Step 5 – Roll Your Credit History Into Revolving Accounts
Once you have enough Net 30 accounts under your belt, offers will begin to come in from credit cards from popular retailers like the Home Depot, Office Depot, Amazon, and Walmart. Most of these offers will be in your company’s name, so you won’t need to deal with personal guarantees or personal credit histories.
Step 5 will require you to open up a variety of different credit cards, and to keep them all paid and current. This will build your credit score, and even get you major lines of credit from big banks like American Express, Discover, VISA, and MasterCard.
By the near-end of Step 5, you will have at least 10 revolving accounts, and at least one of those accounts will have a credit limit of $10,000 or more. On average, you can expect to get around $15,000 per credit limit per major account by the end of this step. Needless to say, establishing over $100,000 in credit is not going to be too much of an issue using this method.
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