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05-18-2017 01:46 PM - edited 06-10-2017 09:44 AM
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.
06-07-2017 10:42 AM
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.
06-10-2017 09:50 AM
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.
06-12-2017 01:20 PM
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.
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