Deposit Line of Credit from Trade Capital Company?

Question

Has anyone got a deposit loan from Trade Capital Company to get deposits or credit? Have you done the refinance they offer with a bank? Would like to hear experiences. No hate mail from people who couldn't pay their bills, please!

Answer 1

I haven't done this myself, but I met several people who have.  The big account holders have a black VIP-type card that gets them first class upgrades, past lines, etc.  They call it a "palisade black card".  But these are big account holders.  A guy who works with me told me they all have over a million bucks with this company.  I don't think I can afford to roll quite like that.  They'll probably give me a hello kitty card!

Answer 2

I did this when my accountant said I should do it to build my credit without slamming my balance sheet.  It worked like a charm!  I haven't done the refinance part yet, haven't decided if I need it or not.

Answer 3

This has become a more and more common method of building credit without destroying your balance sheet.  I fist saw it ten years ago, and it has become more and more perfected.  If the company stops doing bsuiness with smaller borrowers it would be a good thing, though.  This product is better suited for larger borrowers (corporate).