Anyone Heard of Credit Card Builders?

[Mike V.]

My team leader Dave receives guru advice from a couple of different guys. One in particular is a guy named Jay Conner from the The Private Money Authority. In our attempt to find private money, we came accross Marty Banks from Credit Card Builders. We wanted to make sure this wasn't a scam, but even his guru guy Jay recommended him. To be on the safe side, we wanted to check with you. Does anyone know if either one of these people/companies are legit? Are they reputable? Has anyone had any first hand experience with them individually or together?

Credit Card Builders Claim (according to Dave), that can establish Business lines of credit on behalf of the customer up to $250,000 over the course of a year at a interest of 0% for a fee to their company of $3,500. Does this sound right? I mean how can this be?

Thanks for any help.

[Stanley Whigham]

To fund real estate deals you need unsecured business lines of credit. It is not hard to obtain $100k to $250k of unsecured business lines of credit yourself.  If you have a corporation or llc over 2yrs old, high levels of unsecured lines of credit can be obtained with a strong Dun and Bradstreet Paydex Score, Credit Profile and a "low 5" business bank rating.

Here is what you do:

1) Establish a strong internet presence for your company by listing it on at least 15 sites-- Facebook, LinkedIn, Twitter, Scoop It, Bing, Manta, 411, Google+, Google Places, etc.

2) In addition to your business checking account, open an expense and savings account in the same bank. Purchase a certificate of deposit and borrow against it (now you have a secured loan ).

3) Make regular deposits for 90 days to establish a favorable bank rating.

4) Add higher level trade references to Dun and Bradstreet to provide depth to your Paydex Score (net 30s are usually lower amounts; you'll need higher approvals from your trade references-- 2k to 4k).

5) Upload your company financials to Dun and Bradstreet to complete your file and create a strong credit profile.

6) After 90 days apply for unsecured lines of credit. Here is why you'll be approved:

* a bank has already loaned your business money (secured loan); Dun and Bradstreet, Experian Business and Equifax Business have all reported your loan(s). The secret is to pay back and repeat the secured loan at least 3 times in the 90 day period.

* the added trade references will add credit profile depth, as will uploading your financials

* your deposit activity and use of bank products (cd) shows ability to repay

* bank rating is formed after 90 days of deposit activity