Never really thought about business credit the way you all do here. I'll tell you my 50 day adventure so far.
Since I started this adventure around March 25, 2017 we have obtained the following accounts (without PG):
Can't (won't) use it all, 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.
Good job. After reading your post, I started my own business credit adventure as well and just yesterday was approved for Amazon Net 55, Office Depot and Quill! I am waiting to hear back from Exxon and Walmart.
I had applied for Staples Commercial and they denied me. They sent a letter with an explanation and it was that they couldn't verify the phone number. I called them back and they had me send a copy of the company phone bill. I sent that and called them back and they approved for $500 over the phone. So add Staples Commercial and More (Net30) to the list)
I now have 8 trade lines reporting to Experian with an Experience Score of 96. My D&B only has 3 trades reporting (at least one is $10K) with no PayDex score My Equifax profile has 4 lines reporting but no score.
Okay, today I receive an alert from Smart Business Reports that my score dropped "significantly" so I looked. It dropped from 96 to 89 because one of my credit cards current balance is close to the previous high balance.
So that's an interesting learning experience for me. Since they are only reporting the "high" credit and not the credit limit, I will probably need to charge it all the way up, then keep the balance reporting low.
A score of 96 is quite high and I don't know why I had such a high score. I'd like to stay in the 80s.
Okay, so here's the latest.
I recieved a pre-selected offer from BB&T for a Business Signature VISA, which required a trip to the bank. I took the trip to the bank this morning and applied. I will know in a few days but I don't suspect that I'll be approved.
I was perusing the forum and saw a post on the Amazon Net55 NoPG. So I pulled the trigger for that card and just received an instant approval. The last time I applied I was denied. I think I have applied at least 3 times in the past, so the 4th time is a charm? It was $4,000 and instant. Crazy. My Experian Business Score is 81 and my D&B Score is 79.
awesome info - thanks for sharing will save this
I was declined for the Business VISA due to too many recent inquiries. Oh well. So, for some reason I thought that I could get a better fleet card than the Shell, Exxon, and Sunoco cards that I have. I applied for Conoco Philips, which denied me before, and that was approved for $1,000. I then got "excited" -- I suppose -- and applied for the Speedway and the Racetrac fleet cards. I was approved for both. Each was approved at $4,000.
So that's $11K in new business credit in the last 2 weeks. My D&B Paydex is 79 (will likely be over 80 in a month as I'm paying things as soon as they are invoiced), and my Equifax is 81. I'm going into a business credit gardening period until May 2018.