Too much of a "blanket" statement!
New businesses need the net 30's to get started on biz credit.
Maybe once they get past the net 30's and revolving accounts etc etc and
start looking at some BLOC's and leases, ok, maybe the net 30s don't come so much into play but a new
biz has to start somewhere and the net 30's are a good way to begin a good credit profile.
Be careful what you post in because a lot of new members are coming in searching for info and if they read from you
that the net 30's are a waste it will send them in the wrong direction. Its confusing enough these days.
The initial steps to building credit are basic:
set up biz entity
biz phone line
ein and duns number
I have been very successful in my biz credit building and the net 30's helped my ALOT!
I helped my neighbor and now my brother is off to a great start using the same method
that has been outlined here for years and still works today! He just got staples and office depot 2K each
from the net 30's. He needs the office supplies because his biz needs are office supply heavy.
I agree they serve a purpose but can't be relied on as a guarantee to getting credit from Citi and others. A few years ago a Quill - Reliable - Uline trifecta would definitely lead to Staples and others within 6 months. That is no longer true and they often want a PG even 6 or 12 months later. For those not worried about PGs it may make more sense to PG a small Staples or Office Depot account initially and quickly to get those lines established and reporting in conjunction with the Net 30s.
I just don't agree with you.
They still work very well.
I witnessed 2 people go thru the same steps and did get staples and O.D. with no pg. - very recently.
When is the last time you went thru the steps to base your info on? Just curious .
I believe that Net 30 accounts are very important to any one who is trying to build business credit. After getting everything settled with getting your business incorporated getting your EIN#..ect
Think of it this way.. You need to have a foundation. Net 30's would be the foundation your building off of. They help establish your Paydex score. If you try to apply for a gas card without having any trades you will be declined or they ask for a PG. which you don't want to do when trying to separate your personal from your buisness.