Add up to
$250k to your credit Limit
You could improve your credit usage and increase your credit limits with a new business account. Check out offers matched just to you.
Letter of Credit Terms
- Credit limit: $10k – $250k
- Terms: 12 months
- Monthly maintenance: 0.5%
- One time origination fee: 5%
- EIN: Required
How a Letter of Credit Can Help My Business
Enhance Credit Reputation
A Letter of Credit shows other lenders that other lenders deem you to be a good risk and may lead to higher credit lines or larger commercial loans.
Improve Available Credit Utilization Ratios
A lower percentage usage of available credit usually enhances credit scores and may reduce interest rates charged.
Tax Deductible
Loan fees, including origination fees, may be a tax deductible business expense. Business expenses can be used to reduce your taxable income, which lowers your overall tax burden.
Our Guarantees and What We Do Not Guarantee
BLESSING CAPITAL, LLC guarantees all of the following:
- If you’re approved for a business letter of credit we guarantee that it will be posted on your credit report on the next “Reporting Period” which is within 45 days from account opening.
- On all accounts opened, we guarantee that all open accounts will remain on the credit report monthly reporting cycles.
- We guarantee that the account will post to any 2 out of the 3 credit bureaus.
- We guarantee that your credit limit and available utilization ratios will Improve while you are on the tradeline.
BLESSING CAPITAL, LLC does NOT guarantee any of the following:
-
We do not guarantee any positive results on your credit score from opening a Business LOC. You may get a zero point boost or your score may even go down depending on your credit file.
-
We do not guarantee that you will be able to secure any new funding, loans, credit cards, lines of credit or be able to achieve any financial goal based on opening a Business LOC.
-
Our customer service representatives are specifically trained to NOT answer questions about how tradelines may or may not affect your credit score. We do not make guesses as to how many points you may or may not get. We do not guarantee any credit score points and we do not make guesses as to what your score might be or how many tradelines you would need to buy in order to get to a certain credit score. We do not talk about credit scores.
-
We do not guarantee any results beyond getting a tradeline to post as detailed above.
Frequently Asked Questions
What Are Primary Tradelines and How Do They Work?
A tradeline is simply any account that appears in your credit file, including mortgages, auto loans, student loans, and credit cards. Tradelines are important because your credit report depends entirely on how you manage your tradelines, and maintaining a positive credit record is essential for financial success.
There are many ways to add tradelines to your credit record, such as opening a credit card or getting a business loan. The best way to build a positive credit file long-term is to open your own primary tradelines and keep them in good standing by always making payments on time.
Authorized User Tradelines vs. Primary Tradelines
In an authorized user position, the account will appear on someone’s credit report, but the authorized users do not have any financial responsibility for that account. Authorized user accounts can be very costly and will fall off the credit profile within 90 days. Therefore, lenders believe that primary accounts are better than authorized user tradelines when examining a credit profile.
Can a High-Limit Letter of Credit Help Lower Someone’s Overall Utilization Ratio?
Yes, a higher-limit revolving tradeline can help lower someone’s overall utilization ratio. The higher the utilization ratio, the more your credit score will decrease, even if these accounts are always paid on time. Most Lenders would recommend keeping your overall utilization ratio below 30% or even lower.
Phone
(888) 551-5388
Support@Blessing.Capital
Address
4400 E Broadway Blvd,
Tucson, AZ 85711