Tier 3 Accounts Explained

Hello, and welcome to this module. Tier 3 Accounts. Explained. So at this point we already have our tier 2 accounts. We have our tier 3 accounts and we should have about 8 to 10 accounts already reporting on our Dun & Bradstreet profiles and also our Experian profile. So let’s go ahead and start talking about and getting into implementing and applying for tier 3 accounts. So here’s what we’re going to cover. Number one, I’m going to break down what this store credit type is. Then I’m going to get into the business credit card without an SSN or social security card, and then checking your credit report, which is a really, really common thing we need to make sure we’re continuing to do using nav.com and then what our goals are for tier 3 credit accounts. Okay? So tier 3 accounts are what we call store credit.

So very similar to the tier 2 accounts. These tier 3 accounts are going to really be specifically with stores. So what we’re going to do is start to get more diverse with the types of credit that we start applying for. And it’s going to be a little bit more challenging because they’re going to make sure unlike the first two tiers, the qualifications are a little bit higher. So at this point you already have a credit optimized company cause you did that and you have ideally at least 8, I would say 8 to 10 vendors already reporting to all three bureaus, specifically Dun & Bradstreet. And your Paydex score should be between 80 and a 100. And the way you get the higher Paydex scores was by paying early. Now, if you’ve done everything up to this point correctly, congratulations, because now your company is going to be properly represented in a credit market.

And now what we want to do is start positioning your credit file to get even more credit files and more seasoning on your actual corporate credit file, before we start getting into those higher best credit card offers in tier 4. And then what we want to do is make sure that lenders have time to find your company and then extend these offers out to you. So this is why this process is done, the way it’s done. Now, what we want to do is start applying for the tier 3 net term accounts with all of these requirements are met. Now, number one, we wanna have at least 5, I would say ideally, 8 tradelines reporting to Dun & Bradstreet. The credit files are established with Experian and Equifax because the way we do that is by applying with Dun & Bradstreet. And then it’s going to report that information.

We also want to have made 3 orders per new vendor and paid early with no additional purchases. Okay? So we’ve made three purchases from all the vendors that we’ve had. We’ve also secured at least a thousand dollars plus and tradelines, probably more that’s at this point, if you’re using your tracking sheet, you’ll be able to identify that and then you’ll be good to go. Because the overall goal for tier 3 is to strengthen and establish your, your basically your accounts and apply for a few more credit lines. And then most of these vendors are going to offer net 30 terms and revolving retail or gas fleet slash business credit. So all of these are going to be really, really good. So when in doubt, just pick up the phone and call them so you can figure out what exactly you need to know regarding applying for that particular account.

Now, the goal of this module is to work through some of the tier 3 credit techniques and get your business credit profile ready for tier 4. So every tier builds up on itself, which is why you just can’t go from, I created my business credit to go. I mean, my, my, my corporation is going to tier 4. You just won’t be able to do that cause you’re going to put yourself in their foot. So once you get to the tier 4 level, this is the level which the banks and the lenders o purchase your company’s credit profile from the credit bureaus and seek out your companies with credit, they seek out your company for offers very similar to what they do on a personal side. So what we’ve done is I’ve developed a proven track worker to help fast track yourself through tier 3 and tier 4 unsecured revolving lines of credit.

But what I’m going to do is outline in this module, how you do that. So that way you have a clear understanding. So again, just up to this point, you’ve been doing a good job following the blueprint. What you want to do is continue to follow the blueprint. So now what we’re going to do is start with the cards. So when we look at the business card without a social security number, how do we do this? Well, first off, there’s several different cards out there that are issue that you can get without a personal guarantee. And your company will, at this point, potentially be able to qualify for business credit cards, with no personal guarantee, by enhancing your credit files with the three primary credit bureaus first, before you can, your business can be considered creditworthiness. It’s almost like this. Like if they’re going to look at your business credit report, and if you don’t have a beefed up in a business credit report, they’re going to always default to the personal guarantee.

But if your, your business credit report is beat up enough is going to avoid the personal guarantee or the social security card. I mean, so security number. So that’s why we want to make sure once we’ve gotten a well established history with the vendor terms and the net terms and the retail store credit. Then we can get the revolving credit and then higher credit lines and then potentially a business owner or at least, but it’s in that order. So what we have to do is this part of the equation. It only takes typically most companies 3 to 5 years to get here. But before you get to this point, I’m showing you how to really fast track this process in a matter of months, versus it taking 3 to 5 years, to get here. So make sure you’re being very, very specific with the purchases that you make and you’re paying all your bills on time.

So you want to make sure, obviously you’re checking your credit reports. You can do that with nav.com. You want to make sure and confirm before applying that you have an 80 Paydex score on Dun & Bradstreet. Your credit files are open with both Experian, Equifax, and you have at least 5 to 8 or more tradelines reporting on all three bureaus. So if you follow my blueprint, I told you to get at least 5 in the tier 1. And then I told you to get at least three to five in the tier 2. So you should have on a minimum 6 to 10 tradelines reporting, and they should be reporting all three bureaus, specifically, Dun & Bradstreet. And you will have a Paydex score. If you don’t have one at this point, then there’s something terribly wrong. All right? So you want to call Dun & Bradstreet and figure that out.

But at this point, if you’ve been following the system, you should have a Paydex score. So what’s the goal of tier 3. Now the goal is to get 7 tradelines reporting to Dun & Bradstreet. You want to get 3 tradelines reporting to Experian and Equifax. And you want to make 3 orders per new vendor and pay early. Just like with tier 1 and tier 2. Okay? The goal also is to get at least 2000 plus tradelines. And this is the blueprint you want to be working for. So you want to get 7 tradelines in this particular module reporting to Dun & Bradstreet, and then making purchases. 3 purchases to all of those order. I mean, all of those vendors. And then you want to make sure you’re getting at least 3 tradelines reporting to Experian and Equifax. Because again, they’re not always going to report to all three bureaus. Okay? So this is the goal of tier 3. I’ll see you in the next module.