Business Credit

[concorduser]

Hi netpanther, If you would like to read, you can visit a local book store like Border or Barnes & Noble. Most of things I learned by experience promoting 3 start ups in the last 8 years and working in the business environment for the last 20+ years.

What ever I learned is experience and learning from others. Next year I am planning on promoting a new start up in the Data Storage Industry which is a $200 Billion Market / year. That is the reason I am cleaning up my personal credit and building the business credit.

You might want to check with a local CPA in your area. You can get lot of benefits of forming a C corporation. They might suggest to form S corp. I personally like C Corp as to the benefits it offers.

If you need more info, feel free to send me a PM any time with any questions you might have. I'll be happy to make suggestions to your questions.

[netpanther]

Thanks so much Concord. Appreciate all the help. Yes, that's how I learned so much re: residential real estate- just plopping down in a chair (or even the floor) in B and N and read, read read!!

Thanks so much. Like I said- DH is on the verge- it's been coming for two years, where he is at the point where he can use employees but hesistant about the committment and time is a factor too. I have no doubt in my mind he could quit his job as a policeman and make his business full time- but it is very scary and it is hard to give up security such as free insurance ( he only has to pay for me) and stability of a paycheck no matter what the weather is.

[ficoSaurus]

Update on the Home Depot Platinum Business Mastercard: 

OMG!!  Just received cards today,

                     CL is $25,000.00 -  What the?!?!?! 

I should have been using my business credit, instead of personal all these years!

[Creditaddict]

HOLY COW CL.... what accounts did you have before applying for this? how old is business? bus. credit score?

I'm still waiting to hear from HD MC... I have the HD Commercial card but PG... I don't want to pg mastercard

[ficoSaurus]

I just applied for Shell Biz $5,000, BP $2,500, now this Platinum all with NO PG, I only had a Home Depot that my sis used, was $2,500, then consistently within 3-6 months upped to $12,500. 

SmartBusiness Exp score because of the Home Depot, I guess, is 95.

[concorduser]

I am thinking of adding new heating system for the house. I might have it installed and pay $2k every month on my Commerical Card for next 6 months. That should boost CL on my card and they might approve me for the MC.

[ficoSaurus]

Sis used the card for a small house remodel flip project.   When I had the card, I never used it, as I had a personal HD also.  I have had it for about 2 years.   I feel that since the card was dormant, the CL remained dormant.   Sis had a lot of returns, but, constantly paid the card. 

It was scary to both of us seeing the CL go up so fast and so much.  I now see it was a good thing!  Too bad it doesn't count toward your personal credit.

So, Concorduser, use that card, put some activity on it, whether it is a return or a charge.

[tucsunaz520]

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