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Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
0

HOW TO START BUSINESS CREDIT..............

Aloha everyone,

 

I am interested in starting a business in Georgia and Hawaii which I currently have  over 8 years experience in but the Question I have for everyone that knows How do I start business credit and not use my person credit? I would like to run the business of my business credit if I can or can you do that at all? Any advice will be helpful

 

Mahalo


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


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Established Contributor
ztnjpv
Posts: 726
Registered: ‎02-01-2012
0

Re: HOW TO START BUSINESS CREDIT..............

Personal credit is going to be the foundation of what you do...not only in the short run but also the long run.

 

I have yet to get any kind of credit without personal credit pulls. When you have an established business credit file, they will look at that too but they will ALWAYS pull your personal.


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
0

Re: HOW TO START BUSINESS CREDIT..............

Thanks for the reply so How do I get business credit started?


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


Take the FICO Fitness Challenge
Established Contributor
ztnjpv
Posts: 726
Registered: ‎02-01-2012
0

Re: HOW TO START BUSINESS CREDIT..............

1. Get registered as a business. Either do this by incorporating and getting an Employer ID Number (EIN) or using your social if your just going to be a sole proprietorship. 

2. Then get vendors or anyone who does business with you to report your activity to Dunn and Bradstreet (and Equifax business and Experian Business). This is more easily accomplished by calling D&B and getting a DUNS Number (your ID). You would then look for your vendors through their database and send requests to report your activity. Depending on whom you deal with, they will report your activity anyway without you asking but most simply don't do it. You could also call D&B and inquire about how to go about this.

 

 

But don't get too hung up on that. Your personal credit will always be the key cog in the process of getting business-related credit.


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
0

Re: HOW TO START BUSINESS CREDIT..............

 

Thanks for your reply. We have already applied for the EIN and we are doing a LLC b both business.


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


Take the FICO Fitness Challenge

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