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Frequent Contributor
molly73
Posts: 381
Registered: ‎05-18-2008
0

Re: Business Credit Section

great thread!

a lot of people could use that info!
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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Business Credit Section

Might be time to sticky a thread consisting of nothing but links to myFICO forums biz credit threads.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Visitor
agent800
Posts: 2
Registered: ‎10-25-2007
0

Re: Business Credit Section

Regarding credit score and business cards I found that my business card balance never shows up on my personal credit report. That's great since I have a zero bal on my personal cards but several thousand on my bus card. I suggest trying Advanta, no annual fees, reasonable rates 6.9% - 8.9%
Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Business Credit Section

Advanta is great, you do have to PG it. but watch if you carry a balance, they will rate jack you!
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
New Visitor
agent800
Posts: 2
Registered: ‎10-25-2007
0

Re: Business Credit Section

Like every cc you have to make sure you make the payments on time. I think the rate jacking for late or missed payments are disgusting however I will admit that the disclosure is all there for someone to read. If you have to leave a balance then you have to leave a balance. I'm constantly offered bal trans at 6.9%. But since my other cc's are zero I never take advantage of them.
Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Business Credit Section

I said nothing about being late for ratejack.
Advanta constantly reviews there accounts internally and changes risk scores (according to them).
I agree, CLD and interest rate increases are expected if your late or over your limit.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Regular Contributor
kahuna
Posts: 114
Registered: ‎05-05-2008
0

Re: Business Credit Section

I've had an S-corp for 7 years and I've never checked it.  I guess I'd better get online and do it.  Dang, what a waste of time.  One thing though, can you just go online and start accounts (the Net30) like in Office Depot or do you actually have to go in a branch and fill out forms?
Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Business Credit Section

office depot is a credit card, not net 30. you can apply online
usually net 30 accounts come from your suppliers and such
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Frequent Contributor
molly73
Posts: 381
Registered: ‎05-18-2008
0

Re: Business Credit Section

with biz credit......do they only report you if you are 30 days late? when do they report things?
Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Business Credit Section

most report monthly like a regular credit card.
tehe question is to what business credit they report to.
some only Equifax, some D&B, some to nothing.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:

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