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Business credit building from scratch.

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update:

Quill

Grainger

Uline

MSC Direct

Amsterdam

Supplyworks

Seton

Fedex

Demco

Vista Print

Office Depot

Apple

DiGi-Key

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Does anyone have any info on getting net30 vendors to report your ACTUAL credit limit and NOT just the BALANCE owed???? I've been actively ordering with over 6 vendors- ULINE, MSC, GRAINGER, QUILL, Seton, BP (pgd) and Chevron (pg) and paying on time for over 5 months now and 4 starter vendors are only reporting credit limit $50/high balance $50. Instead of the $1000 credit limit I was approved for. Please help how do I fix this. I was denied by Amazon net55 and revolving credit stating trade line limits not sufficient. I'm a newbie and business has only been open for about 8 months.. Spark Card capital one $2k limit is reporting on personal side as well. Any advice is greatly appreciated in how do I get these net30 vendors to report actual limit.

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Does anyone have any info on getting net30 vendors to report your ACTUAL credit limit and NOT just the BALANCE owed???? I've been actively ordering with over 6 vendors- ULINE, MSC, GRAINGER, QUILL, Seton, BP (pgd) and Chevron (pg) and paying on time for over 5 months now and 4 starter vendors are only reporting credit limit $50/high balance $50. Instead of the $1000 credit limit I was approved for. Please help how do I fix this. I was denied by Amazon net55 and revolving credit stating trade line limits not sufficient. I'm a newbie and business has only been open for about 8 months.. Spark Card capital one $2k limit is reporting on personal side as well. Any advice is greatly appreciated in how do I get these net30 vendors to report actual limit.

From what I understand thats how they report .Now we have to start spending more to show higher bal ....its actually rounded off

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B10, do you think it matters the amount that you spend when it comes to the vendors reporting to DnB and Experian,

yes the higher amount reported. The better.

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B10, do you think it matters the amount that you spend when it comes to the vendors reporting to DnB and Experian,

yes the higher amount reported. The better.
If the amount does not get reported to D & B and Experian, what difference does it make how much you spend?

It's all about how much credit lines you have, no?

 

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D&B and Experian only show the high amount of your purchases for that reporting period not your limits. So if you spent a $100 that's what would report. Credit limits don't show or matter on those two reports.

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B10, do you think it matters the amount that you spend when it comes to the vendors reporting to DnB and Experian,

yes the higher amount reported. The better.
If the amount does not get reported to D & B and Experian, what difference does it make how much you spend?

It's all about how much credit lines you have, no?

 

Sent from my LGLS755 using Tapatalk

they will show how much your statement balance is

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B10, do you think it matters the amount that you spend when it comes to the vendors reporting to DnB and Experian,

yes the higher amount reported. The better.
If the amount does not get reported to D & B and Experian, what difference does it make how much you spend?

It's all about how much credit lines you have, no?

 

Sent from my LGLS755 using Tapatalk

they will show how much your statement balance is
It's let's say I make a large purchase now, will this have a positive affect in a few months down although by that time I will have only small amounts showing on my statement?

 

Sent from my LGLS755 using Tapatalk

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B10, do you think it matters the amount that you spend when it comes to the vendors reporting to DnB and Experian,

yes the higher amount reported. The better.
If the amount does not get reported to D & B and Experian, what difference does it make how much you spend?

It's all about how much credit lines you have, no?

 

Sent from my LGLS755 using Tapatalk

they will show how much your statement balance is
It's let's say I make a large purchase now, will this have a positive affect in a few months down although by that time I will have only small amounts showing on my statement?

 

Sent from my LGLS755 using Tapatalk

if you let it report then yes

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Probably a dumb question, but is all this business credit building possible with a sole prop?

 

I have a sole prop photography business (ell-oh-ell) with a business checking and a CC at a local credit union, but that's it. Just wondering if this is something I can build out, or if I need to have at least an LLC to try.

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First time posting on this thread but seeing the OP is from NH as well I'll share my info.

 

- Not LLC (looking into it but...confusing!)

- Running as sole prop

- Registered in NH

- Business checking opened in the last month

- Applied for DUNS number few weeks ago

 

So far I've been approved for:

- AMEX Gold Business (charge card); was approved for Platinum but realized I didn't want to pay the annual fee as I won't be traveling any time soon so had them switch

- Lowe's Business Credit $2,000

- Amazon Corporate $3,500

 

I'm trying to avoid any accounts that otherwise would report to my personal account so it's been fun as far as doing the research and see what accounts I would take advantage of with my business while I garden with my personal (I have WAY too many inq's).

Newbie here, hello! I have actually owned business for 14 years, never sought business credit until now - after seeing such encouraging and inspiring posts. Always an LLC with a D&B number.

 

I was recently approved for Amazon corporate revolving line and Sam's Club MC, surprisingly. Did you have to provide pg for the Lowe's and AMEX cards?

 

I cannot afford any HPs on my personal credit due to credit building on that side, so I've been afraid to go after business AMEX, Staples, Home Depot or Lowe's accounts. Pls share!

 

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Closing down the card already?!

Did I miss out on this then? Do you think they'll open it up again?

It's usually not a good sign when they stop taking apps.

 

Not really surprising if it is shut down totally though.

Aww man

Yep..... I was told it's a wrap for BJ's :(

So does anyone know of any alternatives to BJs?

 

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Just applied for the BJs Business World MC couple days ago, wasn't told that they were closing the card. Currently in the 7-10 day app review.

 

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Closing down the card already?!

Did I miss out on this then? Do you think they'll open it up again?

It's usually not a good sign when they stop taking apps.

 

Not really surprising if it is shut down totally though.

Aww man

Yep..... I was told it's a wrap for BJ's :(

So does anyone know of any alternatives to BJs?

 

Sent from my SM-G928T using Tapatalk

Just applied for the BJs Business World MC couple days ago, wasn't told that they were closing the card. Currently in the 7-10 day app review.

 

Sent from my SM-G955U using Tapatalk

 

 

Newbie here, i was curious about this account until i found out they closed it. did they give you a response yet?

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Closing down the card already?!

Did I miss out on this then? Do you think they'll open it up again?

It's usually not a good sign when they stop taking apps.

 

Not really surprising if it is shut down totally though.

Aww man

Yep..... I was told it's a wrap for BJ's :(

So does anyone know of any alternatives to BJs?

 

Sent from my SM-G928T using Tapatalk

Just applied for the BJs Business World MC couple days ago, wasn't told that they were closing the card. Currently in the 7-10 day app review.

 

Sent from my SM-G955U using Tapatalk

Newbie here, i was curious about this account until i found out they closed it. did they give you a response yet?

Definitely a wrap on the BJs business credit. Hopefully they'll get a new services in the near future (???)

 

Sent from my SM-G955U using Tapatalk

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Does anyone have any info on getting net30 vendors to report your ACTUAL credit limit and NOT just the BALANCE owed???? I've been actively ordering with over 6 vendors- ULINE, MSC, GRAINGER, QUILL, Seton, BP (pgd) and Chevron (pg) and paying on time for over 5 months now and 4 starter vendors are only reporting credit limit $50/high balance $50. Instead of the $1000 credit limit I was approved for. Please help how do I fix this. I was denied by Amazon net55 and revolving credit stating trade line limits not sufficient. I'm a newbie and business has only been open for about 8 months.. Spark Card capital one $2k limit is reporting on personal side as well. Any advice is greatly appreciated in how do I get these net30 vendors to report actual limit.

Hi

 

It would appear that credit limits are not recorded on Experian or D&B, which begs the question, why is everyone getting so excited about opening a Dicks Sporting Tractor account (for example !) with a $5k limit.........when they dont want to buy anything from them ??

 

It seems to me, all this net 30 is a waste of time, and money.............its a long time before it actually contributes to anything getting anything tangible, i.e. MONEY ! ?

 

The reporting is hit and miss at best.........and any company you apply to checks your PC if you are under 3 years old company anyway

 

I feel its quicker and easier to get a couple of secured business cards, use them to death, and reply on good old turnover through your bank accounts to get credit..........all banks care about is turnover, thats what gets you big credit, not buying $60 worth of crap for 2 years..............

 

Unless im missing something, things have changed , a paydex may have opened doors ten years ago, now its pretty pointless ?

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WHAT SHOULD I APPLY FOR NEXT?

 

New to building business credit. I've been following the advice of those that have seen success with biz credit. I have had success building initial net 30 accounts. I need to know when to move from Tier I to Tier II.

 

 

This is what I have established (Started LLC in September 2016, started applying to vendors in July 2017):

 

LLC

EIN

DUNS # (used the federal gov. contractor method to establish duns# - They did check and follow up. I made sure that I had business phone, website, EIN, LLC and 411 before I submitted for DUNS)

Business Address (have a friend with physical location so added suite # to his location)

Business phone (Used Segway Communications They also submit for 411 listing)

411 listing

Company Website

Company Email address ( name@companyname.com, duns rep did email me and did call on my business line)

Listing on major search engines (Google, Yahoo and Bing)

 

Initial Credit Lines applied for:

 

  1. Monopolize Your Marketplace ( they have a credit builder program, you buy product and they bill you in 4 monthly payments and I believe they report to all 3 CRA's)
  2. Seton (denied, said I needed to pay for in full for initial purchase)
  3. Uline : approved for 1k (approved for net terms automatically on 1st order)
  4. Quill : approved for 1k (approved for net terms automatically on 1st order)
  5. Granger approved for 2.5K (registered for account, then completed credit app, called couple days later and was approved for 1k decided to ask for more and they transferred me to the credit department and they gave me $2500 limit and I have not ordered yet)

 

CRA's Reporting:

 

Experian is reporting trade-lines (I don't know which vendors are showing.)

D&B (I'm afraid to check my iupdate again for fear of being flagged LOL)

Equifax (Does anyone know of a place to check for free if tradelines showing)

 

Thanks CB, NOW WHAT SHOULD I APPLY FOR NEXT?

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I have been following your steps and I have been able to get 3 vendor accounts thus far.

 

 

 

Uline -- $1K

Granger --$2.5K

Quill -- $1K

 

I was denied by Seton wants me to make a couple orders first.

 

I do have a EIN and DUNS# I was able to get DUNS by registering as a federal government contractor, received # immediately. Although a duns rep did follow up via email and a phone call to by business #.

 

 

I have a tradeline reporting to Experian and I not know if any reports to D&B or Equifax yet.

 

What do you suggest I go for next?

 

Thanks

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update:

Quill

Grainger

Uline

MSC Direct

Amsterdam

Supplyworks

Seton

Fedex

Demco

Vista Print

Office Depot

Apple

DiGi-Key

What type terms of service does DEMCO offer. Do you have to make an initial purchase prior to credit account?

 

Looking at Vista Print Corporate App, should I apply online or give them a call?

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So as many of you know I tried this before just to see if the process of getting approved has gotten better and that was derailed by DNB..We know it has gotten better but let's see how much.

 

I just moved back up to NH so even though I was already registered as a foreign company up here I needed to withdraw that company and re form domestically.

 

I much prefer a Inc over a LLC for credit building but because of taxes ( Yes NH has taxes and actually pretty high for businesses) I formed a LLC.

 

Started with the basics;

Formed LLC

Local business number via freedom voice

Residential address

Company in the construction industry

Listed On Google places and a few other search engines

Placed a order with MSC Direct to get started. I will say I use to say Grainger was the easiest account to get new but I have put MSC direct at the top of the list. You literally create a account online and either call or chat give them your tax id and your instantly have a $1k limit. Also they report very quickly.

 

The one cheating part that may come into play is I was able to transfer my business Verizon account to the new LLC in NH so that may taint the results a little if they report.

 

I need some more promo materials so Amsterdam will probably be my next account.

 

I will update this thread as I go. And I may try to duplicate the results down the road with another company. I will have at least a few more companies for tax purposes, NH has some serious tax on profit over $50k and also doesn't recognize S Corps not to mention a tax on dividends.

Following your lead this is what I have done thus far starting in Mid July:

 

LLC

EIN

DUNS # (used the federal gov. contractor method to establish duns# - They did check and follow up. I made sure that I had business phone, website, EIN, LLC and 411 before I submitted for DUNS)

Business Address (have a friend with physical location so added suite # to his location)

Business phone (Used Segway Communications They also submit for 411 listing)

411 listing

Company Website

Company Email address ( name@companyname.com, duns rep did email me and did call on my business line)

Listing on major search engines (Google, Yahoo and Bing)

Initial Credit Lines applied for:

  1. Monopolize Your Marketplace ( they have a credit builder program, you buy product and they bill you in 4 monthly payments and I believe they report to all 3 CRA's)
  2. Seton (denied, said I needed to pay for in full for initial purchase)
  3. Uline : approved for 1k (approved for net terms automatically on 1st order)
  4. Quill : approved for 1k (approved for net terms automatically on 1st order)
  5. Granger approved for 2.5K (registered for account, then completed credit app, called couple days later and was approved for 1k decided to ask for more and they transferred me to the credit department and they gave me $2500 limit and I have not ordered yet)

CRA's Reporting:

Experian is reporting trade-lines (I don't know which vendors are showing.)

D&B (I'm afraid to check my iupdate again for fear of being flagged LOL)

Equifax (Does anyone know of a place to check for free if tradelines showing)

Thanks BRBiz, NOW WHAT SHOULD I APPLY FOR NEXT?

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update:

Quill

Grainger

Uline

MSC Direct

Amsterdam

Supplyworks

Seton

Fedex

Demco

Vista Print

Office Depot

Apple

DiGi-Key

What type terms of service does DEMCO offer. Do you have to make an initial purchase prior to credit account?

 

Looking at Vista Print Corporate App, should I apply online or give them a call?

 

I didn't purchase prior for any of my accounts. Demco has school library supplies

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update:

Quill

Grainger

Uline

MSC Direct

Amsterdam

Supplyworks

Seton

Fedex

Demco

Vista Print

Office Depot

Apple

DiGi-Key

What type terms of service does DEMCO offer. Do you have to make an initial purchase prior to credit account?

 

Looking at Vista Print Corporate App, should I apply online or give them a call?

 

I didn't purchase prior for any of my accounts. Demco has school library supplies

 

Thanks Rain12

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Not sure if the question I'm about to ask would be better served as its own post, but I thought would be very helpful to other newbies to biz credit so I'm gonna ask. Equifax credit monitoring $20/month is great but asks for personal info (SS, DOB) for ID verification. Shouldn't you avoid providing this information relative to business credit to safeguard against tying the two together??? I recently got subscription to Experian, would love to see what's on Equifax to strategize future money moves but want to safeguard against potential linkage. Pls chime in!

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