How to Get Credit Easily When You Have Bad Credit

Posted: 03 Sep 2008 | Categories: Credit

Getting new credit when you have bad credit is simple to do. You will even get better terms than if you had good credit and you can do it with a signature and no social security number verification. There is a little known loophole for doing this that has been available for decades. It is completely legal and done by the wealthy all the time. It was actually designed for the wealthy by the wealthy.

95% of people in the country have no idea what it is. A very few have heard a whisper here and a rumor there but have no idea of how to do the process. It is simple but mysterious. “What is it?” you ask. “Why don’t I know about it?” you wonder. “How can I get it?”, you demand.

As to the first question, “What is it?”. It is called business credit. It is completely separate from your personal credit. You can only gain business credit if you create a limited liability company (LLC) or a corporation (S or C). Happily anyone can do the above and they can do it out of their home. You can form a corporation or LLC by contacting the secretary of state of the state you live in and getting an application mailed to you or you can have a corporate formation company form your LLC or corporation for you. It is not expensive, complicated, or time consuming. The cheaper route is to do it yourself by filing with your secretary of state.

After you receive the paperwork for your LLC or corporation you then get a tax ID number from the IRS for your corp or LLC. That is like your social security number for your business. No you will not use the Tax ID number in place of your social security number. That is not necessary and it would not work. Next you would get a business license for your company and a business phone line installed in your home with a listing in the white pages for your business. Next you would open a business checking account at your local bank. You could usually open a business account with $100. You would use the Tax ID number you received from the IRS to do that and your business license. You would then want to get a business fax line which you could get for $10 a month at ringcentral.com.

You are now a legitimate business in the eyes of the business world. You might have only one employee and a $100 in the bank account but you are a real live business and there are many many businesses who now want to give you credit. Do not run out now and go apply for a visa or a MasterCard because you will be turned down. Ironically they will send you application after application to apply but you do not yet fit there criteria. You have no credit history. When I first started my corporation I had a six inch stack of visa and MasterCard applications that I let collect dust while I built my new credit profile.

There are a couple of steps beyond those outlined in this article to get to the point where you can get $20,000 to $50,000 Visas and MasterCards and credit lines. The process takes about 3 to 4 months. If you have patience and persistence and want to do it see my blog on business credit and contact me.

Ask. Seek. Knock.

“Ask and you shall receive. Seek and you shall find. Knock and the door will be opened.” Jesus

My name is Kevin Hemmons. I am an entrepreneur. If you want to know more about this subject goto my blog where I create articles all about business credit. I love helping people help themselves.

http://secretsupercredit.blogspot.com/
kevinhemmons@yahoo.com

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