Business Credit Tiers

[ceebo44]

Hello All,

 

I would like to start what I believe to be a well needed thread. I have looked over the whole website and seen spread out threads about the different tiers of business credit building. I would like for someone to take the time to spill out the the different vendors in the tiers 1-4 of building business credit so that beginners and other business credit builders will have a reference when applying for credit. Thanks

[SeekingWealth]

All my accounts are recent and this will only work if your company has been in business 2-3 years minimum for TIER 2.

 

TIER 1:

 

Reliable NET 10 (make sure you purchase over $50.00 for them to report) I did $62.00 order to be safe.

ULINE NET 30

QUILL NET 30

Grainger NET 30

Gemplers NET 30

 

 

I purchased from those 5 I then got my paydex of 80 and 5 tradelines reporting on DNB. I still don't see uline reporting to experian yet. So, my experian is blank.

 

TIER 2:

 

Chevron/Texaco, Arco, BP Gas Card (choose one they are all the same company)

Northern Tool (HSBC)

 

This is what I have got so far.

 

Citibank and GE Money bank are the hardest to get approvals for. I think it's because my experian file is not built up yet. HSBC seems like a DNB puller it appears.

Edited November 15, 2009 by SeekingWealth

[greywolf]

Not an easy request...

 

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

 

 

There are MANY more accounts, so maybe future posters can just update this list, and create an on going and up to date list for everyone to use.

Edited November 15, 2009 by greywolf

[greywolf]

Anything in tier two accounts

[TrucknAlng]

Does Reliable and Graingers require you to pay for your 1st order then setup a net 30 with them?

[chnceit]

reliable no. grainger yes, it states that you would need to pre-pay when paying before net 30 terms. and also quill now wants you to pay for a few items up front before net 30 terms.

[greywolf]

Anyone that has a specific question about an account/TL, should make a new post, not post in this topic. You will get more attention that way.

[B&T123]

The business model is a good example even though I just sort of applied for what ever I need on certain days.

 

I currently have a paydex of 76,

 

I applied in this order

Quill 6/09

Uline6/09 (closed now)

Grainger (10/09

sprint ( no deposit, 30 lines, ng pg, no deposit) 11/09

Fedex ( office and shipping) 11/09

Northern tool 11/09

Gemplers (denied) had to prepay, I declined 11/09

Jcpenneys ( denied) 11/09

* I recieved the paydex with just Quill and Uline

 

I have to build up a bit more but, I only order what I need

[aeromaks]

The business model is a good example even though I just sort of applied for what ever I need on certain days.

 

I currently have a paydex of 76,

 

I applied in this order

Quill 6/09

Uline6/09 (closed now)

Grainger (10/09

sprint ( no deposit, 30 lines, ng pg, no deposit) 11/09

Fedex ( office and shipping) 11/09

Northern tool 11/09

Gemplers (denied) had to prepay, I declined 11/09

Jcpenneys ( denied) 11/09

* I recieved the paydex with just Quill and Uline

 

I have to build up a bit more but, I only order what I need

 

When did you apply for sprint? After the paydex showed up or before? Also, for your fedex account, did they require a credit card?

[chnceit]

Not an easy request...

 

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

 

 

There are MANY more accounts, so maybe future posters can just update this list, and create an on going and up to date list for everyone to use.

 

great post greywolf. kudos to you. this post has good info and guidance to build biz credit.

[TrucknAlng]

Just an update... Reliable.com wanted pre-pay since we have a small credit file. Account review in 5-7 months to get the net30.

[chnceit]

Just an update... Reliable.com wanted pre-pay since we have a small credit file. Account review in 5-7 months to get the net30.

 

Thats strange they were my first net 30 account. Were your purchases under $100 and over $50?

[aeromaks]

I was approved for

Uline

Nebs

Quill

FedEx

UPS

 

none reporting yet. Tried gremplers... but told me they wanted prepay.

[SeekingWealth]

I bite the bullet and purchased my experian report. I have 2 tradelines. My credit score is 7 no wonder Citi wont give me credit and that is the report they are pulling. Horrible....

 

My old business was 94 out of 100 I have some work to do.

 

Greywolf I see your score is 34 out of 100 and are getting alot of approvals. Was your score ever this low when you started?

[greywolf]

I think the lowest my score hit was like 24. My highest was 34, which I am very proud of

 

EX is more or less an annoying scab covering a infection waiting to spew puss everywhere. D&B and EQ are the main ones to worry about. Don't completely ignore EX, just don't put too much effort/faith into them.

[greywolf]

Updated list.

 

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

Verizon (no deposit)

Sprint (no deposit)

ATT (no deposit)

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

Costco

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

Apple Leasing

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

Edited November 23, 2009 by greywolf

[chnceit]

Updated list.

 

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

Verizon (no deposit)

Sprint (no deposit)

ATT (no deposit)

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

Costco

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

Apple Leasing

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

 

 

would tech depot be considered to be in 2nd tier or 1st since they are part of office depot?

[greywolf]

Tech Depot is second tier. They almost always need a Paydex, unless you are working with an 'aggressive' rep that needs to make a sale.

 

Often times the best time of the month to purchase something is the end of the month. Most sales reps work on Quota, if they meet the quota they get a bonus (or some form of extra compensation), and if they don't meet the quota they are some trouble. If they need extra sales, and you are looking to buy, it is the perfect match. A lot of times they can push the sale through, I am not saying it is guaranteed.

Edited November 23, 2009 by greywolf

[greywolf]

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

Verizon (no deposit)

Sprint (no deposit)

ATT (no deposit)

Tech Depot

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

Costco

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

Apple Leasing

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

[chnceit]

thanks greywolf. hopefully i get the net 30 from tech depot then they would be my 5th account to gain. ill update when i get word.

[dreloc]

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

Verizon (no deposit)

Sprint (no deposit)

ATT (no deposit)

Tech Depot

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

Costco

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

Apple Leasing

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

Its been a while......Does DNB still require 3 months Of payments from 3 net 30s for a 80 paydex?

[chnceit]

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

Verizon (no deposit)

Sprint (no deposit)

ATT (no deposit)

Tech Depot

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

Costco

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

Apple Leasing

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

Its been a while......Does DNB still require 3 months Of payments from 3 net 30s for a 80 paydex?

 

Good question. I have 5 net 30 accounts now. But I only started in the middle of November. Well I just checked my DNB file and I have not yet generated a score yet. Hopefully some time this month.

[clintbeastwood]

Tier one:

Requirements - DUNS, EIN, 411

Gemplers

Uline

Grainger

Quill

Reliable

Seton

 

Tier two:

Requirements - D&B >4 TLs, Paydex, EX file established with >1 TL,

Staples

Office Depot

Best buy

Valero

Citgo

BP

Verizon (no deposit)

Sprint (no deposit)

ATT (no deposit)

Tech Depot

 

Tier three:

Requirements - D&B >6 TLs, >$500 High TL, EX file with >3 TLs, EQ file established with >2 TLs

Northern Tool

Sunoco

Tractor Supply

Sears

Exxon/mobil

Costco

 

Tier four:

Requirements - D&B >9 TLs, >$2000 High TL, EX file with >5TLs, EQ file with >5 TLs

Key Bank (w/ PG, no personal pull)

Home Depot (w/ PG, no personal pull)

Lowe's

Amazon

Apple Leasing

 

Tier five:

Requirements - D&B 12+, >$5000 High TL, EX file with >10 TLs, EQ file with >7TLs

BMLB

Dell

Any GE backed account

Its been a while......Does DNB still require 3 months Of payments from 3 net 30s for a 80 paydex?

 

Good question. I have 5 net 30 accounts now. But I only started in the middle of November. Well I just checked my DNB file and I have not yet generated a score yet. Hopefully some time this month.

 

I think your paydex is usually recorded after you have about 3 or 4 payments, I've heard it usually takes around 30-60 days from the time you pay your invoices, some companies report faster than others, hell people on here have office depot and staples credit that have yet to report after 6 months....

[greywolf]

Once you have three reporting vendors, with one vendor reporting two payment histories you will be assigned a paydex. There is no time requirement, theoretically you could have a paydex after 1 day.

 

Indeed, some vendors do take a LOT longer than other vendors. Ahem, ALL CITI BACKED ACCOUNTS. For some reason Citi thinks they are above timely reporting. At least they do report, eventually.

[chuff]

i took my time and wrote an ebook with all that information

took me a while

not sure if i want to copy and paste it on here

lol