How Does One Build Business Credit

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Comments

  • fenickjfenickj subscriber Posts: 3
    This is one of the best post i`ve read regarding business credit.  Thanks
  • newfoundwealthkingnewfoundwealthking subscriber Posts: 0
    Hello All,
    One thing that a lot of folks here do not understand is that it`s a good thing to buy the Credit Builder Package from DNB.  I have always bought the package and I have ALWAYS  generated a paydex score within the 45 days.  Yes, you could just request one and wait for it come in your email for free, but with the nature of businesses... time is money!! 
    I do operate my very own Business Consulting Company in DC so if anyone might be interested please don`t hesitate to ask.
    Good Luck All!!newfoundwealthking4/22/2008 1:06 AM
  • pagejamespagejames subscriber Posts: 1
    I don`t know if I agree with you, but point taken, NewfoundWealthKing.
     
    Glad you are finding our ramblings helpful, fenickj
     
    Good Fortune, all!
  • pertrainpertrain subscriber Posts: 2
    Can you tell us more about your company?
  • fusefuse subscriber Posts: 0
    As of July 15, 2008 you can no longer get business credit without personally guaranteeing the account if your business has no credit history with the following companies; Staples, Office Depot, Office Max, Dell.  Has anyone else had this problem?  All the account specialist would say is as of July 15, 2008 they changed their credit criteria.  I`m heart broken.
  • focuzmediafocuzmedia subscriber Posts: 0
    Well,
    After Applying with one, Some lady called me and, the funny thing about it was, she was telling me about the packages. She explained to me that there are two ways of getting one. You apply for one and you purchase their package.
    You wait till you do business with a company and they report your rating to DNB.
    So basically, you will get one eventually. The only thing is you wont be able to add trade lines and stuff of that nature.
    Here is something for you guys. I tried opening an account with SAM`s Club and they are one of the hardest people to get credit with. Try elsewhere. Any Suggestions?
    I have T-Mobile under the Corporation`s name now..
      question newbie here one question i have tax id and duns number thanks to info when i call t-mobile do i give them duns or tax id when they ask just need a little clarity on this for all the vendors that i apply for
  • kevin5x5kevin5x5 subscriber Posts: 0
    PageJames gave a lot of very good information. He gave so much it might make your head spin! You have to take it in chunks and the first thing you have to do is build your business foundation so you can get approved for all of that credit PageJames threw at you. If you do not do it right you will get rejected over and over again even though the info he gave you was good.
     
    There are seven steps to your business foundation:
    1. Form a corporation or LLC.
    2. Get a corporate tax id/EIN from IRS (an LLC is a form of corp)
    Do not use a sole proprietor or partnership tax id/EIN
    3. Get a business license from your city
    4.Get a dedicated bus. phone and have it listed with directory assistance.
    5. Open a business checking account (can do w/ $100)
    6. Get a faxline (can get one online for $9.99 a month)
    7. Get your Dunns # from Dunn & Bradstreet
         (800) 825-3867 ext. 1851 Curtis
    After you get all of that you need to start getting creditors to give you a credit line without credit checks who will report to Dunn & Bradstreet. You have to spend $60 or more minimum in one billing cycle to get reported. I will even give you the first one that will give you credit:
    Nebs (office Supplies)
    (800) 722-7090 (credit dept.)

    Contact: Jenny
     
    Read my blog to put it all into perspective:
     http://secretsupercredit.blogspot.com/2 ... redit.html
    Kevin
    [email protected]


     


  • kevin5x5kevin5x5 subscriber Posts: 0
    Regarding the taxid or dunns #, they will tell you what they need. Keep both handy.
     
    Kevin
  • jwmoore78jwmoore78 subscriber Posts: 1
    There are a few companies out there that will help you establish a strong business credit score. Just do a google search.
  • bigmike36bigmike36 subscriber Posts: 0
    you must call the irs and get a ein number for your business a bank account for your business.once that is gotten fax in with application,try staples,easy account office depot,easy account they normally let anyone start .
  • andreal67andreal67 subscriber Posts: 0
    Thank You for the information-really forreal Thank You!
  • Stefen10Stefen10 subscriber Posts: 0
    Establishing business credit is tough, especially for a new business.


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  • ReneePhillipsReneePhillips subscriber Posts: 0 Member
    Good everyone.
    My name Mrs, Renee Phillips, i am from USA CA , i am married, i have been searching for a genuine loan company for the past 2 years and all i got was bunch of scams who made me to trust them and at the end of the day, the took all my money and left me moneyless, all my hope was lost, i got confused and frustrated, i lost my job and find it very difficult to feed my family, i never wanted to do anything will loan companies on net anymore, so went to borrow some money from a friend, i told her all that happened and she said that she can help me, that she knows a loan company that can help me, that she just got a loan from them, he directed me on how to apply for the loan, i did as he told me, i applied, i never believed but i tried and to my surprise i got the loan in 24 hours, i could not believe my eyes, i am happy and rich today and i am thanking God that such loan companies like this still exist upon this fraud stars all over the places, please i advise everyone out there who are in need of loan to go for Mr. Robert .M. Clark Email via ; ( [email protected] ). he did not know am doing this for him,but i just have to do it because a lost of people are out there who are in need for a loan., they will never fails, your life shall change as mine did.

    Thanks and Good Luck.
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