[Winning]

Over a year ago I took the advice from 1 of the members here that the 0% interest credit card offers are the cheapest access to funds. So I leveraged my 750 fico and submitted for approvals for a few of the CC spam snail mails that I would receive at my home. In about 30 minutes I had 3 approvals for over $40K. It took another 4 business days before I had all the 3 CC in hand. My credit score did take a hit of about 100 points after I utilized the credit, due to my credit utilization being high. But I have since paid all the balances down, and my credit score is now higher than what it was before I did this! Another bonus is that all the credit cards have raised my limits by about 30%. So now I have an available credit card limit of $52K between those 3 cards.

The Gift That Keeps On Giving...
The real kicker is that now since I don't have a balance on the cards I am starting to receive the blank checks from the 3 credit card companies for 0% interest 12 months for anything I decide to write the check for.. In there marketing they even encourage you to write the check to yourself and deposit it into your own account. What an awesome tool to have available to you in the event you need it, at 0% interest for a year!

I wish I would have starting leveraging 0% CC offers 20 years ago! I am not sure if the 30% increase in 12 month I received is typical or not but if it is then...
Year 1 = $40K
Year 2 + 30% increase = $52K
Year 3 + 30% increase = $67.6K
Year 4 + 30% increase = $87.8K
Year 5 + 30% increase = $114.2K
Year 6 + 30% increase = $148.5K

And those numbers are only factoring the 3 cards that I originally received. If I were to leverage my fico again and seek even more approvals with various credit card companies who knows what the number would be.

So based on these numbers I am seeing for myself, it would seem that it is not uncommon for a person to have $500K or more in available Credit card limits.. If I would have started this process 20 years ago I would have over $500k.

[abfunders]

And if you do it with BUSINESS credit cards, ones that don't report to your personal credit, then your credit score doesn't take a hit. And you can jack up the usage up to 90% with no repercussions, as long as you pay it down. Down-side is that the terms are 6-12 months, not 12-24. But the 0 APR balance transfer / checks you're referring to go out 18 months.

[Winning]

I have an AMEX Plat Business Card, and have had it for about 13 years now.. It doesn't show up on my personal credit report but they have never extended any kind of 0% interest checks/balance transfer option. The other business cards that I have are from Capital One, I have had that one for about 5 years, but those do show up on my personal credit.

So my home work would be to find out what business cards will not show up on my personal credit, and start pursuing those. It's not as easy with the business cards as compared to personal. Sites like Credit Karma and Nerd Wallet makes it so easy to research all the various offers on the personal credit cards. Is there a site like that for business cards, so I can see the details of all the various Business Credit card offers?

[abfunders]

Winning, that's an angle where we brokers who specialize in this make money! Can't give you all the trade secrets! Although if you have friends who need it, we can discuss co-co-brokering.
Yes, unless you do this FULL TIME, it's definitely not worth doing it yourself. You need relationships with like 250 banks across the US and know which one will fund which industries, and then the follow-up is ridiculous. The setup needs to be done right to get max approval (Sec of State address and officers updated before submission, etc.) It can take over a month to do it sometimes. MCAs can go fast, and it can be less than perfect and then they'll tell you as a stip, "Update SOS." And THEN you have to bill the client, and if they don't pay (which is rare - they have good credit, why not pay?), send them to collections (which will ruin their credit).

And you have to provide educational material to maximize the cards and show the metrics in order to justify the fees.

Believe it or not, banks require even more stips than Mantis!

[Winning]

Question, Why is the personal credit process so much easier to do?

[abfunders]

Question, Why is the personal credit process so much easier to do?

Collecting information about the cards that offer the 0% APR is easier because they're marketing to consumers. How often do you come across ads on Google or Facebook directed only at the owner of a small business? (I'll be honest, I don't know, since I'm not on FB and I use adblockers on Google.) Business owners are also consumers. How about commercials? Factors and CC processing companies aren't advertising, because it's casting too wide a net.

Therefore, not all banks offer. And why they still will report to personal credit? A Chase Ink Business card for example does not, but the CapOne does (all 3 bureaus!) The reason they do this is to allow business owners to "keep business and personal separate." It's more risky, though, since you can stack them and there's no real way for the banks to know, unless the bank has the business card on file.

So the real answer? This is a guess, but for maximum approval for a business, these cards have a higher threshold to make sure you're a legit business, and won't use it for personal expenses and go BK on them.

[Winning]

Got it.. Makes perfect sense.

What''s your opinion on the Dun & Bradstreet service? I get calls from them to sign up and pay to be a member.. Do you feel that it is worth it, for a business to enroll with there paid service? In your experiance have you found that by having paid D&B account for the business, make's it easier for you to get get apprrovals or higher approvals than if the business did not have a paid account on D&B?