I see what your saying about this sauce, however, if you liquidate the credit card that 100% of the card and it will destroy your credit score because of maxing it out. That would work better if you have a NF card of 25K and liquidate that for the 10K. The hit to your CS won't be that bad.
On the business side I’m guessing he’s referring to/ utilization doesn’t matter on the business side - you’d have to set up your business properly and do a 0% situation im guessing
@@venoldjohnson6909 as long as your making the minimum payment it doesn’t really matter as much on the personal side… you get more funding through banking as a business than you would as a personal entity so I’d rather a ding on mer personal credit to secure a larger amount of funding for my business
This is a bad idea, because your Fico score will definitely drop by 80 points. Due to the high credit utilization. And not to mention the interest rate if it’s at 0%. I’ve been holding a 800/805/807 Fico score for the last 3 years. Best of luck!!!!!
Yes of course! Make the payments with the same money you liquidate… so I would recommend taking out a bit more than $10k.. The monthly payment would be between $200-$300
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I see what your saying about this sauce, however, if you liquidate the credit card that 100% of the card and it will destroy your credit score because of maxing it out. That would work better if you have a NF card of 25K and liquidate that for the 10K. The hit to your CS won't be that bad.
what about that 90 day late payment that going to wreck your shit too right?
Great Information 🙏🏼😊Thank you!!!
Wouldn’t this completely mess up your utilization?
On the business side I’m guessing he’s referring to/ utilization doesn’t matter on the business side - you’d have to set up your business properly and do a 0% situation im guessing
@@venoldjohnson6909 as long as your making the minimum payment it doesn’t really matter as much on the personal side… you get more funding through banking as a business than you would as a personal entity so I’d rather a ding on mer personal credit to secure a larger amount of funding for my business
how long does the bank rating last you? Is it good for 30 days after you pull ya money or how does that work?
30 days 💪🏾 as long as the money is in the account on the statement date for your bank account it will be as if it was in the account the whole month..
This is a bad idea, because your Fico score will definitely drop by 80 points. Due to the high credit utilization. And not to mention the interest rate if it’s at 0%. I’ve been holding a 800/805/807 Fico score for the last 3 years.
Best of luck!!!!!
Game is Game
Does it work the same way for loan
Most loans require 2 years in business, but yes this can help with obtaining a loan !!
So how much would the first three payments of that credit loan be cause I would assume you’d have to make those payments for 3 months?
Yes of course! Make the payments with the same money you liquidate… so I would recommend taking out a bit more than $10k.. The monthly payment would be between $200-$300
@@BigBankInvestments How do you liquidate the cards? What's the easiest way??