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New Business Credit Help Please!

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princechristian
Regular Contributor

New Business Credit Help Please!

Most of these threads seem to be outdated with new info so I wanted to ask....

 

I started a marketing company this year. Obtained EIN 3 months ago, leased an office 2 months ago, and am now stuck! Lol...

 

I know where to go from here but don't know how to get there! Now I would like to obtain 4-5 tradelines, but who recently, are the easiest to give out business credit?? Not too concerned with CCs as I am with Net 30s? Please help. Thanks!

Revolvers: FP Gold $300, FP Platinum $300, Applied Bank Business $500, Kay Jewelers $500, Fingerhut $400, Gettington $300

Installers: KHEAA student loan, Dealer Funding LLC auto loan x2, Crescent Bank auto loan, Acceptance Loan Co personal loan x2

Negatives: 1 collection - 2010 $307, Auto lates - 2 30 days, 60 day, 2009 / 3 30 days, 60 day, 2012

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2 REPLIES 2
kimmiller112
Frequent Contributor

Re: New Business Credit Help Please!

One thing you want to do is to get a Dun and Bradstreet Duns number and you can do a web search for them.  I opened up my own small business a year ago.  The first business card I got was a Capital One Spark (no rewards, just the basic card) and I got that one right around the time that I opened.  I had to put my personal information as a personal guarantee, but it does show up as a tradeline on Dun and Bradstreet, and on my business Equifax and Experian reports.  About six months ago, I got a commercial Staples card and I did not have to personal guarantee that one.  Right now, I am being faced with a lot of companies wanting 2 years in business before extending credit.  You may want to consider a gas card as a third tradeline.  Once you have 2 or 3 tradelines and you can get a good history going with those, it will make it easier to get business cards with companies like Chase and Amex.

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $6000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Message 2 of 3
princechristian
Regular Contributor

Re: New Business Credit Help Please!

I should have mention I do already have a duns number, received last month. What was your credit score at the time of your business cc approval?

 

Remember a few years ago when there was an exactly list of where to go for business credit without a PG? That's what I'm asking now... From EXPERIENCE, who here have received business credit without PG and where? Are companies like Quill, Reliance, ect still good to go for tradelines???

Revolvers: FP Gold $300, FP Platinum $300, Applied Bank Business $500, Kay Jewelers $500, Fingerhut $400, Gettington $300

Installers: KHEAA student loan, Dealer Funding LLC auto loan x2, Crescent Bank auto loan, Acceptance Loan Co personal loan x2

Negatives: 1 collection - 2010 $307, Auto lates - 2 30 days, 60 day, 2009 / 3 30 days, 60 day, 2012

Message 3 of 3
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