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Remember folks, do not forget, you've got to have great personal credit to receive any business credit. A lot of gurus forget to mention that.

@MarkReese

3 ай бұрын

Correct. See 15:20 in the video.

@sexipinkice

2 ай бұрын

Wish I knew that before I applied. Thanks

@TammT51

Ай бұрын

Wish that was said 1st cause no need to listen to full vid if you have bad credit, but thanks away for the info

@heganobadi132

26 күн бұрын

Hello ​@@MarkReese please can you help .I'm thinking soon I want to apply for chase ink perferferd but I have one closed account from two years ago it was closed on 4/22 and I have 4 more active accounts do you think I'm under 5/24 or I'm I not under 5 /24 it's showing that my oldest account is 2/4 years

@shereviewsstuff4ya

20 күн бұрын

quite informative.

It’s great that we DON’T need an LLC or even an EIN to get approved for business credit cards 💯

@MarkReese

3 ай бұрын

Sure is!

@PrimateProductions

11 күн бұрын

But you do have to have really good personal credit

Hey Mark, been here since 500 subs. So happy you respond to everyone and glad to see your growth. Excited to see play button soon.

@MarkReese

3 ай бұрын

I hugely appreciate your support, Ayush! 🥇 More great videos to come...

@_MrnoCAP

3 ай бұрын

Excited to join the community and network. ENJOI using credit. While doing business. To earn extra income. To scale our business.

Very informative and helpful!!! Thank you so much!!! Always great content!!! 🎉🤙🏽👏🏽

@MarkReese

2 ай бұрын

Glad you found the information beneficial!

Thank you Mark! Very valuable info.

@MarkReese

3 ай бұрын

You're welcome!

Great info 👍

I’m going to build my personal score up before applying for Chase.

@MarkReese

3 ай бұрын

Make it happen! 💯

Keep up the great work!

@MarkReese

3 ай бұрын

Thanks, will do!

Thanks for the useful information!!

@MarkReese

3 ай бұрын

You're welcome!

Hey KZread algorithm Mark is the goat of credit card videos and you should recommend his videos to everyone🙌🏽❤️👍🏽👍🏽

@MarkReese

3 ай бұрын

Thanks Chris! 😁👊

@Timotheos-td7mq

3 ай бұрын

Yeah recommended it to everyone that doesn't have a job, it's not like you have to pay it back with interest.. Right 🤣

lol not me already planning to Apply for this exact card and he posts a video right before to help me out 🎉

@MarkReese

3 ай бұрын

Good luck on the application!

Awesome information. Thanks!

@MarkReese

3 ай бұрын

You're welcome!

Valuable information thanks

@MarkReese

3 ай бұрын

You bet 👍

Thank you very much for sharing 🤗🥰

@MarkReese

3 ай бұрын

You're welcome!

Great content, subscribed

@MarkReese

3 ай бұрын

Much appreciated! 🥇

GRACIAS MARK LIKE YOUR VIDEOS ALL WAYS

@MarkReese

2 ай бұрын

Thank you!

Definitely will get into Business cards soon but not right now.

@MarkReese

3 ай бұрын

💯👍

Thank you!🙂

@MarkReese

25 күн бұрын

You're welcome!

Great content Mark. Question is does it go against your own credit? Hard inquiry on your report? If yes and i am in the process of starting my own company do i wait so i dont have hard inquiry? Also what business cards would u suggest if cant show income in new business? Any advice would be greatly appreciated. Thank you

@MarkReese

3 ай бұрын

1. Yes. Small business credit cards will pull your personal credit and therefore leave a hard inquiry. 2. I don't have data to suggest which cards are easier than others based on no current revenue. In general, I've found Amex to be easiest to work with for new businesses.

Thank you

@MarkReese

2 ай бұрын

Of course!

Followed your lead and was approved for $20,000! Thank you:)

@MarkReese

Ай бұрын

Fantastic, congrats on the $20K!

Approved!!

@MarkReese

2 ай бұрын

Congrats!

hi, I have an upcoming 3 to 4 month hotel stays later this year & I am choosing which hotel cards to pick, there are Hyatt, Hilton, Marriott and Crowne Plaza in the area.. also I can get the Chase WOH, Hilton Surpass & Aspire, Bonvoy Brilliant & Bonvoy Business & Chase IHG Premier.. out of the Hyatt Globalist, Hilton Diamond, Marriott Titanium or Diamond, IHG Platinum or Diamond... which is worth spending $30k or more? my family will join me as well so breakfast (and maybe club lounge access) for 4 is an important factor, thanks

@MarkReese

3 ай бұрын

I can't tell you what you should value. All I can say is that many people in this game strongly prefer WoH Globalist, and for a good reason (the benefits are incredible). However, Hyatt's footprint is tiny. So, if they don't have properties in the areas you want to go, then it won't matter.

Thank you for this. Could you do AMEX too😃

@MarkReese

3 ай бұрын

I've got a bunch of "Watch Me Apply" videos with Amex business credit cards. Just search "Mark Reese Watch Me Apply" on KZread and you'll see them.

@MarkReese

3 ай бұрын

Here are 3 of them... HH Business: kzread.info/dash/bejne/k2Z_s9Nyc8_cgqw.html Blue Business Cash: kzread.info/dash/bejne/Y213p5hpYL2fiMo.html Blue Business Plus: kzread.info/dash/bejne/dZZ_zcmNnc3agrA.html

Hi Mark, this quests not related to the video. I got the Caesar diamond status by watching your video and now the Caesar diamond only match to MGM pearl. With your expertise and knowledge, is there other way to get MGM gold by matching Wyndham diamond to other status?

@MarkReese

3 ай бұрын

Not that I'm aware of.

Awesome content!!

@MarkReese

3 ай бұрын

Thanks!

Anyone with the Amex Platinum already kind of owns a small business, in the crazy coupon lady sense.

@MarkReese

3 ай бұрын

😂

Is there any differences between choosing EIN and SSN for Tax ID type? for example any drawbacks in personal taxation or higher risk of application denial

@MarkReese

12 күн бұрын

I don't have data to suggest an answer to that.

Wish that was said 1st cause no need to listen to full vid if you have bad credit, but thanks away for the info

@MarkReese

Ай бұрын

👍

Great

@MarkReese

3 ай бұрын

💯

Thank you for all the information. I learned so much from your Chanel and I have a question, to apply as a sol proprietorship do I have to have a business account and if not do you recommend someone to open a business account before applying? Thank you so much for clarifying and in the next few months I will apply for few account and I would love to use your referral. Thank you and a good beginning of the week

@MarkReese

3 ай бұрын

No, having a business bank is not required prior to applying. It may help with some banks, but I don't have any data to back that up.

What spend would qualify to receive the sign-up bonus on a business credit card? Would it need to be spending for the business or could it be my every day spend that would qualify me to get the sign up bonus on a business credit card?

@MarkReese

Ай бұрын

Per the card agreement, the card is only to be used for business expenses. However, people have also put personal expenses on business cards without an issue as there isn't a way for a bank to know the purpose of a purchase. That said, putting personal expenses on a business card is not something I encourage people to do.

Thanks for the video and information! I have a question; perhaps, you can help. I hoping to create a business credit building company so that I can help people around my local community build business credit. Wondering if you know anyone in the industry who can help?

@MarkReese

Ай бұрын

I don't. Good luck though!

What sort of income verification or documentation do the banks usually require?

@MarkReese

3 ай бұрын

Credit score requirements aren't published. In my experience, documentation is rarely requested (more commonly from Barclays and U.S. Bank). If so, they may want to see proof of address and proof of business (e.g. Certificate of Filing or Articles of Incorporation).

I just grabbed a GM Business Rewards card making it make 6th business card! ✊

@MarkReese

3 ай бұрын

Congrats!

Great video , one question , my LLC name is different from my name any problem to apply ?

@MarkReese

3 ай бұрын

No problem at all, in fact, that's expected. This video only demonstrated applying as a sole proprietor, which is why the name was identical.

If you apply for a business card but use it for personal use and pay it off from personal funds, is that legal or can that create an issue with the IRS?

@MarkReese

3 ай бұрын

Per my understanding, there's no legal issue from a government perspective. It's only a violation of the cardmember agreement. And for those who have legal structures (LLC, etc.), adding personal expenses can "pierce the corporate veil" and be a problem if a lawsuit were to occur. All that said, I don't give legal advice, so best to consult with an expert in the matter.

can u make this guide for the bank of america cards, its a bit different.

@MarkReese

15 күн бұрын

Thanks for the suggestion, but that's not a video I intend to make at this time. I've made other videos of my applying for Bank of America business credit cards. Here's 1: kzread.info/dash/bejne/a3qIl5Sdf9rfh7A.html Here's another: kzread.info/dash/bejne/nJqdlbGTdcjbntY.html

Hey Mark, if you close your LLC what happens to the business credit cards under that llc. Also how strict is chase for business apps?

@MarkReese

3 ай бұрын

Frankly, I'm not sure. I've seen data points from others that their cards kept working (likely because they're still linked to the individuals via SSN, which was entered on the application). I personally would close the card(s) for a dissolved LLC. However, I'd also call the bank & ask directly, since again, I'm not 100% sure. I've not gone through that experience. You could also ask the bank if they can switch the EIN # to a new business or to your SSN as a Sole Prop. I also don't have a way of rating Chase's strictness, so I can't comment on that either.

@AM-nm1oe

2 ай бұрын

@@MarkReese I'm at 8/24 and really want to get that Hyatt business card before next year. I've heard mixed things about if it matters anymore for chase business cards

@nevillewhite3451

Ай бұрын

Different banks do it differently. Some don't check but who knows for how long.

Will these report to personal credit if applied as a sole proprietor?

@MarkReese

3 ай бұрын

None of the business cards from the following issuers will report to your personal credit if you apply as a sole prop: - Chase - Citi - Amex - Barclays - U.S. Bank - Bank of America

His backdoor is wide open

HOW much credit can you get? can you pay a down payment for a second house?

@MarkReese

3 ай бұрын

There's no maximum limit that applies to everyone across all cards. It depends on things like credit score, income, revenue, and other factors. I'm not aware of lenders that will accept down payments on a credit card.

Question I find myself the owner of 6 LLCs that didn't actually start the way I wanted it to bar in good standing 1. Mobile bakery 2. Power washing 3. Credit consulting 4. Debt purchasing 5. Micro credit lending 6. Homeless support service Your recommendation for est. business credit? 🤔

@MarkReese

Ай бұрын

Recommendation for...? A business card? For which business?

@CERBERUS-gv6tn

Ай бұрын

Yes All of them! Personal credit score is 720 thus far 5 accounts will be used for funding using the issued credit from each bank. And with the credit lending business, I'm going full time. Doable?🤔

@MarkReese

Ай бұрын

@@CERBERUS-gv6tn - If funding is the purpose, then you'd likely want to focus on 0% APR. Look into the Amex Blue Business Plus. Here's my affiliate link to learn more about it (scroll down, it's currently the 8th card on the list): markscreditcards.com/businesscards Be sure to take a calculated approach to funding a business via credit cards (i.e. have a sound plan for revenue generation).

Will I receive a hard inquiry when I apply for this card?

@MarkReese

2 ай бұрын

Yes. A possible exception is if you already have a card relationship with Amex, then they may do a soft pull for additional cards you get with them. It's not guaranteed, though.

Does this pull from your personal credit?

@MarkReese

3 ай бұрын

Yes, see 15:37 in the video.

Hey Mark me and my wife we are starting a business we don’t need too much . What is the best approach to a business loan I guess

@MarkReese

Ай бұрын

Hi Daniel - I haven't applied for a business loan, so that's not something I can comment on at this time.

Hey Mark, Is it true that Chase business credit cards that are opened using your personal SSN are considered personal credit cards for the purposes of the 5/24 rule? I’m seeing some reports of this online.

@MarkReese

Сағат бұрын

Unless something changed just recently, then no, that's never been the case. I have 5 Chase business cards obtained via SSN and none of them appear on my personal credit report, therefore, they cannot count towards 5/24.

I charged my online curriculum course on my personal credit card. Could I have it transferred to my business credit card?

@MarkReese

3 ай бұрын

No, you cannot move a transaction from one card to another.

I bank with Chase so it would be really odd for me to all of a sudden apply for a business card and all I make each month is $1100🤦🏾‍♀️

@MarkReese

2 ай бұрын

Having revenue and an existing relationship could work in your favor. I cannot guarantee any outcome, however.

I set up a lemonade stand, at the park. Now I have a business

@MarkReese

3 ай бұрын

💯🍋

@jalabi99

3 ай бұрын

Literally, you do!

@chrisharton9725

22 күн бұрын

Hilarious 😂

Can you use gross income PROJECTIONS?

@MarkReese

3 ай бұрын

Read the terms on the application. If it says anything related to estimating how much you can reasonably expect to make in a year, then yes.

@karlburmeister1552

Ай бұрын

This is the question I was looking for. Thanks.

Question! I have an LLC that uses freelance bakers for production and deliveries So far I've acquired 12 freelances willing to to work independently under the company's name Are they allowed to get credit under my LLC business name?🤔

@MarkReese

4 күн бұрын

I can't speak for all banks or all the legal implications, but I did ask a rep from American Express. He told me that yes, you can add freelancers to your account by giving them employee cards as long as they have their own SSN or passport with them.

@bloodmooncomix457

3 күн бұрын

@@MarkReese Thank you! Grateful as usual! 👊😌

Do you need an account with the banks

@MarkReese

3 ай бұрын

No. It could help with an approval, especially with Bank of America and U.S. Bank, but not required.

I am an uber eats driver what to chosse in the business info

@MarkReese

3 ай бұрын

One option could be the following (using Chase's application as an example)... Business Category = "Transportation: Air, Ground, Pipeline, Rail, Water, Tourism, Support" Business Type = "Taxi and Limousine Service" Business Sub-Type = "Taxi and Ridesharing Services Unless you can find something better, that's probably what I'd do since it ends up leading to including "Ridesharing," which is closely related.

So is this will give me a ding on my personal credit report?

@MarkReese

2 ай бұрын

In nearly all situations, yes.

Using your SSN will affect your personal credit report. Not what I am looking for. Thx.

@MarkReese

9 күн бұрын

It could affect your score temporarily due to a hard inquiry. Beyond that, there's no effect with many of the larger banks because the small business cards do not get reported to your personal credit report.

They do a hard pull on your personal credit?

@MarkReese

Ай бұрын

Yes.

And I just got turned down, that's nice, but I don't I just continually live the dream.

@MarkReese

Ай бұрын

Bummer. Did you find out the reason why?

Nice! When acquiring a business card using your social like this, will it show up on your personal credit report?

@MarkReese

2 ай бұрын

With most cards from most of the big banks, no.

Hi

@MarkReese

3 ай бұрын

👋

Are we going to get flag by using the business credit card on everyday use ?

@MarkReese

3 ай бұрын

Very unlikely. The bank has no way of knowing if that plane ticket, restaurant meal, or miscellaneous purchase was for business or personal use. However, using a business card for personal purchases is a violation of the card agreement. That said, do people do it? Yes. Is it a behavior I encourage people to do? No. Everyone can make their own decisions though.

@DJRenee

3 ай бұрын

Do not co mingle funds.

What about chase 5/24 will applying for a chase business card effect the 5/24 rule?

@MarkReese

3 ай бұрын

No. For Chase business cards, you need to be below 5/24 to apply & get approved, but if approved, your 5/24 count will not change. Example: You're at 4/24, get approved for a Chase Ink card, and remain 4/24 after.

👍🏻

@MarkReese

3 ай бұрын

👍

is the spend audited?

@MarkReese

3 ай бұрын

In my experience, no.

What cards grant pre-revenue and what is the typical credit score for approval?

@MarkReese

3 ай бұрын

I don't have a list of pre-revenue options. Credit score requirements are also not published, so I can't speak to that.

Pardon my ignorance. But by not having a business and putting regular spends on business cards isnt that bad? Great video my guy, new sub inbound

@MarkReese

3 ай бұрын

Using business credit cards for personal expenses violates the cardmember agreement. Have people done it? Yes. Do banks know if your restaurant / utility / flight purchase was for business or personal use? No. Do I encourage people to use business cards for personal use? No. However, everyone can choose to make their own decisions.

@TheAndyzilla

3 ай бұрын

@@MarkReese ah i see, thanks for the info!

@davemTX2023

2 ай бұрын

Do they pull your personal credit it your don’t use EIN

@MarkReese

2 ай бұрын

@@davemTX2023 - Your personal credit will be pulled no matter what.

No biz checking or savings required?? 😲

@MarkReese

Ай бұрын

Nope!

Thanks let see what happen😅

@MarkReese

3 ай бұрын

💯👍

😊

@MarkReese

3 ай бұрын

😄

It will not let me change the EIN number in the business area

@MarkReese

3 ай бұрын

What do you mean?

What if all your income is self-employed 1099

@MarkReese

2 ай бұрын

Fill out the application in a way that represents that 💯👍

MAY Qualify May 🤦🏾‍♀️

@MarkReese

2 ай бұрын

Correct, there's no guarantee of an approval 👍

Can I get personal help?

@MarkReese

Ай бұрын

I don't work with people 1-on-1 at this time.

What credit score is required????

@MarkReese

3 ай бұрын

Unfortunately, the score requirements aren't published by the banks.

🤩

@MarkReese

3 ай бұрын

💯💯

Do business credit cards appear in your online banking page with your personal credit cards?

@MarkReese

3 ай бұрын

With Amex, yes. With Capital One, yes. With U.S. Bank, yes. With Barclays, yes. With Chase, you'll need to create a separate business account, but you can combine it with your personal account later. With BOA, you'll need to create a separate business account, but you can combine it with your personal account later. With Citi, no.

@l.a.rivasesq.8841

3 ай бұрын

​@@MarkReeseThank you very much for your thorough response!

What credit score do you have to have. Its all based off of your credit score

@MarkReese

3 ай бұрын

Credit score requirements are not published. And no, it's not all based off your score.

@topoftheworld4535

3 ай бұрын

@@MarkReese well I know for Chase it has to be higher than a 640. I applied and got denied

@MarkReese

3 ай бұрын

@@topoftheworld4535 - Perhaps, but a single data point isn't revelatory. I've seen data points of people with 800+ scores get denied for credit cards. Score is not everything.

@topoftheworld4535

3 ай бұрын

@@MarkReese the only thing I've been able to get thus far is a secured credit card. I'm beginning to think its impossible for me to obtain any kind of unsecured credit card. God bless the people it does work for

When you're Italian or Irish, and they recognize the family you're in, it's all business, a little favor and the banks still win. 🍀 🍕

@MarkReese

3 ай бұрын

🇮🇪🇮🇪🇮🇪

So, to get a business cc you DO need a "business".....acting like you don't need to have anything and can get approved. Relax with the click bait.

@MarkReese

3 ай бұрын

Yes, you "need" a "business" per the card agreement. However, are there data points of consumers with truly no business & exclusively have W2 income who got approved for business credit cards? Yes. Does that mean lying on the application? Yes. Is that something I encourage others to do? No. I simply say this because business card approvals are possible nonetheless.

@Congress.Pub.L.97-280NowActive

3 ай бұрын

Yes, like all things in commerce, you need a business that everyone already has but keep calling it "personal".

@jimmydavis4735

3 ай бұрын

Facts. You Made Him Explain His Lie Encouraging People To Create Problems For Themselves.

Watch It! Won't this get reported on your personal credit!? No good!

@MarkReese

3 ай бұрын

Most small business cards do not get reported on your personal credit. In fact, of the 17 you saw in the intro, none of them were reported on the personal side. That said, they could report if you default on payments.

this video is completely useless unless you have great credit score already - they will pull your credit score regardless of what this guy tells you

@MarkReese

Ай бұрын

Correct, your personal credit will be pulled. For people with a lower credit score, there are ways to increase it.

Your wrong it selects run number. That's what you want because that's business. All you need to do is get your business ein number !

@MarkReese

26 күн бұрын

What do you mean by "it selects run number?"

This is gar Bage

@MarkReese

3 ай бұрын

Thanks for the comment!

I hate chase

@MarkReese

24 күн бұрын

Reason?

No. One. Cares. Not. Even. Rich. People. Bull.

@MarkReese

Ай бұрын

✌

Chase is 💩

@MarkReese

14 күн бұрын

😬

Immediately NOT approved.😢 So discouraging. Oh well, I’ll throw out that 15 USC 1691a which shows that it is unlawful to deny anyone credit, and is an adverse action.👌🏽💡

@MarkReese

2 ай бұрын

Did you find out the reason(s) for the denial?

@kerrybaird739

2 ай бұрын

I wonder if that works for businesses or just for individuals.

@karlburmeister1552

Ай бұрын

ECOA states that lenders must state the given reason for credit denial, not that it is illegal to deny credit.

Definitely, keeping this video in the file collection Reese Man

@MarkReese

3 ай бұрын

🏆🎬

unapproved with llc

@MarkReese

22 күн бұрын

Did you find out the reason(s) for the denial?