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#1 hermes6066

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Posted 01 May 2012 - 08:03 PM

I got a few net 30 venders reporting: Quill , FedEx Office, Grainger (1000), Gemplers(1000), Reliables, Uline(200), Tech Depot (1000), Seton, and Wright Express (750). I have paid all of them twice, all $50 payments. I have been incorporated for 3yrs, and have a paydex score of 80. Im thinking about applying for BP, Chevron, Pep Boys, Northern Tool, and New Egg. I was going to pay them a few times the apply for Staples, Office Depot, Best Buy, and Amazon. Then I was going to Repeat the process until get Home Depot, Lowes, and Sams Club.

If any one have any suggestions let me know or think I should go head and skip a step and start going for bigger accounts now since I have 3 years under my belt.



#2 CB Owners

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Posted 01 May 2012 - 08:07 PM

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#3 Lorentsen

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Posted 02 May 2012 - 07:34 PM

First I want to say, that I speak in general terms. I've known businesses with no credit land big accounts, while I've seen business with very strong credit get denied the exact same account. In the credit world there are exceptions and anomalies, but most businesses are not the exception.

You have two things going, one good and one bad:

Good: Your Corp is three years old, the age of a business makes a difference to creditors.

Bad: You have 9 accounts which you have spent $900 over 3 years, consisting of micro-purchases of $50. That does very little.

You have not shown any ability to make large purchases and pay them on time. Whatever gains you have made by having a 3 year old business, you have lost because if this.

A lot of the people here who run businesses and have major no pg accounts, have invested thousands of dollars building up their credit. They have earned credibilty.

The age of a business is only one piece of the puzzle and a small peice. Creditors look at age, type of accounts, credit limit, size of purchases, payment history and other factors

This idea that if a business opens up a few accounts and spends $50 here and there the floodgates of credit will open, is a fallacy. Few major creditors are going to be excited about extending credit to a business whose history consists of $50. But then why would they be?

A 1 year old business who has made many large purchases and has paid on time, will be more impressive to a creditor.

Creditors are not stupid, especially in a bad economy. You need to make some large purchases if you want creditors to take your business seriously.

But you may get lucky, a few have. Just be prepared for a lot of declines.

#4 sully1975

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Posted 03 May 2012 - 08:21 AM

What field is your business in?

#5 hermes6066

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Posted 03 May 2012 - 09:32 AM

My business provides consulting services, basically connecting sales people to customers (car salesmen, insurance etc.). I also do marketing, advertising, designs, and promotional parties. I want to do real estate on the side but I dont know if I just want to do another company or just DBA under my same company. Especially if i can get big companies like Lowes or Home Depot for materials and supplies.

#6 hermes6066

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Posted 03 May 2012 - 09:42 AM

First I want to say, that I speak in general terms. I've known businesses with no credit land big accounts, while I've seen business with very strong credit get denied the exact same account. In the credit world there are exceptions and anomalies, but most businesses are not the exception.

You have two things going, one good and one bad:

Good: Your Corp is three years old, the age of a business makes a difference to creditors.

Bad: You have 9 accounts which you have spent $900 over 3 years, consisting of micro-purchases of $50. That does very little.

You have not shown any ability to make large purchases and pay them on time. Whatever gains you have made by having a 3 year old business, you have lost because if this.

A lot of the people here who run businesses and have major no pg accounts, have invested thousands of dollars building up their credit. They have earned credibilty.

The age of a business is only one piece of the puzzle and a small peice. Creditors look at age, type of accounts, credit limit, size of purchases, payment history and other factors

This idea that if a business opens up a few accounts and spends $50 here and there the floodgates of credit will open, is a fallacy. Few major creditors are going to be excited about extending credit to a business whose history consists of $50. But then why would they be?

A 1 year old business who has made many large purchases and has paid on time, will be more impressive to a creditor.

Creditors are not stupid, especially in a bad economy. You need to make some large purchases if you want creditors to take your business seriously.

But you may get lucky, a few have. Just be prepared for a lot of declines.


I'm trying to take baby steps when it comes to a lot of this stuff. I was think about applying at BP, Chevron, Pep Boys, Northern Tools, and New Egg. Do you know if all of them still report? And to who? I read on here that with Pep Boys you have to PG the account now. Do recommend anything else before I go to bigger accounts seeing the ones I have now

#7 sully1975

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Posted 03 May 2012 - 09:57 AM

So, there is no credit unions to assist you with either a loan or LOC that you do not need at all? Even if it is a share reserved one with some monetary like collateral?

Don't you think having too many trivial cards makes you look strange?

I am an Electrical and mechanical contractor, so with a fleet of trucks 26k in gas, fleet, and auto related look not out of place. One job last month used up 3k in gas alone driving back and forth.

Well, if you are in marketing or consulting, wouldn't office cards, and printing companies make you look better? I heard there is a D&B reporting printer in NJ, I am going say Majestic I believe. others claim that vistaprint supposedly reports as well.

I am thinking outloud on this one.

#8 hermes6066

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Posted 03 May 2012 - 10:23 AM

So, there is no credit unions to assist you with either a loan or LOC that you do not need at all? Even if it is a share reserved one with some monetary like collateral?

Don't you think having too many trivial cards makes you look strange?

I am an Electrical and mechanical contractor, so with a fleet of trucks 26k in gas, fleet, and auto related look not out of place. One job last month used up 3k in gas alone driving back and forth.

Well, if you are in marketing or consulting, wouldn't office cards, and printing companies make you look better? I heard there is a D&B reporting printer in NJ, I am going say Majestic I believe. others claim that vistaprint supposedly reports as well.

I am thinking outloud on this one.


I dont have the best of credit, I have some negative items falling off in the next couple of months. Thats why Im holding off LOC or Loans. Im trying to build up my business and personal credit before I go that route. Yeah I realize that what Im trying to do is outside of what I normally do for my type of business but Im just using them as a stepping stone for bigger things.
Any companies that you recommend I apply to for where im at now in the process?

#9 Lorentsen

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Posted 03 May 2012 - 12:50 PM

Any companies that you recommend I apply to for where im at now in the process?


Herein lies the problem, you focus too much on the *number* of accounts you have, not on the quality of the accounts you do have. Look at the accounts you have listed wanting to apply for, are you going to use them all? Are you going to make large purchases? Or you just going to make more $50 purchase and move on to the next string of accounts?

It is not the number of accounts you have, but the quality of the accounts you do have that ultimately builds up your credit. Apply for accounts your business *needs* and use them to build up your credit. Show creditors that you can make serious purchases and pay them on time.

Are you not making large purchases because your business has no money? To be honest, I find it odd that you make such small purchases over such a long period and yet you want even more accounts. Are you looking for big credit accounts to be a source of capital to fund some business venture?




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