Capital One Spark Cash for Business Review

August 31, 2017 By Marco Carbajo

Capital One Spark Cash for Business Review

As you know I’m a big advocate for getting business credit cards that only report to the business credit reporting agencies. That’s why I’m so passionate about our Unsecured Business Credit Lines program because it’s specifically designed to help you acquire 4-5 business credit cards that report only to the business credit agencies not personal credit.

However, another type of card that is important for you to be knowledgeable about are business credit cards that build your business credit but also report to your personal credit as well.

In today’s post, we are going to review one of those types of business credit cards that reports to both personal and business credit reporting agencies: The Capital One® Spark® Cash for Business card.

The Capital One® Spark® Cash for Business card is one of the best and easiest business rewards credit card programs out there. In a nutshell, if you want to earn money back on your business expenses then this card may be a card worth checking into to.

What first got my attention is the incentive for opening this card. You get a welcome offer of $500 if you spend $4,500 in the first three months. But what was even more exciting was the 2% cash back on every dollar you spend.

So, in the first 3 months of having this card you can get a total of $590 cash back from the $4,500 spent. A $500 bonus + $90 cash back reward. Not bad at all!
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What is a DUNS Number Used For? Here are 10 Uses

August 17, 2017 By Marco Carbajo

What is a DUNS Number Used For?

Do you know the difference between your EIN and D-U-N-S® Number?

Having trouble determining what is a DUNS Number used for?

In today’s post, we’ll go over ten ways a DUNS Number is used and how it can benefit your company. Whether you’re a startup or existing business in search for credit or funding, a B2B business, a manufacturer wanting to win contracts, a supplier selling goods, or a construction company; after reading this post you’ll know exactly why the D-U-N-S® Number is so important.

First, let’s go over the difference between your EIN (Employer Identification Number) and a DUNS Number (Data Universal Numbering System). Although each of these are 9-digit numbers that identify a business they are not the same and they are used for different purposes.

An EIN Number is issued by the IRS to identify taxpayers who are required to file business tax returns. This 9-digit number is how the IRS identifies your business. In addition to filing taxes, you also use your EIN to open a business bank account, apply for business credit, and apply for business permits.

The D-U-N-S® Number is also a 9-digit number but it’s issued by Dun & Bradstreet, for business credit reporting purposes. The DUNS Number is linked to your company’s business credit profile with D&B; which is used by lenders, suppliers and potential business partners to help determine if a company is creditworthy and/or financially stable.
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Building Personal Credit and Business Credit: 4 Stages of Credit Ability

August 3, 2017 By Marco Carbajo

Personal Credit and Business Credit

How is your credit-ability?

Do you know what types of credit and funding are available to you based on your personal credit and/or business credit profiles?

In this post, we are going to put the puzzle pieces together and show you how to determine what stage of credit ability you are at, what funding vehicles are available at each stage, and how to maximize the credit building process both personally and for business.

One of the most important things I want you to take away from this post is to understand that your credit scores for both personal credit and business credit are not the only factors that banks and lenders look at.
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Before You Get a Business Credit Card Know These 5 Factors

July 19, 2017 By Marco Carbajo

Get a Business Credit Card

Should you get a business credit card?

Did you know using a personal credit card for your business and putting personal expenses on it is a formula for a bookkeeping disaster?

Unfortunately, statistics show that of the 65% of small businesses using credit cards, only 50% of those cards are in the company’s name.

When it comes to keeping personal and business expenses separate, using a business credit card is by far one of the best tools. “There are plenty of benefits to using a business credit card versus a personal credit card for your small business,” says Alison Rouse, a spokeswoman for Capital One. “You’ll also have access to business-specific benefits, such as employee cards and spending controls, and specialty services tailored to meet small businesses’ needs.”
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5 Best Business Credit Building Hacks For Maximum Results

July 13, 2017 By Marco Carbajo

Best Business Credit Building

I’m sure you’ve heard all the same old business credit building tips time and time again. Start with establishing several vendor accounts first; make several purchases; and always pay your invoices on time. We know these rules, and we know there’s much more to it in the real world.

While there is a great deal of tips and information on building business credit on the internet, you may discover that most of the information is either outdated, over simplified or just plain wrong. Now don’t get me wrong, there are lots of good resources (here and elsewhere) that you should read up on before you take action.

Once you’ve got the basics down, here are the best tricks that can help you improve the business credit building process and work your way up into a strong business credit file much faster:

Leverage your personal credit to your company’s advantage

During the initial stage of the business credit building process you’ve probably read that getting vendor credit is the best way to start building your company’s credit file. While starter vendors will certainly get you payment experiences reporting on your file the one trick that can also drastically enhance your company’s credit file immediately is also having revolving lines of credit reporting too.
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