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Ok, so does that mean you used SS# on Home Depot app? As far as whether the cards report to a biz credit file, is that up the issuer or is there a law about that? Thanks
@Anonymous wrote:Ok, so does that mean you used SS# on Home Depot app? As far as whether the cards report to a biz credit file, is that up the issuer or is there a law about that? Thanks
yes home depot was with SS#
It is up to the lender rather they report to business credit or not.
As far as putting an EIN down on a biz app, is it people's experience that you are more likely to get approved rather than putting the SS# down?
@Anonymous wrote:As far as putting an EIN down on a biz app, is it people's experience that you are more likely to get approved rather than putting the SS# down?
The thing is before the credit crises, if you had established business credit, you could obtain about any store card with just EIN and no PG if you were LLC, S-corp, etc.
After the credit crisis, you have to usually be open for more than 3 years and more than 1 million in revenue before you can obtain business credit without PG... so now even with EIN and business credit you are going to have to PG
thanks for the replies. Anybody else have insights into the pros and cons of EINs?
wanted to bump this
bump...
@Anonymous wrote:bump...
Any new questions? Did you get EIN yet? try applying for anything?
I haven't applied for an EIN yet. Right now I'm trying to find a good business credit card. Any suggestions?
If you are going to pay in full and spend less than 5k a month - Amex Gold Business.
If spending over 5k a month and paying off - amex Plus Business
If carrying a balance - Chase Ink revolver, Us Bank
many of the business credit cards now report to personal credit too so if your going to carry a balance I would not want that - Capital One