alpha12

Absolutely, also for newbies trade smart products is like, i dunno, i guess the new place to start out, they are kinda like a prepaid net 30 and they report to EQFX Biz. Of course Grainger etc, and the norms are still in play.

True, true, true,... all true Losartworks, this is exactly what people need to know when they speak of building corporate credit. I'm not sure about Key Bank either. You hit the nail on the head, the one thing I didn't hear you mention, was the aging techniques the, "existing only" entities are using to pad the file. This may be a bit much for CB, but it's a real pleasure to run into someone as knowledgeable as yourself. Thank you very much for your post.

No matter how tough it may seem to get, I think most of us are still very adverse, to paying DNB for anything. However as a credit building method, I will surely say it can make the process speedier. Now business credit as a whole hasn't really changed,The Foundation hasn't changed,but what has changed are the methods to obtaining it have. what I mean is that the methods that are used now are very different from years before.. As an example, someone who has been in business for a while would have certain public filings that were made just incidentally from running the business as normal. These filings would occur at diffent state,county,and federal levels. This is one of the hidden "qualifiers" that the CRA's are using to distinguish the real businesses from the fake ones. People are not on the boards speaking about this, because either they don't know, or aren't willing to let the cat out of the bag just yet. I'm not going to be the first either! Sorry. But you have to expand further than CB to learn those type of insider techniques.. NOT because anything is wrong with our beloved CB, but simply because it's not being discussed here, people have gotten kicked off of CB and labeled as spammers for giving out links to where this information is at.. So for the record BUSINESS CREDIT IS NOT DEAD!

I heard in some states BOA isn't offering any secured cards, they killed the program, but in other states it's still up and running, I'm speaking of Bofa only.. so check around, I don't know if there requirements for the deposit are the same everywhere or different, but worth a few phone calls I'm sure. And just like BrndnH said that is a much easier way to get it done.

Bump. No credit cards offered to new businesses with personal credit in the 600s? Well in my experience you can't just open a business and have a business line in 411 and a business license and get approved for a revolving account. Those days were the wonder years! lol, What I suggest is that you first build your business credit file, An extension of credit, albeit personal or business, is based from a decision made by reviewing that person or businesses repayment history, or more so how that person or business handles debt instruments. This information is provided by CRA'S of course. So if you have nothing on your file the only thing you can do is start with your normal net 30's. Grainger,Uline,Seton,Gemplers,and now,Tradesmartproducts,Azsnacks..etc etc.. once you get some tradelines showing up with these guys then you should be able to apply for like a gas card then eventually Cap One etc... Hope this helps. Keep in mind, vendors change their requirements and policies periodically.. so it's always good to check on CB about what's the latest going on with whom first. Good Luck!

If approved: Who? Trade Smart Products How many reporting on DnB/Experian Biz? 0 Paydex - if available? n/a Credit limit? $1,000 PG? No Terms? Net 30 Provide them additional information/financials? No Application? (online/in store/phone)? Online Other info? I got referred to them by Az Snacks (another Net 30 I already had) they report to Equifax Business only (I called and asked) I'm happy to get approved as this is a brand new corporation I just started, with no trades whatsoever or even a paydex!

Congratulations on finding more stability in your life, marriage will be difficult,and not much different from when you were courting each other..but it has great great benefits. Credit, well make sure your spouse shares in your drive for great credit, recently married myself,and we decided to keep things seperate, and combine them when we deem necessary. Like in the matter of the AU for Age, that's awesome, also over time, when getting a loan, make sure you go with the right one to get a better approval as far as score,interest,etc.. To us it doesnt really matter who takes out the loan, we split things up equally anyway,it's all of course about getting the best terms for the household, no go make some babies! LOL CONGRATS

Man being a new business sucks.. its hard to get anything now. you are almost better of buying a aged corp. i know alot of Cb here dont approve. but if your really trying to build your business, and need things like a truck or other items.. its hard to get approved now. with out waiting 2 to 3 years. just my 2 cents. maybe am just upset right now. i have been hitting alot of road blocks. Or you could just learn to age your own Corp! No need to buy one

Wow never heard that before!...Can you explain why? The only reason why I ask is because,I wasn't too impressed myself when I came across him,but I started ignoring my preconceptions..and found out He has THE BEST and most current info besides the Boards. And I was wondering if anyone has ever I dunno, had a bad experience getting free info from him, I guess? If that's possible? LOL, I guess want to see what people's take on him is, as far as i can tell thus far he checks out very good... any insight or feedback is greatly appreciated from my fellow CB'rs

I've only come across ONE person who gave a clear concise way of getting approved for auto leasing/loan based off business credit, it was on you tube by gboogie, he explained in detail, how to get it done, i don't know if the video is still there, but i havnt come across anyone else, that actually outlined a method to getting this done WITHOUT a pg, Hope this helps. One thing I do recall him saying, is that you need to get with the Fleet Manager, any other sales rep will not be of much help at all.

WOW!! EXCELLENT POST!!! That's what CB is about, people like you, are the reason I stay on the boards! Seriously this is one of the best posts' I Have ever read. I actually have no response except Thank You, and you should be posting a LOT MORE! That is the real way for credit, everybody chasing the next net30, it's needed, but not the end all be all. I agree 110% P.S. I bet you're a corporate attorney! lol, and that is great if you are friend, thanks for taking the time to educate me and others. Valuable and Appreciated

The only place i've seen a list saying what vendors report where are on gboogie's site..Cb has a good list too somewhere lol, but it doesn't say who reports where, also a lot of members, you can ask directly or in a topic, they know because of experience, especially if you have a particular vendor in mind.

I noticed a few things after rereading your post, I understand if you don't clarify as you have already stated, your not going to make certain valuable information public.. I personally and emphasize personally, feel information and education should be free. Even though it's not. You mentioned single member LLC's.... in the beginning of this thread the question was proposed, what's the Best entity for credit, if there is one, and also the question of Single member LLC's are they lazy? I believe you did outline (very well i might add) how even if all the paperwork for the "LLC" is on point, the veil will be/can be pierced as it has only one owner/member, that has solely acted on behalf of the Entity and Knowingly entered into contracts for debt instruments. Cool. The question would be then, how would/if it would change the scenario if using a different entity? Also I agree with you false business credit plus a terrible economic climate has hurt all of us with real business credit. These actual questions (at least by myself) are being proposed by a sense of being cautious due to things getting so tight. There are many of us, who are looking for new ways or better ways to do things "credit wise" not to get credit and default. That in my eyes is a scammer In short I thank you for you post as it was very educational and something to consider. Do you know of any Methods in this area that are "helpful" to those of us as far as furthering our business credit endeavors? I would love to hear from you,

That is interesting..... I would think the possibility exists that an underage person could understand the financial burden of debt..... Also, if a minor was not considered a 3rd party then a collector could say, "Im going to take mommy and daddys house, you will be homeless if they dont pay" and have no consequence because they violated aspects of the FDCPA while speaking to a minor....... My instinct tells me that it would be considered 3rd party disclosure. Since the collector had not spoke with the debtor they might be subject to 1692b (obtaining location information). If so then the collector would have violated that section of the FDCPA: § 804. Acquisition of location information 15 USC 1692b Any debt collector communicating with any person other than the consumer for the purpose of acquiring location information about the consumer shall— (1) identify himself, state that he is confirming or correcting location information concerning the consumer, and, only if expressly requested, identify his employer; (2) not state that such consumer owes any debt; If the collector would not be subject to obtaining location information: § 805. Communication in connection with debt collection 15 USC 1692c ( b ) COMMUNICATION WITH THIRD PARTIES. Except as provided in section 804, without the prior consent of the consumer given directly to the debt collector, or the express permission of a court of competent jurisdiction, or as reasonably necessary to effectuate a postjudgment judicial remedy, a debt collector may not communicate, in connection with the collection of any debt, with any person other than a consumer, his attorney, a consumer reporting agency if otherwise permitted by law, the creditor, the attorney of the creditor, or the attorney of the debt collector. A child is not a party that the debt collector is allowed to disclose the debt to. The act also uses the word "person" but provides no definition, which leaves it up to argument...... IMO, a child is a "person" and the debt collectors actions in the OP would be a violation of the FDCPA. Took the words right out of my mouth!!! Good job!

Good post...thanks for your insight