Is Using unsecured lines of credit right for me?

[Account Closed]

Hey Everyone,

Recently we have run into the dilemma of not having the down payment needed to work with hard money on our deals. As a solution, we have spoken with a company that applies for multiple credit cards for a business (using my own credit profile to get approved) for us. The company charges 9% for their services of getting us the funds which they expect to get us approved for 50k. The credit cards would have a 0% APR in the first 12-18 months depending on each lender, after that I am anticipating average credit card rates. Has anyone ever dealt with this kind of company? Could this strategy help me scale my company and also not tie up my personal credit? Or is there some loophole I am missing with this offer? Thanks!

[Steve Vaughan]

Holy 2008 bankruptcy waiting to happen.  No capital.  Hard money. Credit cards. 9% funding fee. I bet this is the program that also charges $3500 up front.

Save some money already. Figure out the high payments in your life like cars, clubbing and eating out and make changes. Whatever happened to good old fashioned hard work and scaling back?