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Wells Fargo Secured Business 2 entitys APPROVED Need help!!!!


CrystalCreditBall
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hello everyone and thank you in advance for all of the continued assistance!

 

happy news today had 2 entitys approved for wells fargo secured $500. I have some questions some are a little off base from subject line but ultimately lead back to what i need with these cards. cash is night new business going strong! Spiraling upward! Weeeeeee!

 

1) I am planning to wire $500 to the first entitys secured card, then liquidate this $500 to send to the other entity. So i have $1,000 in secured credit reporting but have only funded with $500, effectively cutting my funding in half. Once both are operational im going to split the $500 load to $250 on each account and just make payments/load accordingly as more billing comes in. Solid plan since money is so tight?

 

2) In an effort to trick the CL increase Artificial Intelligence into a higher unsecured limit in 11 months, I am planning to send a company card to each of the following. An employee in Nigeria, London, Mexico, Philippines, and myself in the USA. This will ping AI system as international company (which we are) showing billing in 5 continents. Employees have been given explicit instructions to buy average of 50cents-$1 in candy per day for their children, 1 gallon of fuel, etc. Im pretty darn certain this trick will work. AS if I was bank AI I would love to see this instead of myself just swiping endlessly in one tiny county in USA.

 

3) In regard to question #2 there are lists of blacklisted countries from doing business with USA. I do not want a card to go to one of these countries because we are in line to be doing future business with government and government contractors. Blacklisted countries could also get my blacklisted. I think im safe in with nigeria card pos swiping but I want to be certain. A lot of bad information on google pertaining to this so plz help.

 

4) In regard to question #1. Is having many secured accounts for personal/business and just shooting my money in circles okay? I was doing this quite a bit a few years ago but have been out of the loop. For example I have 10 accounts with $500 secured and instead of having $5,000 total on 10 accounts I simply fund first account with $500 and shoot it down the line rinse and repeat every month. This pings AI to make it look like i have $5000 in secured accounts being paid with measly $500...?

 

5) Last but not least I need easy way to get credit card money to bank accounts without paying fricken cash advance fees. Most apps including google pay etc do not allow credit and only debit cards. I tried venmo but it doesnt like me, cashapp, zelle etc. Square has me locked out saying 1-2 biz days its been nearly 2 weeks with no replies to my emails. I cant use paypal because i still owe them money from a botched ebay deal over a decade ago. Again money is TIGHT.

 

well thats basically it. I have some other threads to post in some other sections. So I am going to run for now. Excited to see your guys replies. God bless and be safe out there.

 

Kindest regards,

 

 

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23 hours ago, Poor *Admin and our Terms of Service prohibit profanity* said:

I checked to make sure this didn't have the date of April 1, sure hope this post is a really good joke.

 

i dont understand why it would be a joke? It's very detailed and the site unfortunately seems to have lost a lot of traffic. Perhaps i will delete and repost in stickys

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3 hours ago, CrystalCreditBall said:

 

i dont understand why it would be a joke? It's very detailed and the site unfortunately seems to have lost a lot of traffic. Perhaps i will delete and repost in stickys

I'm confused, albeit I am often easily confused, but what exactly are you accomplishing? Please explain as if you are talking to a golden retriever so I can understand. TIA

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2 hours ago, hegemony said:

I'm confused, albeit I am often easily confused, but what exactly are you accomplishing? Please explain as if you are talking to a golden retriever so I can understand. TIA

Dear Hedge,

 

We have been approved to bid on government contracts. The ultimate goal is to expand credit profile as quickly as possible. hope this helps. If not lmk and ill try to rephrase in better detail tomorrow. We have some contracts to bid on gtg. ❤️

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So you are asking a question, while at the same time potentially putting your business at risk. Let alone, your website....is incomplete at best. 

 

If you are a legit business, you would do things the legit way. Not trying to float money between cards, literally opening up a 500.00 secured credit card for what looks like a consulting business....isn't going to do much good for you. You need to obtain large credit lines, which isn't going to happen overnight. Were talking 1-3 years, sometimes even longer than that unless you have money to pony up as a deposit. 

 

Building business credit isn't a race. It takes time, and from what I read, you are trying to rush through this. Especially with the current economic climate, if I were a bank seeing a brand new card being used oversea's with minimal use that would be a flag to me. Yes banks use AI to determine credit limit increases, but you can also have a manual review performed at any time, and it taken away or your card closed for "suspicious" activity. Business credit doesn't work like personal credit does, business credit lenders want to see large transactions on your credit profile, which again is going to take time. 

 

If I were you, and not telling you what to do here, but I would personally slow down. Government contracts is not something you need to dabble in, you need to have a complete understanding of what you are getting into and have deep pockets. Without those two things in place, you will be on the loosing side. Take it from me, as I deal with government contracts on a daily basis, and work for a 600+ million dollar company, we even have challenges at times winning contracts. 

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On 8/17/2020 at 5:33 PM, AlabamaSteve said:

So you are asking a question, while at the same time potentially putting your business at risk. Let alone, your website....is incomplete at best. 

 

If you are a legit business, you would do things the legit way. Not trying to float money between cards, literally opening up a 500.00 secured credit card for what looks like a consulting business....isn't going to do much good for you. You need to obtain large credit lines, which isn't going to happen overnight. Were talking 1-3 years, sometimes even longer than that unless you have money to pony up as a deposit. 

 

Building business credit isn't a race. It takes time, and from what I read, you are trying to rush through this. Especially with the current economic climate, if I were a bank seeing a brand new card being used oversea's with minimal use that would be a flag to me. Yes banks use AI to determine credit limit increases, but you can also have a manual review performed at any time, and it taken away or your card closed for "suspicious" activity. Business credit doesn't work like personal credit does, business credit lenders want to see large transactions on your credit profile, which again is going to take time. 

 

If I were you, and not telling you what to do here, but I would personally slow down. Government contracts is not something you need to dabble in, you need to have a complete understanding of what you are getting into and have deep pockets. Without those two things in place, you will be on the loosing side. Take it from me, as I deal with government contracts on a daily basis, and work for a 600+ million dollar company, we even have challenges at times winning contracts. 

Thank you for the information. What advise do you have on website? Thanks .

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You do understand that Wells Fargo holds the money used to open the accounts, right? Or are you saying you'll fund the first account and then take a cash advance from that card to fund the second? In other words you will essentially max out the first to fund the second? Most banks do not allow 100% cash advance. 

 

It also seems you are vastly underestimating the banks systems and algorithms. 

 

Frankly it seems to me you are setting yourself up to get shut down by Wells faster than anyone in the world. 

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20 hours ago, tomforr said:

You do understand that Wells Fargo holds the money used to open the accounts, right? Or are you saying you'll fund the first account and then take a cash advance from that card to fund the second? In other words you will essentially max out the first to fund the second? Most banks do not allow 100% cash advance. 

 

It also seems you are vastly underestimating the banks systems and algorithms. 

 

Frankly it seems to me you are setting yourself up to get shut down by Wells faster than anyone in the world. 


Exactly.  Even if he's talking about what your talking about, which, as your stated, will never work, he will end up $5,000 + interest in debt.  That's assuming he can even find ten decent secured business cards to apply for.  If he's not talking about successive cash advances to fund successive secured I have no freaking idea WTF he's talking about.
 

I smell and accident waiting for a place to happen.  Happens often with nutjobs.  

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10 hours ago, CrystalCreditBall said:

even if have to load them all with 500 its w.e. i will no worries ❤️


Where will you even find ten decent secured business cards to apply for?  
 

And all those $500 limit cards will look to other potential creditors like you are on food stamps.  

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  • 6 months later...
On 8/19/2020 at 5:39 PM, CrystalCreditBall said:

Thank you for the information. What advise do you have on website? Thanks .

That website is no good, one page, two blocks, you automatically look fraudulent, and you are claiming to do business with govts but have no SSL on your site, its as if you just threw it together. There is a much easier way to get business credit other than what you are trying to do, try www.nav.com and sign up there to see about getting started with business credit with local vendors and also Quill, Grainger, etc.

Edited by AlmostTo800
incorrect word
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