Just diving into some credit insights that might pique your interest. Recently, there’s been a lot of buzz about Citizens Bank and their generous lending practices this year, especially regarding their Business Credit Cards (BCC) and Business Lines of Credit (BLOC). Here’s the scoop: Citizens Bank is offering a 0% introductory APR on purchases for the first 12 months after account opening. It’s a sweet deal for anyone looking to make significant purchases or investments without the immediate burden of interest rates. From my connections, I've seen quite a few approvals flying around, and they’ve been pulling from Experian lately—switching up from Equifax. (Depends on your State) Not sure if that makes a difference in different states, but it’s something to keep in mind. And a quick heads up for anyone confused by the name 'Citizens Bank'—there’s a bit of a mix-up with another smaller bank of the same name that was taken over by the government in Iowa. But no worries, we’re talking about the big player here, not the small fry. I made sure to check the addresses and websites just to be clear. It’s funny how many banks share the same name, right? So, what’s your take on this? Has anyone jumped on this 0% APR deal yet? Also, any insights on whether these approvals are specifically for BCC or BLOC? I’m curious and considering whether to try filing as a foreign entity in a state they serve if needed. Looking forward to hearing your thoughts or any experiences you’ve had with Citizens Bank! Catch you in the comments!

I’ve been checking my stats on the impact of using alternative credit services like eCredable on business credit. eCredable is quite unique because it reports to major business credit bureaus such as Dun & Bradstreet, Equifax, Experian, and Creditsafe. Here's what their website states: "eCredable currently reports to Dun & Bradstreet (D&B), Equifax, Experian, and Creditsafe. For D&B and Experian, eCredable only reports your eCredable Business Subscription payment at this time, and Equifax only accepts accounts verified to be in the business name. Creditsafe accepts accounts in the name of the principal or the business." I've been using eCredable for over two years now, mainly focusing on building my profile with Business Experian and SBFE. They've been quite reliable in reporting to Equifax and Experian. It also allows us to report Uline, Quill, and other Net-30 accounts. Updates from D&B are hit or miss, though—I haven’t checked in a few months to confirm the latest status. It’s crucial to regularly log in to your accounts, perhaps every couple of months, to ensure everything is being reported correctly. I've encountered a few hiccups where some months weren’t reflected properly. A quick email to eCredable customer support usually resolves any reporting issues, ensuring all positive months are accounted for. eCredable and Nav have been invaluable for adding cheap and easy tradelines to my business credit files. I’m always on the lookout for similar services to broaden my credit foundation. Does anyone have recommendations for other similar services? I’m eager to hear from others who are using or have used eCredable. What has your experience been like?

I've been on a financing spree lately, applying for no-doc Business Lines of Credit (BLOCs) for some owner media deals I've been preparing for. I've been networking with various regional and local banks, and here are my approvals so far: 1. Truist Bank: Offered up to $50K, and I got it approved. Note that Truist's no-doc offerings vary by state, so check with your local banker before diving in. 2. City National: These guys have a higher limit—up to $250K. I pushed the limit and got approved for a whopping $244K! 3. Umpqua Bank: Offers up to $100K, and yes, I snagged the full $100K. The process was smooth and definitely worth checking out. 4. PNC: Known for up to $100K, I walked away with $70K. Not bad, considering the straightforward process. 5. BMO: Offers up to $50K; I was approved for $35K. A bit more conservative, but their regional limitations play a part. 6. Key Bank: Also caps at $50K, and I got the maximum approval. Key Bank has been consistent and reliable. Insights from My Visits: East coast banks seem more generous with their BLOC offerings. Also, it's crucial to be in the "footprint" area of these banks for BLOCs, though this isn’t as strict for nationwide credit. I run a Wyoming LLC among others and have encountered some issues with no-doc loans due to not registering as a foreign entity in California—refusing to shell out $800 in default taxes there since I’m not active in CA anymore. My Advice: Always confirm with your banker about current no-doc loan programs as banks tend to change their offerings. Being informed and prepared can make a significant difference in your applications. Anyone else applying for BLOCs or have experiences with these or other banks on the east coast?

I’m sharing some recent business credit approvals of mine! So here’s the deals: I recently nailed some solid approvals – $25K from PNC Bank, $40K combined from First Horizon (that’s both BCC and BLOC), and another $25K from Chase Bank. Oddly enough, this is my second round with Chase this year; the first one capped at $15K for another biz. Not sure why Chase is holding back, but hey, that’s the game. Credit Limit Increase Tip: Did you know with Chase you can request a credit limit increase with just a soft pull? Yep, just call them up and chat it out – it's a great way to learn what’s possible without impacting your credit score too much. Pro tip: Make sure to lock up your credit bureaus before making the request. I did! The PNC Arena: Here’s a thing with PNC – they like to see some meaty transactions and bank statements. My banker was quick to hint at a juicy $100K no-doc BLOC during my first visit. But, the very next day, he advised waiting another 30 to 60 days before applying to really beef up my transaction history. So, if you’re eyeing something similar, consider waiting about 91 days in total, showing as many deposits and payments as you can. This could really ramp up your chances for a near $100K approval. 🤫 Insider Tip with PNC: Another cool thing with PNC is that they only do a soft pull for business lines of credit and auto loans. Just keep your Experian inquiries low – under 2 or 3 in the last six months should keep you in the safe zone to pull that credit trigger. 💬 Ever Heard of the Reconsideration Line? Yup, if things don’t go your way initially, there’s always the reconsideration line. I believe it's a different department that can give you a second shot at pleading your case for credit. These are a few tactical moves and some patience can really turn the tides in your favor when building business credit. Has anyone else had similar experiences or used the reconsideration line successfully?

I got some insights on a common topic among us…
Finding a physical address for your business in your target bank's territory. Despite all the talk about virtual addresses and P.O. boxes, using them can sometimes lead to issues with your bank accounts. So, what are the alternatives, especially if your business is registered in a state different from where you reside? Here’s the lowdown on getting a physical business address and why it's crucial: 1. **Why Not Virtual?** First up, while virtual addresses are great for mailing, banks can be iffy about them. I’ve learned that some banks might even shut down accounts if they realize you’re using a virtual address. 2. **Physical Address with a Suite:** You can use your home address by adding a suite number. It’s simple and effective. I’ve done this by labeling my home office as Suite A, B, or even 1a depending on what makes sense. This can often satisfy the requirements without much hassle. 3. **Working with Realtors and Local Businesses:** I found a fantastic workaround by reaching out to real estate offices. Many have extra space and are willing to let you use their address for a small fee. I negotiated with a local realtor and had a deal for $150 a month just for mailbox use. 4. **Community Groups for Office Space:** Don’t underestimate the power of local Facebook (and soon Skool) or mom groups. These groups are treasure troves for finding shared office spaces or even landlords who are flexible with address use. It was through one of these groups that I found my current office space. 5. **Expanding Across State Lines:** If you’re looking at business credit opportunities in states like Colorado, Pennsylvania, Texas, or more, consider setting up as a foreign entity in those states. It makes dealing with local banks much smoother and opens up numerous funding opportunities. Whether it’s local community banks or national ones, establishing a strong relationship can help you navigate the complexities of business banking. I visit the banks in person to set a solid foundation for future transactions.