Reply
Valued Member
HappySoda
Posts: 56
Registered: ‎10-10-2012

Advice for first business credit card?

[ Edited ]

I'm going to be starting a business in the next 6 months and figure I will eventually need a business credit card to establish some history. I'd like a head start before I get deep into the business. I do have my EIN, dba and board of equalization paperwork filed but as far as a legitimate business goes, I am not one yet. Can anybody tell me about the steps they took to establish business credit? Should I wait until I'm actually selling products or is it something I can start now?

 

I have 740ish FICOs across the board and don't know if personal credit will be used to establish my business credit. First steps you took would be appreciated. I plan to look online as well but figured with all the smart folks here I would ask here first.

 

Community Leader
Senior Contributor
myjourney
Posts: 25,277
Registered: ‎02-07-2013

Re: Advice for first business credit card?


HappySoda wrote:

I'm going to be starting a business in the next 6 months and figure I will eventually need a business credit card to establish some history. I'd like a head start before I get deep into the business. I do have my ITIN, dba and board of equalization paperwork filed but as far as a legitimate business goes, I am not one yet. Can anybody tell me about the steps they took to establish business credit? Should I wait until I'm actually selling products or is it something I can start now?

 

I have 740ish FICOs across the board and don't know if personal credit will be used to establish my business credit. First steps you took would be appreciated. I plan to look online as well but figured with all the smart folks here I would ask here first.

 

do you have a D&B# yet because some companies report to business credit agencies?


 

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13
Community Leader
Senior Contributor
myjourney
Posts: 25,277
Registered: ‎02-07-2013

Re: Advice for first business credit card?

[ Edited ]

Not that its needed you can use TIN# but its good to have if you want to do business in the government system.

Yes all credit cards will require a PG based on your personal credit. I started with cap1 problem is it also report to my personal credit as well as business credit everyone else just reports to business credit.

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13
Valued Member
HappySoda
Posts: 56
Registered: ‎10-10-2012

Re: Advice for first business credit card?

Nevermind just saw the Business Credit 101

New Visitor
AdamJames
Posts: 3
Registered: ‎02-28-2013

Re: Advice for first business credit card?

Business rewards credit card that pays the most e.g. cash back reward


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+