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bcd17

New business, Surprised by approvals

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Hey everyone. I've been reading the forums over the last couple of weeks and also reading up on business credit, or how it works over the last few weeks and months and thought I would make this post.

 

Formed my LLC in South Dakota, March 8th, 2017. Created my D&B account March 16th and received my number Mar 31. Up until yesterday I had not applied for any business credit. I have been paying for everything for my business with cash up until this point, which works, but would be nice to have more options.

 

So yesterday I started to create accounts with the basic companies that are mentioned on the forum (I'll list my accounts later). I didn't figure I was going to get approved with amazon with only being open 3 months, but decided to apply to Amazon for net 55. Needless to say I was surprised that I got instant approval for $2000. I was pretty shocked. Decided to apply for the revolving line as well and was not instantly approved, but was not denied either, just said I would get a letter. Hoping to try and call them later today. Decided I'd press my luck with Newegg for Net55. Instant approval again for $2,000.

 

I was 100% sure I had nothing reporting to anyone prior to applying with anyone, but after finishing the apps I checked my D&B with iUpdate and its reporting 1 line reporting with Sales COD. I'm guessing it must be my Ingram Micro account, but not positive.

 

Here is what I have after yesterday:

 

Amazon Net55 - $2,000

Newegg Net55 - $2,000

Amazon Revolving - Not sure yet, but expecting a denied

Strategic Network Solutions - $1,000

Quill - Not sure yet

Uline - Not sure yet

Supply Works - Not sure Yet

Wayfair - Not sure yet.

 

Needless to say it went better then expected. Thanks everyone on the boards for great information.

 

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Did you PG your Amazon account? I tried to do a business account with them but was declined because of the PG. Thanks

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Did you have to PG your Amazon?

I did not PG anything and don't plan on PG'ing anything in the future. I also have a few updates from this morning.

 

Quill - Approved, no prepay, unsure CL

Uline - Received a call to verify a few business details and was approved with no prepay, unsure CL

 

I had also requested Net 30 terms with Ingram Micro on Friday via e-mail and received a call from their financial services and explained to the rep why I need a line and the rep said she would see what she could do and get back to me. About an hour later was approved for Net30 CL $2,500.

 

Does anyone know who, or if Ingram reports to?

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Bcd17 what are you using for a business address? Are you using a Virtual Office or home address etc? Thx

Using my home address. Also it was no PG for Ingram Micro as well.

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Thank you bcd17, you inspired me to try again for Amazon NO PG approved for 5K credit line!!! Also applied for Office Depot- No PG 1K line

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I tried several times with Amazon so Im just going to leave it alone for now. What is Ingram Micro? I have uline already and some gas cards but would love an amazon account. What am I doing wrong?

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I tried several times with Amazon so Im just going to leave it alone for now. What is Ingram Micro? I have uline already and some gas cards but would love an amazon account. What am I doing wrong?

Ingram Micro is one of the electronics distributors I use for my business. Working on getting net terms with my other one now.

 

Edit: Spelling

Edited by bcd17

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I tried several times with Amazon so Im just going to leave it alone for now. What is Ingram Micro? I have uline already and some gas cards but would love an amazon account. What am I doing wrong?

Ingram Micro is one of the electronics distributors I use for my business. Working on getting net terms with my other one now.

 

Edit: Spelling

 

What type of Business do you have? I'm amazed your getting approved so fast.

 

 

Sent from my iPhone using Tapatalk

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I tried several times with Amazon so Im just going to leave it alone for now. What is Ingram Micro? I have uline already and some gas cards but would love an amazon account. What am I doing wrong?

Ingram Micro is one of the electronics distributors I use for my business. Working on getting net terms with my other one now.

 

Edit: Spelling

 

What type of Business do you have? I'm amazed your getting approved so fast.

 

 

Sent from my iPhone using Tapatalk

 

Local business for digital services/VAR/reseller. To be honest I'm also quite surprised about what I have gotten approved for. I'd really like to think I'll get approved for the Amazon revolving, but I'm sure it will be a no. Have a few things I need to purchase that will allow me to offer more services.

Edited by bcd17

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Hello everyone has anyone had an issue with synchrony bank. I reading this thread and I was inspired to apply for newegg and amazon both net55, I was approved for both for 2k each. I was really excited. I have been trying to build my business credit for a while it seems to be going slow. Today I tried to use one of the accounts and it was denied, after talking to a newegg customer service person who told me my account was flagged by underwriting, and I needed to submit some documentation. that was all fine and good, but then she told me it would take up to 30 days, to do something it takes 5 mins to lookup online. I tried to find a way to expedite this transaction but she was not very helpful. I got upset but i was screw it, I will use the Amazon card, i was approved for now that transaction is being denied. :( , anyone had this happen to them? or any suggestions?

 

 

Thanks

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Been meaning to get back here to post an update so here it is.

 

Ingram Micro - $2,500 (Moved to the top since it's the largest line) - Will be placing an order for around $1,500 today

Amazon Net55 - $2,000 - 1 order so far for over $100 (Will have an order in the next month or so for over $900 for some new equipment I need)

Newegg Net55 - $2,000 - 1 order over $100

Amazon Revolving - Denied (No surprise I knew I was pushing my luck)

Strategic Network Solutions - $1,000 - Haven't done anything with it yet, I know they used to report, but do they still? I feel like eventually they are going to get flagged seeing as how you can only use net terms for digital items

Quill - I stand corrected from previous statement, need to make purchases with on time payments before they will report (Placed 1 order for $60-$70)

Uline - Approved for $1,000 (1 order placed for $60-$70)

Supply Works - Approved for $1,000 (Placing an order soon for $60-$70)

Wayfair - Approved for $1,000 (Placing an order today for $120)

Have not applied anywhere else as I figured this was a good start for now. Have been focusing on building up customer base and increasing sales and getting my website finished.

Didn't get any replies, but figure I'll ask again. Does anyone know if Ingram Micro reports and to who if they do? I'm guessing that they probably do, but again that is a guess.

Hello everyone has anyone had an issue with synchrony bank. I reading this thread and I was inspired to apply for newegg and amazon both net55, I was approved for both for 2k each. I was really excited. I have been trying to build my business credit for a while it seems to be going slow. Today I tried to use one of the accounts and it was denied, after talking to a newegg customer service person who told me my account was flagged by underwriting, and I needed to submit some documentation. that was all fine and good, but then she told me it would take up to 30 days, to do something it takes 5 mins to lookup online. I tried to find a way to expedite this transaction but she was not very helpful. I got upset but i was screw it, I will use the Amazon card, i was approved for now that transaction is being denied. :( , anyone had this happen to them? or any suggestions?

 

 

Thanks

 

I did not have those problems, atleast with Amazon anyways, I still need to make purchase with NewEgg.

 

Edit: Spelling

Edited by bcd17

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Another person recently had a similar issue with one of thier new Sync accounts. They may be cracking down.

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Another person recently had a similar issue with one of thier new Sync accounts. They may be cracking down.

 

I'm going to place an order on newegg. I will let you guys know my outcome here in a while.

 

Edit: It wasn't mentioned the previous post by digitalsleep if had gotten his approval papers and account number, but just as a note I have received all of mine.

Edited by bcd17

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Forgot to come back and update. I placed a $740 order with newegg and I've had no issues.

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Just received instant approvals for newegg and amazon for 5k a piece, off of a corp created in 1/2017 to shelter business in texas. Only recently started creating accounts. not using the parent as a factor at all, no-pg. only account we do have is Uline, that I ordered in may, and has been sitting in my office literally taking up space. Everything we've needed we've "purchased" from the parent corp or a subsidiary. in the flooring business.


trying to think of any other sync accounts that have instant approvals. going to run with it!

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Just received instant approvals for newegg and amazon for 5k a piece, off of a corp created in 1/2017 to shelter business in texas. Only recently started creating accounts. not using the parent as a factor at all, no-pg. only account we do have is Uline, that I ordered in may, and has been sitting in my office literally taking up space. Everything we've needed we've "purchased" from the parent corp or a subsidiary. in the flooring business.

trying to think of any other sync accounts that have instant approvals. going to run with it!

Very nice. Let me know if you come up with any others.

 

Like I said in a previous post I've pretty much stopped applying for net terms. Next on my list that I would like is definitely the Amazon revolving, or if I could find any other store cards similar to that. Any suggestions? From what I've read I should probably wait 4-6 months before applying? That's what I've kind of gathered anyways.

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Following up, I submitted my details and got a phone call, then got an email same day, I was good to go. Amazon was no issue ordering. Newegg is an issue, not sure why.

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In store Sams Club Application

 

Sent from my SAMSUNG-SM-G891A using Tapatalk

 

That I did know about, but I'm not sure I'm at the point where I will be approved yet as none of my lines are reporting yet. Right now my highest trade should report at $2000 for Ingram Micro assuming they do report. Newegg will be about $740, Amazon $400, the rest of the starter accounts will be $75-100. But that is whenever they do finally get reported.

 

 

Following up, I submitted my details and got a phone call, then got an email same day, I was good to go. Amazon was no issue ordering. Newegg is an issue, not sure why.

 

Sorry to hear that. Wish I could give you some helpful information, but I was suprised I was able to get Amazon and NewEgg to start with.

 

Any recommendations on how long I should give it for Amazon revolving, or Sam's Club? Like I said earlier, I'm guesing 4-6 mo.

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I decided to sign up for the monitoring with Equifax and Experian and I was pleased to figure out Ingram Micro reports to D&B, Exp, and Equ. Right now for me it is is reporting a high trade of $362 which is what I had in total orders in May. At the time I was paying as I ordered so it showed up as COD on the CRAs. Also a note, I placed my orders on May 23rd and it was reported May 27th to Exp. So when the report this next time for June I'm assuming it should show up as Net 30 now instead of COD and I'm just slightly under $2,000 used out of my $2,500 line, which I think will be good for future credit use.

 

I'm probably going to call them next week and see if I can get a bump in my CL because I'm looking at probably spending over $4,000 in July. Hope you guys find this helpful. I had not been able to find anything on Ingram.

 

Edit: Grammar

Edited by bcd17

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Hello,

 

Found out MSC Direct and Amsterdam Printing dont report. I found a new company called KBC Tools Machinery that reports to D&B. Anybody showing anything different from them?

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