a plan for success.

Consumer credit scores depend on payments but also various other elements like credit use percentages.

But for small business credit, the scores truly just hinge on whether a business pays its invoices punctually.

The Process

Building business credit is a process, and it does not occur without effort. A business has to actively work to build company credit.

That being said, it can be done easily and quickly, and it is much faster than establishing consumer credit scores.

Merchants are a big component of this process.

Doing the steps out of sequence will result in repetitive denials. Nobody can start at the top with small business credit. For instance, you can’t start with retail or cash credit from your bank. If you do, you’ll get a denial 100% of the time.

Company Fundability

A small business has to be fundable to lenders and merchants.

For this reason, a small business will need a professional-looking web site and e-mail address. And it needs to have website hosting bought from a merchant such as GoDaddy.

In addition, business telephone and fax numbers must have a listing on ListYourself.net.

Additionally, the company phone number should be toll-free (800 exchange or the like).

A business will also need a bank account dedicated solely to it, and it needs to have every one of the licenses necessary for operation.

Licenses

These licenses all have to be in the perfect, correct name of the business. And they need to have the same company address and phone numbers.

So note, that this means not just state licenses, but possibly also city licenses.

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business during a recession.

Dealing with the IRS

Visit the IRS website and acquire an EIN for the business. They’re totally free. Select a business entity like corporation, LLC, etc.

A small business can get started as a sole proprietor. But they will most likely want to change to a variety of corporation or an LLC.

This is in order to minimize risk. And it will optimize tax benefits.

A business entity will matter when it pertains to taxes and liability in case of a lawsuit. A sole proprietorship means the entrepreneur is it when it comes to liability and tax obligations. No one else is responsible.

Sole Proprietors Take Note

If you run a company as a sole proprietor, then at least be sure to file for a DBA. This is ‘doing business as’ status.

If you do not, then your personal name is the same as the company name. Consequently, you can end up being directly liable for all company debts.

Additionally, per the IRS, with this arrangement there is a 1 in 7 possibility of an IRS audit. There is a 1 in 50 chance for corporations! Prevent confusion and substantially decrease the odds of an IRS audit simultaneously.

But treat any DBA filing as a steppingstone to incorporating.

Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and deal with any errors ASAP. Get in the habit of checking credit reports. Dig into the particulars, not just the scores.

We can help you monitor business credit at Experian and D&B for 90% less than it would cost you at the CRAs.

Update Your Data

Update the information if there are inaccuracies or the info is incomplete.

Fix Your Business Credit

So, what’s all this monitoring for? It’s to contest any inaccuracies in your records. Errors in your credit report(s) can be corrected. But the CRAs often want you to dispute in a particular way.

Disputes

Disputing credit report mistakes commonly means you mail a paper letter with copies of any proofs of payment with it. These are documents like receipts and cancelled checks. Never send the original copies. Always mail copies and keep the original copies.

Fixing credit report errors also means you precisely spell out any charges you contest. Make your dispute letter as crystal clear as possible. Be specific about the concerns with your report. Use certified mail so that you will have proof that you sent in your dispute.

A Word about Building Business Credit

Always use credit responsibly! Never borrow more than what you can pay off. Keep track of balances and deadlines for payments. Paying off promptly and in full will do more to raise business credit scores than just about anything else.

Building company credit pays. Excellent business credit scores help a company get loans. Your lending institution knows the small business can pay its debts. They understand the company is authentic.

The company’s EIN links to high scores and your business bank credit score in a recession will not matter quite so much.

Takeaways for How to Rock Your Business Bank Credit Score in a Recession

Start with consistent deposits, even if you cannot make terribly high ones. Just, start to become dependable in how you add money to your business’s bank account. Whether you deposit every week or every other week, etc. is your own choice. Opt for whatever you are most likely to be able to do.

This can also help you with both positive cash flow and responsible account management. Hence you get a lot of bang for your buck here – quite literally.

The other fairly simple task you can undertake is to make sure your business address and other particulars are perfectly congruent across the board. This means, for example, that if you wrote Ltd. on your D&B D-U-N-S number application, but Limited when you applied for a business bank account, you will need to take measures to get these two areas in sync.

Generally, the easiest way to do this is by going through everything and simply copying and pasting your information.

The post How to Rock your Business Bank Credit Score in a Recession appeared first on Credit Suite.