The new guide to establish business credit.

[prevostconstruction]

According to what everyone has told me on here is that I would at least do $50 because that will report as $100 on your reports.

 

According to DNB that is not exactly correct. 0 to $74 reports as $50 and $75 to $100 reports as $100 and so on. Just got off the phone with them complaining that my $60 purchase was only reflecting as $50

 

First off I can't believe you called up to complain about that.. That is funny! Secondly honestly it makes no difference if its $20 or $100 no difference in credit building. It's the accounts in the thousands you want to make sure are reporting properly. Once you get around the $5000 high area your in decent shape for getting good accounts.

 

Obviously you have nothing to do but criticize. I have consistently watched you two bully folks around like you are the grand credit gurus. If someone offers up information...let it be. If it is wrong ...say so, but don't criticize someone for their thoughts. Just so happens I have been around this board for sometime and have 12 reasonably high trades with a 95 paydex, so if I complain to dnb about $20 (which you were wrong) that is my business.

 

I don't think there is anything wrong with calling them up. But just make sure you are talking to DNB credibility Corp and not DNB. One is there to help with problems similar to yours and one is there to sell you something. If you call dnb you can ask to be transfered to the other side of dnb. They have been very helpfull when i needed them about an account they kept reinserting that was reporting incorectly. Nice people.

 

Stroked89Coupe, I am glad you made that clarification. My experience in dealing with DNB has been with the credibility corp. Would not want people thinking all of DNB is the same.

[prevostconstruction]

Good luck guys with everything in your business and credit building.... This board has become nothing less then a troll site for the most part, only a handful of people here have any useful info to provide.. Then we have the trolls who watch for years and don't say a word then jump in with this is how you do it type post..

 

All the people who new a good amount are long gone and I see why now! My self included feel free to put the offical ban tag on my username although not neccasary since I won't be back but I know it makes you feel good if you even post this.

 

Brndnh721, I would hate to see someone with your level of knowledge leave the board. You are very informative, but I think people have a hard enough time going through the process of building business credit. So acting cavalier toward them sometimes come off as a kick in the pants. Calm down and start enjoying the process.

[PrinceChristian]

 

Hey Stroked

 

How long did you wait after obtaining the fourth Net 30, before applying for Jiffy Lube, then the Wright Express???

 

Thanks!

 

 

 

 

As soon as it reported to dnb. Jiffy lube is backed by wright express. So their underwriting standards are similar. Typically store branded cards by wex are easier to obtain and is a perfect place to start to get your foot in the door. Just like I did. Once you do this and establish a cupple months of payment history with them they will pretty much approve you for anything. Thats what I did.

 

Thanks man!!! That's exactly what I figured, just wanted to be sure. DnB is just a little slow to report my four starter Net 30s, but its no rush, I'm not in a hurry. Experian and D&B are already reporting two of my four(Reliable, ULine) from September, actually showed in October. But Quill isn't there yet, and Grainger isn't either. But once all four are, which I'm expecting by end of December, then I will app for a Wright Express, and maybe a Valero too since I've heard they are friendly and we just got one in my city.

 

 

 

[stroked89coupe]

Not a problem! Glad I could help!

 

FYI Grainger reports as Whol Electricial Equip

[PrinceChristian]

Not a problem! Glad I could help!

 

FYI Grainger reports as Whol Electricial Equip

 

Very interesting! Because it seems as though they are actually reporting already! So, it would likely be Quill that isn't reporting? However, there are no $1k limits shown. Would I have to actually charge that much before it shows or is the $1k limit something I will simply not see on the DnB report?

 

 

 

[PrinceChristian]

Not a problem! Glad I could help!

 

FYI Grainger reports as Whol Electricial Equip

 

Very interesting! Because it seems as though they are actually reporting already! So, it would likely be Quill that isn't reporting? However, there are no $1k limits shown. Would I have to actually charge that much before it shows or is the $1k limit something I will simply not see on the DnB report?

 

 

 

 

Below are the only 3 reporting so far... Options of accounts, Reliable, ULine, Quill, or Grainger

 

Total# - Total $ - High Credit - Within Terms

 

Whol electrical equip 1 50 50 100%

 

Ret mail-order house 1 50 50 100%

 

Whol service paper 1 50 50 100%

 

 

 

 

[stroked89coupe]

Not a problem! Glad I could help!

 

FYI Grainger reports as Whol Electricial Equip

 

Very interesting! Because it seems as though they are actually reporting already! So, it would likely be Quill that isn't reporting? However, there are no $1k limits shown. Would I have to actually charge that much before it shows or is the $1k limit something I will simply not see on the DnB report?

 

 

 

 

Yeah unfortunatly on dnb they only show how much is used of the total line. And they usually round that either up or down depending on the amount. You know about that though. EQ and EX business show trades differently and I think at least EX shows your actual credit line. One of them does for sure. Maybe both. I would say probably.

[stroked89coupe]

Not a problem! Glad I could help!

 

FYI Grainger reports as Whol Electricial Equip

 

Very interesting! Because it seems as though they are actually reporting already! So, it would likely be Quill that isn't reporting? However, there are no $1k limits shown. Would I have to actually charge that much before it shows or is the $1k limit something I will simply not see on the DnB report?

 

 

 

 

Below are the only 3 reporting so far... Options of accounts, Reliable, ULine, Quill, or Grainger

 

Total# - Total $ - High Credit - Within Terms

 

Whol electrical equip 1 50 50 100% This is Grainger

 

Ret mail-order house 1 50 50 100% I have this trade also. I do not have uline or reliable so this should be quill.

 

Whol service paper 1 50 50 100% This is almost definetly Uline

 

 

 

 

 

 

 

 

Edited your post.

Edited November 21, 2012 by stroked89coupe

[stroked89coupe]

Keep in mind, If I did not mention it in the first post in this thread or you missed it, Once a vendor reports on dnb or EX or EQ business That trade stays there. I have trades that I have not purchased from in over 12 months that still remain. Typically when I was trying to build credit I would make a large purchase of about 200 bucks (Yes thats all you need.My highest line individual line reported on DNb was never over 250.00 throughout my entire credit building process.The reason that have 750 high in my signature is because of the way DNB would merge creditors that reported the same. Example- I had three cards by wex. They all reported under the same description and DNB grouped them together to make it seem like I had a 750 line. Although it clearly showed differently on my report as 3 250 lines. The total was just 750.00) and move to the next creditor. Keep in mind, If you make a smaller purchase with that same vendor it will update with the smaller amount. Same with a larger purchase. What ever you buy when ever you buy it simply refreshes the information. Usually on a Sunday with DNB.

 

 

 

 

EQ and EX business is totally different. Also, When you move to the GECRB and CITI backed accounts, TYPICALLY they focus more on Busines EQ and EX. I have not worried about my DNB reports in a LONG TIME! EX and EQ business also report trades that DNB won't while still reporting trades that DNB will. Many times I have asked creditors if they can pull a EQ or EX business report to overturn a denial. 100 percent of the time I got my wish.

 

 

Creditors that report to business EQ and Ex are creditors like Tractor supply, Sams, Home depot, Both lowes accounts,Staples, Office Depot,Amazon, Northerntool (Which is not being backed by the same creditor as they were in my signature (HSBC)

 

 

 

 

Once you get to the point of not relying on DNB for credit approvals you have made it!

Edited November 21, 2012 by stroked89coupe

[PrinceChristian]

Thanks for the info! Definitely needed as I have been following your path to build my business credit.

 

Did you do the aforementioned, reporting of higher dollar amount balances, before obtaining the WEX cards? And is the Jiffy Lube easier to get than the Wright Express gas card? I know they are both backed by WEX but back when I was denied for the Wright Express last month, after ignorantly applying, they told me to get one I had to make an initial deposit, etc...

[PrinceChristian]

 

Creditors that report to business EQ and Ex are creditors like Tractor supply, Sams, Home depot, Both lowes accounts,Staples, Office Depot,Amazon, Northerntool (Which is not being backed by the same creditor as they were in my signature (HSBC)

 

Once you get to the point of not relying on DNB for credit approvals you have made it!

 

Definitely agree! I would add that Experian was showing that I have 2 tradelines reporting so I would assume, 2 of the following 3 also report to Experian business: Reliable, ULine, Quill. Didn't have Grainger at the time.

 

 

 

[stroked89coupe]

Thanks for the info! Definitely needed as I have been following your path to build my business credit.

 

Did you do the aforementioned, reporting of higher dollar amount balances, before obtaining the WEX cards? And is the Jiffy Lube easier to get than the Wright Express gas card? I know they are both backed by WEX but back when I was denied for the Wright Express last month, after ignorantly applying, they told me to get one I had to make an initial deposit, etc...

 

Those higher trades I mentioned.... (The three 250 trades that totaled to 750) were all wex Cards. So that was reported after I got the wex cards. All of the trades I started with before that we're either 100 or 50 dollar trades. Nothing more. I think I had about 3 trades when I first got wex. I made a post aBout almost every approval. So if you use the search button and search in business credit forum you can see every post I made. Somewhere in those posts probably mentions where I was at in the credit building process.

[stroked89coupe]

Thanks for the info! Definitely needed as I have been following your path to build my business credit.

 

Did you do the aforementioned, reporting of higher dollar amount balances, before obtaining the WEX cards? And is the Jiffy Lube easier to get than the Wright Express gas card? I know they are both backed by WEX but back when I was denied for the Wright Express last month, after ignorantly applying, they told me to get one I had to make an initial deposit, etc...

 

I would think it would be an easier card to obtain simply because jiffy lube purchases would be less of a risk than fuel purchases. I have always thought that and actually that was my first wex card. All of the trades in my signature (between the two revolving and net 30 catagories) are in order from first obtained to last obtained left to right in those two catagories.

 

Applying is not ignorant. It's far from personal credit where you have to watch Inquiry's. I have never worried about inquiry's with business credit. Although they are there, I have never been denied for too many. And I had lots.

[stroked89coupe]

 

Creditors that report to business EQ and Ex are creditors like Tractor supply, Sams, Home depot, Both lowes accounts,Staples, Office Depot,Amazon, Northerntool (Which is not being backed by the same creditor as they were in my signature (HSBC)

 

Once you get to the point of not relying on DNB for credit approvals you have made it!

 

Definitely agree! I would add that Experian was showing that I have 2 tradelines reporting so I would assume, 2 of the following 3 also report to Experian business: Reliable, ULine, Quill. Didn't have Grainger at the time.

 

Grainger will report. It took them a while for me to show up on eq/ex. But I'm pretty sure they did. That's really good that you have some trades showing on eq/ex.

 

What's your entire biz profile look like including age of trades how many trades and time in business (inc date) and what kind of business are you in? If you don't want to share what kind of business you operate then what catagories does your business fall under? Trucking, consulting, entertainment ect.

 

A lot of people just have a general business name and don't really do anything yet. That's cool with me. Although some people disagree lol. I don't think there is anything wrong with that as long as your not intentionally ripping creditors off.

 

Once I get an idea on where your at. I'll tell you where you need to go.

[PrinceChristian]

You can see in my signature my progress and when I obtained what. Just incorporated this year, but actually started company in 2008. Full service marketing agency. Just always reported income on personal taxes, first year was limited $8k, but gradually grew to $50k last year. Still have day job. Ran into the concept of business credit earlier this year so I went for it. Haven't had much time to invest into educating myself till recently.

Edited November 21, 2012 by PrinceChristian

[stroked89coupe]

Sorry. I could not see any sigs on the mobile version

 

 

You need to start shooting for gas cards or cards backed by gas card companies. It looks like you planned on it by reading your sig. You might need a little more age. Not regarding trade lines but simply regarding the age of the business. Once you get in with your first gas card company... and the rest begin to follow....you're golden. Trust me.

 

The cards I would shoot for next is

 

Pep boys (Wex)

And any wright express card. They each have different underwriting requirements so don't think because you were denied by one wex backed card that that will be the same for others. Typically your going to have to get a few regular cards before you try and get approved for a universal fuel card (one with a mastercard logo that can be used at ANY gas station,parts store ect.

 

Also try fleetcor. Man I don't know what it was with these people but I was well established before they approved me. Well established! They kept dening me. The reasons they listed did not make sense. Reconed till i was blue in the face. Finially one day I applied for a universal card and was approved with, at the time,my highest line. Over double what wex currently had us at.

 

Wex will give you what you NEED as long as you show usage. Nothing more. I do understand why.

[prevostconstruction]

Sorry. I could not see any sigs on the mobile version

 

 

You need to start shooting for gas cards or cards backed by gas card companies. It looks like you planned on it by reading your sig. You might need a little more age. Not regarding trade lines but simply regarding the age of the business. Once you get in with your first gas card company... and the rest begin to follow....you're golden. Trust me.

 

The cards I would shoot for next is

 

Pep boys (Wex)

And any wright express card. They each have different underwriting requirements so don't think because you were denied by one wex backed card that that will be the same for others. Typically your going to have to get a few regular cards before you try and get approved for a universal fuel card (one with a mastercard logo that can be used at ANY gas station,parts store ect.

 

Also try fleetcor. Man I don't know what it was with these people but I was well established before they approved me. Well established! They kept dening me. The reasons they listed did not make sense. Reconed till i was blue in the face. Finially one day I applied for a universal card and was approved with, at the time,my highest line. Over double what wex currently had us at.

 

Wex will give you what you NEED as long as you show usage. Nothing more. I do understand why.

 

 

Very good points. If I might add...I had success early with BP Mastercard and Valero. That was with only 2 reporting on D&B and one on Exp. So give them a shot. They were very easy. Just make sure you answer the phone when they reach out. They will want to know a little about your spending projections.

[prevostconstruction]

Sorry. I could not see any sigs on the mobile version

 

 

You need to start shooting for gas cards or cards backed by gas card companies. It looks like you planned on it by reading your sig. You might need a little more age. Not regarding trade lines but simply regarding the age of the business. Once you get in with your first gas card company... and the rest begin to follow....you're golden. Trust me.

 

The cards I would shoot for next is

 

Pep boys (Wex)

And any wright express card. They each have different underwriting requirements so don't think because you were denied by one wex backed card that that will be the same for others. Typically your going to have to get a few regular cards before you try and get approved for a universal fuel card (one with a mastercard logo that can be used at ANY gas station,parts store ect.

 

Also try fleetcor. Man I don't know what it was with these people but I was well established before they approved me. Well established! They kept dening me. The reasons they listed did not make sense. Reconed till i was blue in the face. Finially one day I applied for a universal card and was approved with, at the time,my highest line. Over double what wex currently had us at.

 

Wex will give you what you NEED as long as you show usage. Nothing more. I do understand why.

 

 

Very good points. If I might add...I had success early with BP Mastercard and Valero. That was with only 2 reporting on D&B and one on Exp. So give them a shot. They were very easy. Just make sure you answer the phone when they reach out. They will want to know a little about your spending projections.

 

By the way...I was only 2 months old at the time.

[prevostconstruction]

Sorry. I could not see any sigs on the mobile version

 

 

You need to start shooting for gas cards or cards backed by gas card companies. It looks like you planned on it by reading your sig. You might need a little more age. Not regarding trade lines but simply regarding the age of the business. Once you get in with your first gas card company... and the rest begin to follow....you're golden. Trust me.

 

The cards I would shoot for next is

 

Pep boys (Wex)

And any wright express card. They each have different underwriting requirements so don't think because you were denied by one wex backed card that that will be the same for others. Typically your going to have to get a few regular cards before you try and get approved for a universal fuel card (one with a mastercard logo that can be used at ANY gas station,parts store ect.

 

Also try fleetcor. Man I don't know what it was with these people but I was well established before they approved me. Well established! They kept dening me. The reasons they listed did not make sense. Reconed till i was blue in the face. Finially one day I applied for a universal card and was approved with, at the time,my highest line. Over double what wex currently had us at.

 

Wex will give you what you NEED as long as you show usage. Nothing more. I do understand why.

 

 

Very good points. If I might add...I had success early with BP Mastercard and Valero. That was with only 2 reporting on D&B and one on Exp. So give them a shot. They were very easy. Just make sure you answer the phone when they reach out. They will want to know a little about your spending projections.

 

By the way...I was only 2 months old at the time.

 

 

BP gave me 4000 and Valero gave me 3000. Just make sure to sell your business when they call.

[stroked89coupe]

I have the Bp universal MasterCard. It's through fleetcor. Notice my fleetcor trade in my sig. You are LUCKY you got them when you did.

 

So you have gas cards now. That's good and your further than I thought. Things are going to start changing quickly for you.

[prevostconstruction]

Usage is the main word. When you speak to one of their account reps they will tell you...." we will start you out at $________ and we will see how it goes". After time your usage could bring about a lowering of your line or an increase.

[PrinceChristian]

@ Stroked89coupe, Not sure if you are mistaking me for prevostconstruction?

 

@Prevostconstruction, Wow that's nice! 2 months in business!? And 2 tradelines reporting!? What were the tradelines!? Also, Are these the limits you requested?

Edited November 26, 2012 by PrinceChristian

[prevostconstruction]

I have the Bp universal MasterCard. It's through fleetcor. Notice my fleetcor trade in my sig. You are LUCKY you got them when you did.

 

So you have gas cards now. That's good and your further than I thought. Things are going to start changing quickly for you.

 

Yeah...I think so. So far I have Uline $1000, Quill $500, Gemplers $1000, Reliable ?, Grainger $2000, Office Dept (30 net) $3000, Amazon $3500, MSC Direct $500, Office Max $3000, Cabelas $2000, Shoplet $2500, and BP Mastercard $1000 a week. All in 3 months. However, only 2 reporting so far.

[PrinceChristian]

I have the Bp universal MasterCard. It's through fleetcor. Notice my fleetcor trade in my sig. You are LUCKY you got them when you did.

 

So you have gas cards now. That's good and your further than I thought. Things are going to start changing quickly for you.

 

Yeah...I think so. So far I have Uline $1000, Quill $500, Gemplers $1000, Reliable ?, Grainger $2000, Office Dept (30 net) $3000, Amazon $3500, MSC Direct $500, Office Max $3000, Cabelas $2000, Shoplet $2500, and BP Mastercard $1000 a week. All in 3 months. However, only 2 reporting so far.

 

??? I am baffled! lol... How are Earth have you acquired these with limted/no business credit history???

[prevostconstruction]

I have the Bp universal MasterCard. It's through fleetcor. Notice my fleetcor trade in my sig. You are LUCKY you got them when you did.

 

So you have gas cards now. That's good and your further than I thought. Things are going to start changing quickly for you.

 

Yeah...I think so. So far I have Uline $1000, Quill $500, Gemplers $1000, Reliable ?, Grainger $2000, Office Dept (30 net) $3000, Amazon $3500, MSC Direct $500, Office Max $3000, Cabelas $2000, Shoplet $2500, and BP Mastercard $1000 a week. All in 3 months. However, only 2 reporting so far.

 

??? I am baffled! lol... How are Earth have you acquired these with limted/no business credit history???

 

PERSISTENCE...LOL