Promised $50,000 in corporate credit in 12 months

[BostonTeaParty]

I am in one of those credit building programs and they promise me $50,000 in corporate credit within 12 months if I follow their steps or my money back.

 

Right now my LLC is only about six or seven months old and I have not made any money with my business since I set everything up to get business credit in order to buy a business.

 

Without a personal guarantee is it possible to get this amount of corporate credit in the first 12 months if the business has no profits coming in?

 

Are they leading me on by telling me that because of the years they have done this they have better contacts than others who say it is not possible?

 

Please expand on your answers. Thanks,

 

BostonTeaParty

 

P.S. To guarantee that this post stays up and is not taken down, I promise the admins of the credit board forum that I will not disclose the name of the company who has this program to anyone who asks me, since I do not want anyone else to get hurt in case this company is not good.

Edited February 3, 2010 by BostonTeaParty

[greywolf]

Why pay a scammer, when you can use the information freely available on CB and other sites? Also, why are you building credit for a corporation that has no revenue, isn't that putting the cart before the horse?

[BRBiz]

First off being in business less then two years isn't going to get you that much credit with out a PG, second it is a waste of money you could have gotten all the info here to build your credit and any credit they may get you may be useless to you. They dont have any relationship with any one

[IneedzFunds]

You can pay me, and I can show you how to get $100K+ in six months...Just do not read the links on this board .

 

In alll seriousness, if you can, get your money back from that company as there is more than enough information on this board to get the answers that you need for business credit. $50K in credit lines for Dell products (via Dell Financial Serivces) may not be able to help you, but $50K with an bank credit line may be able to help you do some good (or damage - depends how to take that phrase ;-).

 

As for not using your PG, at this time (and unless someone knows something I don't know - if you do, please post it), you will not be able to get $50K business bank credit lines (this includes CC, LOCs, loans, etc.) without PG within a six month timeframe if you are starting business credit from scratch at this time (1Q 2010). Banks are not trying to take ANY adverse risks against their portfolios at this time.

 

Now, you will be able to get other LOCs from merchants (you can actually get $50K Dell LOC within 6 months - but would you want it?!?!) without PG, but I believe if you are trying to get bank credit lines if you already do not have any business credit lines, you have to, at least, give PG, and possibly other docs (tax returns, financials, etc.). It used to not be like that, but during these economic times, things have changed.

[BRBiz]

You can pay me, and I can show you how to get $100K+ in six months...Just do not read the links on this board .

 

In alll seriousness, if you can, get your money back from that company as there is more than enough information on this board to get the answers that you need for business credit. $50K in credit lines for Dell products (via Dell Financial Serivces) may not be able to help you, but $50K with an bank credit line may be able to help you do some good (or damage - depends how to take that phrase ;-).

 

As for not using your PG, at this time (and unless someone knows something I don't know - if you do, please post it), you will not be able to get $50K business bank credit lines (this includes CC, LOCs, loans, etc.) without PG within a six month timeframe if you are starting business credit from scratch at this time (1Q 2010). Banks are not trying to take ANY adverse risks against their portfolios at this time.

 

Now, you will be able to get other LOCs from merchants (you can actually get $50K Dell LOC within 6 months - but would you want it?!?!) without PG, but I believe if you are trying to get bank credit lines if you already do not have any business credit lines, you have to, at least, give PG, and possibly other docs (tax returns, financials, etc.). It used to not be like that, but during these economic times, things have changed.

 

Dell isn't a starter account not sure why every one thinks they are easy to get, I have 15 trades and a $5000 high and cant get a dell account. Does some one have a secret they want to share

[greywolf]

I've got over $50k in business credit, and I have been a member of CB since May 2009, so yes it is an honest claim '$50k in 12 months'. However, of that $50k-60k, I can really only used $10k of it for running expenses. How often am I going to max out my $5k net 30 Ikea account, or my $6000 net 60 Sears account?

 

Dell is DEFINITELY not a starter account, unless you have prior experience with a premier sales rep, you aren't going to be approved without some significant credit experience.

[IneedzFunds]

Greywolf is definitely correct in that Dell is not a starter credit line. Sorry for any confusion I may caused - just trying to make the point of not paying some business to get info we all get here for free.

[Credit Please]

My nephew fell for this scam a couple of years ago, I told him if they can guarantee you 50k in 6 to 12 months or weeks. Let me give it to you on the back end when I have the 50k or even the 10k. Thats because they are full of it.

[800FICO1]

My advice is too RUN...NOW con artists guaranteeing credit like this. If someone makes a guarantee like this and .......ahhhh let me guess you pay the money up front FIRST....with a money back guarantee if you don't get the 50k......PLEASE. I can't believe people still fall for this Bull$hit. Just do it yourself....and in about a year or better you can have more then 50k but it takes time and patience to build a solid business credit profile.

 

Building your own profile is always best in the long run, you will learn from trial and error.

 

Good luck to you...

[vickilee]

Maybe things have changed since 09, but I wanted to say that in May of 09 I inc my business. In June 09 I needed a new computer for my business, so I called Dell and easily opened a business line of credit...they gave me 5000 CL, or which I was charging around 3000. I do not know if I PG it or not, but they did NOT put a hard ING on my credit report. I never checked the softs so I cant say.

I should also note that I have had a personal account with Dell since 07.....in good standing...so that might have helped.

[cleanmaster]

Hi I was thinking of usuing . a company here in calfornia. is the company your using in calfornia. if you dont mind would you pm me the name of the company.

 

 

thanks

[TrevorHere]

Hi I was thinking of usuing . a company here in calfornia. is the company your using in calfornia. if you dont mind would you pm me the name of the company.

 

 

thanks

 

Welcome to CB, cleanmaster. After you've posted on the board some more, your pms will then been enabled.

[m55]

Its a scam thay will take your money then have you open accounts from a weekly list thay will email you and tell you to spend $60 on each. WORD THE THE WAS ITS THE SAME AS YOU WILL FIND HERE ON (CB) DONT WASTE YOU CASH LIKE I DID. PS DONT DO IT

[cleanmaster]

Thamk you for the warm welcome. I have been reading the board for some time now. its great, and i thnk i can lean alot. i well start looking at all the back post. so i wont ask a question. that as been already ask. again thank you.