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Maintaining NET 30 Accounts

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Hey Everyone,

 

There are a lot of discussions on acquiring NET 30 accounts, but no much on maintaining those trade lines. On the board we've established that a minimum order of $50 is advised for the first order for most trade lines, and to insure the trade line reports payments for orders made on NET 30 terms payments should be made at least two weeks afterwards. What isn't discussed so much is that the first 90-120 days for a new trade line is an important period towards building a stronger credit profile, and if possible most trade lines should be utilized every month. My question is, if $50 is the minimum for the first order, can subsequent orders be for example $10 a month? Does it vary vendor to vendor or is a certain amount applicable across all trade lines?

 

Thanks

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On 7/6/2020 at 11:11 PM, Kat58 said:

TTT

 

Thanks for the bump.

 

Update: Just got an email from Strategic Network Solutions letting me know that to keep my account current will cost me about $10 a month and give me an increase of $1000 on my NET 30 tradeline of credit. Does anyone have any ideas whether the same applies for other NET 30 tradelines?

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17 hours ago, Nasarawa said:

Thanks for the bump.

 

Update: Just got an email from Strategic Network Solutions letting me know that to keep my account current will cost me about $10 a month and give me an increase of $1000 on my NET 30 tradeline of credit. Does anyone have any ideas whether the same applies for other NET 30 tradelines?

The key with business credit is to obtain it first, then spend large sums. Pay it off when due. Spending 50.00 a month, eventually you will hit a brick wall with some creditors. I would start off reviewing the stickies, there is a lot of good info in those, and it still applies today. The old saying, larger credit limits begets larger limits. 

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