topic Re: Amazon Net Terms in Business Credit

Amazon Net Terms

mikesonthemend — Thu, 17 Oct 2019 01:43:51 GMT

Does anybody know who Amazon Business reports to?

Re: Amazon Net Terms

jaxstraw — Thu, 17 Oct 2019 02:48:24 GMT

@mikesonthemend wrote:
Does anybody know who Amazon Business reports to?

If you are referring to the Amazon Net 55 that is backed by Synchrony it reports to to EX and EQ biz.

Re: Amazon Net Terms

mikesonthemend — Thu, 17 Oct 2019 02:52:12 GMT

thanks!

Re: Amazon Net Terms

Anonymous — Tue, 22 Oct 2019 12:51:32 GMT

Guys, just got approved for Amazon Corporate Credit Line - no idea even what the amount is. Don't even care!

Saw this thread, and I am just getting started with this, so I figured why not give it a try?

Still early days yet - I have accounts open at Uline, Grainger and Quill so far - Just paid first net 30 inv with Quill and just placed first small order with Grainger. This is just to give you an idea of how early on in this journey I am at. Chapter one, pretty much. Maybe now moving to chapter two?

Man, I love this forum!

Re: Amazon Net Terms

Anonymous — Tue, 22 Oct 2019 13:04:48 GMT

Congrats on your approval! I always recommend Supply Works as they have been taken over by Home Depot you can request a card to use at Home Depot and it way easier to get than the Citi backed Home Depot business credit card.

Re: Amazon Net Terms

Anonymous — Tue, 22 Oct 2019 14:26:18 GMT

No way, seriously? HD is crazy hard to get approved for -- I will look into this!

When I did that flip project, I had like $6K from Lowes and about $200 total from HD. Of course that was personal credit, and I paid them as agreed, but wow, that is a pretty major difference in lending criteria right there!

EDIT: Credit App downloaded and filled out! Bam!!!

Going to let it sit here on the desk for a week, however, just to allow for my Grainger invoice to process. I listed them and Quill as my suppliers.

Re: Amazon Net Terms

Anonymous — Tue, 22 Oct 2019 14:48:43 GMT

Awesome! The key to getting the card to use at HD is to get a credit line which is different from just being offered Net 30 terms. The credit line is Net 30 also, but to be issued a card for use at HD & now HD.com is have Supply Works or HD Institutional as they are known as now to issue a credit line and not just Net 30.

When I sent in my app, I believe the only thing they requested was a copy of our EIN letter from the IRS. They also only report to EX biz. Let us know if you get approved for a credit line.

Re: Amazon Net Terms

Anonymous — Tue, 22 Oct 2019 15:13:26 GMT

It sounds like you are telling me that I want their ProPurchase card. OK so I am on their page here:

https://www.supplyworks.com/info/propurchase?ab=hp_mid_inst_propurchasebanner_ss

Should I go ahead and request the card at the same time, or just hold off until the line is open. Sounds like the latter -- "To receive a ProPurchase card, a Home Depot Pro account number and a Home Depot Pro line of credit are needed."

Was this also your experience?

Re: Amazon Net Terms

Anonymous — Tue, 22 Oct 2019 15:19:01 GMT

Yes, you have to have the credit line in place in order to request the card. Submit the app, wait for credit line approval and then request the card.

Re: Amazon Net Terms

Anonymous — Sat, 26 Oct 2019 21:14:36 GMT

did they same exact steps and i just got mine in the mail last week!

Re: Amazon Net Terms

Anonymous — Sun, 27 Oct 2019 06:48:24 GMT

@HoustonWestside

Just to be clear, Did you PG the Amazon Net 55 account? They are firmly a Teir 2 account and unless their UW has changed, would be extremely rare to get approved only showing 3 vendor accounts on your file. Just want to keep expectations for newbies clear.

Re: Amazon Net Terms

Anonymous — Sun, 27 Oct 2019 11:55:51 GMT

@Anonymous wrote:
@HoustonWestside

Just to be clear, Did you PG the Amazon Net 55 account? They are firmly a Teir 2 account and unless their UW has changed, would be extremely rare to get approved only showing 3 vendor accounts on your file. Just want to keep expectations for newbies clear.

I am unclear myself on this. Waiting on the mail.

I have had two separate communcations on this - one from Amazon and another, apparenty, from Synchrony.

This is the first notice I received (email) from Amazon, addressed to my LLC:

Congratulations! This Amazon.com Corporate Credit Line (ending in 9549) has been approved and added to your Amazon.com account as the default payment method.
You can start using the line of credit right now to make purchases at Amazon.com. You'll receive your account number in the mail within two weeks and once you receive it, you can sign-up for secure online account access here: Online Credit Center. Online account access lets you review your Amazon.com Corporate Credit Line statement, pay online, and much more.

So waiting on the mail for that. That notice came on a Monday.

Ok now this email rolls in on Friday.

We are responding to your recent application for a AMAZON.COM STORECARD (Reference Number: L5F5NS). Please click here to review the response on our secure site. To help reduce our impact on the environment, we are sending this letter to you electronically. You can download or print the letter for your records.

BTW I was unable to open this response online. Didn't work. Probably I was rejected.

This is really wierd, as I don't really remember applying for this storecard, but yes, I would imagine this would be a PG.

So honestly not sure if this was all part and parcel of the same application, or exactly what is going on here.

Re: Amazon Net Terms

Anonymous — Sun, 27 Oct 2019 12:01:27 GMT

@SilverSmith

I would add that I really don't have anything in my file. Just one TL really. Grainger just filled my order on my second one, so that will be two TLs next month.

The LLC actually HAS had HC of $150K (flipped a house) but I am certain that isn't showing up anywhere. And I have a line at Bank of A for $11K -- again not sure that is getting reported.

However, here is one thought -- the LLC is two years old. I would guess that fits into the UW algorithm somewhere.

Re: Amazon Net Terms

Anonymous — Sun, 27 Oct 2019 12:22:12 GMT

Check your personal CR for a HP INQ from SYNC and youll know for sure.

Re: Amazon Net Terms

spiritcraft1 — Sun, 27 Oct 2019 16:30:40 GMT

@Anonymous wrote:
Check your personal CR for a HP INQ from SYNC and youll know for sure.

Yes, that is the all-telling sign... a Hard Pull

Re: Amazon Net Terms

Anonymous — Sun, 27 Oct 2019 17:24:50 GMT

@Anonymous wrote:
Check your personal CR for a HP INQ from SYNC and youll know for sure.

Maybe. I am sure Synchrony ran my credit for that storecard. But I don't know about the Amazon line - I really think that is a separate account.

Could be wrong though -- This is what showing as a payment option in my Amazon business account:

Amazon.com Corporate Credit Line (Pay-in-Full)

This might be the Synchrony bank product....

Re: Amazon Net Terms

CS11 — Sun, 27 Oct 2019 19:34:17 GMT

I just applied for the net 55 out of boredom no PG and was approved for 3k. 0 TL on the LLC... only have a Navy Fed biz acct.

Re: Amazon Net Terms

Anonymous — Sun, 27 Oct 2019 23:37:14 GMT

Need more DPs. Are you saying you have a Navy biz checking account or biz credit card? All businesses would have a checking account. Navy doesnt report CC. How old is LLC? Have you checked all 3 biz CRAs? What did you put for rev/spend on app? Amazon is notorious for being a solid Teir 2 = 5+ TLs reporting or a PG. Would need to see more for confirmation of change in UW. At this point, UW has gotten more strict across the board given market conditions. This would be an anomaly.

Re: Amazon Net Terms

mikesonthemend — Mon, 28 Oct 2019 01:26:02 GMT

@Anonymous wrote:
Congratulations! This Amazon.com Corporate Credit Line (ending in 9549) has been approved and added to your Amazon.com account as the default payment method.
You can start using the line of credit right now to make purchases at Amazon.com. You'll receive your account number in the mail within two weeks and once you receive it, you can sign-up for secure online account access here: Online Credit Center. Online account access lets you review your Amazon.com Corporate Credit Line statement, pay online, and much more.

I have this with Amazon also. It is Net 30, not the Synchrony Net55. It was my first biz TL. Two months later, after one paid invoice, they pitched Amazon Bix AMEX. Approed for 3x my personal Amex.

Re: Amazon Net Terms

CS11 — Mon, 28 Oct 2019 04:04:55 GMT

@SilverSmith
Not much for DPs, LLC formed in February, NFCU business checking & savings opened shortly after. Applied for all the standards quill, grainger, uline etc. all either denied or didn’t like what they wanted me to do. Soon after job moves me to another city so nothing has happened for the last 7-8 months. This morning I decided to try Amazon and got the mystery approval.

I do have a small amount direct deposited into the biz chk and savings acct every week, don’t know if that even matters.