Jump to content

Sign in to follow this  
BRBiz

Business credit building from scratch.

Recommended Posts

 

Did you have anything reporting when you applied for sunbelt? And do you know if they report to any bureau?

No I didn't.. They don't report any place.

 

Sunbelt reports for us to DNB. Not sure about the other agencies

Edited by OilOperator

Share this post


Link to post
Share on other sites

Haven't reported for me at all. Probably because you have the builder package!

Edited by BRBiz

Share this post


Link to post
Share on other sites

Hi everyone,

 

I'm new to this site, however, have been reading comments/forum for over 4 months. I too have got some serious questions regarding business credit and pg. I joined a program which was supposed to help built business credit. There are 7 steps to attaining high credit business only credit cards and lines of credit so forth requiring no pg, as per the program. The first step being the usual, business info web address, EIN num, D&B etc etc. Well, we have had all this for some years now and have had Ford Credit, Sprint Business, and another account report to D&B, experian business and I'm not sure about equifax. I have not verified our company with D&B, they want too much money to change the status from unverified to verified. However, trades are reporting in due course. While going through the steps of building company credit with the company I joined, in step no 4 they provide a list of beginners credit or easy credit companies that will extend some sort of credit. Staples being one of them. Well, since our D&B paydex score is at 75 and highest credit reporting is $25,000 I thought Staples would extend at least $500 of credit w/o pg. So as per the program, I went on staples site to apply. They came back with a comment saying " we cannot find your company file with D&B", as if I did not exist. So I went ahead and called D&B, gave them my details, and positively enough we were found. The D&B said it must have been an error on Staples end. The end result is that they wanted a pg. They had also advised that business credit with no pg is extended to those companies with sales over $1 million yearly. So I was doomed and disappointed altogether. I went further and cancelled the business credit builder program. I don't have 5 to 10 reporting tradelines. But do have a high credit account reporting and a decent paydex score. Some people boost about having an 80 paydex with D&B but the highest credit line is $1,000 - I really need to separate business from personal and can't seem to find those cc that will extend credit w/o pg. I also need to have more tradelines reported but can't seem to find them. Staples was a great disappointment. Can anyone suggest what to do next - Thanks

Share this post


Link to post
Share on other sites

Interesting.. Sunbelt says they report to D&B and Experian.. She isn't sure when they report though, may only be quarterly or semi yearly..

Share this post


Link to post
Share on other sites

So applied and was approved for the Universal Builder MasterCard from fuelman for a $3k limit.. Already have a $3k limit on another fuelman card.

 

Also placed a order with Quill and Grainger.. I purposely saved those till my reports were up and going to see how long they take to report.

Share this post


Link to post
Share on other sites

Got the Universal Builder Pro card today, tried it today at HD and declined.. Rep said it was coded right so let's see what happens with this card.

Share this post


Link to post
Share on other sites

BRBiz: Congrats on all the continuous success.

 

I m working to build credit now for a 1 1/2 yr old corporation. Just started literally, D&B was charging me $7,500 to assist me adding tradelines and accomplish a good corporate credit report. I m glad i did not go for it.

 

I m getting ready to apply at Mercedez Benz Financial for 3 sprinter vans for the company; will do the Uline,Amsterdam and Graiger to start as you suggested.

 

Whats your take in taking out a Secured loan and a secure credit card under the Business EIN?

Share this post


Link to post
Share on other sites

They were going to charge your $7500??!!! For what?

 

A secured business product can help jump start you business credit building but you want to make sure the loan reports.. Not to many good secured credit cards out there and with any secured product they still want to see good personal credit.

 

With 1 1/2 years in business you could probably forgo the secured option unless you were going to do a $20k line or something.. Start with the basic accounts and the others should come quickly.

Share this post


Link to post
Share on other sites

To help me set up the company credit history and trade lines; imagine that. BRBiz for what i can see , all of the advice and help you provide here to those of us that don't know much you can easily form a Business Consulting Corp and you for sure would achieve a lot of success while helping people too.

 

Thank you.

Share this post


Link to post
Share on other sites

To help me set up the company credit history and trade lines; imagine that. BRBiz for what i can see , all of the advice and help you provide here to those of us that don't know much you can easily form a Business Consulting Corp and you for sure would achieve a lot of success while helping people too.

 

Thank you.

Wow I haven't heard that before but with DNB that wouldn't surprise me!

 

Thanks I appreciate the good words... I actually do some consulting on the side, mostly with contractors and some restaurants.

Share this post


Link to post
Share on other sites

So let me update what I have so far and where I am.

 

Sunbelt rentals..$50K

Amazon Net...$5k

New Egg Net 55..$2K

Fuelman..$3k

Builder Pro Mastercard..$3k

Grainger..$1K

Uline..$1K

MSC Direct..$1K

Quill..$750

Office Depot (Reliable)..$1K

HD Supply..Not sure yet

Share this post


Link to post
Share on other sites

Brb

 

So how long to apply for newegg net 55 and Amazon net. I have two small reporting to experian and three trades reporting to dnb. Also have sunbelt but I haven't rented anything yet. I've only been building for three months.

Share this post


Link to post
Share on other sites

Brb

So how long to apply for newegg net 55 and Amazon net. I have two small reporting to experian and three trades reporting to dnb. Also have sunbelt but I haven't rented anything yet. I've only been building for three months.

How long in biz?

Share this post


Link to post
Share on other sites

 

Thank you so much BRBiz. I have been a long a member and I'm finally implementing the steps for biz credit. I incorporated 03-2011, opened check account -----Applied for Tmobile biz credit w/EIN, the manager pressed so hard for pg but I stuck to my guns and said it was not an option and I would take my biz elsewhere. He approved 1 line with a 50.00 deposit. Iphone 6. I then asked for a CLI for two more lines. I was told no because no pg by corporate biz over the phone. Went back to original salesman in store he asked for bank statement and I gave him the statement, incorporation docs, Paypal docs, and a deadline that I would return the Iphone 6 and eat the 50.00 return charge. A few hours later he approved the two additional lines.

 

Granger-Applied received email of approval today, didn't say the amount.

 

Amersterdam- ordered a few things we needed and I assume we have an account, items will be delivered on 4/30 payment is due 10 days after (will pay once I receive tracking number)

 

My question is: How often should I apply for these initial 5-10 phase 1 net accounts. Should I just chill and wait for these to report, then try for more net 30s?

 

Thank you kindly,

I would wait till you get some reporting.

Interesting approval today... Sunbelt Rentals $40k Limit.

 

 

BRBiz,

 

How did you go by this application? It say PG if less than 2 years in business, Also did you fill out the online application?

Share this post


Link to post
Share on other sites

 

 

Thank you so much BRBiz. I have been a long a member and I'm finally implementing the steps for biz credit. I incorporated 03-2011, opened check account -----Applied for Tmobile biz credit w/EIN, the manager pressed so hard for pg but I stuck to my guns and said it was not an option and I would take my biz elsewhere. He approved 1 line with a 50.00 deposit. Iphone 6. I then asked for a CLI for two more lines. I was told no because no pg by corporate biz over the phone. Went back to original salesman in store he asked for bank statement and I gave him the statement, incorporation docs, Paypal docs, and a deadline that I would return the Iphone 6 and eat the 50.00 return charge. A few hours later he approved the two additional lines.

 

Granger-Applied received email of approval today, didn't say the amount.

 

Amersterdam- ordered a few things we needed and I assume we have an account, items will be delivered on 4/30 payment is due 10 days after (will pay once I receive tracking number)

 

My question is: How often should I apply for these initial 5-10 phase 1 net accounts. Should I just chill and wait for these to report, then try for more net 30s?

 

Thank you kindly,

I would wait till you get some reporting.

Interesting approval today... Sunbelt Rentals $40k Limit.

 

 

BRBiz,

 

How did you go by this application? It say PG if less than 2 years in business, Also did you fill out the online application?

 

Don't worry about when apps say that, just fill them out.

 

Are you talking about the Sunbelt rental application?

I just formed LLC 3 months ago.

 

You could try Amazon or Newegg now but the short time in business may be a issue but really no harm in trying now.

Share this post


Link to post
Share on other sites

 

 

 

Thank you so much BRBiz. I have been a long a member and I'm finally implementing the steps for biz credit. I incorporated 03-2011, opened check account -----Applied for Tmobile biz credit w/EIN, the manager pressed so hard for pg but I stuck to my guns and said it was not an option and I would take my biz elsewhere. He approved 1 line with a 50.00 deposit. Iphone 6. I then asked for a CLI for two more lines. I was told no because no pg by corporate biz over the phone. Went back to original salesman in store he asked for bank statement and I gave him the statement, incorporation docs, Paypal docs, and a deadline that I would return the Iphone 6 and eat the 50.00 return charge. A few hours later he approved the two additional lines.

 

Granger-Applied received email of approval today, didn't say the amount.

 

Amersterdam- ordered a few things we needed and I assume we have an account, items will be delivered on 4/30 payment is due 10 days after (will pay once I receive tracking number)

 

My question is: How often should I apply for these initial 5-10 phase 1 net accounts. Should I just chill and wait for these to report, then try for more net 30s?

 

Thank you kindly,

I would wait till you get some reporting.

Interesting approval today... Sunbelt Rentals $40k Limit.

 

 

BRBiz,

 

How did you go by this application? It say PG if less than 2 years in business, Also did you fill out the online application?

 

Don't worry about when apps say that, just fill them out.

 

Are you talking about the Sunbelt rental application?

 

 

Yes i am taking about sunbelt rental application. Also do they report your credit limit or just usage?

I just formed LLC 3 months ago.

 

You could try Amazon or Newegg now but the short time in business may be a issue but really no harm in trying

Share this post


Link to post
Share on other sites

 

 

 

 

Thank you so much BRBiz. I have been a long a member and I'm finally implementing the steps for biz credit. I incorporated 03-2011, opened check account -----Applied for Tmobile biz credit w/EIN, the manager pressed so hard for pg but I stuck to my guns and said it was not an option and I would take my biz elsewhere. He approved 1 line with a 50.00 deposit. Iphone 6. I then asked for a CLI for two more lines. I was told no because no pg by corporate biz over the phone. Went back to original salesman in store he asked for bank statement and I gave him the statement, incorporation docs, Paypal docs, and a deadline that I would return the Iphone 6 and eat the 50.00 return charge. A few hours later he approved the two additional lines.

 

Granger-Applied received email of approval today, didn't say the amount.

 

Amersterdam- ordered a few things we needed and I assume we have an account, items will be delivered on 4/30 payment is due 10 days after (will pay once I receive tracking number)

 

My question is: How often should I apply for these initial 5-10 phase 1 net accounts. Should I just chill and wait for these to report, then try for more net 30s?

 

Thank you kindly,

 

I would wait till you get some reporting.

Interesting approval today... Sunbelt Rentals $40k Limit.

BRBiz,

 

How did you go by this application? It say PG if less than 2 years in business, Also did you fill out the online application?

Don't worry about when apps say that, just fill them out.

 

Are you talking about the Sunbelt rental application?

 

 

Yes i am taking about sunbelt rental application. Also do they report your credit limit or just usage?

I just formed LLC 3 months ago.

 

You could try Amazon or Newegg now but the short time in business may be a issue but really no harm in trying

I did the app online but I believe I had to also do a paper app for some reason after.. According to Sunbelt they report but I have yet to see it any place and I would notice that amount.. Some here mentioned DNB and maybe Experian.

Share this post


Link to post
Share on other sites

So I have 7 on DNB reporting now with $750 being the largest trade although that will be $2k soon since I believe that is the BuilderPro card. Grainger is also in there at $250 even though I spent under $200.

 

Experian also has the builderpro card at $2k but is also reporting that as the balance so that drops my experian score downto the 20's but once that is update should be back in the 80's if it really even matters.

Share this post


Link to post
Share on other sites

So I have 7 on DNB reporting now with $750 being the largest trade although that will be $2k soon since I believe that is the BuilderPro card. Grainger is also in there at $250 even though I spent under $200.

 

Experian also has the builderpro card at $2k but is also reporting that as the balance so that drops my experian score downto the 20's but once that is update should be back in the 80's if it really even matters.

You said you spent less than $200 with Grainger but they reported you at $250. But you also said you have a credit limit of 1k with them. How did you get or know what your limits are. Also do theses company take your bank account limits into consideration when issuing credit limits.

 

Sent from my SGH-T399N using Tapatalk

Share this post


Link to post
Share on other sites

 

So I have 7 on DNB reporting now with $750 being the largest trade although that will be $2k soon since I believe that is the BuilderPro card. Grainger is also in there at $250 even though I spent under $200.

 

Experian also has the builderpro card at $2k but is also reporting that as the balance so that drops my experian score downto the 20's but once that is update should be back in the 80's if it really even matters.

You said you spent less than $200 with Grainger but they reported you at $250. But you also said you have a credit limit of 1k with them. How did you get or know what your limits are. Also do theses company take your bank account limits into consideration when issuing credit limits.

 

Sent from my SGH-T399N using Tapatalk

 

Yes DNB rounds up or down to certain amounts, never exact amounts. DNB only reports actual usage not limits.

 

They either tell you or you ask what your limit is.

 

Some vendors may request a bank rating during the application process which may or may not affect your limits.

Share this post


Link to post
Share on other sites

Good stuff BRBiz. You are a true pro at this. Showing folks how to build business credit the proper way. Thanks for sharing this information.

Share this post


Link to post
Share on other sites

Good stuff BRBiz. You are a true pro at this. Showing folks how to build business credit the proper way. Thanks for sharing this information.

 

Thanks! Where have you been haven't seen you on the boards lately.

Share this post


Link to post
Share on other sites

Just applied for the BJ's card, less see what happens.. She didnt even ask about a PG. Weird the application ID number is only 4 number long.

Edited by BRBiz

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines