Tier 2 Accounts Explained

Hello, and welcome to this module. Tier 2 Accounts Explained. So at this point, we already have established our tier 1 vendor accounts and we are already have a Paydex score more than likely an 80 Paydex score, which is phenomenal. So we establish at least three, ideally five tier 1 accounts that are reporting to Dun & Bradstreet, potentially Experian as well, impossibly Equifax. Okay? You’ve made at least two payments. We’ve ordered things twice. You’ve made at least two payments, and now you’ve had those accounts at least 60 days. And then now you’ve had your DUNS number and your DUNS number has been around at least 7 days. So you’re watching this module at that point in order to do that. So if you’re trying to skip ahead, because you’re a knucklehead and you’re not trying to pay attention, then you’re going to blow this. So if it, if you just apply for your tier 1 accounts and you’re trying to apply for tier 2 accounts, two weeks later, do not do that because you’re going to mess up the process.

I’m going to assume that’s not you. And it’s been at least 60 days because we put a timer in there to make sure that happens before you can even apply. All right? So here’s what we’re going to cover. So we’re going to cover what those tier 2 accounts are and then a tier 2 account goals. So now when we start applying for a tier 2 net terms account, these are going to be the minimum requirements and these are going to be like revolving store cards. So number one, you’ve established at least five reporting accounts, reporting to at least Dun & Bradstreet. So that’s why I kept saying three to five. We ideally want to have at least five reporting on dun and Bradstreet. We also want to make sure it’s been at least 60 days since the third account begin reporting on your file.

Okay? 60 days since the third account has begin reporting. Okay? Do not apply immediately for new credit. Once you receive an 80 Paydex score, you will get denied. Okay? I’m trying to tell you that you want to make sure you have, you wait and you have at least 3 to 5 tradelines showing on your Dun & Bradstreet profile. Okay? And then you can identify this by going to Nav and looking at your nav account, and then just making sure that your Nav account shows. That’s very, very simple. Now, once you have a Paydex score, you want to wait at least seven days before applying for any type of tier 2 vendors, because your file has not, you know, has to be completely up to date and through the system for any creditor to see your full report. So Dun and Bradstreet updates early every Sunday morning at around 10:00 AM.

So you want to check that basically every two weeks in the simplest way to do it as this is to go to your nav account that you’ve already established and then make sure you do that. So if you, in a previous module, establish a Nav account, that’s one vendor unless you got 4 other vendors that will count as 5 vendors reporting to Dun and Bradstreet at the very least. Now, once you have this established, then you’re good to go. Okay. Now just want to make this clear. This is the requirements before you move forward with tier 2 accounts. Now the goal for tier 2, all right, is to get 5 additional tradelines reporting to Dun & Bradstreet, and then they get 5 established with Experian and Equifax. You’re more than likely to get them established with Experian then Equifax. Okay. You’ll also want to make three orders per new vendor and pay early.

No additional purchases are required. So three purchases means I’m going to make three purchases per vendor over the next three months. Okay? And then what this is going to do is secure $1,000 tradeline. Then, all of the work up to this point has been new, is, has been used to help you get the goal of getting the initial part to get to tier 2. Now, getting credit cards and lines of credit with no personal guarantee has happened. And if you want for it to continue to happen, you have to follow the steps in this order in order to make that possible. So the vendors you’ll find here in tier 2, are office construction, industrial supply companies with a few retail and auto companies and mixed in. All right? But that’s going to be what these accounts are. So if you don’t necessarily need to stuff, that’s fine.

You’re not necessarily, but, but I would recommend when you look at the vendor list, the tier 2 vendor lists that you only, that you do your best to choose, choose vendors that you can do something with. Okay? So even if you need to do something with something like personal, like one of them happens to be AutoZone, you might need to get some, some wiper blades or some carwash stuff or whatever the case is, you know, just get it through AutoZone as an example, use it, you know, follow the terms, pay it off. And then boom, that’s something that you can actually get some value out of as an example. So just be creative. But essentially what I’m saying is is that these are those types of accounts. All right. So I’ll see.you in the next module.