To maximize your credit limit on preset limit cards, follow the 3X CLI rule: 1. First month: Keep your balance between 10-30% of the maximum limit at any point during the billing cycle. 2. Second month: Increase your balance to 40-60% of the limit if desired. 3. Third month: Maintain a balance between 40-60% of the limit and ensure you meet any bonus requirements. 4. At the 91-day mark: Request a 3x increase on your current limit. Make sure your balance is $0 at the time of the request, and ensure all payments are fully posted, not just pending. 5. Once approved for the increase, mark a date on your calendar 181 days after this date to request the next CLI. 6. Months 4 to 9: Ideally, cycle the card once a month, but at minimum, do so every 3 months. 7. Your CLI will be 3x the newest limit. For example, if your limit is $2,000 on January 1st, you can request a CLI to $6,000 on April 1st, and then to $18,000 on September 29th. Please note that this strategy is specifically recommended for the Amex Blue Business Plus card. It is not necessary to follow this approach for personal cards, as Amex is not typically relied upon for high-limit preset cards. Regarding preset limits, it is advisable to not exceed a total exposure of $35,000 across all Amex preset limit credit cards, unless you are comfortable with potentially undergoing a financial review. For charge cards (such as Platinum, Gold, Green, Plum, and Black Card), there is no preset limit. The spending power on these cards automatically adjusts on a monthly basis, eliminating the need for CLI requests. I hope this clarifies the information for you. Let me know if you have any other questions!

Repairing business credit involves a series of steps aimed at improving your company's creditworthiness. Here are the steps you can follow: 1. **Review Your Business Credit Reports**: Obtain copies of your business credit reports from major credit bureaus such as Experian, Equifax, and Dun & Bradstreet. Check for any errors or discrepancies. 2. **Dispute Errors**: If you find any inaccuracies in your credit reports, dispute them with the respective credit bureau. Provide documentation to support your claims. 3. **Pay Bills on Time**: Ensure that all your business bills, including loans, credit lines, and vendor accounts, are paid on time. Timely payments positively impact your credit score. 4. **Reduce Outstanding Debt**: Try to pay down any existing business debts. High levels of debt can negatively affect your credit score. 5. **Establish Trade Lines with Suppliers**: Work with suppliers who report to credit bureaus and establish trade lines. Paying these suppliers on time can help improve your credit score. 6. **Increase Credit Limits**: Request higher credit limits from your creditors, but make sure not to use the increased credit. This can lower your credit utilization ratio, positively impacting your credit score. 7. **Keep Credit Utilization Low**: Aim to keep your credit utilization ratio (the amount of credit you're using compared to your credit limit) below 30%. 8. **Maintain a Positive Credit History**: Keep older accounts open and maintain a good payment history. The length of your credit history can positively affect your credit score. 9. **Separate Personal and Business Finances**: Ensure that your business credit is separate from your personal credit. This can help protect your personal credit score and improve your business credit profile. 10. **Monitor Your Credit Regularly**: Keep an eye on your business credit reports regularly to track your progress and catch any new errors. 11. **Work with a Credit Repair Company**: If you're struggling to repair your credit on your own, consider working with a reputable credit repair company that specializes in business credit.

"If you have a business partner or spouse, you have the opportunity to apply for a business credit card together, as long as both of you own at least 25% of the company and have excellent credit scores. For instance, let's say you have an LLC where the husband and wife each own 50%. The husband can apply for the Chase Business Ink Unlimited card and be approved for a credit limit of $25,000. Similarly, the wife can also apply for the same card using her own social security number and the same EIN (Employer Identification Number), and obtain another credit card with a $25,000 limit. This means that with just one LLC, you can have a total credit limit of $50,000 at a 0% interest rate. It's important to note that this strategy can be beneficial, and rewarding 🔥

Getting into Navy Federal Credit Union can be achieved through family affiliation if you have direct family members who are military or already members of Navy Federal. It's important to note that direct family members refer to those who are directly related to you in your family tree, such as parents or siblings. Uncles and cousins do not qualify for family affiliation. However, even if you don't have direct family members who are eligible, there is still a way to potentially become a member of Navy Federal. The key is to think a few steps ahead and find a way to reverse engineer the process. This may involve explaining to a family member why you are interested in joining Navy Federal and demonstrating the value it offers. Keep in mind that not everyone may understand the full extent of the benefits provided by Navy Federal, so it may require some effort to convince them. Another option is to become a member through the household membership program. If you have a friend who is already a member of Navy Federal, you can utilize their access code, the last four digits of their social security number, and their address to apply for membership. When contacting Navy Federal to request membership, you can mention that you are interested in switching banks because your roommate has recommended Navy Federal for its excellent loan products. This approach may help to build a relationship with Navy Federal and increase your chances of becoming a member. If your current address on your identification and other documents does not match your roommate's address, there is still a way to navigate this situation. You can follow these steps: activate your debit card and maintain your account without applying for any additional products for a period of 60 days. After the 60-day period, you can change your address to your correct address (such as your mom's house, as indicated on your PBID), which matches the address on your credit reports. Once your address is updated, you can confidently apply for credit products.

Navy Federal Credit Union (NFCU) is the largest credit union in the nation and is known as "The House of High Limits." It is highly regarded for its ability to help individuals build credit. In this lesson, we will learn how to become a member of NFCU, even if you are not affiliated with the military or have any relatives in the military. NFCU has certain rules that should be followed when applying for credit cards or credit limit increases. The 91/3 rule suggests waiting at least 91 days and ensuring that 3 billing cycles have closed before attempting any other credit-related activities at NFCU. This rule emphasizes the importance of allowing sufficient time for billing cycles to complete. There is a belief that applying for credit cards during late-night hours when the NFCU credit underwriting office is closed may increase the chances of instant approvals and higher credit limits. However, the significance of the time of day is debated, and it is generally believed that credit approvals are primarily based on factors such as a solid credit report, verifiable personal identification information, and a good relationship with NFCU. NFCU offers various credit products with high limits and no documentation requirements. The Navy Federal Flagship Credit Card has a limit of up to $80,000 without requiring extensive documentation. Other cards, like Cash Rewards, have maximum limits of $50,000. It is recommended to stick to Visa/Mastercard network versions of the cards and avoid Amex network cards. NFCU also provides personal loans up to $50,000 with no documentation required, home improvement loans up to $50,000 without verifying home ownership, and auto loans up to $100,000 with excellent rates. NFCU offers credit builder products, such as the "Pledge Loan," which is a savings-secured loan that helps generate a positive installment account on your credit profile. This loan does not require a credit check and can be opened even with bad or no credit. Additionally, NFCU offers a secured credit card that helps build credit and can graduate to higher limits and better cards, such as the Flagship, after holding the Cash Rewards card for a year.