Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 12
Registered: ‎09-15-2013
0

Establishing Virtual Business Location...

So I would like to establish a business location that is NOT my home because I suppose to build business credit, you cannot use your home as your address of business. SO, I suppose it's recommended to get a virtual office that is in your hometown. Mine is only 5 miles away from me and it's $100 per month but the question I had was is it okay if I get one that is 25-30 miles from me instead because it's only $49 per month? Does it matter that much if it's not EXACTLY in my home town?

 

Thank you.

Epic Contributor
Posts: 25,812
Registered: ‎10-23-2007
0

Re: Establishing Virtual Business Location...


Subsignal wrote:

So I would like to establish a business location that is NOT my home because I suppose to build business credit, you cannot use your home as your address of business. SO, I suppose it's recommended to get a virtual office that is in your hometown. Mine is only 5 miles away from me and it's $100 per month but the question I had was is it okay if I get one that is 25-30 miles from me instead because it's only $49 per month? Does it matter that much if it's not EXACTLY in my home town?

 

Thank you.


1. It does not matter how far away it is especially when talking such a short "commute" if really going to office I don't think 30 miles is anything.

2. Why can't you establish business credit for a home address? granted it is easier and you look bigger by providing a business address that matches up to a commercial address but I have build many of business credit profiles from my home address.... what is important that matches for auto and quick looking manual reviews is that the address with the state for your LLC, EIN or what not matches that of the address you are using for credit and such.

Just get yourself an 800 # through Ring Central and unless going for big credit and without pg etc. you will probably not see any issues going through verification.

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
Established Member
Posts: 12
Registered: ‎09-15-2013
0

Re: Establishing Virtual Business Location...

So I don't NEED to get a business address? My goal is to get a few business credit cards with limits of 10k or higher. So as long as my business papers and where I filed matches my home address, I should be good? Thank you.

Epic Contributor
Posts: 25,812
Registered: ‎10-23-2007
0

Re: Establishing Virtual Business Location...


Subsignal wrote:

So I don't NEED to get a business address? My goal is to get a few business credit cards with limits of 10k or higher. So as long as my business papers and where I filed matches my home address, I should be good? Thank you.


yeah if your credit is good the banks are only concerned about your credit and your money... not weather you have a brick and mordar business.

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
Established Member
Posts: 12
Registered: ‎09-15-2013
0

Re: Establishing Virtual Business Location...

Well I'm not really caring about a bank per se. Like I said, I wanted to be able to get a few nice credit cards with limits above 10K.

Community Leader
Senior Contributor
Posts: 27,587
Registered: ‎02-07-2013
0

Re: Establishing Virtual Business Location...


Subsignal wrote:

Well I'm not really caring about a bank per se. Like I said, I wanted to be able to get a few nice credit cards with limits above 10K.


I would advise you do some more research I have researched this a lot early during my business start up and what I found is banks will not lend to you if they determind you have a virtual office see attached example I have read articles from D&B as well as others that confirm this to be true YMMV

http://samnii.com/Business_Credit_Dos.html

+ Chase ink =




Established Member
Posts: 12
Registered: ‎09-15-2013
0

Re: Establishing Virtual Business Location...

Thank you, that really helped. Appreciate it. Smiley Happy

Community Leader
Senior Contributor
Posts: 27,587
Registered: ‎02-07-2013
0

Re: Establishing Virtual Business Location...


Subsignal wrote:

Thank you, that really helped. Appreciate it. Smiley Happy


Not a problem just didn't want you proceed w/o all the facts and then make a costly mistake that would hurt your efforts. Setting up a business can be a lot of pitfalls if not given the right info. 

I do have a question why can't you use your home address is it a zoning issue or local ordinance?

 

+ Chase ink =




Established Member
Posts: 12
Registered: ‎09-15-2013
0

Re: Establishing Virtual Business Location...

Im sure I can use my home address. I just read other articles saying not to so I was a bit scared. lol. 

 

If I open up the 5 trade lines, then go to the second tier, and then third tier, how long abouts will that take me? My goal is to eventually acquire 2 or 3 10K+ credit cards.

 

 

Thank you again. : ]

Epic Contributor
Posts: 25,812
Registered: ‎10-23-2007
0

Re: Establishing Virtual Business Location...

What does your credit look like?
Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
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 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.

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.