Formed an LLC trying to set up business profiles help?

[chris288]

So I formed my LLC and now  interested in building business credit profiles etc.  I have a few questions below I was unable to find answers to if anyone can help.  I used the advice of everyone here not to purchase an Aged Shelf Corp as it was stated the aging would go away once I Incorporated to do business in my state and the creditors would see that... so thank you for th help.

Here is where I am...

1. I bought a virtual office for the business address and mail forwarding as I knew I needed a separate from my home address.  My question is do I need the phone number they provide attached to the location, or just create one and put it on the search engines on the web so that phone number will associate with that address?  Cell phone etc? ( I can buy one and an answering service from them but its pricey per month)  How important is the phone number here for creditors, Citi, Amex, etc. ( Also looking to add a Website and domain down the road.

2. I need to apply for a Duns Number, Experian Business file and Equifax business file. ( I have researched these on the web and those websites explain how to do this.. my question is do I need accounts first before I apply and set up these business files?  ( I heard when you apply for a Duns number to a new Corp it would flag it someway.

My first goal is to get the Net 30 accounts 5-7 maybe and start by paying those, then get a business checking account with the business name.

I would like a mix of Non PG accounts and PG accounts.  (Figuring I can still build Non PG accounts on store cards and possibly Amex,Visa,Mastercard credit cards, 5, 10 or 15k down the road without a PG.  Will PG Auto loan/Lease and or LOC's, or higher loan amounts.)

3. Is there anything I am leaving out and am I moving in the right direction here over the next few months?

One question I had was can I put my own personal tradelines on my LLC?  I have some Visa, Mastercards, Amex that are aged 2-7 years (Amex is 7) 0 Balance perfect history.  Can I add these to the LLC like I would an authorized user account to boost a personal credit file?  Would that give the corp instant credit worthyness?

Thank you to everyone for the help here.  Saved me some money and headaches not going for the aged shelf corp earlier.

[Creditaddict]

1. I don't know why you need a different address than home!

the banks software systems will pick up on a virtual office even faster than issues they have with home and bsuiness being the same but it's rare they care.

2. you can setup a D&B but DO NOT PAY FOR ANYTHING WITH THEM

3. I dont' know about setting up other business credit profiles, they form on own.

4. you can't add personal lines to your business credit.

5. the market of non pg visa/mc, etc. cards are very dry and sparse even with years in business and rev. in the millions.

BJ's Comenity World Mastercard is the latest and greatest to hit the market and seems pretty easy to get no pg with a decent business credit file but otherwise the chase, american express, etc. will always need pg

[chris288]

CreditAddict thanks for the reply.  So I am confused on the first one.  I always thought that you needed to separate your business and personal and part of doing that was having a different address for each.  This way you have some asset protection etc. 

I am in the old way of thinking here?

So there are hardly no non PG cards avaliable today then?  I was unware of that as well.

Could you please elaborate on the above with the address?  Everything I have read says to do this.

THanks again for the help.

[Creditaddict]

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@chris288 wrote:

CreditAddict thanks for the reply.  So I am confused on the first one.  I always thought that you needed to separate your business and personal and part of doing that was having a different address for each.  This way you have some asset protection etc. 

I am in the old way of thinking here?

So there are hardly no non PG cards avaliable today then?  I was unware of that as well.

Could you please elaborate on the above with the address?  Everything I have read says to do this.

THanks again for the help.

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my internet business never had a different address... it doesn't matter... once the credit report reflect an address it's just the same.

I have had a business phone but in the end I provided my cell almost always still!

non pg are harder and harder but some are still available but the requirements are way higher then they use to be.

amazon, sams, walmart, chevron (easy but I would skip) staples, etc. etc.

[CreditUnionFan]

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@Creditaddict wrote:

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@chris288 wrote:

CreditAddict thanks for the reply.  So I am confused on the first one.  I always thought that you needed to separate your business and personal and part of doing that was having a different address for each.  This way you have some asset protection etc. 

I am in the old way of thinking here?

So there are hardly no non PG cards avaliable today then?  I was unware of that as well.

Could you please elaborate on the above with the address?  Everything I have read says to do this.

THanks again for the help.

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my internet business never had a different address... it doesn't matter... once the credit report reflect an address it's just the same.

I have had a business phone but in the end I provided my cell almost always still!

non pg are harder and harder but some are still available but the requirements are way higher then they use to be.

amazon, sams, walmart, chevron (easy but I would skip) staples, etc. etc.

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I didn't see how a LLC could skip the PG on the Staples application.

I sw where one could opt out (make the approval process slower) on the Sams application, but the representative at the store insisted that I had to PG it. (grumble)

I believe others have had luck with Amazon and Walmart without a PG. I did successfully get approved for the Lowe's Business Account without a PG. It's underwritten by Synchrony, so Amazon and Walmart are probably still available.

[chris288]

Credit Union Fan how long have you had your LLC to get the non PG with Amazon, Walmart, and Lowes Business account?  Do you have any prior Business credit on your LLC to get those, or just started?

I am just starting so looks like u had some success I am curious.

Thanks

[CreditUnionFan]

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@chris288 wrote:

Credit Union Fan how long have you had your LLC to get the non PG with Amazon, Walmart, and Lowes Business account?  Do you have any prior Business credit on your LLC to get those, or just started?

I am just starting so looks like u had some success I am curious.

Thanks

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I registered the LLC in February 2014. I have a credit union checking account (of course) and then during May I opened up a Chase checking and Ink credit card account.

I know the LLC is on some mailing lists, getting mailings from Comcast and D&B to opt-in for their services. I will hopefully review my reports in a few days, and when I do, will look to see if Synchrony SP'd my personal report.

Otherwise, no other credit.

[chris288]

Thanks credit union fan. I am beginning so was wondering how long it was taking u to get some non PG credit.

Thanks to the both of u for the help