1. What is the minimum credit score for funding?AdminThe minimum fico score is 700 but you must still meet all requirements.
2. How many trade lines are required for funding approval?AdminYou must have at least 3 primary tradelines. Being an authorized user will not qualify you.
3. What are examples of good trade lines for funding?Admin-Credit cards from a major bank such as Chase, Bank of america, or American Express
4. How old does my credit history have to be in order to qualify?AdminCredit History has to be at least 2 years old
5. What does the credit limit on my cards have to be in order to qualify?AdminCredit cards must have a minimum limit of $2,500
6. How many inquiries with the credit bureaus can my profile have?AdminYour credit profile cannot have more than 3 inquiries per credit bureau. If you do, there could be a chance some can be removed for a fee.
7. Can my credit cards have a balance?AdminA balance is fine but credit card utilization must be under 30%
8. What if I have late payments on my credit profile?AdminAny late payments must be 2 years old.
9. What other items on my credit report will get me disqualified?AdminBankruptcies, Collections or tax liens
10. Is the business funding a line of credit or credit card?AdminBusiness funding is in the form of credit cards and comes directly to the client.