Credit Cards Center Credit cards from our partners
Reply
Highlighted
Visitor
Posts: 2
Registered: ‎05-15-2017
0

Business credit adventure

Never really thought about business credit the way you all do here.  I'll tell you my 50 day adventure so far.

 

Bacground:

  • company established in 2012 but as sole-prop
  • converted at beginning of 2017 to LLC -- 2 members -- (on secretary of state registered, active, and in good standing)
  • property management and transportation
  • had a very thin D&B already established with only 1 trade reporting (albeit $10,000 and recent)
  • had a very thin Experian already established with 2 accounts reporting (old closed accounts)
  • had a very thin Equifax already established with 1 account reporting (old closed account)

Since I started this adventure around March 25, 2017 we have obtained the following accounts (without PG):

 

Net30 Accounts

  1. MSC Industrial (Net30) - $1,000 (probably won't order much more from them)
  2. Quill (Net30) - $1,000 (I actually use Quill every other week.  Their catalog is quite impressive.)
  3. Grainger (Net30) - $1,000 (started to use them for painting supplies although I now have Sherwin-Williams)
  4. FedEx Office Commercial (Net30) - No Limit (have not yet used them)
  5. Uline (Net30) - $1,000 (used them once, but I like Quill better -- don't tell Uline)
  6. SupplyWorks HD (Net30) - $1,000 (I am working on esbalishing with these guys, I like them for general supplies; they have a agreement with Home Depot for charging)
  7. Strategic Network Solutions (Net30) - $1,500 (just used as a credit builder)
  8. Sherwin-Williams PRO Commercial (Monthly/20th) - $2,500 (have some major jobs to do and will likely use this account over Home Depot)
  9. Sunbelt Rentals (Net30) - $25,000 (may need to rent equipment for upcoming work)
  10. Home Depot Commercial (Net60) - $1,000 (have already put through $650 and paid $350 of this; obtained Net60 by joining fuel rewards)
  11. CNRG Voyager Fleet (Net10) - $600 (have been using this but may start just using Shell/Exxon???)

Installment/Lease Accounts

  1. CIT Direct Capital (Apple Financing) - $12,500 (purchased some Apple equipment on 24 month lease)

Revolving

  1. Shell Small Business - $1,000 (may become primary fuel card)
  2. Exxon-Mobil Business Card - $1,000 (will likely be back fuel card)
  3. Sunoco Corporate Card - $1,000 (Citi said yes, so it's now part of my credit portfolio)

Can't it but my the credit lines add up to $52,100.  I attempted NewEgg, several revolving card (Home Depot, Lowes AR), Amazon, and WalMart.  Synchrony does not like me at all.  Citibank and CIT Bank have been the most friendly.  I believe that the seasoning has helped.  (One of the applications actually checked my bank rating and I was deined.  I never really thought about keeping $10K in one account but that's my next goal.)

 

Excluding Sunbelt that's around $27K of credit.  I do not know where each of these report.  I hope to learn that over the next 30-90 days.

 

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.