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Click to view Lighthouse24's profile Founders Lighthouse24 2,402 posts since
Oct 10, 2007
15. Re: Secured credit card!? Dec 29, 2007 11:34 AM
in response to: Dereshki
Dereshki, I think this will involve completing three or four programs, each with a fee, over the course of two or more years. In your case (where there seems to be some language and/or distance obstacles that partially prevent you from following the free guidance offered here), maybe working through a fee-based service like that would be a better option for you. I hope you'll keep us posted on the results you get through businesscreditbuilder.com. Good luck.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
16. Re: Secured credit card!? Dec 29, 2007 2:38 PM
For sure! That's the idea if FORUM. I started this service from 3 months. I can say to you for the moment, you must make real business. The owner of a corporate must show he make a real busniss and it's not a facke business. For exemple you need for sure have a physical address! That's the begining of a business. If you use Virtual office or some thing like that, it could be dont work! So start to have a real physical adress. That's normale thing if you make a business.
Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
17. Re: Secured credit card!? Mar 10, 2008 1:45 AM

You can be the guarantor for your corporate card, even as a non-resident alien. If you are incorporated in Nevada, you can even be the President or other officer of the corporation as well.

You will need a US mailing address for yourself individually, and it must be a place where you can truly receive mail and have it forwarded to you. I recommend postnet or UPSstore for this. Then you will need to give this address as your address for the purpose of issuing the card requested.

One of the best cards for this is the debit Mastercard issued by Paypal.com. If you set up a US based paypal account for your business, then request the debit Mastercard they issue, making sure you use all the proper US addresses and an email address designated for that account, you should be able to get the card. You will want to connect the card to the bank account of the company in order to raise the limits, but you need not be the bank account signer in order to do this - you just need definitive knowledge of the bank transactions so that you can verify the account according to Paypal's system.

You can also establish real credit history for your company in the U.S. as a non-resident alien. Your business can borrow large amounts ($25k or more) with no personal guarantee, without even a credit check, if you agree to hold the proceeds of the loan on deposit. Then you can make monthly interest payments for a while before returning the deposited loan proceeds to repay the loan. If you pay down the loan balance in the US with USD you make at your US company, those funds will be available on your paypal card.

This builds business credit in real dollar amounts because it can be done and reported to Dun & Bradstreet and Experian Business Credit. You can have more than one account at a time. You can do the same thing with your personal credit, and have it reported to Experian, Trans Union and PRBC.com.

Also, in both cases, the lender will give you the option of refinancing their loan to you, using a BofA or other bank loan or bank line of credit. To get it done, the original lender will post an amount equal to your deposited funds as collateral with the bank. Now you become the source of a big deposit and a cash-secured loan or line of credit for bofa or another bank, a big leg up. See http://www.creditloader.com/
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
18. Re: Secured credit card!? Mar 10, 2008 12:56 PM
in response to: creditguy
Hi
I dont need Debit card. I had a VISA debit card for my corporate. I dont understand your credit system. However i have seen aloat of corporate who give credit, but you need SSN. I am not interessed to spend money like other fake system and spend money for nothing. I know it's no way to obtain cash from any lender without SSN.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
19. Re: Secured credit card!? Mar 10, 2008 1:29 PM
in response to: creditguy
Off curse i have a business adress, with number on 411.com ( Dereshki, Inc. )
i have a residential address, and i am going to file my corporate 1120 form for IRS and send to him my personal tax, and get a ITIN.
Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
20. Re: Secured credit card!? Mar 10, 2008 3:04 PM
in response to: Dereshki
Incorrect.

Your individual Tax ID Number will work instead of a SSN. This is true with many lenders.

There is nothing "fake" about the money we lend, nor the money lent by bofa and other banks through this operation. Let's keep things polite and professional please.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
21. Re: Secured credit card!? Mar 10, 2008 3:58 PM
in response to: creditguy
Hi...
I dont want be impolite, but i know Us system from few month, and it had many fake things. A loat of peopel propose credit, but he just take my money. I see your website, but i dont understand few things. for the moment am trying to build my business credit with http://www.bcscredit.com/company/contact.php
I pay them about 3500 $, and for the moment he did nothing. so i dont want pay another company to build my credit if it's not sure. For the moment i dont have ITIN, am going to get it in few time.
Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
22. Re: Secured credit card!? Mar 10, 2008 6:08 PM
in response to: Dereshki
I am not familiar with the firm you mention. the firm I mentioned is simply a lender, not some kind of credit wizard. They don't charge anything but interest on loans. Using an ITIN will not prevent you from borrowing in the US, even from BofA or Wells.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
23. Re: Secured credit card!? Mar 10, 2008 6:26 PM
in response to: creditguy
Ok...If i dont have ITIN number i can use your loaner system? ( using Tax ID of my corp )
May i pay for exemple on 2 or 3 years? (25k in 3 or 2 years )
Thank
Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
24. Re: Secured credit card!? Mar 10, 2008 6:34 PM
in response to: Dereshki
Yes, your corporation may borrow, using its EIN only, with no personal guarantee from you. You need only sign as the officer of the corporation. A copy of your passport will be needed. You can borrow $25,000. to hold on deposit, and return it when you want. Corporate loans report to D&B and to Experian Business Credit.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
25. Re: Secured credit card!? Mar 10, 2008 6:41 PM
in response to: creditguy
Nice, but i can pay it in few years? like 2 or 3 years? How much is the fees?
Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
26. Re: Secured credit card!? Mar 10, 2008 6:43 PM
in response to: Dereshki

The note has a 12 month term, but you can renew it each year if you like. The APR is 4.9%. There are no other fees.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
27. Re: Secured credit card!? Mar 10, 2008 6:45 PM
in response to: creditguy
yeas, but the matter is the monthely payment is too much for 12 month. ( about 2000$) I am able to pay about 1000$ -1500$ per month.
Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
28. Re: Secured credit card!? Mar 10, 2008 7:57 PM
in response to: Dereshki
The payment is set to the minimum of interest only. See the payment calculations on the site. After an initial payment of $750, your minimum payment is less than $40. You can pay any additional amount you want to pay toward principal, which is the reflected on the corresponding deposited loan proceeds.
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