8.
Re: unsecured business lines of credit Apr 3, 2009 10:31 PM
If I had to answer myself this what I would say now:
Many companies will say yes to you with your 680, to get you "in the door". Then they tell you that you need their credit repair program first, for some additional price. The facts are; clients with 700 scores are being denied by some banks, so a 680 score really doesn't stand a chance. I search daily for better programs for my clients and I am yet to find one company to say yes to scores below 700 and
deliver on the promise. There are several ways to repair your credit. Some ways are more expensive than others. You need to analyze your credit and see why your scores are below 700. Getting your score above 700 could be as simple as removing the inquiries from your credit report. We've had scores increase by 10 to 25 points just from inquiry removals. Since you have a Paydex score you might want to try some no PG programs. There are several no PG loans/lines of business credit builder programs out there. We use Magic Credit Builder, the name sounds corny, but I am direct and I over see all my clients files myself. I would advise a business credit builder program and credit repair simultaneously; then moving towards the unsecured credit programs.
Good luck
JDB Financial LLC
