How to Start a Credit Card Business with No Money
Sure, consumers can try to avoid credit score shortcomings by paying their debts on time and limiting the number of credit applications they submit to financial institutions. Although payments made on time don’t have an impact on their score as much as late payments, but it keeps them from totally destroying their credit. Every time a company performs an inquiry into a customers credit rating, it lowers their score a tiny bit. There are times, however, when the customer has no cause for the information on their credit report and this prompts the need for a credit repair dispute.
Your new credit repair business opportunity will
flourish because of erroneous or out-dated information on credit
reports. If you offer a viable credit repair service, customers will
flock to you for your help.
When you launch your credit repair business opportunity, the only way you will ever expand into a credit repair franchise is if you have a string of happy customers sending referrals back to you every chance they get. Disclose all information and fees up front. Customers have all kinds of options for businesses that can help them with their credit repair disputes. Charge a reasonable fee. A good deal of your customers will already be in financial distress. They have come to you because they are looking for a way out and not a way further into debt.
To get your business started, offer free credit repair dispute services at the local community centers. These satisfied customers will help to spread the word around about the services that you provided to them. Include in your credit repair business plan automated tools that will allow you to keep in contact with these customers for future business.
In the same community centers and the local libraries, post fliers about your credit dispute services and request that people call to talk to you about how a professional credit repair letter can impact their credit. Use your credit repair business software to organize all the inquiries that you get. Label the ones that just seem to want the information to do it themselves and choose a separate label for the leads that seem hot and want to move forward with your services soon. Set up call backs in your credit repair business software for the hot leads. You can save the cold leads for follow-ups with postcards or some other effort to remind them that your business is still around in the future.
Lastly, recruit family members and friends to spread the word to their friends and colleagues about your new business. Word-of-mouth is the most powerful marketing tool around. People are more likely to do business with a company that they have been referred to than someone they’ve seen a commercial for.