Needing some help on new LLC and getting credit

[NY2014]

You can also try like AT&T Verizon for business without a PG only your EIN # if that helps I was approved for 10 lines with AT@T without PG New LLC

[Anonymous]

Does wex fleet report to the credit bureaus? can you name a some business credit cards that report to D&B or equafax business?

[Anonymous]

Chase just denied me the Marriott biz card a few days ago and upon talking to an analyst they said that I don't have any credit history.

I've been a sole prop for 3yrs (more of a hobby business) recently turned into an LLC last month.

the analyst at Chase was talking at lenght on getting a DUNS and having something report on my business even with me as a personal guarantor

I was app spreeing that day and AMEX gave me 2 biz cards off the bat.

Anyone have experience in this? best recourse?

[Anonymous]

Which ones? What was your credit score?Did you PG it? Did they run your personal credit? I just started building biz credit also I just got a secured wells Fargo. .because my llc is 2 months old. Even though I have 720TU.

[Anonymous]

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@Anonymous wrote:
Which ones? Marriott business card
What was your credit score? EQ 745, TU 738, EX 729
Did you PG it? Yep.
Did they run your personal credit? Yep.

I just started building biz credit also I just got a secured wells Fargo. .because my llc is 2 months old. Even though I have 720TU.

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I was app spreeing and my total haul for that day was $63k in new credit lines plus a $2k CLI.... not sure why Chase kept pushing the 'no business credit' reason.  I've had 1 recon on it so far.... maybe I should try to recon again on Monday?

[silver_idle]

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@Anonymous wrote:

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@Anonymous wrote:
Which ones? Marriott business card
What was your credit score? EQ 745, TU 738, EX 729
Did you PG it? Yep.
Did they run your personal credit? Yep.

I just started building biz credit also I just got a secured wells Fargo. .because my llc is 2 months old. Even though I have 720TU.

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I was app spreeing and my total haul for that day was $63k in new credit lines plus a $2k CLI.... not sure why Chase kept pushing the 'no business credit' reason.  I've had 1 recon on it so far.... maybe I should try to recon again on Monday?

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You should look into building business only credit using net 30 accounts. Quill, Reliable, SNS, Uline, Print Country, Grainger, and several other companies are good for start. From there you would want to move to something like gas cards. 

They could be saying you dont have any business credit base on the report they may be checking. Have you checked your DNB and Experian business report? You may be looking at one while they are checking the other. AMEX may check something else that they are not checking when it comes to business credit.

[Anonymous]

Thanks for the list darius - I'll take a look at those items.

Nah, i definitely don't have anything reporting - turned it into an LLC a month ago - but for the sake of checking I did search with Experian and found nothing.

I applied for a free DUNS # and probably looking into a Staples corporate line to start.  I'll have that report for a few months then try with Chase again.

I've read AMEX doesn't report to business credit - I'm assuming then that they take PG weight more than business.

[silver_idle]

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@Anonymous wrote:

Thanks for the list darius - I'll take a look at those items.

Nah, i definitely don't have anything reporting - turned it into an LLC a month ago - but for the sake of checking I did search with Experian and found nothing.

I applied for a free DUNS # and probably looking into a Staples corporate line to start.  I'll have that report for a few months then try with Chase again.

I've read AMEX doesn't report to business credit - I'm assuming then that they take PG weight more than business.

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If i recall, you to PG for staples corporate account. AMEX, as many said, does report to business credit, but doesnt to personal unless default. To get a AMEX corporate account without PG, there are requirements one must meet which many dont meet yet. Factors vary as to how you are approve when it comes to business vs personal report. It may be possible to have bad personal credit and still have great business credit and get approve (or denied) for revolving or loc when PG, all depending on the creditor, and how they look at things. 

[Anonymous]

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@dariusc93 wrote:

If i recall, you to PG for staples corporate account. AMEX, as many said, does report to business credit, but doesnt to personal unless default. To get a AMEX corporate account without PG, there are requirements one must meet which many dont meet yet. Factors vary as to how you are approve when it comes to business vs personal report. It may be possible to have bad personal credit and still have great business credit and get approve (or denied) for revolving or loc when PG, all depending on the creditor, and how they look at things. 

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Really?! if so, awesome!  I'm assuming to business EXP (they pull my personal EXP)

[Anonymous]

Answered my own question... found a small discussion on the AMEX forums and here's a quote from an employee response:

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beth@amex wrote:

Hi xxxxxx,

I hope you are enjoying the benefits of your Gold Delta SkyMiles Business Credit Card.

American Express reports information concerning OPEN accounts to the following Business Credit Reporting Agencies:

• Small Business Financial Exchange (SBFE) - Reports both positive and negative information (this information is reported on the business entity, not our Basic Card Member.

• Dunn & Bradstreet - Reports only negative information.

Any OPEN account that qualifies for unsatisfactory reporting may be reported to both the consumer and commercial credit bureaus; i.e. (Consumer) Experian, TransUnion, Equifax and (Commercial) Dun & Bradstreet and the SBFE (Small Business Financial Exchange).

I hope this answers your question. Please let me know if I can assist you any further.

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