What the heck am I doing wrong?

[andyandmyrian]

Hey, all. Long time lurker. I’ve learned a lot from this site, and it has been instrumental in my journey for stellar credit.

 

That said, I am stumped. I recently applied for a Chase Ink business credit card. My TU score is 783-ish (depends on who is saying it), which is the bureau I had to un-freeze to get my application completed. Been an LLC registered in the state of Michigan since 1/1/2012, with gross revenue of between $500-750k/year. Have business credit cards from Navy Federal ($9k limit-maybe in another thread we can discuss how CU’s can learn how to read a business tax return), BofA ($23k limit) and Caterpillar Commercial (Citi) ($30k limit).  They turned me down, as they said I have no D & B/ Paydex score. Seriously? I know little of paydex, but wouldn’t one of the other CC issuers generate a paydex score? Is this a situation where I have to play with D & B? 

 

FWIW, we’re a small trucking company, with no truck loans. Our equipment is paid for. 

 

Any ideas?

[stroked89coupe]

On 9/24/2020 at 8:25 PM, andyandmyrian said:

Hey, all. Long time lurker. I’ve learned a lot from this site, and it has been instrumental in my journey for stellar credit.

 

That said, I am stumped. I recently applied for a Chase Ink business credit card. My TU score is 783-ish (depends on who is saying it), which is the bureau I had to un-freeze to get my application completed. Been an LLC registered in the state of Michigan since 1/1/2012, with gross revenue of between $500-750k/year. Have business credit cards from Navy Federal ($9k limit-maybe in another thread we can discuss how CU’s can learn how to read a business tax return), BofA ($23k limit) and Caterpillar Commercial (Citi) ($30k limit).  They turned me down, as they said I have no D & B/ Paydex score. Seriously? I know little of paydex, but wouldn’t one of the other CC issuers generate a paydex score? Is this a situation where I have to play with D & B? 

 

FWIW, we’re a small trucking company, with no truck loans. Our equipment is paid for. 

 

Any ideas?

Hey,

 

It looks like most of the cards or accounts posted are PG'd or Personally Gauranteed. These are all based off of your personal credit and often don't even report to the Business Credit bureaus if you have not already take a look at the following article and it may give you some insight. 

 

https://creditboards.com/forums/index.php?/topic/476200-the-new-guide-to-establish-business-credit/

[IvyMgmt]

On 9/24/2020 at 8:25 PM, andyandmyrian said:

Hey, all. Long time lurker. I’ve learned a lot from this site, and it has been instrumental in my journey for stellar credit.

 

That said, I am stumped. I recently applied for a Chase Ink business credit card. My TU score is 783-ish (depends on who is saying it), which is the bureau I had to un-freeze to get my application completed. Been an LLC registered in the state of Michigan since 1/1/2012, with gross revenue of between $500-750k/year. Have business credit cards from Navy Federal ($9k limit-maybe in another thread we can discuss how CU’s can learn how to read a business tax return), BofA ($23k limit) and Caterpillar Commercial (Citi) ($30k limit).  They turned me down, as they said I have no D & B/ Paydex score. Seriously? I know little of paydex, but wouldn’t one of the other CC issuers generate a paydex score? Is this a situation where I have to play with D & B? 

 

FWIW, we’re a small trucking company, with no truck loans. Our equipment is paid for. 

 

Any ideas?

 

So for sure you need to build business credit with 30 net accounts and those without a PG.. some will make you pay for the orders upfront b/c of Covid but they will give you tradelines.. Start with Uline, Quill, Crown (you will have to pay to belong), Summa (you will have to pay to belong), Nav mid and high tier will give you credit lines too..