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RE: **BIZ CREDIT** Business Credit Building... The Mother Thread

The last post in this topic was posted 4443 days ago. 

 

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Recap: I opened my biz (C corporation) in 2003.

 

Opened a Biz Phone line (more expensive then a personal line)

 

Used a Different Adress (not a home based biz)

 

Paid $400 or so to DnB (www.dnb.com) for CreditBuilder

added 3 historical vendors to my profile

 

1) furniture store where I bought my desk and chair and filing cabinet

2) The Company I buy Toner from for my printer

3) another vendor, I dont recall (the comapny that designed my logo and stationary?)

 

waited until I got my first phone bill for the corp.

 

Applied at www.staples.com for a biz account, faxed in the printed application with a copy of my phone bill.

 

Approved $750.

 

waited 2 weeks

 

Applied for a cellphone under the business (T-Mobile)

 

approved for 20 lines max. (i wanted one :oops: ) :wink:

 

waited for the first bill to arrive, paid it.

 

Called 800-917-DELL for Dell (www.dell.com) small biz division.

aked the rep about what programs they offer, explained that I have a business that is on DnB, but my personal credit is low FICO because of high balances, etc.

 

He told me "well, sir, all I need to tell you if you are approved is your name, biz name, and biz phone".

 

Got INSTANT APPROVAL for $10,000 (CIT) long term finance.

 

Bought two computers.

 

No SS# or PG was required.

 

Got approval, Some components arrived already, laptop already being delivered tomorrow (if someone is there to accept the delivery). I check the status on www.Dell.com, so I know that the stuff was already sent out.

 

after several "almosts", got the nerver to apply for home depot card based on the biz (No personal info...) recieved 7-10 day screen.

 

Called two days later... APPROVED for $3000+!

 

tried to get an increase on the spot, was transferred to a senior rep, who said that they count not increase the amount now, but would first need to see a 60-90 day pay history, and I could try again at that time.

 

RAN to home depot, got a tempory pass (so i could FEEL the approval :shock: )..... today I spend $2000 there. (now I can finish the apartment rehab, rent them out, and start seeing some money!)

 

I am not positive who issues the Home Depot Commercial Card (Citi USA? Monogram? GE Capital?) it seems that different bank names come up on the website, app, and temporary pass.

 

I'd be happy to share my limited knoweledge with anyone who needs help in this area.

to Reiterate: All the above is WITHOUT a PG, on a NEW Corp.

 

Is this information still any good?

 

The reason why I asked is because it was posted July 23, 2003 so I was thinking that it might be out dated.

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I wouldn't pay for anything that you can do for free.

I have had a LOT of trouble with a few things not related to DNB, it is all straight now, all I have to do is have patience.

 

I never did the phone thing, already had cells under personal and am switching them over the a biz acct,

You don't have to follow their TL's to a T, don't do what you don't need BUT do go for the net 30's 1st, when you have your net 30's reporting then go for other things.

 

Keep in mind that the biggies, Sams Discover, AM Exp and things like that will take a LOT more time, so I would start with getting my EIN # 1st, then a DNB #, net 30's let that age and report, then go for the bigger ones.

 

YMMV when it comes to office depot and staples, those were the 1st 2 I got with 2000.00 CL, there are people that have had N30's showing for a year and only got 750.00 Cl and some that have been flat turned down.

 

The key is to NOT go on app sprees.

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I wouldn't pay for anything that you can do for free.

I have had a LOT of trouble with a few things not related to DNB, it is all straight now, all I have to do is have patience.

 

I never did the phone thing, already had cells under personal and am switching them over the a biz acct,

You don't have to follow their TL's to a T, don't do what you don't need BUT do go for the net 30's 1st, when you have your net 30's reporting then go for other things.

 

Keep in mind that the biggies, Sams Discover, AM Exp and things like that will take a LOT more time, so I would start with getting my EIN # 1st, then a DNB #, net 30's let that age and report, then go for the bigger ones.

 

YMMV when it comes to office depot and staples, those were the 1st 2 I got with 2000.00 CL, there are people that have had N30's showing for a year and only got 750.00 Cl and some that have been flat turned down.

 

The key is to NOT go on app sprees.

 

That exactly what I plan on doing with my phone.

 

I tried doing a search for "net 30's" but came up with nothing. Can you please explain to me what that is?

 

Is a DNB # the same as a DUNS number?

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I wouldn't pay for anything that you can do for free.

I have had a LOT of trouble with a few things not related to DNB, it is all straight now, all I have to do is have patience.

 

I never did the phone thing, already had cells under personal and am switching them over the a biz acct,

You don't have to follow their TL's to a T, don't do what you don't need BUT do go for the net 30's 1st, when you have your net 30's reporting then go for other things.

 

Keep in mind that the biggies, Sams Discover, AM Exp and things like that will take a LOT more time, so I would start with getting my EIN # 1st, then a DNB #, net 30's let that age and report, then go for the bigger ones.

 

YMMV when it comes to office depot and staples, those were the 1st 2 I got with 2000.00 CL, there are people that have had N30's showing for a year and only got 750.00 Cl and some that have been flat turned down.

 

The key is to NOT go on app sprees.

 

That exactly what I plan on doing with my phone.

 

I tried doing a search for "net 30's" but came up with nothing. Can you please explain to me what that is?

 

Is a DNB # the same as a DUNS number?

 

 

 

 

Net 30, is when a vender will give you 30 days on terms, that gives you 30 days to Pay on the invoice.

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The information in the original thread is still more or less correct....

 

as the years have passed and the economy moved into high gear and then slid into recession, guidelines have changed, companies have tightened and loosed and changed the rules....

 

 

you should read that to get an understanding of what is going on, and then check up posts of recent successes and failures to see how the information there has changed over time.

 

BizCredit

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