Tier 4 Checklist

Hello, and welcome to this module, the tier four account blueprint. So at this point, we’re going to start taking action and getting tier four credit accounts. So at this point, you would already have done everything you needed to do to make sure you have the tier three tier two and tier one accounts reporting on your credit file with on-time payment history with at least three orders with all of those vendors. Okay. So here’s what we’re going to cover in tier four. So, number one, I’m going to give you the blueprint. So that way you can start applying for these accounts. I’m gonna also briefly cover credit limit increases with your current vendors. I’m going to break down three ways to increase your current limits and then tier four vendor lists. And then right below this video, there’s going to be a list of tier four accounts that you can take advantage of.

All right. So here’s what we’re gonna go in and get into. So the primary focus, just so I’m clear of tier four, you already kind of started doing this slightly in tier three, and you may have gotten these revolving accounts before, but tier four, the whole goal here and moving forward for tier four and up is revolving line of credits. All right. So these vendors on the vendor list are gonna more than likely offer things like gas fleet and store business credit cards. And then when you get, when we get into tier five, this is going to be harder to obtain cards along with a few secure business cards. But essentially what we’re looking at is revolving cards. So the primary revolving business store cards that we’re gonna apply with are going to be without needing a social security number that reports to Dun and Bradstreet and any other credit business, any business credit bureau, like Experian, sometimes Equifax.

Now, when we look at the difference between all of the accounts that we’ve done up to this point, now we still may get some net 30 accounts in tier four, but the goal is to transition from net 30 accounts to revolving store credit, because the difference is we want to make sure we can start getting those revolving terms because it’s going to give us longer payment windows, number one. And then if we have a revolving account, we can just make the minimum monthly payment as opposed to having to pay, make the payment in full. So the other goal is making sure we shift from the number of accounts to going to the existing accounts that we have and they’re requesting limit increases. So what we want to do is secure at least a 5,000 line of credit before we go over to the tier five blueprint, which will be next after this, but as I’m giving you the blueprint, so, real quick hack for you to get credit limit increases.

So once you’ve already made your payments, which you’ve done, you can work with the existing vendors that you’ve already established and request that they give you an upgrade or give you a line increase. So for example, Chevron/Tesco business card, you can go from that business card to the Chevron/Texaco Universal MasterCard, because at that point, it’s going from a normal card to a MasterCard, which is going to have revolving terms, which is what we want. So in another example of this is you’re still with that. You’re still with that retailer and we’re just trying to go from the net 30 accounts vendor accounts that we have, and see if we can get a revolving line of credit, because what this is going to do is ask or not ask us, give us more credibility to lend our business, make our business more credible from a lending perspective.

Also what you could do is you can just always call and ask for a major limit increase, and then see if that particular vendor offers a Master or Visa card and see if you can transition. Now, if they give it to you, then you’re on the right track and you want to ask them what you will be eligible for in terms of going from a vendor account to seeing them having revolving terms. Okay, so number one, the easy way we can do this as we can just increase our spending. So like I was saying before, the importance of looking at your lifestyle and then identifying if there’s ways that you can, if you were already going to spend this money anyways, can you just redirect this on your business credit and then put it on that with that, with that vendor, because you were spending money anyways, and then pay it off before the new day.

Another way you can increase your limit, I know I’ve talked about the importance of personal credit, but you can provide a personal guarantee. And then typically what this is going to do is give you based off your credibility, your personal credit, and lend more credibility to your business credit. So vendors like Office Depot will increase your limit by several thousand dollars, if you become a personal guarantee, without ever having a company account, if you choose to do that, and then the third way is provide two years of bank statements and financials. Now this is going to be more so for my existing business owners that have a bookkeeper and financial statements. So this is something that if you don’t have in place, go back to the tools and track your cash flow. So this may not be relevant, but you want to be setting yourself up to make sure you’re keeping all of your books in order, keeping everything clean and concise, having a bookkeeper, I can tell you will save you so much time, especially when you go to get your taxes done, because the thing is, and I’m not going to make this about taxes really in this module. But what I will say is tax preparation and tax planning are two different things. Doing the bookkeeping allows your particular tax advisor to say, okay, here’s all the potential deductions that you have. But then when you start doing tax planning, it’s going to be easier. But the point I’m making here is start doing that stuff. And if you have two years of bank statements and an existing business, this can help you also get additional lines. So for example, that same Office Depot, you could be approved for as much as $50,000. If you just provide bank statements and/or your financial statements, a profit and loss and a balance sheet on your business.

And then that will give them enough to substantiate your credit worthiness along with all the other trade lines that you’ve been building up this entire time. So, like I was already saying before with your tier two accounts, if they do not report to the bureaus within 60 days, you want to call them and make sure that they are, and then, and/or apply for additional tier two accounts. So it’s always a good idea to have these accounts increase in your credit before going to tier five. So essentially what I’m saying here in tier four is going to our previous vendors, requesting limit increases while at the same time, attempting to get approved for revolving lines of credit. So here’s a couple of vendors to look through. So number one, we’re looking at Ikea, this is a strong one.

That’s gonna help you be able to get a revolving line of credit with them. Another one is RadioShack. Believe it or not, they’re still in business. They’re going to report to Dun & Bradstreet and you can ask for a commercial application net 30 line of credit. And then see if you can potentially, you know, transition yourself to a revolving line. Shell, they’re going to report Dun & Bradstreet and Experian. You just want to click the apply now and fill out the application form. Home Depot, I actually got approved for this one myself personally, because I recently closed on a home and I said to myself, Hey, look, man, I’m going to go out and get this commercial revolving line of credit card. And I ended up getting it and I’d use my social security number on this one, just because I wanted to make sure I got approved.

And I got a pretty nice limit, you know, so this is a solid one as well. The reason why I did this one was because I wanted to buy a washer and dryer and also a refrigerator. And I figured, Hey, look, why not put that in my business credit, I was already gonna buy this stuff anyways, do it on my business credit profile. They approved me for 15,000 online. I went and bought the washer and dryer. I’m gonna pay it off, build-up my corporate credit in the process. So that’s an example of how to, you know, if you were going to buy something personally, anyways, use your credit. Like again, here’s a gas card that you could potentially apply for with BP. They’re going to report to Dun and Bradstreet and Experian, and then there’s several others on the tier four account blueprint lists.

So essentially what you want to do is just look at the accounts that you were going to get approved for anyways. And the things that you were going to be using and spending money on anyways, and then once you do that, you essentially can put yourself in a better position to get credit. And our whole goal here, just so I’m clear, is getting the most amount of credit. So I’m going to see if I can pull up this vendor list for you guys, just so you can see it. I’m going to move it over the screen. So here’s the tier four vendor lists, and you can see them all here showing who they’re going to report to. I would stick with the ones above here, because these are the ones that are going to report. Now, Apple and Costco report as well. And then we’ve got secured cards that I told you about as well. So anyways, go through this, apply for some accounts and you’ll be good to go. So take immediate action.