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Establish ssn field

hey it's ty Crandall with credit suite and in this video we're gonna talk about how you can get started with this credit building we're gonna talk about the steps to start initially establishing business credit and of course this is credit this link to your business ein number that's not linked to your personal social security number this is credit that doesn't require a personal credit check this is credit that doesn't require a personal guarantee this is credit that you're going to get high-limit ten twenty thirty thousand dollar corporate credit cards in your business name without the guaranteeing without the credit check that's what we're talking about here when we're building business credit so how do we initially start this well you're gonna start with what are called vendor accounts now there's actually a few different ways to start building business credit but for this purpose we're gonna talk a little bit more about vendor accounts now vendor accounts are also called trade vendors these will report as trade lines on your business credit report we call these trade lines or payment experiences when they show on your business credit port so this is the first tier this is the first tier of credit you're gonna get when you build this it's kind of we refer to this as the vendor credit tier and what this ultimately is is a vendor extend you a line of credit for a certain period of time that you've got to pay them back it might be over 30 days 30 days 60 days 90 days 45 days and then based on that term you've got to pay back the entire balance since you up because so you're able to buy their products buy their services then put it on credit and pay it off within that set time period so what your business needs you can basically defer the payment on a lot of accounts for a month month and a half two months so it eases cash flow constraints because the stuff you've been paying for now office supplies and shipping supplies and computers or printers that kind of stuff you could buy on vendor credit buy yourself some time to have to pay that stuff off and then you're also establishing these trade lines which can help you establish that initial business credit reporting score as well now again some are gonna report for you know net 30 terms fairly easily they're gonna give you no resistance okay others are gonna want to do some verification okay they're gonna want to make sure you have any I in number you're gonna want to have your phone number listed with four one one you can do that through a company called list yourself you can't list yourself through four one one that's why lenders and credit issuers look at it so a lot of these initial vendors are gonna want as basic information as you to have your EIN and for one one okay that's why you've got a set up fund ability I'm not gonna talk about fund ability in this video but I talked a lot about it and you can find out a lot of videos on our YouTube channel on this topic where we talked about the fact that credit issuers have a secret set of standard you must me you know when you go to apply for a credit card you either get an automated approval or you get that dreaded message that you'll hear by mail and seven to ten days which means that they've pushed it for a manual underwriting which typically means a denial you and I school has to be to get you automated approvals that happens by understanding what these credit issuers are looking at and meeting that criteria before you apply not going to discuss all that stuff in this video but you can look on our youtube channel youtube.com forward slash credibility or credit suite YouTube that come forwards us credit suite to find out more about this fund ability and credibility requirements okay you're gonna need to use your social security number and date of birth to start that's for verification purposes only this is brand new in 2018 as of 2018 you are now going to need if the credit card you're getting is issued by a major bank then you're going to need to supply your social security and date of birth for verification purposes only you just need to make sure that you verify with them that you're not will you're not giving them permission to attach a personal guarantee or a personal credit check that becomes very very very important another thing here becomes really really really important is you never want to use a non social security number in a social security number field on an application ever okay it's and again what this is is it's really considered to be a federal offenses you're basically committing fraud and I'm not an attorney and this isn't legal advice but some people ask about things like bogus CPN numbers that stuff is a scam you want to stay away from it because you're not allowed legally to put anything in place of a social security number other than a social security number okay so what this means is it means the goal here is to apply for business credit you only want to supply your social when you know it's for verification purposes only a lot of times the credit issue where even says right on the application that that's all what's being used for if it's a gray area you want to get him on the phone and let him know you'll give them the Social and date of birth for verification but you are not authorizing a guarantee you're not offer us and credit check then what you do is force them to pull the business credit report that's established for this CI n then once you have those initial tradelines reporting on there as we talked about then they can use this business credit profile to get you approved and of course don't forget to never put anything in place that social security number and when you allow a credit check your SSN you're almost always giving a personal guarantee which is why I'm advising it you don't do that so an easy way to do this is just to ask okay did you you know a lot of people don't know if they've done this well did you get credit without signing for it and providing your SSN for any purpose beyond verification that's how you know so I look at real business credit real corporate credit as credit you got without a credit check and without a guarantee that's what it comes down to if you provide your social you're probably attaching both unless it's for verification purposes only so you need to make sure with this new law in 2018 that's required by the government that they're only ever using your social if you have to supply it for the verification not for the credit check it not for the guarantee that's where it becomes very important and that's when you start establishing real business credit without the guarantee without the credit check what's really high limits that you can get really quickly that's kind of the key to getting it so we're gonna go in and other videos and teach you every aspect of this process we're going to talk about getting initial vendor credit we're gonna talk about other ways you can establish initial business credit how to get retail credit cards and visa cards the whole thing in this video I just wanted to give you some of the basics in the beginning that you're gonna be covering as you're starting to build initial business credit have any questions along the way then feel free to give us a ring eight seven seven six hundred two four eight seven that's eight seven seven six zero zero two four eight seven send us an email info at credit suite comm or visit us online credit suite comm we got a great free guide right on our homepage that maps out the steps of building business ready and at the top right of our page you can access all of our social media channels we have hundreds of training videos on YouTube and we go live on Facebook YouTube weekly we release podcast episodes so everything you need to know about improving your fund ability building your business credit for your EIN that's not linked to your social and getting loans and credit lines you're able to get from our website or our social media channels so make sure you check it out at credit suite com