02-28-2012 08:56 AM
I ust incorporated my business in January 2012. So far I have 2 net30 accounts Uline and Quill. I was denied FedEx Office net30. How lond do I need to wait in order to increase my approval chances with revolving creditors?
02-28-2012 10:33 AM - edited 02-28-2012 10:33 AM
If you're willing to PG and have a good personal credit score then you can do it that way but if you are like most and are trying to separate your biz credit from your personal then you are going to have to wait quite a long time.
Ideally you want to have 5 trades reporting with a paydex of 80 prior to moving on to revolving accounts.
Then you can probably start moving on to some of the revolving accounts.
I incorporated in 2010 and have 3 trades reporting with a paydex of 80 as of last week. I attempted to apply for the Amazon net 30 account which is not the revolving account and was denied for that. So that goes to show you how strict many places are these days.
Your best bet is to build that DNB file up as much as you possibly can. I know someone who was able to obtain revolving credit with just a year under his belt with no PG but this was back on 2011.
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